Feed aggregator

Rogers pulls 2020 outlook, misses estimates as coronavirus crisis deepens

Reuters Business News - Wed, 04/22/2020 - 14:51
Rogers Communications Inc pulled its 2020 forecast and reported a lower-than-expected profit on Wednesday, as widespread cancellation of sports events hammered ad sales and demand for new routers took a hit due to the lockdowns.
Categories: Reuters

Securities group asks SEC to intervene for brokers in audit-trail database fight

Reuters Business News - Wed, 04/22/2020 - 14:49
U.S. brokers should not be forced to sign an agreement that could make them liable for breaches of a massive new industry trading database that they have no control over, a leading financial industry trade group told regulators on Wednesday.
Categories: Reuters

SIFMA asks U.S. SEC to intervene for brokers in CAT database fight

Reuters Business News - Wed, 04/22/2020 - 14:38
U.S. brokers should not be forced to sign an agreement that could make them liable for breaches of a massive new industry trading database that they have no control over, a leading financial industry trade group told regulators on Wednesday.
Categories: Reuters

'A disaster': Roche CEO's verdict on some COVID-19 antibody tests

Reuters Business News - Wed, 04/22/2020 - 14:35
Some blood tests being marketed to tell people if they have had the new coronavirus are a "disaster", Roche Chief Executive Severin Schwan said on Wednesday as he prepares to launch the drugmaker's own antibody test next month.
Categories: Reuters

Brent crude rebounds from more-than 20-year low; U.S. oil up 20% in wild trade

Reuters Business News - Wed, 04/22/2020 - 14:25
Brent crude oil rebounded from two days of losses and U.S. futures surged on Wednesday, bolstered by tentative talk of additional supply cuts from OPEC producers and U.S. inventory builds that were less dire than some expected.
Categories: Reuters

U.S. auto sales begin recovery from March coronavirus drop: J.D. Power analysts

Reuters Business News - Wed, 04/22/2020 - 13:40
Auto retail sales in the United States are beginning to recover from a massive slump in March due to the outbreak of the coronavirus and nationwide stay-at-home orders, according to analysts at research firm J.D. Power on Wednesday.
Categories: Reuters

Quibi downloads reach 2.7 million, TV feature to start in May

Reuters Business News - Wed, 04/22/2020 - 13:27
New streaming service Quibi, which offers entertainment and news in episodes of 10 minutes or less on mobile phones, has been downloaded more than 2.7 million times since its April 6 debut, founder Jeffrey Katzenberg told Reuters on Wednesday.
Categories: Reuters

U.S. Treasury market faces structural issues even as liquidity improves

Reuters Business News - Wed, 04/22/2020 - 13:25
The recent liquidity crisis in the $17 trillion U.S. Treasury market has exposed structural problems that are unlikely to be fixed any time soon, which could lead to new bouts of volatility and make it more costly for the U.S. government to sell bonds.
Categories: Reuters

U.S. House expects to pass $500 billion coronavirus bill, avoids fight over remote voting

Reuters Business News - Wed, 04/22/2020 - 13:24
The U.S. House of Representatives expects to pass a nearly $500 billion coronavirus relief bill on Thursday but will put off any decision on changing its voting rules during the pandemic, avoiding a potential partisan fight.
Categories: Reuters

Next round of coronavirus business aid to be as fair as possible: Kudlow

Reuters Business News - Wed, 04/22/2020 - 13:24
White House economic adviser Larry Kudlow on Wednesday said the Trump administration would try to fairly distribute the next round of aid for small businesses hurt by the coronavirus outbreak, saying demand for the first round of funding was "overwhelming."
Categories: Reuters

Cash is king as U.S. quarterly reporting season gains steam

Reuters Business News - Wed, 04/22/2020 - 13:21
As the U.S. quarterly earnings season picks up steam this week, investors are getting a glimpse of how companies are weathering the coronavirus outbreak, including the strength of their balance sheets.
Categories: Reuters

EU says air travel will require social distancing, U.S. airlines taking their own steps

Reuters Business News - Wed, 04/22/2020 - 13:14
The European Commission will next month present a set of rules for the safe reopening of air travel when coronavirus lockdowns end, including social distancing in airports and planes, while some U.S. airlines are taking their own protective measures.
Categories: Reuters

Pricing the benefits of cheap oil in a world of economic lockdowns

Reuters Business News - Wed, 04/22/2020 - 13:03
The oil price collapse that took U.S. crude prices sub-zero for the first time in history may turn out to be a silver lining for the world economy, possibly offering a springboard for recovery when coronavirus lockdowns finally end.
Categories: Reuters

Netflix to raise $1 billion to fund original content

Reuters Business News - Wed, 04/22/2020 - 12:58
Netflix Inc said on Wednesday it plans to raise about $1 billion in debt to beef up original content, a day after the streaming pioneer doubled its own projections for new customers as stuck-at-home users binged on movies and shows.
Categories: Reuters

Kraft-Heinz extends factory worker bonuses in pandemic

Reuters Business News - Wed, 04/22/2020 - 12:57
Kraft Heinz will extend for two weeks a $100 per week stipend for factory workers producing its packaged foods during the COVID-19 pandemic, the company said on Wednesday.
Categories: Reuters

Air France-KLM nears bailout with improved guarantees: sources

Reuters Business News - Wed, 04/22/2020 - 12:32
Air France-KLM is moving towards a 10 billion euro ($10.9 billion) government-backed rescue deal, sources said, after France agreed to higher guarantees on loans designed to tide the airline group through the coronavirus crisis.
Categories: Reuters

Brent crude rebounds from 1999 lows, U.S. oil up more than 25% in wild trade

Reuters Business News - Wed, 04/22/2020 - 12:31
Brent crude oil rebounded from two days of losses and U.S. futures surged on Wednesday, bolstered by tentative discussions of additional supply cuts from OPEC producers and U.S. inventory builds that were less dire than some anticipated.
Categories: Reuters

Oil exec and Trump ally Hamm seeks U.S. probe of oil price crash

Reuters Business News - Wed, 04/22/2020 - 12:12
The founder of Continental Resources Inc , an ally of U.S. President Donald Trump, is pressing the U.S. commodity markets regulator and the exchange to probe whether market manipulation or system failure was behind this week's unprecedented plunge in U.S. crude futures.
Categories: Reuters

Google says state-backed hackers increasing coronavirus phishing attacks

Reuters Business News - Wed, 04/22/2020 - 12:08
Security experts at Alphabet Inc's Google have identified more than a dozen government-backed hacking groups using the COVID-19 pandemic as cover for phishing and malware attempts.
Categories: Reuters

Fox's Rupert, Lachlan Murdoch to forgo salary due to hit from coronavirus

Reuters Business News - Wed, 04/22/2020 - 12:02
Fox Corp Chairman Rupert Murdoch and Chief Executive Officer Lachlan Murdoch will forgo their salaries in response to the coronavirus crisis, according to an internal memo sent to employees on Wednesday.
Categories: Reuters
Syndicate content