Business & Finance News
The top three U.S. airlines, hit hard by the coronavirus pandemic, are rolling out fresh programs to induce tens of thousands of employees to accept voluntary leave or early retirement in the hope of avoiding widespread furloughs in the fall, company memos show.
ViacomCBS Inc is cutting up to 400 employees across CBS as part of its plan to save $750 million from its merger with CBS, a source familiar with the matter said on Thursday.
Upscale department store chain Nordstrom Inc on Thursday reported a nearly 40% slump in quarterly sales, as lockdowns to contain the COVID-19 pandemic forced it to shut stores.
President Donald Trump said he will introduce legislation that may scrap or weaken a law that has long protected internet companies, including Twitter and Facebook, an extraordinary attempt to intervene in the media that experts said was unlikely to survive legal scrutiny.
Cisco Systems Inc has agreed to acquire privately held software maker ThousandEyes Inc, the network gear maker said on Thursday.
Warehouse club operator Costco Wholesale Corp beat quarterly revenue estimates on Thursday, as people stocked up on essentials before hunkering down in their homes to contain the spread of the coronavirus.
Dell Technologies Inc beat analysts’ estimates for quarterly revenue on Thursday, boosted by demand for its workstations from companies moving more employees to work from home due to the coronavirus outbreak.
Upscale department store chain Nordstrom Inc on Thursday reported a nearly 40% slump in quarterly sales, as lockdowns to contain the COVID-19 pandemic forced it to shut stores.
U.S. President Donald Trump said on Thursday that he is directing Attorney General William Barr to work with states to enforce their own laws against what he described as deceptive business practices by social media companies.
Wall Street ended lower on Thursday following a late-session reversal, with Facebook weighing on the market after President Donald Trump said he would sign an executive order related to social media companies and said he would hold a news conference on China on Friday.
French carmaker Renault is poised to announce 15,000 layoffs worldwide on Friday as it unveils a plan to boost its profitability and cope with faltering sales, a representative for the CFDT union said after meeting with the company.
Ratings agency Standard & Poor’s cut engine maker Rolls-Royce’s credit rating to junk on Thursday, citing the disruption caused to global air travel from the COVID-19 pandemic.
Oil futures rose about 2% on Thursday as a steady improvement in U.S. refining activity offset a surprise build in crude and diesel inventories and on worries that China’s new Hong Kong security law could result in trade sanctions.
United Airlines Holdings Inc Chief Executive Scott Kirby said on Thursday that facial masks, aircraft cleaning and air filtration systems are better measures for preventing the spread of the coronavirus on airplanes than trying to social distance.
Global equity markets climbed on Thursday on optimism for a speedy economic recovery and a massive stimulus plan in Europe helped lift regional stocks and the euro, while gold rebounded on a safety bid on deteriorating U.S.-China relations.
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