Business & Finance News
Yum Brands Inc said on Wednesday sales in April showed signs of improvement as stay-at-home consumers ordered in more and diners returned to restaurants after certain countries started to ease restrictions.
The U.S. economy contracted in the first quarter at its sharpest pace since the Great Recession as stringent measures to slow the spread of the novel coronavirus almost shut down the country, ending the longest expansion in the nation’s history.
China remains “very, very committed” to meeting its commitments under a Phase 1 trade deal with the United States, despite the unprecedented economic and health impacts of the new coronavirus pandemic, a senior U.S. trade official said on Wednesday.
Yum Brands Inc reported a 7% fall in quarterly comparable store sales on Wednesday, as many restaurants across its brands were closed or limited to delivery and take-away due to lockdowns to curb the spread of the novel coronavirus.
A plan to axe up to 12,000 jobs at IAG’s British Airways underlines CEO Willie Walsh’s desire to survive what is expected to be aviation’s worst downturn without a state bailout.
A gauge of global stocks climbed on Wednesday following encouraging news for an experimental COVID-19 treatment and some positive earnings reports, while beaten-up oil prices surged.
Royal Bank of Scotland chairman Howard Davies said on Wednesday the coronavirus pandemic had “changed everything” and its impact on society and the economy would likely be “stark and long-lasting”.
The Swiss government is working primarily with UBS Group and Credit Suisse on a nearly 1.9 billion Swiss franc ($1.95 billion) package of state-backed loans for the coronavirus-hit aviation sector, it said on Wednesday.
Top Boeing Co shareholder Vanguard Group voted against the planemaker’s chairman Lawrence Kellner, citing “control failures” under its audit committee after two 737 MAX plane crashes, according to a stewardship report provided by a Vanguard representative on Wednesday.
U.S. Senate Majority Leader Mitch McConnell on Wednesday doubled down on his demand that Congress protect businesses from coronavirus-related liabilities in its next legislative package for combating the pandemic.
Boeing Co said on Wednesday it would cut its workforce by about 10%, further reduce 787 Dreamliner production and try to boost liquidity as the coronavirus pandemic drove the planemaker to a net loss for the second straight quarter.
When Tesla Inc reports first-quarter results after the bell on Wednesday, many individual shareholders will not be looking for details on the subject that drives most conversations: the effect of the novel coronavirus pandemic.
The Federal Reserve, which has pumped trillions in emergency funding into U.S. financial markets to stem the damage from the coronavirus pandemic, is expected on Wednesday to reiterate its promise to do whatever it takes to support the world’s largest economy.
U.S. stocks opened higher on Wednesday after Gilead Sciences gave an encouraging update on a potential COVID-19 treatment, while upbeat earnings reports from Boeing and Google-parent Alphabet added to the sentiment.
Wall Street looked set to jump at open on Wednesday after Gilead Sciences reported an encouraging update on a potential COVID-19 treatment, while upbeat earnings reports from Google-parent Alphabet and Boeing boosted the mood.
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