Business & Finance News
JPMorgan Chase & Co said on Friday that it received government approval to process roughly $15 billion in loans through the Small Business Administration’s Paycheck Protection Program, bringing its total number of funded loans through the program to about $29 billion.
Wall Street’s main indexes fell on Friday after President Donald Trump threatened to slap new tariffs on China over the coronavirus crisis, while a profit warning from Amazon added to the gloom.
McDonald’s Corp said it would reopen 15 restaurants in the United Kingdom this month, only for delivery, leaving some fast food fans cheering.
Shares of Tesla Inc tumbled 10% on Friday following a tweet from Chief Executive Elon Musk’s Twitter account that the electric car maker’s recently high-flying stock is overly expensive.
A decline on Wall Street dragged stocks across the world further down on Friday on concerns that the two largest economies could resume a trade war, with many financial markets globally closed for a holiday.
U.S. manufacturing activity plunged to an 11-year low in April as the novel coronavirus wreaked havoc on supply chains, suggesting the economy was sinking deeper into recession.
The largest U.S. airlines are moving rapidly to mandate facial coverings for all passengers, with Southwest Airlines Co and Alaska Airlines on Friday joining other major airlines in imposing the measure to address the spread of the coronavirus and convince reluctant passengers to resume flying.
The U.S. House of Representatives Judiciary Committee on Friday called on Amazon.com founder Jeff Bezos to testify to the panel about allegations that the online retailer uses data from its own third-party sellers to create competing products.
Wall Street’s main indexes fell on Friday after President Donald Trump threatened to slap new tariffs on China over the coronavirus crisis, while a profit warning from Amazon added to the gloom.
The U.S. House of Representatives Judiciary Committee on Friday called on Amazon founder Jeff Bezos to testify to the panel about “competition concerns” related to the company’s business practices.
Options investors are preparing for more volatility ahead despite last month’s sharp rebound in U.S. stocks, reflecting doubts that markets will be quick to return to their former highs in the middle of the coronavirus pandemic.
The head of the commercial aircraft unit of Embraer defended the benefits of a $4.2-billion tie-up abandoned by Boeing Co but said the Brazilian aerospace group was focusing on its future as a re-united company.
Ford Motor Co said on Friday Executive Chairman Bill Ford Jr’s daughter would immediately join electric vehicle startup Rivian’s board of directors.
China has headed off on Labour Day holidays but its leaders won’t be resting easy. U.S. President Donald Trump has ratcheted up anti-China rhetoric again. He is threatening trade tariffs to punish Beijing for its alleged failure to contain the coronavirus, even accusing a Chinese lab of manufacturing the pathogen.
The top Republicans in the U.S. Congress displayed a united front on Friday in their drive to include coronavirus-related liability protections for businesses, saying such measures will be crucial to talks about future relief legislation.
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