Business & Finance News
Hourly wage workers at McDonald’s Corp on Tuesday sought paid sick leave for those working at its U.S. restaurants and an update to the safety protocols as coronavirus cases in the United States rise.
Saudi Arabia said on Tuesday it would boost its oil supplies to a record high in April, raising the stakes in a standoff with Russia and effectively rebuffing Moscow’s suggestion for new talks.
Oil prices jumped by almost 8% on Tuesday, bouncing from the biggest rout in nearly 30 years a day earlier, as the possibility of economic stimulus encouraged buying and U.S. producers slashed spending in a move that could cut output.
New Wells Fargo & Co Chief Executive Charlie Scharf testified on Tuesday that substantial change was underway at the bank as lawmakers grilled him on the status of the bank’s remediation plans, consent orders and contingency plans related to coronavirus.
BlackRock Inc said on Tuesday a New York employee was diagnosed with the coronavirus, and has been in self-quarantine and working from home since March 4.
For money managers, it’s bad enough watching the coronavirus wipe trillions of dollars off world markets’ value. Even worse is not knowing how bad the outbreak really is for the economy, company balance sheets, and in turn for their portfolios.
Goldman Sachs Group Inc Chief Financial Officer Stephen Scherr said on Tuesday the bank is “very open” to acquisitions that can help the bank fill gaps or help speed up growth of certain businesses.
More U.S. companies are moving their annual shareholder meetings online to help contain the spread of coronavirus, raising concerns among corporate democracy advocates about investors losing access to top executives and board directors.
U.S. President Donald Trump said he will ask Congress for a payroll tax cut and other “very major” stimulus moves on Tuesday to ease the economic pain of the coronavirus, but the details remain unclear.
Wall Street’s bounce ran out of steam on Tuesday and the Dow Jones Industrials slipped into negative territory after the indexes opened more than 3% higher on hopes of coordinated stimulus globally.
Airline SAS has invited unions to discuss a 20% work and pay cut for all employees as it fights to mitigate the effects of a slump in demand due to the coronavirus outbreak, it said on Tuesday.
China’s industry ministry said on Tuesday it has urged Tesla Inc to keep its China-made vehicles consistent after some Chinese customers complained the U.S. electric vehicle maker put less advanced computer chips in their cars.
Wall Street rebounded on Tuesday as investors pinned their hopes on policy easing by major central banks and governments after global markets plummeted in the previous session on fears of a coronavirus-driven recession.
A worker at Apple’s European headquarters in Cork in Ireland has tested positive for coronavirus, one of 24 cases reported so far in the country where its oldest university, Trinity College, has been forced to move all lectures online.
President Donald Trump on Tuesday lashed into the U.S. Federal Reserve and its chairman Jerome Powell, calling the institution “pathetic, slow moving” and saying it should bring U.S. interest rates down to the level of “competitor nations.”
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