Reuters Business News

World equity benchmarks dipped on Thursday to close their best month in 11 years as a rebound in oil prices, encouraging early results from a COVID-19 treatment trial and expectations of more government stimulus helped ease the pain of February and March.

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 decades, a remarkable run driven by expectations the economy will soon start recovering from restrictions enacted to curb the coronavirus pandemic.

BlackRock Inc on Thursday said it named London-based financial executive Sandy Boss as its new head of investment stewardship, bringing a more international structure to the top asset manager's voting on topics like climate change and social issues.

Oil prices jumped on Thursday, after several producers said they would cut output and as signs the U.S. crude glut was not growing as quickly as many had feared brought an upbeat close to one of the most volatile months for oil trading in history.

The U.S. Federal Reserve on Thursday widened a key program to nurse the "Main Street" economy through the coronavirus pandemic, agreeing to lend to even larger firms, taking on more risk in participation with banks, and hinting at some form of dedicated help for non-profits.

Wells Fargo & Co has revived its special group for bad energy loans in recent weeks as the bank braces for more pain from the sharp downturn in oil prices, people familiar with the matter told Reuters.

Ford Motor Co on Thursday outlined the safety measures it will institute to restart its most profitable U.S. plants amid the coronavirus pandemic, expanding on similar efforts by General Motors Co and Fiat Chrysler to convince leaders of the United Auto Workers union to send members back to work.

As the coronavirus pandemic engulfed the United States, Joe Shia, a consultant to Chinese medical companies, said he was bombarded with inquiries from American firms who saw a golden opportunity in selling tests to determine coronavirus immunity.

U.S. stocks fell on Thursday as grim economic data and mixed earnings prompted investors to take some profits at the close of Wall Street's best month in decades.

Boeing Co's recently aborted $4.2 billion agreement to buy the commercial jet-making operations of Brazil's Embraer specifically forbade either party from calling it off because of a pandemic or a global economic recession, Reuters has found.

Ford Motor Co on Thursday outlined the safety measures it will institute to restart its most profitable U.S. plants amid the coronavirus pandemic, expanding on similar efforts by General Motors Co and Fiat Chrysler to convince leaders of the United Auto Workers union to send members back to work.

Berkshire Hathaway Inc's annual meeting will be nothing like the extravaganzas of years past, but will give Warren Buffett a chance to show how resilient his cash-rich conglomerate may be to the coronavirus pandemic, and the investment opportunities it offers.

Warren Buffett's Berkshire Hathaway Inc's annual meeting on May 2 will break with tradition and be held virtually, as the coronavirus pandemic halts large gatherings.

Wall Street's main indexes fell on Thursday after a strong month of gains as millions of more Americans applied for jobless claims, taking the shine off a strong rally this month and eclipsing upbeat results from Facebook and Tesla.

The Italian airport operators association, Assaeroporti, said on Thursday proposals to keep some seats empty on planes for social distancing would not be workable if only imposed by Italy and would make the domestic sector vulnerable to foreign rivals.

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McDonald's Corp missed Wall Street estimates for quarterly profit on Thursday as some restaurants in Europe and elsewhere remained closed to curb the spread of the coronavirus pandemic.

A fourth bill to provide stimulus to the U.S. economy may not be needed if states are able to successfully reopen their economies "relatively quickly," as some forecasters and equity markets expect, a White House economic adviser said on Thursday.

Macy's Inc plans to reopen 68 U.S. stores on Monday in states that have loosened coronavirus lockdowns, the department store operator said on Thursday, as more retailers sought to get business going after a crushing month of closures.

AT&T Inc said on Thursday it will bring its advertising unit Xandr under its WarnerMedia label, which is set to launch its streaming channel HBO Max in May.