Business & Finance News
Apple Inc reported sales and profits that beat Wall Street expectations Thursday, with Chief Executive Officer Tim Cook saying China sales were “headed in the right direction” as that country reopens from the novel coronavirus.
U.S. stocks lost ground on Thursday as grim economic data and mixed earnings prompted investors to take profits at the close of the S&P 500’s best month in 33 years, a remarkable run driven by expectations the economy will soon start recovering from crushing restrictions enacted to curb the coronavirus pandemic.
Amazon.com Inc on Thursday forecast second-quarter profit below estimates, as the e-commerce company spent more on hiring workers and their pay due to a surge in online shopping during the COVID-19 pandemic.
World equity benchmarks dipped on Thursday to close their best month in 11 years as a rebound in oil prices, encouraging early results from a COVID-19 treatment trial and expectations of more government stimulus helped ease the pain of February and March.
Amgen Inc on Thursday reported better-than-expected first-quarter results on Thursday and said it plans to study psoriasis drug Otezla as a potential treatment for COVID-19, the respiratory disease caused by the new coronavirus.
BlackRock Inc on Thursday said it named London-based financial executive Sandy Boss as its new head of investment stewardship, bringing a more international structure to the top asset manager’s voting on topics like climate change and social issues.
Wells Fargo & Co has revived its special group for bad energy loans in recent weeks as the bank braces for more pain from the sharp downturn in oil prices, people familiar with the matter told Reuters.
Ford Motor Co on Thursday outlined the safety measures it will institute to restart its most profitable U.S. plants amid the coronavirus pandemic, expanding on similar efforts by General Motors Co and Fiat Chrysler to convince leaders of the United Auto Workers union to send members back to work.
As the coronavirus pandemic engulfed the United States, Joe Shia, a consultant to Chinese medical companies, said he was bombarded with inquiries from American firms who saw a golden opportunity in selling tests to determine coronavirus immunity.
U.S. stocks fell on Thursday as grim economic data and mixed earnings prompted investors to take some profits at the close of Wall Street’s best month in decades.
Boeing Co’s recently aborted $4.2 billion agreement to buy the commercial jet-making operations of Brazil’s Embraer specifically forbade either party from calling it off because of a pandemic or a global economic recession, Reuters has found.
Ford Motor Co on Thursday outlined the safety measures it will institute to restart its most profitable U.S. plants amid the coronavirus pandemic, expanding on similar efforts by General Motors Co and Fiat Chrysler to convince leaders of the United Auto Workers union to send members back to work.
Wall Street’s main indexes fell on Thursday after a strong month of gains as millions of more Americans applied for jobless claims, taking the shine off a strong rally this month and eclipsing upbeat results from Facebook and Tesla.
The Italian airport operators association, Assaeroporti, said on Thursday proposals to keep some seats empty on planes for social distancing would not be workable if only imposed by Italy and would make the domestic sector vulnerable to foreign rivals.
Berkshire Hathaway Inc’s annual meeting will be nothing like the extravaganzas of years past, but will give Warren Buffett a chance to show how resilient his cash-rich conglomerate may be to the coronavirus pandemic, and the investment opportunities it offers.
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