Business & Finance News
Uber Technologies Inc was ordered by a U.S. judge on Friday to face a lawsuit claiming its illegal predatory pricing and other anticompetitive practices stifled competition, and drove rival Sidecar Technologies Inc out of business.
The coronavirus pandemic has upended U.S. equities trading with unprecedented market volatility and forced bourses like the New York Stock Exchange to close their trading floors, raising questions about the need for such spaces.
Wall Street sold off sharply on Friday as investor risk appetite was soured by the revived specter of tariffs against China, threatened anew by U.S. President Donald Trump in retaliation for the COVID-19 pandemic which has brought global economies to a grinding halt.
After rolling out trillions of dollars in support for the U.S. economy during the coronavirus pandemic, Federal Reserve officials have begun warning of potentially lasting scars to the workforce and productivity if the recovery is not handled well.
Spain’s Telefonica SA is in talks with billionaire John Malone’s Liberty Global Plc to explore a merger of its British mobile operator O2 with cable network company Virgin Media, two sources familiar with the matter said.
With the largest U.S. airlines now set to mandate – and provide – facial coverings for all passengers over the next two weeks, many are turning their focus to other measures to prevent the spread of the new coronavirus during air travel.
Wall Street stocks dropped sharply on Friday as investor risk appetite was soured by the revived specter of tariffs against China, threatened anew by U.S. President Donald Trump in retaliation for the COVID-19 pandemic which has brought global economies to a grinding halt.
Shares of Tesla Inc tumbled 9% on Friday after Chief Executive Officer Elon Musk tweeted that the electric carmaker’s high-flying stock was overly expensive.
Exxon Mobil Corp and Chevron Corp are slamming the brakes on U.S. shale oil production at a time when crude prices and fuel demand have plunged due to global lockdowns to fight the coronavirus pandemic.
United Airlines Holdings Inc expects to reduce its daily cash burn to below $40 million in the third quarter, even with zero passenger revenues and no additional capital raisings, and will continue taking jet deliveries this year and next, executives said on a conference call.
The head of Embraer’s commercial aircraft unit defended the benefits of a $4.2 billion tie-up abandoned by Boeing Co last week, but said the Brazilian aerospace group was focusing on its future as a re-united company.
Spain’s Telefonica SA is in talks with billionaire John Malone’s Liberty Global Plc to explore a merger of its British mobile operator O2 with cable network company Virgin Media, a source familiar with the matter said.
U.S. stocks fell on Friday after President Donald Trump threatened to impose new tariffs on Beijing over the coronavirus crisis, while business warnings from Amazon.com and big oil firms highlighted the pain inflicted by global lockdowns.
Spain’s Telefonica SA and billionaire John Malone’s Liberty Global Plc are exploring a combination of their UK operations, Bloomberg News reported on Friday.
Norwegian Air’s bondholders have turned down a proposed debt-to-equity swap, casting doubt on a plan that is vital to help the indebted airline survive the COVID-19 pandemic, although talks will still continue.
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