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Updated: 4 years 29 weeks ago
Walmart sales surge at stores and online on coronavirus-led demand
Walmart Inc emerged among the winners of the coronavirus lockdowns, beating Wall Street's quarterly revenue and profit forecasts and setting an online sales record as millions of consumers stocked up on food and cleaning supplies.
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GM says it is 'almost there' on million-mile electric vehicle battery
General Motors Co is "almost there" on developing an electric vehicle battery that will last one million miles, a top executive said on Tuesday.
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France's Renault reaches deal on 5 billion euro state-backed loan: sources
French carmaker Renault has sealed a deal with banks on a 5 billion-euro ($5.47 billion) state-guaranteed loan to help the company to cope with the coronavirus outbreak, two sources close to the matter told Reuters on Tuesday.
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Airlines say ticket cancellations slowing; Delta sees cash flow break-even this year
Top U.S. airlines and Air Canada on Tuesday reported slower ticket cancellations and signs of improving demand, with Delta Air Lines Inc saying its cash flow was on track to reach break-even by the end of the year.
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British retailer Asda's customers fear economic depression
British supermarket group Asda got a sales boost in the first quarter from consumers stocking up before the coronavirus lockdown but it also highlighted that 90% of its shoppers now fear an economic depression.
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Asda CEO expects resumption of stake sale talks when Walmart ready
Talks between Walmart and possible buyers of a majority stake in its British supermarket Asda will likely resume when the industry settles into a "new norm" with the worst of the coronavirus crisis behind it, the boss of Asda said on Tuesday.
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Microsoft to adapt its cloud software for healthcare industry
Microsoft Corp said on Tuesday it plans to roll out a version of its cloud-based software that will be modified to suit the needs of healthcare organizations.
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S&P 500 steady after mixed retail earnings
The S&P 500 was trading flat on Tuesday, handing back some gains from a strong rally in the previous session, as investors digested a mixed set of quarterly results from retailers including Home Depot and Walmart.
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JPMorgan shareholders back bank's directors, executive pay at annual meeting
JPMorgan Chase & Co shareholders voted to reelect each of the bank's board members, with each director receiving at least 84% of the shares voted, according to initial tallies.
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Trump wants 7.6% payroll tax cut to help staunch coronavirus economic pain: Kudlow
White House economic adviser Larry Kudlow said on Tuesday that President Donald Trump wants to see a 7.6% cut in the U.S. payroll tax, hoping it will help staunch economic pain caused by the COVID-19 pandemic.
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S&P 500, Dow edge lower after mixed retail earnings
The S&P 500 and Dow Jones indexes eased on Tuesday, handing back some gains from a strong rally in the previous session, as investors digested a mixed set of quarterly results from retailers including Home Depot and Walmart.
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Trump administration awards contract to make COVID-19 drugs in U.S.
U.S. President Donald Trump's administration awarded a contract worth up to $812 million for a new U.S. company to manufacture drugs and drug ingredients to fight COVID-19 on American soil, aiming to end dependence on other countries.
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Home Depot misses profit estimates as coronavirus costs weigh
Home Depot Inc missed estimates for quarterly profit on Tuesday, as the home improvement chain spent about $850 million on benefits for employees keeping its stores and warehouses running through the COVID-19 pandemic.
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Exclusive: Exxon revives sale of stake in giant Azeri oilfield
Exxon Mobil has relaunched the sale of its stake in Azerbaijan's largest oilfield, the company said on Tuesday, as banking and industry sources said the move was drawing interest from large Asian oil and gas companies seeking to capitalize on the recent collapse in oil prices.
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Few U.S. oil and gas firms return small-business COVID-19 loans
U.S. securities filings show that only four of 12 listed oil and gas companies that received emergency government aid made available for small businesses said they would return it ahead of a deadline for firms that do not need the funds to do so.
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S&P recovery will be far faster than 2008: Citigroup
U.S. stock markets will deliver among the steepest recoveries in their history over the next year, returning to levels from before March's coronavirus lockdowns more than twice as fast as after the 2008 financial crisis, according to analysts from U.S. bank Citigroup.
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Citigroup launches new ESG investment banking group
Citigroup Inc said on Tuesday that is launching a new business unit within its corporate and investment bank dedicated to environmental sustainability to strengthen its commitment to an area that has grown increasingly important to corporate clients and investors.
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North American airlines say ticket cancellations slowing, demand improving
Two top U.S. airlines and Air Canada said on Tuesday ticket cancellations were slowing and demand was showing signs of improvement since the coronavirus pandemic brought global travel to a virtual standstill last month.
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Oil rises on signs of output cuts and demand hopes
Oil prices rose on Tuesday amid signs that producers are cutting output as promised and on signs of increasing demand as more countries ease out of curbs imposed to counter the coronavirus pandemic.
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'Nothing off-limits': Thyssenkrupp could sell steel business in historic shift
Thyssenkrupp could sell most of its steelmaking division, its CEO said on Tuesday, marking a historic reversal in strategy for the German conglomerate which has built its 200-year-old legacy as an industrial champion on the business.
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