Business & Finance News
The Federal Reserve announced Thursday it was giving small U.S. banks another month to file financial statements due at the end of March.
U.S. House Speaker Nancy Pelosi said she expected the chamber to pass an estimated $2.2 trillion coronavirus relief bill when it meets on Friday, after the Senate overwhelmingly approved the unprecedented economic rescue legislation Wednesday evening.
Prospective buyers arriving at Betsy and Eric Melby’s house for sale in Memphis, Tennessee, last week were greeted by a large pump bottle of hand sanitizer and a box of disposable gloves.
The number of Americans filing claims for unemployment benefits surged to a record of more than 3 million last week as strict measures to contain the coronavirus pandemic brought the country to a sudden halt, unleashing a wave of layoffs that likely ended the longest employment boom in U.S. history.
Morgan Stanley on Thursday pledged to not cut any jobs this year, according to a memo seen by Reuters, as the Wall Street bank sought to reassure employees worried about their jobs during the coronavirus pandemic.
Wall Street surged on Thursday as record weekly jobless claims came in below investors’ worst fears, making a case for more aggressive stimulus to aid businesses and families wrecked by the economic fallout of the coronavirus pandemic.
Deutsche Bank is for the first time considering asking its German staff to cut their hours and take government money instead as it tries to navigate the coronavirus crisis.
The German airline Condor has applied for an additional 200 million euros in state aid in the wake of the coronavirus outbreak, two people with knowledge of the matter said on Thursday.
Oil prices fell on Thursday after three sessions of gains as restrictions on travel worldwide crimped fuel demand, with U.S. crude futures plunging about 4% after the United States scrapped plans to buy domestic oil for its emergency reserve.
The International Monetary Fund on Thursday asked G20 leaders to back a doubling of its emergency financing capacity to strengthen its response to the rapidly spreading coronavirus pandemic that is set to cause a global recession in 2020.
Shared-office operator WeWork told investors on Thursday the $4.4 billion in cash and cash commitments it had at year-end 2019 is enough to execute its five-year plan and manage the challenges posed by the coronavirus crisis.
Nestle , the world’s biggest food company, said it would pay full salaries to employees affected by work stoppages for a minimum of three months, to protect them from the fallout of the coronavirus pandemic.
Senior cabinet officials in the Trump administration agreed to new measures to restrict the global supply of chips to China’s Huawei Technologies, sources familiar with the matter said, as the White House ramps up criticism of China over coronavirus.
The International Air Transport Association on Thursday urged the group of the 20 major economies to act quickly to prevent irrecoverable damage to the airline industry that has been shaken by the coronavirus crisis.
HSBC has said it is delaying the “vast majority” of its planned redundancies to deal with the fallout from the coronavirus pandemic, a memo sent to staff seen by Reuters said.
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