Business & Finance News
Oil prices were mixed on Thursday, as Brent crude rose modestly while U.S. futures ended unchanged at an 18-year-low after some European countries said they would relax coronavirus restrictions even though OPEC lowered its global oil demand forecast.
Lagardere gained almost 13% on Thursday after Les Echos reported the French multimedia conglomerate could get help from French tycoon Vincent Bollore and Marc Ladreit de Lacharrière, who heads finance group Fimalac, in its fight with Amber Capital.
World stock markets seesawed while bond yields retreated on Thursday as dire U.S. jobless data underscored a deepening downturn amid the coronavirus outbreak and tamped down investor hopes a listless economy would soon be back on its feet.
The Nasdaq rose in afternoon trading on Thursday as Amazon.com and Netflix surged to record highs, while worries about first-quarter earnings weighed on the Dow and limited gains in the S&P 500.
Activist shareholders are likely to scale back campaigns in the coming weeks as target companies brace for a deep recession and their favorite calls for change – ranging from mergers to returning cash – are ignored during the coronavirus pandemic.
Apple Inc said on Thursday it would reopen its sole retail store in South Korea on April 18, marking it the first site to return to business after it closed all stores outside Greater China last month due to the coronavirus outbreak.
The U.S. Transportation Department said on Thursday it had rejected most requests by Jetblue Airways Corp and Spirit Airlines to halt additional flights in the wake of the pandemic that has sent passenger traffic down by 95%.
Air traffic in Latin America in April has fallen 91% compared to a year earlier due to the coronavirus outbreak that fully grounded two of the region’s largest airlines and canceled almost all other flights, industry group ALTA said on Thursday.
Oil prices slid, with U.S. crude on track for its lowest close since 2002, after OPEC lowered its global oil demand forecast due to the plunge in demand delivered by the coronavirus outbreak.
Japanese automaker Nissan Motor Co said Thursday it will extend a shutdown of U.S. manufacturing plants until mid-May, citing the ongoing impact of the COVID-19 pandemic.
Italy’s budget deficit will be near 10% of gross domestic product this year, a senior government official told Reuters, as Rome increases borrowing to try to soften the impact of the new coronavirus and the economy plunges into a deep recession.
The United States opposes creation of liquidity through issuance of the International Monetary Fund’s Special Drawing Rights (SDRs) as part of the response to the coronavirus pandemic, U.S. Treasury Secretary Steven Mnuchin said on Thursday.
Italian trade unions said on Thursday they had agreed with CNH Industrial on health and security measures so the vehicle maker is ready to resume work as soon as lockdown rules are eased.
World stock markets seesawed while bond yields retreated on Thursday as dire U.S. jobless data underscored a deepening downturn amid the coronavirus pandemic and tamped down investor hopes a listless economy would soon be back on its feet.
Canada’s privately held WestJet Airlines is laying off 1,700 pilots amid travel bans to curb the COVID-19 pandemic, according to a company memo seen by Reuters on Thursday.
Copyright 1997-2019 Wall Street Reporter / Octagon Media Corp.
