Business & Finance News
Wall Street’s main indexes were set to open lower on Thursday at the end of a strong month for stock markets globally as a grim U.S. jobless claims report overshadowed upbeat results from Facebook and Tesla.
Luxury carmaker Ferrari said on Thursday it would restart operations at its Maranello and Modena plants on May 4, when Italy is set start lifting lockdown measures imposed in early March to contain the spread of coronavirus.
Pilots at Lufthansa are ready to sacrifice up to 45% of their salaries for more than two years to help cut costs, their union Cockpit said on Thursday, as the airline struggles with the impact of the coronavirus pandemic.
American Airlines on Thursday posted a $2.2 billion net loss, its first quarterly loss since emerging from bankruptcy in 2013, and warned of a roughly $70 million per day cash burn in the second quarter as the coronavirus pandemic halts travel.
Oil prices jumped on Thursday, lifted by signs the U.S. crude glut is not growing as quickly as expected and indications of a rise in fuel demand that has been crushed by the coronavirus.
Wall Street brokerages gave a resounding thumbs-up to Tesla Inc’s first-quarter numbers on Thursday, lauding the electric carmaker’s improved gross margins and sending its shares 8% higher in trading before the opening bell.
Thyssenkrupp has secured about 1 billion euros ($1.1 billion) of state aid to tide it over until it receives the money from the sale of its elevator division, two sources said on Thursday, the latest German company to tap government funding.
Breakfast cereal maker Kellogg Co on Thursday reported a 23% rise in quarterly profit as consumers in North America and Europe stocked up on its packaged foods amid coronavirus-driven lockdowns.
A group of leading German travel start-ups appealed to U.S. tech giant Google on Thursday to offer them easier terms on paying for advertising to help them ride out the coronavirus pandemic that has devastated their business.
U.S. oil and gas company ConocoPhillips reported a 58% plunge in adjusted quarterly profit on Thursday, weighed down by lower output and an unprecedented plunge in crude prices.
Comcast Corp on Thursday reported its best quarter of broadband net additions in 12 years, but revenue fell shy of Wall Street’s estimate as the coronavirus pandemic hurt advertising.
Twitter Inc on Thursday said that its ads sales had slightly rebounded in Asia after a plunge due to the coronavirus outbreak and that it had accelerated work on tools to attract key advertisers, becoming the latest tech company to report a lighter blow from the pandemic than forecast.
McDonald’s Corp reported a 16.7% slide in quarterly profit on Thursday as most of its restaurants across the globe limited their services to deliveries and take-aways to halt the spread of the coronavirus pandemic.
Dan Digre, head of MISCO Speakers, was on edge before the coronavirus outbreak hit the global economy. Payment of hundreds of thousands of dollars in Chinese tariffs had wiped out the profit and dwindled the cash balance of the Minnesota-based loudspeaker maker.
Shareholder support for Credit Suisse Chairman Urs Rohner dropped to its lowest level ever on Thursday, as Rohner told the Swiss bank’s annual meeting that its search for his successor was well under way.
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