Business & Finance News
BlackRock Inc , the world’s largest asset manager, cut total compensation for Chairman and Chief Executive Officer Larry Fink by 8.4% in 2019, a second straight year of decline, according to a filing on Thursday.
Wall Street ended the trading week on a high note on Thursday as the U.S. Federal Reserve unleashed its latest program designed to buoy local governments and businesses crushed by moves to stem the coronavirus outbreak.
The makers of specialized cameras to quickly scan for fevers as people enter crowded workplaces are grappling with soaring demand while confronting supply disruptions, forcing some to prioritize customers such as hospitals, executives told Reuters.
OPEC and other major oil producers on Thursday discussed potential big output cuts in the face of a huge fall in demand due to the coronavirus crisis.
Wall Street rose for the third time in four days on Thursday as the U.S. Federal Reserve unleashed its latest program designed to buttress local governments and businesses crushed by moves to slow the coronavirus outbreak.
U.S. Treasury Secretary Steven Mnuchin said on Thursday that the American economy could start to reopen for business in May, despite experts’ emphasis on prolonged social distancing measures to defeat the coronavirus.
The U.S. Federal Reserve and the Bank of England ramped up their emergency responses to the world’s escalating coronavirus recession on Thursday as they pushed deeper into territory once considered fraught with risk for central bankers.
Uber Technologies Inc on Thursday said it plans to ship millions of face masks to its active drivers and food delivery people around the world to help prevent the spread of the novel coronavirus.
A staggering 16.8 million Americans have filed for unemployment benefits in the last three weeks, with weekly new claims topping 6 million for the second straight time last week as the novel coronavirus outbreak relentlessly savages the economy.
Airbus’s decision to cut output of its best-selling jet by a third amid coronavirus marks a huge shift for the European planemaker, which has enjoyed virtually unbroken growth since it began competing toe-to-toe with Boeing almost 20 years ago.
The U.S. Federal Reserve responded fast to the coronavirus crisis with open-ended programs to keep financial markets running and ensure major companies could raise cash as they usually do through large capital markets.
Morgan Stanley Chief Executive Officer James Gorman was diagnosed as being infected by the novel coronavirus after first experiencing symptoms nearly a month ago and has fully recovered, according to a video that was sent to the bank’s employees on Thursday.
OPEC and it allies held talks on Thursday on record oil output curbs of 15 million to 20 million barrels per day (bpd), or 15% to 20% of global supplies, to support prices hammered by the coronavirus crisis, OPEC and Russian sources said.
U.S. House Speaker Nancy Pelosi said on Thursday the country’s smallest businesses need to be protected against the ravages of the coronavirus outbreak and pushed for $60 billion to be allocated to those enterprises in the next funding allocation.
A staggering 16.8 million Americans have filed for unemployment benefits in the last three weeks, with weekly new claims topping 6 million for the second straight time last week as the novel coronavirus outbreak relentlessly savages the economy.
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