New orders for U.S.-made goods fell more than expected in January and could drop further as a worldwide coronavirus outbreak strains supply chains and undercuts the manufacturing sector, which had recently shown signs of stabilizing after a prolonged slump.
U.S. unit labor costs grew much slower than initially thought in the fourth quarter and were soft in 2019, suggesting inflation could remain tame despite tightening labor market conditions.
The number of Americans filing for unemployment benefits fell last week, suggesting the labor market was on solid footing despite the coronavirus outbreak, which has stoked financial market fears of a recession and prompted an emergency interest rate cut from the Federal Reserve.
U.S. stock indexes dropped more than 2% on Thursday as the swift spread of the coronavirus in the United States led California to declare an emergency, while airline stocks were hammered by crippled travel demand.
Two years into an ambitious growth plan to revive earnings at the largest U.S. oil company, Exxon Mobil said on Thursday it would stick to its plans to “lean in” to spending even as its shares have lagged its competitors, which are cutting costs.
The next-generation KC-46 tanker is not fit for duty, according to America’s top Air Force general Continue reading… …read more […]
Amazon.com Inc and Facebook Inc on Thursday joined Microsoft Corp in recommending employees in the Seattle area to work from home after several people in the region were infected with the coronavirus.
(Bloomberg) — Southwest Airlines Co. warned that a drop in bookings will dent first-quarter revenue, compounding evidence that the coronavirus’s impact is spreading across U.S. air travel.“In recent days, the company has experienced a significant decline in customer demand, as well as an increase in trip cancellations,” the Dallas-based discounter said Thursday in a regulatory filing. It cited the coronavirus that is spreading in the U.S.Southwest expects a $200 million to $300 million impact on operating revenue in the period. Revenue for each seat flown a mile, an industry benchmark, could drop as much a 2% from a year earlier, …read more […]
Oil fell on Thursday as the coronavirus epidemic showed no signs of slowing, with deaths mounting globally, and while major producers agreed on deeper output cuts to bolster prices, they could not immediately secure Russian support for the decision.
German airline group Lufthansa said on Thursday it is cancelling about 7,100 flights up to the end of March due to lower demand and the spread of coronavirus.
Russia’s state carrier Aeroflot said on Thursday it would suspend its flights to and from Hong Kong amid fears over coronavirus.
Two years into an ambitious growth plan to revive earnings at the largest U.S. oil company, Exxon Mobil said on Tuesday it would stick to its spending plans even as its rivals trim costs. Exxon faces oil prices that have fallen over 20% this year, the lowest natural gas prices in decades, a long-term industry outlook too is clouded by a push toward cleaner fuel and pressure from investors for higher returns. The company’s growth strategy “will lead to sustained improvement in shareholder value,” Exxon’s Chief Executive Officer Darren Woods said in New York, where the company held …read more […]
Two years into an ambitious growth plan to revive earnings at the largest U.S. oil company, Exxon Mobil said on Tuesday it would stick to its spending plans even as its rivals trim costs.
“The Xerox offer would leave our shareholders with an investment in a combined company that is burdened with an irresponsible level of debt and which would subsequently require unrealistic, unachievable synergies that would jeopardize the entire company,” Chip Bergh, chair of HP’s board, said on Thursday. Xerox did not immediately respond to a request for comment. HP has requested its shareholders to reject Xerox’s tender offer to acquire all its outstanding shares, which was launched by Xerox earlier this week. …read more […]
The Iranian oil minister confirmed on Thursday that OPEC ministers had agreed an extra 1.5 million barrel per day (bpd) cut in oil production and that Iran was still exempt from the reduction.
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