Feed aggregator

Italy unions agree health measures with CNH Industrial for restart

Reuters Business News - Thu, 04/16/2020 - 12:18
Italian trade unions said on Thursday they had agreed with CNH Industrial on health and security measures so the vehicle maker is ready to resume work as soon as lockdown rules are eased.
Categories: Reuters

Global stocks seesaw, yields fall on dire economic outlook

Reuters Business News - Thu, 04/16/2020 - 12:13
World stock markets seesawed while bond yields retreated on Thursday as dire U.S. jobless data underscored a deepening downturn amid the coronavirus pandemic and tamped down investor hopes a listless economy would soon be back on its feet.
Categories: Reuters

United cuts May flights by 90%, tells employees to brace for job cuts

Reuters Business News - Thu, 04/16/2020 - 12:08
(This April 15 story corrects to show flights starting between Buenos Aires and Houston, not Washington, in paragraph 12.)
Categories: Reuters

Canada's WestJet to lay off 1,700 pilots

Reuters Business News - Thu, 04/16/2020 - 12:07
Canada's privately held WestJet Airlines is laying off 1,700 pilots amid travel bans to curb the COVID-19 pandemic, according to a company memo seen by Reuters on Thursday.
Categories: Reuters

L'Oreal banks on cosmetics bounceback, citing Chinese pick-up

Reuters Business News - Thu, 04/16/2020 - 11:54
Maybelline make-up manufacturer L'Oreal said on Thursday it was counting on a quick recovery in cosmetics demand once global lockdowns to combat the coronavirus pandemic ease, pointing to a recovery already under way in China.
Categories: Reuters

Facebook's Libra cryptocurrency gets revamp in response to backlash

Reuters Business News - Thu, 04/16/2020 - 11:53
Facebook's planned cryptocurrency Libra will be linked to individual national currencies and overseen by global watchdogs in a scaled-back revamp it hopes will win regulatory approval.
Categories: Reuters

U.S. small-business rescue loan program hits $350 billion cap, says government

Reuters Business News - Thu, 04/16/2020 - 11:32
A $350 billion emergency U.S. loan program designed to help small businesses keep workers on their payrolls amid the novel coronavirus disruption has run out of funds, the U.S. Small Business Administration said in an email on Thursday.
Categories: Reuters

Exclusive: Hedge fund Elliott says stocks could fall 50% from February highs - letter

Reuters Business News - Thu, 04/16/2020 - 11:31
Billionaire Paul Singer’s Elliott Management said global stocks could tumble further, ultimately losing half or more of their value from February's high, as the world braces for the deepest recession since the 1930s-era Great Depression.
Categories: Reuters

Millions unemployed, homebuilding collapses as coronavirus ravages U.S. economy

Reuters Business News - Thu, 04/16/2020 - 11:25
A record 22 million Americans have sought unemployment benefits over the past month, with millions more filing claims last week, almost wiping out all the job gains since the Great Recession and underscoring the toll on the economy from extraordinary measures to control the novel coronavirus outbreak.
Categories: Reuters

No end in sight yet for Amazon shutdown in France

Reuters Business News - Thu, 04/16/2020 - 11:24
Amazon has no clarity yet on when its warehouses in France might reopen, the head of its French business said on Thursday, after the e-commerce giant clashed with unions over the measures taken to limit the risks of coronavirus contagion.
Categories: Reuters

Fed's Bostic: Small business may need up to $500 billion monthly in support through crisis

Reuters Business News - Thu, 04/16/2020 - 11:20
U.S. small businesses may need as much as $500 billion a month to fully ensure their survival through the widespread closures and disruptions slamming their revenue during the coronavirus crisis, Atlanta Fed President Raphael Bostic said Thursday.
Categories: Reuters

New York forms team to develop 'Trump-proof' economic reopening plan

Reuters Business News - Thu, 04/16/2020 - 11:10
New York Governor Andrew Cuomo has tapped high-powered consultants to develop a science-based plan for the safe economic reopening of the region that can thwart pressure from President Donald Trump to move more rapidly, state government sources told Reuters.
Categories: Reuters

Oil prices mixed after OPEC lowers oil demand forecast due to coronavirus

Reuters Business News - Thu, 04/16/2020 - 11:09
Oil prices were mixed with Brent down and U.S. crude higher after OPEC lowered its global oil demand forecast due to the "historic shock" delivered by the coronavirus outbreak.
Categories: Reuters

Dollar at one-week high as investors seek safety after jobless data

Reuters Business News - Thu, 04/16/2020 - 10:53
The dollar hit a one-week high on Thursday as investors fled to safe-haven assets following the release of weekly U.S. jobless data showing a record 22 million Americans have sought unemployment benefits in the last month.
Categories: Reuters

Coronavirus test ramp-up to help Abbott weather 'toughest quarter'

Reuters Business News - Thu, 04/16/2020 - 10:49
Abbott Laboratories Inc said on Thursday a recent ramp up in coronavirus tests production would help it ride out a tough current quarter as the outbreak chokes demand for its other diagnostic kits.
Categories: Reuters

U.S. telling lenders small business fund to run dry imminently: source

Reuters Business News - Thu, 04/16/2020 - 10:34
The U.S. Small Business Administration is telling lenders a $350 billion emergency loan program for small businesses designed to help them keep workers on their payrolls is expected to run out of funds imminently, a source familiar with the situation said.
Categories: Reuters

Fed says backstop for small business loans fully operational

Reuters Business News - Thu, 04/16/2020 - 10:33
The Federal Reserve's program to back emergency government loans to small businesses is "fully operational," the U.S. central bank said on Thursday, a boost to banks as they await a possible expansion to the total amount of funds they will be allowed to disburse to help companies through the coronavirus crisis.
Categories: Reuters

Ferrari makes parts to turn snorkel masks into coronavirus kit

Reuters Business News - Thu, 04/16/2020 - 10:32
Luxury carmaker Ferrari has begun making parts to convert snorkel masks into respirators for treating patients with coronavirus and protecting medical workers.
Categories: Reuters

New lira curbs to boost Turkish FX reserves but at longer-term price

Reuters Business News - Thu, 04/16/2020 - 10:29
Turkey's latest squeeze of its $37 billion-a-day London lira market may succeed in boosting scarce hard currency reserves but analysts say it will not stem the lira's decline and that the country's reliance on foreign capital means it could backfire.
Categories: Reuters

BlackRock's assets under management shrink amid market turmoil

Reuters Business News - Thu, 04/16/2020 - 09:50
BlackRock Inc's assets under management dipped sharply in the first quarter amid turmoil in global markets caused by concerns about the economic fallout of the coronavirus outbreak.
Categories: Reuters
Syndicate content