Business & Finance News
U.S. stock indexes moved in a flat-to-low range on Friday as simmering Sino-U.S. tensions weighed on markets struggling to gauge the pace of economic recovery from the coronavirus.
Unemployment rates rose and total employment fell in all 50 U.S. states and the District of Columbia in April as efforts to contain the coronavirus pandemic forced businesses to close across the United States, the Labor Department said on Friday.
BP is more than halving the size of its senior management team as part of Chief Executive Bernard Looney’s drive to make the 111-year-old oil company more nimble as it prepares for the shift to low-carbon energy.
General Motors Co is delaying the resumption of second shifts at truck assembly plants in Michigan, Indiana and Mexico because of a lack of parts from Mexico, a person briefed on the matter said.
Deere & Co on Friday topped quarterly sales and profit estimates and forecast a smaller-than-expected fall in farm equipment sales for the year, signaling a recovery in demand for its harvesters and tractors.
U.S. President Donald Trump has put his faith in anti-malarial drug hydroxychloroquine to ward off COVID-19, but governments and investors are focusing on a vaccine. Without one, it’s unlikely economic activity can resume fully.
U.S. stocks opened flat on Friday as investors pitted hopes of more stimulus to revive an ailing economy against deteriorating U.S.-China relations over Beijing’s move to impose a national-security law in Hong Kong.
(This May 19 story officially corrects paragraph 3 to say net loss of “$3.52” per share and not “$3.50” after company adjusts the number while preparing its quarterly filing.)
Alibaba Group Holding Ltd on Friday reported forecast-beating fourth-quarter revenues and profits, as more people shopped online for essentials because of the coronavirus lockdowns.
U.S. stock indexes were set for a near-flat open on Friday as investors weighed hopes of more stimulus to revive an ailing economy against simmering Sino-U.S. trade tensions.
Chinese technology company NetEase plans to carry out a secondary listing on the Hong Kong Stock Exchange on June 11, which will be followed one week later by web retailer JD.com , four sources with direct knowledge of the matter said.
Talks over a 9-billion euro German government bailout of Lufthansa have hit a snag and will continue over the weekend, a German newspaper reported on Friday.
EasyJet founder Stelios Haji-Ioannou failed in his attempt to oust the airline’s top three bosses on Friday, giving it a brief respite in its battle for survival during the coronavirus pandemic.
China’s Alibaba Group Holding Ltd on Friday reported fourth-quarter revenue and profit that topped market expectations, as the COVID-19 lockdowns drove more people to shop online for essentials.
Oil fell 5% on Friday to around $34 a barrel as tensions rose between the United States and China, and doubts grew about the pace of demand recovery from the coronavirus crisis.
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