Business & Finance News
Kohl’s Corp reported a surge in online sales in its coronavirus-hit first quarter on Tuesday and said it had reopened nearly half its stores as lockdowns eased across the United States, sending its shares around 5% higher.
U.S. drug manufacturer Phlow said on Tuesday it had received $354 million from the government to speed up the manufacturing of drugs being tested and used to fight the new coronavirus.
Asda, the British supermarket arm of the world’s biggest retailer Walmart , said on Tuesday its first-quarter comparable sales rose 3.5%, boosted by consumers stocking-up on food in response to the coronavirus crisis.
Home Depot Inc missed estimates for quarterly profit on Tuesday, as the home improvement chain spent about $850 million on benefits for employees keeping its stores and warehouses running through the COVID-19 pandemic.
Walmart Inc’s first-quarter U.S. comparable sales rose 10% and the retailer reported a 74% rise in online revenue on Tuesday as stockpiling of groceries and other staples drove consumers to its stores and website during the coronavirus-related lockdowns, sending its shares up nearly 4%.
Kohl’s Corp reported a bigger-than-expected loss on Tuesday, as the department store chain’s stores remained shut for most of the first quarter due to the COVID-19 lockdowns.
Oil prices were steady on Tuesday amid signs that producers are cutting output as promised while traders awaited more clarity on the demand picture as some countries ease out of lockdowns.
Southwest Airlines Co said on Tuesday it recorded positive bookings on a net basis through May 18, as passenger reservations outpaced trip cancellations.
Steel-to-submarines conglomerate Thyssenkrupp has changed the structure of its sprawling empire, splitting operations into three categories as it seeks to simplify the business, stop cash burn and revive its battered share price.
Mitsubishi Motors Corp will focus on cutting fixed costs by 20% or more in the next two years after reporting an 89% drop in annual profit, its weakest performance in three years, and skipping its year-end dividend.
JPMorgan Chase & Co has given out more than $30 billion in loans to over 250,000 businesses as part of the United States’ coronavirus aid program for small businesses, Chief Executive Officer Jamie Dimon said in a memo on Tuesday.
Home Depot Inc reported a 6.4% rise in quarterly same-store sales on Tuesday, as the COVID-19 pandemic caused a surge in demand for cleaning supplies and masks at the home improvement chain’s stores.
Deutsche Boerse Chief Executive Theodor Weimer said on Tuesday that he planned to complete his term through the end of 2024 at the helm of the stock exchange operator.
Deutsche Boerse Chief Executive Theodor Weimer said on Tuesday that he planned to complete his term at the helm of the stock exchange operator.
Thyssenkrupp could sell most of its steelmaking division, its CEO said on Tuesday, marking a historic reversal in strategy for the German conglomerate which has built its 200-year-old legacy as an industrial champion on the business.
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