Business & Finance News
U.S. consumer spending rose moderately in February and momentum is set to fade rapidly in the coming months, with the coronavirus pandemic upending life for Americans.
State investor Temasek Holdings and others put together a funding package of up to S$19 billion ($13.27 billion) for Singapore Airlines (SIA) in the single biggest rescue for an airline slammed by the coronavirus pandemic.
Investors rushed into cash and out of bonds at a record pace over the past week as the coronavirus pandemic caused mayhem in markets, BofA said on Friday, though it noted a key positioning signal at “maximum bearish” could signal a big rally ahead.
Oil prices fell on Friday as demand destruction caused by the coronavirus outweighed stimulus efforts by policymakers around the world and the United States faced the prospect of becoming the next global epicenter of the pandemic.
Nestle, the world’s biggest food company, says it has made significant progress removing cocoa produced in protected forests in West Africa from its supply chain as pressure builds from consumers and governments for ethically sourced cocoa.
U.S. stock index futures fell over 2% on Friday, a day after the S&P 500 and the Dow posted their best three-day run since the early 1930s, as the United States faced the prospect of becoming the next global epicenter of the coronavirus pandemic.
A global shortage of condoms is looming, the world’s biggest producer said, after a coronavirus lockdown forced it to shut down production.
India’s Reliance Industries Ltd is seeking to sell some April-loading crude cargoes in a rare move as it plans to cut crude processing after the coronavirus pandemic hit global fuel demand, four sources said on Friday.
Foreign exchange company Travelex said on Friday it was shutting its UK bureaus for about eight weeks or more due to the coronavirus pandemic and that it was in talks with its stakeholders for continued access to funds.
ViacomCBS Inc on Friday withdrew its forecast for the year as the ongoing coronavirus pandemic and related lockdowns force the media conglomerate to delay movie releases.
Shares in ProSiebenSat.1 Media rallied by 9% on Friday after the abrupt departure of Chief Executive Officer Max Conze ended a drama-filled tenure that unraveled after his deputy denounced a “soap opera” at the German broadcaster.
Money managers rebalancing their portfolios to boost equity exposure into the end of the quarter may support the nascent stock rally that has followed the steep coronavirus-fueled market drop.
Brazil’s central bank could soon be forced to fire up the money printing presses if the coronavirus-fueled recession facing Latin America’s largest economy is as devastating as some economists fear.
U.S. stock index futures fell on Friday, a day after the S&P 500 and Dow posted their best three-day run since the 1930s, as the United States faced the prospect of becoming the next global epicenter of the coronavirus pandemic.
Tata Motors Ltd said on Friday it would spin off its passenger vehicles arm as a separate unit within the company, at a time when the coronavirus has disrupted auto production.
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