Business & Finance News
Wall Street’s main indexes were set to fall at the open on Monday after last week’s rally, as investors worried about a second wave of coronavirus infections with the reopening of several economies.
Oil prices rose on Monday after leading exporter Saudi Arabia said it will reduce output by 1 million barrels per day (bpd) on top of reductions agreed under an OPEC+ pact, though gains were capped by fears of a second wave of coronavirus infections.
Stock markets fell on Monday after reports of a pick-up in new coronavirus cases rattled investors, who worried that it could slow or reverse the loosening of lockdown measures.
British Airways owner IAG has exhausted every avenue to shore up its finances and is burning through cash, its CEO said on Monday, as the aviation industry warned of the fresh damage it would suffer if Britain quarantines international arrivals.
U.S. stock index futures fell on Monday following a strong week of gains for Wall Street, as investors turned cautious about a second wave of coronavirus infections with several countries reopening economies.
Marriott International Inc fell short of already drastically lowered expectations for quarterly profit on Monday, as bookings plunged due to coronavirus-led travel restrictions.
Athletic apparel maker Under Armour Inc on Monday reported a 23% fall in quarterly revenue, as retailers across the world remained shut due to the COVID-19 pandemic.
British Airways owner IAG has exhausted every avenue to shore up its finances and is burning through cash, its CEO said on Monday, as the aviation industry warned of the fresh damage it would suffer if Britain quarantines international arrivals.
Starbucks Corp said on Monday it would begin a phased reopening of all its drive-thru locations and some takeaway-only stores in the United Kingdom as the country eases coronavirus-led restrictions on road travel.
U.S. stock index futures dipped on Monday following a strong week of gains for Wall Street, as investors turned cautious about a second wave of coronavirus infections with several countries reopening economies.
Stock markets gave up their early gains on Monday after reports of a pick-up in new coronavirus cases that threatens to slow or reverse the loosening of lockdown measures.
Eighty-one percent of small U.S. companies surveyed by Veem, a global payments network, expect the new coronavirus pandemic to affect their business over the next 12-16 months, and nearly 90% are bracing for an economic slowdown, the company said Monday.
Oil prices fell on Monday as a new wave of coronavirus infections in some countries and concern over a persistent glut cancelled out support from supply cuts by the world’s biggest producers.
EU antitrust regulators will decide by June 17 whether to clear Fiat Chrysler and Peugeot maker PSA ‘s $50 billion merger, according to a European Commission filing on Monday.
British Airways-owner IAG is not in a position where it has to ask for a specific bailout from the government to see it through the coronavirus pandemic, its chief executive said on Monday.
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