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Rogers pulls 2020 outlook, misses estimates as coronavirus crisis deepens
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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