Business & Finance News
Wall Street’s main indexes opened lower on Friday as the novel coronavirus brought the longest U.S. employment expansion on record to an abrupt end.
U.S. Treasury Secretary Steven Mnuchin said on Friday that community banks have processed hundreds of small-business loans aimed at shoring up the economy during the global coronavirus pandemic, and sounded a positive note about a new program that lenders have greeted with skepticism.
Ford Motor Co said on Friday Chief Executive Officer Jim Hackett’s total compensation fell to $17.4 million in 2019 from $17.8 million in 2018.
The dollar resumed its climb against major currencies on Friday as investors took refuge in safety bids amid worsening economic fallout from the coronavirus pandemic.
The U.S. economy shed 701,000 jobs in March, abruptly ending a historic 113 straight months of employment growth as stringent measures to control the novel coronavirus outbreak shuttered businesses and factories, confirming a recession is underway.
The U.S. economy abruptly ended a historic 113 straight months of employment growth in March, as stringent measures to control the novel coronavirus pandemic shuttered businesses and factories, all but confirming a recession is underway.
Alphabet Inc’s Google has published charts showing how the coronavirus has brought hard-hit Italy to a standstill, led to runs on grocery stores around the world and prompted a stark drop in going-out between Mardi Gras and St. Patrick’s Day.
Google on Thursday published reports for 131 countries showing whether visits to shops, parks and workplaces dropped in March, when many governments issued stay-at-home orders to rein in the spread of COVID-19.
Air France-KLM is in talks with banks to receive up to 6 billion euros ($6.5 billion) in loans guaranteed by the French and Dutch governments, as the airline group braces for a sustained coronavirus shutdown, sources told Reuters.
Two hauliers load their lorries with what is fast becoming a precious commodity in France as the coronavirus pandemic takes its dreadful toll – coffins.
Britain’s economy looks set for a slump that in the short term could be deeper than during the depression of the 1930s, as a survey showed the coronavirus crisis caused a record downturn among services and manufacturing firms in March.
Benchmark Brent crude oil futures rose as high as $33.05 a barrel on Friday on rising hopes of a new global deal to cut global crude supply.
U.S. President Donald Trump is stoking the possibility of Saudi Arabia and Russia negotiating oil output cuts as the coronavirus outbreak hammers demand.
Ford Motor Co said on Friday the temporary suspension of vehicle and engine production at most of its European manufacturing sites is expected to run at least until May 4.
China’s securities regulator said on Friday it would investigate claims of fraud at Luckin Coffee Inc and sources said some of the banks involved in the Chinese chain’s successful U.S. IPO last year were reviewing their work in the listing.
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