Business & Finance News
Warren Buffett said on Saturday gave an upbeat assessment of the United States’ ability to withstand crises, even as he acknowledged that the coronavirus pandemic could have a wide range of impacts on the economy.
Germany, Italy and Spain have joined a call by 12 European Union governments for the EU’s executive body to suspend rules forcing crisis-hit airlines to offer full cash refunds for cancelled flights, France said in a statement on Saturday.
Warren Buffett’s Berkshire Hathaway Inc is being hit hard by the coronavirus pandemic, posting a record quarterly net loss of nearly $50 billion on Saturday and saying performance is suffering in several major operating businesses.
Warren Buffett’s Berkshire Hathaway Inc on Saturday posted a record net loss of nearly $50 billion as the coronavirus pandemic pummeled its common stock investments, but operating profit rose even as COVID-19 hurt its businesses.
Warren Buffett’s Berkshire Hathaway Inc posted a higher operating profit on Saturday, but the coronavirus pandemic pummeled its common stock investments and led to a record net loss.
French bank Societe Generale expects to have to provision 3.5 billion euros to 5 billion euros ($3.84 bln-5.49 bln) this year because of losses due to the coronavirus crisis, its chief executive said in an interview on Saturday.
Tesla Inc told furloughed employees on Friday that they will remain out of work for at least another week, postponing a plan to resume normal operations on May 4 at its San Francisco vehicle-assembly plant, according to an internal email.
Comcast Corp owned NBCUniversal is evaluating a significant reduction of staff across its portfolio of media and entertainment properties as part of a cost-cutting effort, the Wall Street Journal reported on Friday, citing people familiar with the matter.
In just six weeks, Boeing Co went from seeking government aid to announcing it no longer needed it.
Eager to bolster the healthcare system during the coronavirus pandemic, the U.S. government last month sped $30 billion in stimulus payments to most healthcare providers that billed Medicare last year.
British aero-engine maker Rolls-Royce Holdings Plc is considering cutting up to 15% of its workforce, a source close to the company told Reuters, with its customers cutting production and airlines parking planes due to the coronavirus pandemic.
Wall Street took a nosedive on Friday on fears that the world’s two largest economies could resume a trade war, dragging down a global stocks index on a day that many financial markets were closed for a holiday.
British aero-engine maker Rolls-Royce Holdings Plc is planning to slash up to 8,000 jobs, the Financial Times reported https://www.ft.com/content/027ce53d-8770-48a6-ba7b-000d979033b0 on Friday.
A half-hour staff meeting in a secure location.
Wall Street sold off sharply on Friday after President Donald Trump revived a threat of new tariffs against China in response to the COVID-19 pandemic, which has brought global economies to a grinding halt.
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