Business & Finance News
A gauge of global equity markets surged 3% on Monday and oil rallied to highs last seen in mid-April as data from an early-stage trial for a coronavirus vaccine lifted hopes of a faster recovery from the pandemic-driven economic slump.
U.S. stocks jumped on Monday, and the S&P 500 reached a 10-week high, on encouraging early-stage data for a potential coronavirus vaccine and on the promise of more stimulus to lift an economy beaten down by the pandemic.
Oil prices jumped on Monday, with both U.S. and Brent benchmarks on track for their highest settles in two months, supported by positive early results on a potential coronavirus vaccine and optimism about resumption in economic activity.
Uber Technologies Inc will concentrate on its core businesses in ride-hailing and food delivery and cut 23% of its workforce in an attempt to become profitable despite the coronavirus pandemic, Chief Executive Officer Dara Khosrowshahi said in an email to employees on Monday.
JPMorgan has made a number of changes in senior positions in its investment bank in the Europe, Middle East and Africa (EMEA) region to support a February reshuffle of the top roles, according to an internal memo seen by Reuters.
U.S. stocks surged on Monday, with the S&P 500 hitting a 10-week high, as encouraging early data from a potential coronavirus vaccine trial boosted sentiment, with investors also hoping for stimulus to cushion the economic blow from the pandemic.
Total has called off a plan to acquire Occidental Petroleum’s assets in Ghana, which was conditional on the completion of the acquisition of Occidental’s other assets in Algeria, the French energy company said on Monday.
Businesses in the San Francisco Bay Area may open for manufacturing, retail with curbside pickup and warehouse distribution, health directors of five counties that make up most of the region said Monday.
Amazon’s French warehouses are set to reopen on Tuesday with about 30% of employees, three union officials said, ending a month-long dispute over whether the e-commerce giant was doing enough to protect workers from the coronavirus pandemic.
Uber Technologies Inc will concentrate on its core businesses in ride-hailing and food delivery, Chief Executive Officer Dara Khosrowshahi said in an email to employees on Monday, announcing the company’s second round of job cuts during the coronavirus pandemic.
J.C. Penney Co Inc plans to trim its store count by 29% to about 604, as the U.S. department store chain looks to focus on those more profitable, a regulatory filing showed on Monday, two days after it filed for bankruptcy protection.
Americans increased their visits to supermarkets far more than to Walmart Inc stores as panic-buying peaked in mid-March, a Reuters analysis of foot traffic to retailers in the United States shows.
Oil prices jumped on Monday, with both U.S. and Brent benchmarks on track for their highest settles in two months, supported by optimism about resumption in economic activity and steady output cuts from major producers.
Wall Street’s main indexes surged on Monday as encouraging early data from a potential coronavirus vaccine trial boosted sentiment, with investors also counting on more stimulus to rescue the U.S. economy from a deep slowdown.
Uber Technologies Inc will cut about 3,000 jobs, in addition to the 3,700 it had announced earlier this month, as coronavirus-led restrictions sap demand for ride-hailing services, Chief Executive Officer Dara Khosrowshahi said in an email to employees on Monday.
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