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United Airlines announces stock offering, shares slip

Reuters Business News - Tue, 04/21/2020 - 17:14
United Airlines Holdings Inc on Tuesday announced a stock offering of 39.25 million shares, sending its shares down 3% in extended trading.
Categories: Reuters

Explainer: How does Texas have the power to curb the state's oil output?

Reuters Business News - Tue, 04/21/2020 - 17:06
Texas oil and gas regulators in coming days are poised to decide whether to order larger producers in the state to shut in 20% of their output, wading into global oil politics as the coronavirus crisis slashes demand for oil .
Categories: Reuters

Netflix adds 15.8 million customers during quarantine, warns boost is temporary

Reuters Business News - Tue, 04/21/2020 - 17:02
Netflix Inc on Tuesday reported a surge in new sign-ups as audiences stayed in their homes to help fight the novel coronavirus and binged on series such as "Tiger King," but the company predicted a weaker second half of the year if quarantine orders are lifted.
Categories: Reuters

LendingClub to lay off about a third of employees due to coronavirus

Reuters Business News - Tue, 04/21/2020 - 17:01
Online lender LendingClub Corp said on Tuesday it would lay off 460 employees, including President Steven Allocca, as part of a restructuring plan to slash costs amid the economic fallout of the COVID-19 pandemic.
Categories: Reuters

Chipotle March same-store sales drop even as delivery orders surge

Reuters Business News - Tue, 04/21/2020 - 16:52
Chipotle Mexican Grill Inc on Tuesday reported a 16% drop in March same-store sales while online orders surged, as it was forced to keep stores closed because of the coronavirus pandemic.
Categories: Reuters

Amazon staff take off work to raise safety concerns in pandemic: activists

Reuters Business News - Tue, 04/21/2020 - 16:51
A U.S. labor and activist coalition said employees of Amazon.com Inc would take off work starting on Tuesday to draw attention to what it says are unsafe conditions at warehouses during the coronavirus pandemic.
Categories: Reuters

Small business loan program discriminated against women, minorities: lawsuit

Reuters Business News - Tue, 04/21/2020 - 16:42
The $349 billion small business loan program passed last month as part of the federal coronavirus relief package discriminated against woman- and minority-owned businesses by prioritizing business with employees over those that do not, according to a lawsuit filed by two Maryland business owners.
Categories: Reuters

Chipotle reports 16% drop in March same-store sales

Reuters Business News - Tue, 04/21/2020 - 16:33
Chipotle Mexican Grill Inc on Tuesday reported a 16% fall in March same-store sales, as the coronavirus pandemic forced the company to keep its restaurants closed to diners.
Categories: Reuters

Snap shares rise 19% as coronavirus spurs use, revenue growth beats Street

Reuters Business News - Tue, 04/21/2020 - 16:28
Snap Inc on Tuesday beat Wall Street estimates for quarterly revenue and user growth for its Snapchat app, as more people seek entertainment while they stay at home during the global coronavirus pandemic.
Categories: Reuters

Netflix adds more subscribers in first quarter, shares rise

Reuters Business News - Tue, 04/21/2020 - 16:26
Netflix Inc on Tuesday reported more paid subscribers than expected in the first quarter, as global lockdowns to curb the spread of the novel coronavirus forced people to stay at home and watch shows online including its wildly popular "Tiger King."
Categories: Reuters

Exclusive: ValueAct eyes Nintendo with stake of over $1.1 billion, letter shows

Reuters Business News - Tue, 04/21/2020 - 16:25
Activist investor ValueAct Capital Partners LP has built a stake of over $1.1 billion in Nintendo , according to a letter seen by Reuters, a bet that digital software distribution and the development of new entertainment products will fuel growth at the Japanese consumer electronics company.
Categories: Reuters

Texas Instruments forecast current-quarter sales below estimates

Reuters Business News - Tue, 04/21/2020 - 16:24
Texas Instruments Inc on Tuesday forecast second-quarter revenue below Wall Street estimates, as the chip industry braces for a big hit from the coronavirus outbreak.
Categories: Reuters

U.S. videogame sales surge in March as lockdown keeps people indoor

Reuters Business News - Tue, 04/21/2020 - 16:14
Videogame sales in March hit their highest in over a decade, as Americans turned to games like "Animal Crossing: New Horizons" and "Call of Duty: Modern Warfare" because of lockdowns to stem the spread of the coronavrius.
Categories: Reuters

U.S. Congress, White House agree on nearly $500 billion more coronavirus bailout

Reuters Business News - Tue, 04/21/2020 - 15:35
U.S. congressional leaders and the White House agreed on Tuesday on nearly $500 billion more in coronavirus relief for the U.S. economy, bringing to nearly $3 trillion the amount allocated to deal with the crisis.
Categories: Reuters

Amazon staff take off work to raise safety concerns in pandemic: coalition

Reuters Business News - Tue, 04/21/2020 - 15:32
A U.S. labor and activist coalition said employees of Amazon.com Inc would take off work starting Tuesday to draw attention to what it says are unsafe conditions at warehouses during the coronavirus pandemic.
Categories: Reuters

U.S. House could vote on Thursday on coronavirus loan bill: Hoyer

Reuters Business News - Tue, 04/21/2020 - 15:31
More than half the U.S. House of Representatives could return to the capitol on Thursday to pass a coronavirus relief bill that would fund small business loans and hospital aid, chamber's second-most powerful Democrat said on Tuesday, adding he thinks both parties would approve the legislation.
Categories: Reuters

U.S. Senate's McConnell: reached bipartisan agreement on coronavirus bill

Reuters Business News - Tue, 04/21/2020 - 15:28
U.S. Senate Majority Leader Mitch McConnell welcomed a bipartisan agreement on additional coronavirus relief on Tuesday and said he hoped the Senate would quickly pass it.
Categories: Reuters

Coronavirus-related job losses hit U.S. black, Hispanic families hardest, studies find

Reuters Business News - Tue, 04/21/2020 - 15:27
Black and Hispanic families in the United States are taking the biggest income hit due to the coronavirus pandemic, and they are less prepared to withstand the blow, according to two studies released on Tuesday.
Categories: Reuters

Exclusive: Trump pressed to halt federal pension investments in China's ZTE, Hikvision

Reuters Business News - Tue, 04/21/2020 - 15:18
Lawmakers and former officials are making a last-ditch push to persuade the Trump administration to halt plans to invest billions of federal employee retirement dollars in Chinese companies that Washington suspects of human rights abuses or threatening U.S. security, according to sources and documents seen by Reuters.
Categories: Reuters

Chipotle to pay $25 million related to food borne illness outbreaks: Justice Department

Reuters Business News - Tue, 04/21/2020 - 15:15
Chipotle Mexican Grill has agreed to pay $25 million and enter a deferred prosecution agreement to resolve charges related to food borne illness outbreaks that sickened hundreds of people between 2015 and 2018, the Justice Department said on Tuesday.
Categories: Reuters
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