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Hyundai to provide COVID 19 tests, 'drive through' testing support in U.S.

Reuters Business News - Tue, 04/14/2020 - 09:09
Hyundai Motor Co's North American unit will expand its support for "drive through" testing for the coronavirus and donate 65,000 tests to hospitals in the United States, the South Korean automaker said on Tuesday.
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Delta absorbs order for 10 Airbus A350 jets cancelled by Latam: sources

Reuters Business News - Tue, 04/14/2020 - 08:59
Delta Air Lines has taken over an order worth roughly $3 billion at list prices for 10 Airbus A350 jetliners from Latam Airlines Group ), two industry sources said.
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Wells Fargo first-quarter profit decimated as coronavirus boosts provisions

Reuters Business News - Tue, 04/14/2020 - 08:45
Wells Fargo & Co on Tuesday reported a plunge in first-quarter profit as the U.S. bank set aside billions of dollars to cover potential loan-losses from the coronavirus pandemic.
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JPMorgan profit plunges as banks brace for coronavirus hit

Reuters Business News - Tue, 04/14/2020 - 08:39
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.
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Global airline hit from coronavirus rises to $314 billion: IATA

Reuters Business News - Tue, 04/14/2020 - 08:28
Global airlines will lose $314 billion in revenue due to the coronavirus pandemic in 2020 according to a forecast from the industry's representative body IATA, which raised its estimate from the $252 billion figure given on March 24.
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NMC Health board revamped by administrators

Reuters Business News - Tue, 04/14/2020 - 08:21
The administrators of troubled hospital operator NMC Health have announced a new board for the London-listed company, bringing in four non-executive directors with international restructuring experience.
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J&J beats profit estimates but coronavirus fuels forecast cut

Reuters Business News - Tue, 04/14/2020 - 08:18
Johnson & Johnson on Tuesday beat analysts' estimates for first-quarter profit on higher sales of its cancer drugs and consumer products including Tylenol, while cutting its full-year forecast due to coronavirus shutdowns.
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Cisco offers big payment deferrals until 2021 as companies seek remote-work tools

Reuters Business News - Tue, 04/14/2020 - 08:07
Cisco Systems Inc on Tuesday launched a $2.5 billion financing program that lets its customers defer 95% of payments until 2021, giving companies additional leeway at time when some are facing a cash crunch but also need more remote-work tools.
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Alphabet soup: How will post-virus economic recovery shape up?

Reuters Business News - Tue, 04/14/2020 - 08:01
(This story had been refiled to add missing words in paragraph 16 of story first published April 9.)
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China data lifts futures as JPMorgan, J&J kick off earnings

Reuters Business News - Tue, 04/14/2020 - 07:55
U.S. stock index futures gained 1% on Tuesday on better-than-expected trade data from China and signs some economies were preparing to ease lockdowns, even as the first batch of earnings reports underlined the hit from the coronavirus outbreak.
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Dash for cash as most investors expect drawn-out recovery: BofA survey

Reuters Business News - Tue, 04/14/2020 - 07:54
Investors have been hoarding cash at a rate not seen since the immediate aftermath of the 9/11 attacks of 2001, BofA's April fund manager survey showed, as the coronavirus roiled global financial markets.
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JPMorgan profit plunges on coronavirus loan provisions

Reuters Business News - Tue, 04/14/2020 - 07:41
JPMorgan Chase & Co's quarterly profit slumped by more than two-thirds as the coronavirus pandemic and record low oil prices forced the largest U.S. bank to boost reserves to protect it from a wave of potential loan defaults.
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Johnson & Johnson beats profit estimates but cuts forecast on coronavirus uncertainty

Reuters Business News - Tue, 04/14/2020 - 07:32
Johnson & Johnson on Tuesday beat analysts' estimates for first-quarter profit on higher sales of its cancer drugs and consumer products including Tylenol, while slashing its full-year forecast due to the coronavirus shutdowns.
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Britain's Next re-opens online before maxing out daily limit

Reuters Business News - Tue, 04/14/2020 - 07:31
British clothing retailer Next hit a self-imposed daily limit within hours of re-opening its online business on Tuesday, indicating consumer demand during the coronavirus lockdown.
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Barclays halts new job cuts during coronavirus crisis: memo

Reuters Business News - Tue, 04/14/2020 - 07:30
Barclays has halted new job cuts while the coronavirus crisis is ongoing, the bank said in an internal memo seen by Reuters on Tuesday.
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Ten U.S. states developing 'reopening' plans account for 38% of U.S. economy

Reuters Business News - Tue, 04/14/2020 - 07:27
The ten U.S. states coordinating plans separately from the White House to reopen businesses shut by the coronavirus are responsible for an outsized proportion of the U.S. economy.
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Spain seizes virus tests bound for returning Siemens Gamesa workers: union

Reuters Business News - Tue, 04/14/2020 - 07:17
Spanish authorities have requisitioned 2,000 antibody tests procured by wind turbine maker Siemens Gamesa and intended to check whether employees have been infected with the coronavirus, a labour union spokeswoman said on Tuesday.
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Stocks rise on China trade data, easing pandemic fears

Reuters Business News - Tue, 04/14/2020 - 07:09
World stocks gained on Tuesday after Chinese trade data came in better than expected and some countries tried to restart their economy by partly lifting restrictions aimed at containing the coronavirus outbreak.
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Pandemic survival plans: U.S. businesses scramble to conserve cash, boost liquidity

Reuters Business News - Tue, 04/14/2020 - 06:59
Charlie Straface, president of Norwegian aluminum maker Norsk Hydro's North American extrusion operations, convenes a coronavirus task force every other day to draw up cost-cutting measures to offset declining revenues and protect the unit's cash balance during the economic slump related to the outbreak.
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Oil slips as producer cuts fail to banish demand fears

Reuters Business News - Tue, 04/14/2020 - 06:56
Oil prices edged lower on Tuesday, with investors apparently unconvinced that record supply cuts could soon balance markets pummeled by the coronavirus pandemic, though a predicted plunge in U.S. shale output provided some support.
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