Business & Finance News
The German foreign ministry has restricted use of the video conferencing service Zoom to fixed-connection computers due to concerns about security issues, two German government sources said.
Zoom Video Communications Inc has tapped former Facebook security chief Alex Stamos as an adviser as safety and privacy concerns about its fast-growing video-conferencing app drive a global backlash against the company.
U.S. crude futures rose as much as 6% in early trade on Thursday ahead of a crucial meeting between the Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia – a group known as OPEC+.
Costco Wholesale Corp reported a 9.6% jump in March comparable sales, as customers stocked up on essentials to weather coronavirus-led lockdowns.
Starbucks Corp on Wednesday forecast a 47% drop in second-quarter earnings, scrapped its full-year forecast and warned that the financial hit from the coronavirus pandemic would extend into the final quarter of 2020.
The U.S. government’s $350 billion program to help ailing businesses took an important step forward on Wednesday, with the launch of a system that will allow hundreds of new lenders to participate in the unprecedented scheme.
The U.S. economy is headed for a return to growth in the second half of the year after a steep decline this quarter, Dallas Federal Reserve Bank President Robert Kaplan said on Wednesday.
U.S. Treasury officials have asked airlines seeking government payroll support to provide additional detailed information on capital structure, liquidity and loyalty programs, people briefed on the matter told Reuters.
Lufthansa will seek state aid in Germany, Switzerland, Belgium and Austria as the coronavirus crisis that forced it to ground almost all of its planes will persist longer than feared, the German airline’s chief executive said.
Investors are betting on stocks to remain volatile well into the year, suggesting that many expect the long-term economic and public health impact of the pandemic caused by the novel coronavirus to continue roiling markets despite a recent rally.
Five Democratic lawmakers on Wednesday wrote Amazon.com Inc to raise concern about its firing of a worker who protested warehouse operations during the coronavirus pandemic, according to a copy of the letter seen by Reuters.
The economic downturn from the coronavirus outbreak in the United States will be deep and any recovery will depend on consumers feeling safe enough to start spending again, Richmond Federal Reserve Bank President Thomas Barkin said on Wednesday.
U.S. stock markets rose on Wednesday on hopes the coronavirus outbreak in the United States was close to its peak, with health insurers boosted by Democratic presidential candidate Bernie Sanders suspending his campaign.
Crude prices edged up on Wednesday, buoyed by hopes that OPEC and its allies will strike a production cut agreement, but surging U.S. crude inventories muted the gains.
The U.S Justice Department on Wednesday recommended U.S. regulators approve Alphabet Inc unit Google’s request to use part of an U.S.-Asia undersea telecommunications cable after the company warned it would face significantly higher prices to carry traffic by other means.
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