Business & Finance News
Warren Buffett’s Berkshire Hathaway Inc’s annual meeting on May 2 will break with tradition and be held virtually, as the coronavirus pandemic halts large gatherings.
(This story corrects headline and first paragraph in April 23 story after company clarifies it had mistakenly termed the 300 million as users instead of meeting participants)
A fourth bill to provide stimulus to the U.S. economy may not be needed if states are able to successfully reopen their economies “relatively quickly,” as some forecasters and equity markets expect, a White House economic adviser said on Thursday.
Oil prices jumped on Thursday, as signs the U.S. crude glut was not growing as quickly as many had feared brought an upbeat close to one of the most volatile months for oil trading in history.
Macy’s Inc plans to reopen 68 U.S. stores on Monday in states that have loosened coronavirus lockdowns, the department store operator said on Thursday, as more retailers sought to get business going after a crushing month of closures.
Millions more Americans filed claims for unemployment benefits last week, suggesting that layoffs were spreading to industries that were not initially directly impacted by business closures and disruptions related to the novel coronavirus.
World equity benchmarks dipped on Thursday yet remained on pace for their best month on record 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.
JPMorgan Chase & Co said it has submitted roughly 220,000 applications worth $17.8 billion to the Small Business Administration’s Paycheck Protection Program to help small businesses hurt by the coronavirus shutdown.
U.S. stocks fell on Thursday 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 U.S. Federal Reserve on Thursday widened a key program to nurse the “Main Street” economy through the coronavirus pandemic, agreeing to lend to even larger firms, taking on more risk in participation with banks, and hinting at some form of dedicated help for non-profits.
Kellogg Co said on Thursday it would push product launches to the second half of 2020, as the breakfast cereal maker invests into additional warehouse space and logistics to meet higher demand brought on by coronavirus-led stockpiling.
AT&T Inc said on Thursday it will bring its advertising unit Xandr under its WarnerMedia label, which is set to launch its streaming channel HBO Max in May.
A fourth bill to provide stimulus to the U.S. economy may not be needed if states are able to successfully reopen their economies “relatively quickly,” as some forecasters expect, a White House economic adviser said on Thursday.
Recent strains in the relationship between the United States and China make it especially important to establish a policy of ‘competitive neutrality’ the American Chamber of Commerce in China said on Thursday.
The Federal Reserve expanded its Main Street lending program to be sure it captured larger firms that were still not big enough to tap public capital markets, the central bank said.
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