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Updated: 4 years 29 weeks ago
Gap pulls forecast, suspends dividend, taps $500 million credit as coronavirus bites
Gap Inc on Thursday withdrew its full-year forecast issued just two weeks ago, suspended its dividend and said it will draw down on its entire $500 million credit facility as the apparel retailer looks to weather the coronavirus crisis.
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EU lawmakers back suspension of airline slots rule until October
European lawmakers overwhelmingly agreed on Thursday to suspend until Oct. 24 a rule requiring airlines to use at least 80% of their flight slots to keep them the following year so as to ease an industry crisis unleashed by the coronavirus pandemic.
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Exclusive: Ross Stores, other retailers cancel vendor orders following coronavirus hit
After closing stores around the world to curb the spread of the coronavirus, retailers are now telling some vendors to immediately cancel orders.
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GM extends North American shutdown, does not set restart date
General Motors Co said Thursday it will extend a shutdown of its North American plants beyond March 30, but added it does not know when it will restart operations.
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Time to buy stocks again, market mavens say
BlackRock, Credit Suisse and some other big banks reckon it is time to get back into equities after markets rallied this week following massive government and central bank stimulus packages to fight fallout from the coronavirus crisis.
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Wall Street powers stocks higher on $2 trillion stimulus; dollar takes a hit
A Wall Street rally led global gains in stocks on Thursday despite a record number of new unemployment filings in the United States, as traders focused on the unanimous passage of a $2 trillion coronavirus relief bill in the U.S. Senate and the possibility of more stimuli to come.
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Petrobras' divestment push in Brazil challenged by oil price war
A move by Brazil's Petrobras on Thursday to slash output, capital spending and dividends brings the state-run oil firm into alignment with global rivals confronted with a global pandemic and a plunge in crude prices.
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U.S. home healthcare industry warns of possible 'collapse'
Home healthcare providers, the lifelines to 12 million vulnerable Americans, are scrambling to decide how to serve patients who show symptoms of coronavirus -- and how to ensure that the providers themselves neither catch nor spread it.
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Ford to restart U.S. truck plants in April to beat pandemic-linked cash squeeze
Ford Motor Co announced plans on Thursday to shore up its finances amid the coronavirus pandemic, aiming to generate more cash by resuming production next month of its most profitable vehicles while saving money through further cost cuts.
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Wall Street surges in third straight day of gains
Wall Street rallied for a third straight session on Thursday as record weekly jobless claims came in below investors' worst fears and investors focused on an unprecedented $2 trillion stimulus awaiting approval by the U.S. House of Representatives.
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Oil sheds more than $1 as weakening demand outweighs stimulus hopes
Oil prices dropped more than $1 a barrel on Thursday as a growing number of virus-related restrictions on travel slashed global fuel demand, overshadowing expectations that a $2 trillion U.S. stimulus package will bolster economic activity.
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Exclusive: Ross Stores tells vendors it will cancel merchandise orders through mid-June
Ross Stores Inc said in a letter to vendors on Thursday it would cancel all merchandise purchase orders through June 18 due to the impact the coronavirus has had on its business.
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Two Tesla employees test positive for coronavirus: company email
Two employees of Tesla Inc have tested positive for coronavirus but have been working from home for the past two weeks and had not been symptomatic at work, Tesla said in an email to employees on Thursday.
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Exclusive: Capital One got CFTC waiver after oil price plunge increased swap exposure - sources
U.S. lender Capital One Financial Corp got a waiver from the Commodity Futures Trading Commission (CFTC) after plunging oil prices increased the bank's derivatives exposure above a key regulatory threshold, according to two sources with knowledge of the matter.
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Exclusive: Cirque du Soleil explores options including bankruptcy - sources
Cirque du Soleil Entertainment Group is exploring debt restructuring options that include a potential bankruptcy filing, after it was forced to cancel shows because of the coronavirus outbreak, people familiar with the matter said.
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Czech breweries roll back the barrels, turn to bottles and cans
Czech breweries -- including Pilsner Urquell and Budejovicky Budvar -- have stopped refilling kegs and started storing their beer in cooled cellars as they seek to limit damage from pub closures caused by the coronavirus outbreak.
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Virtual tours, coronavirus clauses: Pandemic up-ends homebuying across the U.S.
Prospective buyers arriving at Betsy and Eric Melby's house for sale in Memphis, Tennessee, last week were greeted by a large pump bottle of hand sanitizer and a box of disposable gloves.
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Wall Street leads stocks up on $2 trillion stimulus; dollar takes a hit
A Wall Street rally powered global gains in stocks on Thursday despite a record number of new unemployment filings in the United States, as traders focused on the unanimous passage of a $2 trillion coronavirus relief bill in the U.S. Senate and the possibility of more stimulus to come.
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Online learning rockets in coronavirus pandemic, says Pearson
Britain's Pearson has seen an "explosion" in demand for online learning, with traffic across its platforms quadrupling as millions of children start to adapt to home schooling during the coronavirus pandemic, its chief executive said.
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U.S. corporate crisis bailouts may prove bonanza for insider trading, new study warns
White-collar crime prosecutors and defense attorneys are likely to be busy following a massive economic stimulus package from the U.S. Congress aimed at mitigating the fallout from the coronavirus, according to a new academic study of insider trading.
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