Business & Finance News
Major U.S. firms and trade groups want the U.S. Trade Representative’s Office to waive tariffs on a wide range of Chinese-made products as a result of the coronavirus pandemic, including drones, robots, personal computers and 3D printers.
U.S. stocks ended higher on Monday as increases in large tech and internet companies and oil price gains outweighed concerns about the latest U.S.-China tensions and downbeat sentiment from the annual meeting of Warren Buffett’s Berkshire Hathaway.
The dollar rose on risk aversion and global stock markets fell on Monday as U.S.-Chinese bickering over the origin of the coronavirus outbreak sparked fear of a new trade war, but Wall Street rebounded as the lifting of lockdowns in some U.S. states boosted optimism.
Insurer American International Group Inc on Monday posted a 93% drop in quarterly adjusted profit, as it set aside money to cover claims related to the COVID-19 outbreak, which it called the single largest catastrophe loss the industry has ever seen.
U.S. stocks ended higher on Monday as increases in large tech and internet companies and oil price gains outweighed concerns sparked by fresh U.S.-China tensions and downbeat sentiment from the annual meeting of Warren Buffett’s Berkshire Hathaway.
Air France-KLM’s French unions on Monday criticised calls by their Dutch counterparts for KLM to be given greater autonomy, amid signs that a multibillion-euro coronavirus bailout is increasing tensions within the airline group.
The U.S. Securities and Exchange Commission (SEC) on Monday said it would provide relief to smaller firms seeking to raise capital via online platforms to meet “urgent funding needs” due to the coronavirus-related disruption.
U.S. stocks ended higher on Monday as gains in large tech and Internet companies and rising oil prices outweighed concerns sparked by fresh U.S.-China tensions and downbeat sentiment from the annual meeting of Warren Buffett’s Berkshire Hathaway.
Oil was up 3% on Monday as more countries announced they would begin easing coronavirus lockdowns and as crude supply cuts by the world’s top producing nations and companies take hold.
France has rejected a request from e-commerce giant Amazon to tap a state-funded scheme to subsidise furloughed employees at its six closed warehouses in the country.
Global stock markets fell on Monday on concerns U.S.-Chinese bickering over the origin of the coronavirus outbreak will ignite a new trade war, speculation that strengthened the dollar and drove gold prices higher.
The S&P 500 and Dow Jones dropped for the third session on Monday following a U.S.-China dispute over the origins of the coronavirus outbreak and a move by billionaire Warren Buffett’s Berkshire Hathaway to dump stakes in major U.S. airlines.
Investors are treating the U.S. equity market’s blistering rally with a dose of caution, socking away cash, staying on the sidelines or buying insurance against a reversal even as markets scream higher in the midst of the coronavirus pandemic.
Amazon plans to extend the closure of its French warehouses until May 8 included, the e-commerce giant said on Monday.
Oil rose on Monday as more countries announced they would begin easing coronavirus lockdowns and crude supply cuts take hold, though a fresh spat between the United States and China over the origin of the virus limited the rise in prices.
Copyright 1997-2019 Wall Street Reporter / Octagon Media Corp.
