Reuters Business News
Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals.
Updated: 4 years 29 weeks ago
U.S. existing home sales post largest decline in nearly 10 years
U.S. home sales logged their biggest drop in nearly 10 years in April as the novel coronavirus pandemic upended the labor market and broader economy, undercutting demand for housing.
Categories: Reuters
Best Buy sees margin pressure as online demand raises delivery spend
Best Buy Co Inc said on Thursday it expects profit margins to be under pressure in the second quarter, as it spends more on expanding delivery services to support a surge in online shopping from people staying at home due to the COVID-19 pandemic.
Categories: Reuters
The slow reopen: Retail visits edge up, broader economic measures still unmoved
The U.S. continued its cautious reemergence from a coronavirus-linked shutdown over the past week, with measures of retail foot traffic slowly increasing but broader indexes of economic activity still stalled.
Categories: Reuters
Wall Street dips as trade tensions add to virus woes
U.S. stock indexes edged lower at the open on Thursday as growing Sino-U.S. tensions and mixed retail earnings added to worries about the pace of a recovery from a coronavirus-fueled economic slump.
Categories: Reuters
TJX says sales recovering after coronavirus slump
TJX Cos Inc said it was seeing very strong sales at its stores reopened post-coronavirus lockdowns, offering hope of a swift recovery after a huge quarterly loss due to closures and a resulting decline in sales, sending its shares up 6% on Thursday.
Categories: Reuters
Starbucks recoups nearly two-thirds of comparable U.S. sales as stores reopen
Starbucks Corp said on Thursday it had regained nearly two-thirds of its comparable U.S. store sales from the prior year, as it reopened stores and modified operations due to the coronavirus-related restrictions.
Categories: Reuters
Macy's warns of up to $1 billion quarterly loss due to lockdowns
Macy's Inc said on Thursday it could rack up operating losses of up to $1.11 billion in the first quarter, as the department store operator was forced to shut stores due to lockdowns aimed at curbing the spread of the new coronavirus.
Categories: Reuters
BlackRock says all director nominees elected, executive pay approved
BlackRock Inc said on Thursday that all 16 of its director nominees were elected with favorable votes of about 94% at its annual meeting.
Categories: Reuters
U.S. weekly jobless claims remain high as backlogs, layoffs linger
Millions more Americans filed for unemployment benefits last week as backlogs continue to be cleared and disruptions from the novel coronavirus unleash a second wave of layoffs, pointing to another month of staggering job losses in May.
Categories: Reuters
Gap rushes in more robots to warehouses to solve virus disruption
U.S. apparel chain Gap Inc is speeding up its rollout of warehouse robots for assembling online orders so it can limit human contact during the coronavirus pandemic, the company told Reuters.
Categories: Reuters
Shares lose footing, oil marches on
Equity markets slipped on Thursday on concerns about the long-term impact of the new coronavirus and simmering U.S.-China tensions, though those worries couldn't stop oil prices from marching to a 2-1/2 month high.
Categories: Reuters
Wall Street set to fall as trade tensions add to virus woes
U.S. stock indexes eyed a weaker open on Thursday as growing Sino-U.S. tensions and weak retail earnings added to worries about the pace of a recovery from a coronavirus-fueled economic slump.
Categories: Reuters
Lufthansa closes in on $10 billion state rescue deal
Lufthansa is in advanced talks over a 9 billion euros ($9.9 billion) state bailout that would see Germany take a 20% stake in its flagship airline, as countries battle to save an aviation industry hammered by the coronavirus pandemic.
Categories: Reuters
Could coronavirus help Amazon workers unionize?
Warehouse employees last month staged a walkout in Michigan to demand safer working conditions at their facility. So did workers in New York, Illinois and Minnesota.
Categories: Reuters
TJX's quarterly sales more than halve amid pandemic
TJX Cos Inc's first-quarter sales more than halved on Thursday, as the off-price retailer's stores and online operations remained shut for most of the quarter due to coronavirus-led lockdowns.
Categories: Reuters
Futures retreat as trade tensions add to pandemic woes
U.S. stock index futures fell on Thursday as growing trade tensions with China added to worries about the pace of a recovery from a coronavirus-fueled economic slump even with several countries easing lockdowns.
Categories: Reuters
Best Buy revenue, profit beat estimates as online sales surge
Best Buy Co Inc's quarterly revenue and profit topped analysts' estimates on Thursday due to a surge in online sales of electronics needed for consumers to work from home.
Categories: Reuters
Trump to visit Ford plant in battleground state Michigan amid tensions with governor
U.S. President Donald Trump travels to the political swing state of Michigan on Thursday to visit a Ford plant amid tension with the state's Democratic governor and differences over the speed at which the country is reopening from its COVID-19 shutdown.
Categories: Reuters
Best Buy quarterly same-store sales fall over 5%
Best Buy Co Inc reported a 5.3% fall in quarterly same-store sales on Thursday, as the electronics retailer had to close stores due to the COVID-19 pandemic.
Categories: Reuters
Backlogs, second wave of layoffs keeping U.S. weekly jobless claims high
Millions more Americans likely filed for unemployment benefits last week as backlogs continue to be cleared and disruptions from the novel coronavirus unleash a second wave of layoffs, pointing to another month of staggering job losses in May.
Categories: Reuters