Business & Finance News
As the coronavirus pandemic pushes India into a lockdown, the call centres and IT services firms that function as the world’s back office are struggling to piece together work-from-home solutions and other business-continuity plans.
Billionaire investor William Ackman, who hedged his portfolio weeks ago to guard against coronavirus-inspired panic selling, told investors that his private hedge fund is making money this year, an investor said on Wednesday.
Airbnb Inc on Wednesday held a phone meeting with bankers to discuss extending an existing $1 billion debt facility as the home rental start-up grapples with a slowdown from the coronavirus outbreak, according to a source who participated in the meeting.
AMC Entertainment Holdings Inc , the world’s largest theater operator, has placed its chief executive and all of its corporate employees on furlough to preserve cash during the coronavirus outbreak, a company spokesman said on Wednesday.
President Donald Trump wants America to get back to business by Easter, suggesting some efforts to slow the spread of coronavirus outbreak will no longer be needed by then, but Corporate America is taking its lead from health professionals.
The U.S. coronavirus stimulus bill would add $14 billion to the Agriculture Department’s Commodity Credit Corp spending authority, and authorize another $9.5 billion for U.S. farmers hurt by the fast-spreading pandemic, according to a copy of the bill’s text.
The $2 trillion economic rescue package before the U.S. Senate on Wednesday would send the federal government to the auto industry’s rescue for the second time in a dozen years.
Tesla Inc will reopen its New York factory “as soon as humanly possible” to manufacture ventilators for coronavirus patients, Chief Executive Officer Elon Musk said on Twitter on Wednesday.
Amazon.com Inc on Wednesday said it temporarily would not require sellers in its marketplace to repay loans it had made to them, as merchants confront the prospect of declining sales during the coronavirus pandemic.
The S&P 500 rallied for a second straight session on Wednesday as the U.S. Senate appeared near a vote on a $2 trillion package to support businesses and households devastated by the coronavirus pandemic.
Canadian oil and gas companies are urging Ottawa to free up credit and cash to help them survive the twin shocks of COVID-19 spread and a crude price war, pitching ideas ranging from tax deferrals to backstopping bank loans.
The S&P 500 rallied for a second straight session on Wednesday as the U.S. Senate appeared to near a vote on a $2 trillion package to support businesses and households devastated by the coronavirus pandemic.
U.S. crude prices settled higher on Wednesday, bolstered by progress on a massive pending U.S. economic stimulus package, even as government data showed the coronavirus pandemic started undercutting U.S. fuel demand last week.
A group representing major United States semiconductor companies on Wednesday said it was working with federal officials to make clear to state and local officials overseeing lockdowns that chip companies are essential businesses that should continue operations.
The U.S. Senate will vote on Wednesday to give the U.S. aviation industry $58 billion in aid, half in the form of grants to cover some 750,000 employees’ paychecks, in a badly needed lifeline for an industry facing the worst travel downturn in history.
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