Business & Finance News
The S&P 500 and Dow Jones dropped for the third session on Monday following a U.S.-China spat over the origins of the coronavirus outbreak and billionaire Warren Buffett’s Berkshire Hathaway’s move to dump stakes in major U.S. airlines.
The coronavirus crisis will continue to idle U.S. meat plants and slow production, Tyson Foods Inc said on Monday, signaling more disruptions to the U.S. food supply after U.S. President Donald Trump ordered facilities to stay open.
Luxury sports car maker Ferrari still expects to make more than $1 billion in core profit this year, providing a relative beacon of stability in an auto industry ravaged by the coronavirus crisis.
Oil prices were mixed on Monday as countries started to ease coronavirus lockdowns, though a fresh spat between the United States and China over the origin of the virus weighed on prices.
Like the myriad approaches governments are taking to tackle the coronavirus crisis, the way the world’s top banks are calculating their potential losses also differs widely, with puzzling outcomes for investors.
The S&P 500 and Dow Jones indexes retreated on Monday following a U.S.-China spat about the origins of the coronavirus outbreak, while major carriers slumped after billionaire Warren Buffett’s Berkshire Hathaway dumped its stakes in the sector.
General Electric Co said on Monday it was planning to cut the global workforce of its aviation unit this year by as much as 25%, or up to 13,000 jobs, including both voluntary and involuntary layoffs, citing prolonged aircraft reduction schedules caused by the coronavirus pandemic.
Shares of the top four U.S. airlines dropped on Monday after billionaire investor Warren Buffett said Berkshire Hathaway offloaded its entire stake in the carriers last month, adding to the sense of crisis around the industry.
Shares of the top four U.S. airlines dropped on Monday after billionaire investor Warren Buffett said Berkshire Hathaway offloaded its entire stake in the carriers last month, adding to the sense of crisis around the industry.
Czech carmaker Skoda Auto, part of the Volkswagen Group , reported a 25% drop in first-quarter operating profit on Monday, but said the biggest hit from the coronavirus outbreak would come in the second quarter.
U.S. stocks opened lower on Monday following growing U.S.-China tensions about the origins of the coronavirus outbreak, while billionaire Warren Buffett’s admission he had dumped his airline shares crushed major U.S. carriers.
Tyson Foods Inc expects to continue idling meat plants and slowing production because of the new coronavirus, the company said on Monday, signaling more disruptions to the U.S. food supply.
U.S. stocks were set to fall on Monday as a U.S.-Chinese spat about the origins of the coronavirus outbreak worsened while billionaire Warren Buffett’s admission he had dumped his airline shares crushed major U.S. carriers.
Operating profit at Czech carmaker Skoda Auto, part of the Volkswagen Group , fell 25% in the first quarter to 307 million euros as the new coronavirus outbreak started to bite, the company said on Monday.
Luxury sports car maker Ferrari cut its 2020 core profit forecast on Monday due to disruption caused by the coronavirus pandemic, which it said would mainly hit second quarter results.
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