Feed aggregator

Republicans in the U.S. Senate and the Trump administration on Tuesday warned that a key program to help small businesses survive the coronavirus pandemic was running out of money, pressuring Democrats to agree on an emergency infusion of aid.

A broad rebound in U.S. stocks is leaving behind shares of some supermarkets, household product makers and other staples companies that provided a haven in last month's coronavirus-fueled selloff.

Delta Air Lines has taken over an order worth roughly $3 billion at list prices for 10 Airbus A350 jets from Latam Airlines Group , the Chilean carrier said.

Wizz Air is making plans to fly jets only two-thirds full to allow more space between passengers, it said on Tuesday, as airlines voiced concerns that anti-coronavirus measures could blight their profitability long after travel restrictions end.

Standard Chartered Plc is the first major global bank to tell employees not to use Zoom Video Communications Inc during the coronavirus pandemic due to cybersecurity concerns, according to a memo seen by Reuters.

Rolex, Patek Philippe and Chanel will not exhibit at MCH Group's Baselworld watch and jewellery trade show in 2021, they said on Tuesday, another blow to the flagging event that has already seen high-profile exits including Swatch Group .

The global economy is expected to shrink by 3.0% during 2020 in a stunning coronavirus-driven collapse of activity that will mark the steepest downturn since the Great Depression of the 1930s, the International Monetary Fund said on Tuesday.

General Motors Co said on Tuesday it has started mass production of ventilators needed to treat severely sick coronavirus patients and would deliver the first batch of the medical equipment to the United States government this month.

Johnson & Johnson on Tuesday said it expects its medical device business to begin recovering in the fourth quarter as elective medical procedures delayed by the coronavirus pandemic start to resume.

The main things investors wanted to learn from first-quarter results by JPMorgan Chase & Co and Wells Fargo & Co on Tuesday was just how bad the coronavirus recession is going to get and how long it will take to get back to normal.

General Motors Co said on Tuesday the first batch of ventilators needed to treat severely sick coronavirus patients were ready for delivery to the United States government.

Texas energy regulators on Tuesday started to hear from dozens of energy executives on an initiative calling for the state to mandate an output cut to stem the sharpest oil price drop in decades.

JPMorgan Chase & Co's profit plunged by more than two-thirds in the first quarter as the largest U.S. bank put aside nearly $7 billion in reserves to protect it from a wave of potential loan defaults in the months ahead.

President Donald Trump said on Monday it was his decision when to reopen the U.S. economy, which has been largely shut down to slow the spread of the novel coronavirus.

Fiat Chrysler said on Tuesday it had successfully completed the syndication of a 3.5 billion euro ($3.8 billion)credit facility which it had agreed last month with two banks.

Wall Street jumped on Tuesday as hopes that President Donald Trump could move to ease coronavirus-induced lockdowns overshadowed dismal quarterly earnings reports from JPMorgan and Wells Fargo.

Oil prices fell around 6% on Tuesday as investors doubted that record OPEC+ supply cuts would soon balance markets as demand plunges due to the coronavirus pandemic.

Amazon will have to limit its deliveries in France to essential goods like food and medical supplies while it carries out a more thorough assessment of the risk of coronavirus contagion at its warehouses, a French court ruled on Tuesday.

Shares of Tesla Inc surged 12% on Tuesday after Credit Suisse upgraded its rating on the electric carmaker and as Wall Street rallied on optimism the coronavirus outbreak was reaching a plateau.

German sports retailer Adidas on Tuesday said it received approval for a syndicated 3 billion-euro ($3.3 billion) government-backed loan to mitigate the financial impact on its business from the spread of the coronavirus.