Business & Finance News
French carmaker Renault has sealed a deal with banks on a 5 billion-euro ($5.47 billion) state-guaranteed loan to help the company to cope with the coronavirus outbreak, two sources close to the matter told Reuters on Tuesday.
Top U.S. airlines and Air Canada on Tuesday reported slower ticket cancellations and signs of improving demand, with Delta Air Lines Inc saying its cash flow was on track to reach break-even by the end of the year.
The euro and European government debt rallied on Tuesday, lifted by a Franco-German proposal to fund grants for regions hit hardest by the coronavirus pandemic, while oil rose on growing demand as countries eased business lockdowns.
Federal Reserve Chair Jerome Powell and Treasury Secretary Steven Mnuchin found themselves in the hot seat on Tuesday as U.S. lawmakers grilled them about the uneven nature of the fiscal response to the fallout from the coronavirus pandemic.
U.S. homebuilding dropped by the most on record in April and permits for future construction tumbled, underlining fears that the coronavirus crisis would lead to the deepest economic contraction in the second quarter since the Great Depression.
Talks between Walmart and possible buyers of a majority stake in its British supermarket Asda will likely resume when the industry settles into a “new norm” with the worst of the coronavirus crisis behind it, the boss of Asda said on Tuesday.
The S&P 500 was trading flat on Tuesday, handing back some gains from a strong rally in the previous session, as investors digested a mixed set of quarterly results from retailers including Home Depot and Walmart.
JPMorgan Chase & Co shareholders voted to reelect each of the bank’s board members, with each director receiving at least 84% of the shares voted, according to initial tallies.
Microsoft Corp said on Tuesday it plans to roll out a version of its cloud-based software that will be modified to suit the needs of healthcare organizations.
U.S. President Donald Trump’s administration awarded a contract worth up to $812 million for a new U.S. company to manufacture drugs and drug ingredients to fight COVID-19 on American soil, aiming to end dependence on other countries.
Exxon Mobil has relaunched the sale of its stake in Azerbaijan’s largest oilfield, the company said on Tuesday, as banking and industry sources said the move was drawing interest from large Asian oil and gas companies seeking to capitalize on the recent collapse in oil prices.
Walmart Inc exceeded Wall Street expectations with its quarterly revenue and earnings on Tuesday and reported record U.S. online sales after consumers rushed to stock up on necessities during the coronavirus pandemic.
Prime storefronts left empty by failed businesses. Cheaper or even flexible rents. Landlords willing to add drive-thru lanes.
U.S. stock markets will deliver among the steepest recoveries in their history over the next year, returning to levels from before March’s coronavirus lockdowns more than twice as fast as after the 2008 financial crisis, according to analysts from U.S. bank Citigroup.
Citigroup Inc said on Tuesday that is launching a new business unit within its corporate and investment bank dedicated to environmental sustainability to strengthen its commitment to an area that has grown increasingly important to corporate clients and investors.
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