Business & Finance News
U.S. companies are grappling with how best to provide guidance on their earnings outlook as the novel coronavirus takes uncertainty to new heights and exposes them to potential shareholder lawsuits if forecasts prove misplaced.
Bank of America Corp recorded a 48.5% fall in quarterly profit as the bank set aside $3.6 billion for potential loan losses tied to the coronavirus pandemic.
An Apple collaboration with Google will make it quicker to get systems for tracing coronavirus infections up and running, the prime mover behind a European effort to support the smartphone technology says.
U.S. stock index futures retreated on Wednesday for a second time this week, as a slide in oil prices pressured energy stocks ahead of what is expected to be another dismal round of first-quarter earnings reports.
UnitedHealth Group Inc , the largest U.S. health insurer, on Wednesday beat quarterly profit expectations, boosted by strength across its businesses, and maintained its 2020 outlook while it continues to assess the impact of COVID-19.
Saudi Aramco has offered oil refineries in Asia and Europe the option to defer payments for crude cargo deliveries by up to 90 days as plants struggle with shrinking demand, refining industry sources said.
Ukraine, one of world’s top grain exporters, is ready to ban wheat exports if sales exceed limits agreed with traders, the deputy economy minister in charge of agriculture told Reuters on Wednesday.
Abu Dhabi Commercial Bank , a key lender to NMC Health , said on Wednesday it had filed a criminal complaint against a number individuals linked to the hospital operator with the Attorney General in Abu Dhabi.
UnitedHealth Group Inc reported a 2.5% fall in first-quarter profit on Wednesday, hurt by higher medical costs.
Easing bank rules is among the “bold and extraordinary” steps needed to beat the coronavirus, but it must be temporary and limited to avoid undermining financial stability after the epidemic has passed, central bankers said on Wednesday.
Oil fell 5% to around $28 a barrel on Wednesday, pressured by reports suggesting persistent oversupply and collapsing demand due to global coronavirus-related lockdowns.
Global share markets dipped into the red on Wednesday as warnings of the worst global recession since the 1930s underlined the economic damage done during the coronavirus panemdic even as some countries try to re-open for business.
Credit Suisse has lost a bid to block an auditor appointed by Switzerland’s financial supervisor as part of its probe into the bank’s spying scandal, court documents show, with judges ruling the Swiss bank’s objections were unfounded.
Shareholder advisory groups are divided over whether to endorse the management and directors at German drugs and pesticides company Bayer , according to recommendations submitted by proxy voting firms.
Oil prices climbed on Wednesday, bouncing back from the previous session’s large losses, as investors looked for bargains and supported by hopes that consuming countries will look to fill their strategic reserves.
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