Business & Finance News
Snap Inc on Tuesday beat Wall Street estimates for quarterly revenue and user growth for its Snapchat app, as more people seek entertainment while they stay at home during the global coronavirus pandemic.
Wall Street tumbled for a second straight day on Tuesday as a collapse in U.S. oil prices and glum forecasts by companies worsened fears of a deep economic downturn.
Netflix Inc on Tuesday reported more paid subscribers than expected in the first quarter, as global lockdowns to curb the spread of the novel coronavirus forced people to stay at home and watch shows online including its wildly popular “Tiger King.”
The crash in U.S. crude prices has turned a reliable commodity less than worthless and given fresh urgency to bearish voices, who say it sounds alarm bells for global growth and are bracing for a catastrophic collapse in asset prices.
A nearly $500 billion spending deal reached by U.S. Senate leaders on Tuesday does not expand payroll assistance to struggling local newspapers and broadcast stations, whose advertising revenues have plummeted during the coronavirus pandemic.
Blockchain firm Ripple sued Alphabet Inc’s YouTube on Tuesday, alleging the video-sharing platform failed to protect consumers from cryptocurrency “giveaway” scams that use fake social media profiles to dupe victims into sending money.
The U.S. housing regulator on Tuesday provided some long-awaited relief for mortgage firms facing billions of dollars of missed home loan repayments, although industry officials said more liquidity assistance was needed.
A California regulator has asked PG&E Corp for governance and oversight changes to its reorganization plan, while proposing about $2 billion in penalties for the San-Francisco based utility’s role in causing the devastating 2017 and 2018 wildfires in California.
More than half the U.S. House of Representatives could return to the capitol on Thursday to pass a coronavirus relief bill that would fund small business loans and hospital aid, chamber’s second-most powerful Democrat said on Tuesday, adding he thinks both parties would approve the legislation.
U.S. congressional leaders and the White House agreed on Tuesday on nearly $500 billion more in coronavirus relief for the U.S. economy, bringing to nearly $3 trillion the amount allocated to deal with the crisis.
U.S. Senate Majority Leader Mitch McConnell welcomed a bipartisan agreement on additional coronavirus relief on Tuesday and said he hoped the Senate would quickly pass it.
A U.S. labor and activist coalition said employees of Amazon.com Inc would take off work starting Tuesday to draw attention to what it says are unsafe conditions at warehouses during the coronavirus pandemic.
Stock markets around the world fell on Tuesday, as oil prices kept sliding a day after May U.S. crude oil futures turned negative for the first time, shining a light on the depth of economic damage from the coronavirus pandemic.
Gucci sales were hit hard early in the coronavirus crisis due to the fashion group’s reliance on Chinese customers, owner Kering said on Tuesday, adding that it was premature to say how quickly China sales would rebound.
An Indian court on Tuesday quashed efforts by the federal government to impose a ban on auditors Deloitte Haskins & Sells LLP and a KPMG affiliate for their alleged abetment of a financial fraud at a domestic firm.
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