Business & Finance News
The coronavirus pandemic is throwing a spotlight on stocks in the U.S. healthcare sector, home to the companies that could develop treatments, vaccines and improved diagnostics needed to tackle the greatest public health crisis in a century.
Airbnb lowered its internal valuation by 16% to $26 billion, as the home rental firm deals with a sharp drop in bookings due to the global spread of the coronavirus pandemic, the Financial Times reported on Thursday.
The dollar edged toward an almost 2% weekly rise on Friday, boosted by a surge in the oil price and as investors sought safety amid the worsening economic fallout from the coronavirus pandemic.
Amid confusion over a $349 billion rescue program for small businesses struggling to survive the coronavirus pandemic, the U.S. Treasury released guidelines it hopes will pave the way to getting the spigots flowing on Friday, as promised.
U.S. Treasury Secretary Steven Mnuchin said he was pressing ahead with the Friday launch of a $349 billion coronavirus rescue loan program for small businesses despite confusion over last-minute final rules and lenders unprepared to approve applications.
Recent negotiations involving leaders from OPEC nations and the United States will prove irrelevant for oil prices, which are low because of depressed demand, the chief executive of Brazil’s Petrobras said on Thursday evening.
Asian markets on Friday looked to latch onto Wall Street’s overnight gains after crude prices notched their biggest one-day surge on record, helping offset concerns about the depth of a global recession.
Bed Bath & Beyond Inc has asked a judge to hold 1-800-Flowers.Com Inc to a $252 million deal between the companies in what appears to one of the first examples of a corporate sale coming unraveled due to the coronavirus pandemic.
U.S. stocks rallied on Thursday as hopes for a truce in the price war between Saudi Arabia and Russia and a cut in oil output drove gains, taking some sting out of a shocking jump in Americans filing jobless claims due to coronavirus-led lockdowns.
American Airlines Co said on Thursday it is cutting additional flights this summer as travel demand has drastically shrunk amid the coronavirus pandemic.
A full airline industry recovery from the coronavirus looks prolonged at best, analysts said, as new data showed international seat capacity had fallen to 23% of last year’s levels and around half the world’s airplane fleet is in storage.
The Federal Communications Commission on Thursday proposed to fine TracFone Wireless $6 million for allegedly violating its rules governing the subsidy program for telecommunications services for low income users.
Less than two months after settling with New York City regulators over paid sick leave, Chipotle Mexican Grill Inc is under pressure for its policies amid the coronavirus pandemic.
Benchmark U.S. crude fell 2% at open on Friday, coming off its biggest one-day gain in the previous session after President Donald Trump said he expected Saudi Arabia and Russia to announce a major oil production cut.
Major U.S. retail sector companies on Thursday moved to allay health and safety concerns of staff working at warehouses and stores through the coronavirus pandemic by promising face masks, gloves and sanitizers.
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