Business & Finance News
The European Central Bank approved a bigger-than-expected expansion of its stimulus package on Thursday to prop up an economy plunged by the coronavirus pandemic into its worst recession since World War Two.
The European Central Bank beefed up its bond-buying programme on Thursday in its latest effort to support a euro zone economy pummelled by more than two months of shutdowns due to the coronavirus pandemic.
European Central Bank policymakers debated expanding their pandemic-fighting programme by between 500 billion euros ($566 billion) and 750 billion euros on Thursday before settling for a compromise figure, three sources told Reuters.
The European Central Bank expects the euro zone to suffer a deep recession this year, with losses only partly made up in 2021 as pandemic-related restrictions weigh on output for an extended period.
Following is the statement from the European Central Bank following its policy meeting.
Oil prices fell on Thursday on doubts over the ability of top crude producers to agree to extend record output cuts, heightened by worries over a build in U.S. fuel inventories.
American Airlines Group Inc shares jumped by 25% after it said Thursday it will significantly boost its U.S. flight schedule next month after dramatic reductions caused by the coronavirus pandemic, flying more than 55% of its July 2019 domestic capacity.
LVMH on Thursday said that Frederic Arnault, one of the younger sons of the luxury goods group’s billionaire boss, would take over running watch brand Tag Heuer, joining his siblings in taking on bigger roles within the conglomerate.
A 6.3 billion euro ($7 billion) state-backed loan for Fiat Chrysler (FCA) , financed by Intesa Sanpaolo , is crucial in terms of safeguarding Italy’s economy, the head of the country’s biggest retail bank said.
EBay Inc raised its current-quarter revenue and profit forecasts on Thursday, as people stuck at home due to the COVID-19 pandemic ordered more through its online platform, sending its shares to a record high.
The U.S. economy may have hit its low point in the coronavirus crash but the rebound so far remains tepid, according to both broad indexes of activity and higher frequency counts of cellphone data and employee time information.
American Airlines Group Inc said on Thursday it was seeing a slow but steady rise in domestic demand, as coronavirus-led lockdowns start to ease.
A rally in tech shares drove the Nasdaq index higher on Thursday, with weekly jobless claims dipping below 2 million for the first time since mid-March bolstering optimism around an economic rebound from the coronavirus-driven slump.
Many U.S.-listed Chinese firms will likely list on the Hong Kong exchange this year, in part because of U.S. political pressure following China’s new national security legislation on Hong Kong, the head of the exchange said on Thursday.
The number of Americans filing for unemployment benefits dropped below 2 million last week for the first time since mid-March, but remains astonishingly high as companies adjust to an environment that has been significantly changed by COVID-19.
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