Business & Finance News
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 coronavirus.
Nissan will restart phased production in early June at its northern English Sunderland factory, Britain’s biggest car plant, as the sector tries to resume operations amid the coronavirus outbreak.
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.
The S&P 500 and Dow Jones indexes dipped on Thursday as a grim U.S. jobless claims report took the shine off a strong month for stock markets globally, but encouraging quarterly earnings reports from Facebook and Tesla supported the Nasdaq.
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.
The U.S. economy may be able to weather the hit from the coronavirus with the stimulative policies already in the pipeline without the need for more measures to spur activity, a White House adviser said on Thursday.
Twitter Inc on Thursday reported higher first-quarter revenue and a smaller loss than analysts had expected amid the coronavirus pandemic, but its shares fell as investors fretted about potential weakness in the second quarter.
U.S. oil and gas company ConocoPhillips said on Thursday it would sharply reduce oil production in coming weeks, aiming to shut in 35% of its total output by June amid weak energy prices that led to a loss of $1.7 billion in the first quarter.
Oil prices jumped for a second day on Thursday, lifted by signs the U.S. crude glut is not growing as quickly as expected and clawing back ground at the end of a month of tumbles wrought by coronavirus fears that caused futures to plumb two-decade lows.
McDonald’s Corp missed Wall Street estimates for quarterly profit on Thursday as some restaurants in Europe and elsewhere remained closed to curb the spread of the coronavirus pandemic.
Comcast Corp on Thursday reported first quarter revenue that fell shy of Wall Street’s estimate, and warned of a weaker second quarter as a result of the coronavirus impact on advertising, theme parks, and films.
Twitter Inc on Thursday reported higher first-quarter revenue and a smaller loss than analysts had expected, but its shares fell as investors fretted about potential weakness in the second quarter.
World stocks suffered a slip on their way to record monthly gains on Thursday, as the European Central Bank held back from providing another instant hit of stimulus and millions more Americans filed unemployment claims.
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.
Renault PA> has put one of its historic buildings up for sale in Boulogne-Billancourt, the birthplace of the carmaker, to cut costs, three sources close to the company told Reuters.
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