Reuters Business News

The two largest U.S. banks, JPMorgan Chase & Co and Bank of America, said on Thursday that they submitted almost half a million applications worth nearly $46 billion to the Small Business Administration's Paycheck Protection Program for small businesses hurt by the coronavirus shutdown.

U.S. electric vehicle maker Tesla Inc said in Friday it has cut the starting price for China-made Model 3 sedans by 10% to qualify for subsidies in the world's biggest auto market.

Amazon.com Inc on Thursday said it could post its first quarterly loss in five years even as revenue surges because it is spending at least $4 billion in response to the coronavirus pandemic, including plans to test its workforce for COVID-19.

Boeing Co raised $25 billion in a bond offering on Thursday, a blowout result for the planemaker, which is shoring up its finances during the coronavirus-induced travel downturn.

Boeing Co has no plans to seek additional funding through the capital markets or from the U.S. government at this time, the planemaker said in a statement on Thursday.

U.S. President Donald Trump said on Thursday his hard-fought trade deal with China was now of secondary importance to the coronavirus pandemic and he threatened new tariffs on Beijing, as his administration crafted retaliatory measures over the outbreak.

Gilead Sciences Inc , maker of the closely-watched experimental coronavirus drug remdesivir, on Thursday said it will work with international partners to expand production of the potential COVID-19 treatment.

Three of the largest four U.S. airlines said Thursday they will require passengers to wear facial coverings on U.S. flights, joining JetBlue Airways Corp in taking the step to address the spread of the coronavirus and convince reluctant passengers to resume flying.

Apple Inc reported sales and profits that beat Wall Street expectations Thursday, with Chief Executive Officer Tim Cook saying China sales were "headed in the right direction" as that country reopens from the novel coronavirus.

U.S. stocks lost ground on Thursday as grim economic data and mixed earnings prompted investors to take profits at the close of the S&P 500's best month in 33 years, a remarkable run driven by expectations the economy will soon start recovering from crushing restrictions enacted to curb the coronavirus pandemic.

Amgen Inc on Thursday reported better-than-expected first-quarter results and said it plans to study psoriasis drug Otezla as a potential treatment for COVID-19, the respiratory disease caused by the new coronavirus.

Amgen Inc on Thursday reported better-than-expected first-quarter results and said it plans to study psoriasis drug Otezla as a potential treatment for COVID-19, the respiratory disease caused by the new coronavirus.

Boeing Co expects to raise around $25 billion in its bond offering on Thursday, according to people familiar with the matter, a blowout result for the planemaker shoring up its finances during the coronavirus-induced travel downturn.

Amazon.com Inc on Thursday said it could post its first quarterly loss in five years because it is spending at least $4 billion in response to the coronavirus pandemic, including plans to test its workers for COVID-19 and providing them with protective gear, and paying higher wages.

United Airlines Holdings Inc on Thursday posted a first-quarter loss of $1.7 billion, including charges against investments in Latin America that have soured as the coronavirus pandemic jolts travel industries worldwide.

Gilead Sciences Inc , maker of the experimental coronavirus drug remdesivir, on Thursday said it will work with international partners to expand production of the potential COVID-19 treatment.

ConocoPhillips said on Thursday it would sharply reduce oil output in coming weeks, aiming to shut 35% of its volume by June after weak energy prices led to a loss of $1.7 billion in the first quarter.

Amazon.com Inc on Thursday warned that it could post a loss in the second quarter as it tacked on about $4 billion in costs related to the COVID-19 pandemic, sending its shares down 5% in extended trade.

Apple Inc reported sales and profits that beat Wall Street expectations Thursday, with Chief Executive Officer Tim Cook saying China sales were "headed in the right direction" as that country reopens from the novel coronavirus.

Gilead Sciences Inc , maker of the experimental coronavirus drug remdesivir, on Thursday reported flat first-quarter earnings and said it with work with international partners to expand production of potential COVID-19 treatment.