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Updated: 4 years 30 weeks ago
Lazard boosts restructuring team as coronavirus-hit firms run into trouble
Lazard Ltd has bolstered its senior restructuring team as it seeks to win business from companies struggling to stay afloat in the midst of the economic turbulence caused by the global coronavirus pandemic.
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Man GLG hires Asia equities head from rival BlackRock
Man GLG, the discretionary investment arm of asset manager Man Group , has hired Andrew Swan from rival BlackRock to lead its Asia ex-Japan equities business, it said on Thursday.
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U.S. weekly jobless claims seen underscoring deepening economic slump
Millions more Americans likely sought unemployment benefits last week, lifting total filings for claims over the past month above an astounding 20 million, which would underscore the deepening economic slump caused by the novel coronavirus outbreak.
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Dollar extends gains as U.S. retail slump sparks flight to safety
A flight to safety bid pushed the dollar higher against its peers on Thursday after dire retail and factory data showed the severity of the collapse in U.S. economic activity caused by the novel coronavirus outbreak.
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Stocks slide as dire economic outlook weighs
World stock markets fell on Thursday, while bonds and the dollar held on to hefty gains, after a coronavirus-driven plunge in U.S. retail sales and factory production and increasing gloomy economic outlooks for Asia.
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United cuts May schedule by 90%, tells employees to brace for job cuts: memo
United Airlines Holdings Inc told employees on Wednesday that it has cut its flight schedule by 90% in May and possibly June, and to prepare for a smaller airline and workforce starting as early as Oct. 1.
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With confidence shattered, the road to a 'normal' U.S. economy looks long
U.S. air travel was shut down for three days after the Sept. 11, 2001, attacks. It took three years for the industry to recover despite toughened passenger screening and the creation of a new agency devoted to transportation security.
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Exclusive: New York taps McKinsey to develop 'Trump-proof' economic reopening plan
New York Governor Andrew Cuomo has hired high-powered consultants to develop a science-based plan for the safe economic reopening of the region that can thwart expected pressure from President Donald Trump to move more rapidly, state government sources told Reuters on Wednesday.
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Oil bounces back as rising stockpiles seen pointing to lower output amid coronavirus
Oil rose on Thursday, with U.S. crude rebounding from near-20-year lows in the previous session on hopes that a big build-up in U.S. inventories may mean producers have little option but to deepen output cuts as the coronavirus pandemic ravages demand.
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Trump to announce 'guidelines' on reopening U.S. economy Thursday
U.S. President Donald Trump said on Wednesday that data suggested the country had passed the peak on new coronavirus infections, and said he would announce "new guidelines" for reopening the economy at a news conference on Thursday.
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Wells Fargo, BofA and JPMorgan grant overdraft relief as stimulus checks roll in
The top U.S. retail banks said on Wednesday they would provide relief to customers who had overdrawn checking accounts, so that they could reap the full benefits of the federal government's cash stimulus program.
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Tesla, Musk must face shareholder lawsuit over going-private tweet
A federal judge said Tesla Inc and Chief Executive Elon Musk must face a lawsuit claiming they misled shareholders when Musk tweeted that he had secured funding to take his electric car company private in a $72 billion transaction.
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J.C. Penney skips interest payment amid bankruptcy fears
J.C. Penney Co Inc said on Wednesday it will not make a $12 million interest payment on its long-term corporate bonds, a day after Reuters reported the department store operator was considering filing for bankruptcy protection.
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Best Buy to furlough 51,000 hourly U.S. store employees
Best Buy Co Inc said on Wednesday it would furlough about 51,000 hourly U.S. store employees and that its sales dropped about 5% in the first two months of the current quarter, as the electronics retailer kept its stores shut due to the coronavirus pandemic.
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Dollar stands tall as U.S. retail slump fans flight to safety
A flight to safety bid pushed the dollar higher against its peers on Thursday after dire retail and factory data showed the severity of the collapse in U.S. economic activity caused by the novel coronavirus pandemic.
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Royal Caribbean sheds 26% of U.S. workforce as coronavirus hits travel
Royal Caribbean Cruises Ltd said on Wednesday it would lay off or furlough about 26% of its workforce in the United States, affecting nearly 1,300 of its more than 5,000 employees in the country, as the coronavirus chokes international travel.
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Samsung to tap Xilinx chips for 5G network equipment
American semiconductor firm Xilinx Inc said on Wednesday it had won a deal to supply chips to Samsung Electronics Co Ltd for 5G networking equipment.
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Google to slow hiring for rest of 2020, CEO tells staff
Alphabet Inc's Google will slow hiring for the rest of the year, Chief Executive Officer Sundar Pichai told the company's staff in a memo on Wednesday.
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Asia stocks set to tumble as investors fear worst recession since 1930s
Asian stocks look set to tumble on Thursday, as fears that the world is in its worst recession since the 1930s were heightened by data showing U.S. retailers suffered a record sales collapse in March due to the coronavirus outbreak.
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Exclusive: Major U.S. airlines eyeing government loans after grants - sources
Several major U.S. airlines are preparing to apply this week for a $25 billion U.S. government loan program after winning billions in federal payroll grants, people familiar with the matter said, as the industry braces for a slow recovery from the coronavirus pandemic.
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