Business & Finance News
President Donald Trump said on Monday that his administration was close to completing a plan to re-open the U.S. economy, which has been largely shut down to slow the spread of the novel coronavirus.
Major meat companies in the United States and Canada have closed plants temporarily due to cases of the new coronavirus among employees and concerns about its spread.
President Donald Trump said on Monday that his administration was close to completing a plan to re-open the U.S. economy, which has been largely shut down to slow the spread of the novel coronavirus.
Walt Disney Co said on Monday it has entered an unsecured credit agreement for $5 billion, at a time when companies across industries are scrambling to bolster their liquidity to weather the fallout from the coronavirus crisis.
Exxon Mobil Corp on Monday raised $9.5 billion in new debt, with the largest U.S. oil producer seeking to bolster its finances while debt markets remain open to new deals.
News Corp said on Monday that its newspaper advertising revenue would take a hit from economic disruptions caused by the spread of the coronavirus pandemic.
With much of the world living in lockdown, the spread of the new coronavirus, SARS-CoV-2, that was first detected in China late last year is beginning to slow in some places. As of April 12, 1.8 million had been infected and 115,000 killed by COVID-19, the disease caused by the virus.
The Dow and S&P 500 fell on Monday after last week’s strong gains, as U.S. companies prepared to kick off a quarterly earnings season expected to be rough due to the coronavirus pandemic, while Amazon.com gains helped the Nasdaq end higher.
Stocks on Wall Street slid on Monday over concerns of what the coronavirus pandemic will do to corporate earnings while crude prices were mixed as a global deal on record output cuts failed to quell doubts the pact would head off an oil glut.
Oil prices were mixed on Monday, as the historic production-cut deal inked by major global oil producers was not enough to assuage existing worries about the demand destruction brought on by the coronavirus pandemic.
U.S. Treasury officials have asked airlines seeking money from a $25 billion fund for payroll support to provide detailed information on their capital structure, liquidity and collateral, people briefed on the matter said.
The U.S. Treasury Department is holding firm on the terms of a $25 billion offer for government aid to airlines to help them meet payroll during the coronavirus downturn, officials said on Monday, and the plan could give the government more than 3% of American Airlines Group Inc .
General Electric Co offered on Monday to buy back at least $9 billion in debt as part of a plan to cut its financial risk and manage liquidity in response to the downturn in business caused by the coronavirus pandemic.
Ford Motor Co said on Monday it is producing face masks at a Michigan plant to protect its workers from the coronavirus pandemic and is seeking to have those masks certified for medical use.
McDonald’s Corp has been hit with a class action lawsuit accusing it of subjecting female employees in its corporate-owned fast-food restaurants in Florida to widespread sexual harassment.
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