Business & Finance News
Apparel retailer Gap Inc on Thursday named long-time executive Sonia Syngal as its new chief executive officer, nearly four months after the surprise exit of its then chief Art Peck.
U.S. stocks tumbled on Thursday, with shares of banks and travel companies taking a beating, as a new wave of fear about the spread of the coronavirus and its economic impact gripped investors just one day after election results powered a rally.
Global equity markets tumbled and the dollar slid on Thursday as the coronavirus spread quickly outside China, leading Britain to prepare for a significant increase in cases and France to say it appeared “inevitable” the outbreak would become an epidemic in the country.
OPEC pushed on Thursday for a bigger-than-expected oil output cut to support prices that have been hit by the coronavirus outbreak, effectively presenting its non-OPEC partners with an ultimatum to back the move or face a price collapse.
Apparel retailer Gap Inc on Thursday named long-time executive Sonia Syngal as its new chief executive officer, nearly four months after the surprise exit of its then chief Art Peck.
U.S. stocks sold off sharply on Thursday, with shares of banks and travel companies pummeled, as large swings in the market continued due to uncertainty over the spread of the coronavirus and its economic fallout.
U.S. Federal Aviation Administration chief Stephen Dickson said on Thursday he thinks a certification test flight for the Boeing 737 MAX – a key milestone for the return of the grounded plane – could come soon.
Airlines have been suspending flights or modifying services in response to the coronavirus outbreak.
The coronavirus epidemic could rob passenger airlines of up to $113 billion in revenue this year, an industry body warned on Thursday, while the head of a large U.S. airline said the drop-off in travel demand seemed driven more by fear than economics, similar to what happened after the disasters of Sept. 11, 2001.
U.S. stocks sold off sharply on Thursday, with shares of travel companies pummeled, as large swings in the market continued amid uncertainty over the spread of the coronavirus and its economic fallout.
Southwest Airlines Chief Executive Gary Kelly said on Thursday that the airline was not running dramatic fare sales in response to a drop-off in demand due to the spreading coronavirus.
Former United Auto Workers (UAW) President Gary Jones was charged on Thursday with embezzling more than $1 million of union funds amid a U.S. corruption probe that has raised the specter of a federal government takeover of the union.
Wall Street’s losses deepened and the Dow Jones Industrials shed 1,000 points in afternoon trading on Thursday as death toll in the United States rose to 11 and travel related stocks took a severe beating.
European planemaker Airbus failed to win any new aircraft orders in February, it said on Thursday, providing further evidence of disruption across aviation industries from the global coronavirus outbreak.
HP Inc on Thursday rejected Xerox Holdings Corp’s raised takeover bid of about $35 billion, saying it undervalued the personal computer maker.
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