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Updated: 4 years 28 weeks ago
Costco beats revenue estimates as consumer stockpile essentials
Warehouse club operator Costco Wholesale Corp beat quarterly revenue estimates on Thursday, as people stocked up on essentials before hunkering down in their homes to contain the spread of the coronavirus.
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Dell beats revenue estimates as remote working lifts workstation demand
Dell Technologies Inc beat analysts' estimates for quarterly revenue on Thursday, boosted by demand for its workstations from companies moving more employees to work from home due to the coronavirus outbreak.
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Italy's credit agency SACE approves state guarantees for FCA $7 billion bank loan: source
The board of Italy's export credit agency SACE has approved state guarantees covering 80% of a 6.3 billion euro ($7 billion) bank loan for Fiat Chrysler , a source close to the matter said on Thursday.
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LATAM's bankruptcy filing to delay its Brazil bailout to at least July: sources
LATAM Airlines Group's U.S. bankruptcy filing this week will delay its potential bailout in Brazil to at least July and also push back aid to its rivals at least through the end of June, two sources said on Thursday.
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Salesforce cuts annual sales estimates on COVID-19 hit
Salesforce.com Inc cut its annual revenue forecast on Thursday, citing the impact of the COVID-19 pandemic.
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Costco Wholesale revenue rises 7.3% on coronavirus-induced stockpiling
Warehouse club operator Costco Wholesale Corp reported a 7.3% increase in quarterly revenue on Thursday, as people stocked up on essentials before hunkering down in their homes to contain the spread of the coronavirus.
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Exclusive: TikTok owner ByteDance moves to shift power out of China - sources
TikTok's poaching of Disney's Kevin Mayer to be its CEO was just the most visible part of a broader strategy by its Chinese owner to shift its centre of power away from China at a time of rising global tensions, several people familiar with the plans said.
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Trump directs AG to boost enforcement of state laws on social media companies
U.S. President Donald Trump said on Thursday that he is directing Attorney General William Barr to work with states to enforce their own laws against what he described as deceptive business practices by social media companies.
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Trump set to order review of law that protects social media companies
U.S. President Donald Trump is expected to order a review of a law that has long protected internet companies, including Twitter and Facebook, an extraordinary attempt to intervene in the media that experts said was unlikely to survive legal scrutiny.
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Wall Street ends down in late selloff; Facebook weighs
Wall Street ended lower on Thursday following a late-session reversal, with Facebook weighing on the market after President Donald Trump said he would sign an executive order related to social media companies and said he would hold a news conference on China on Friday.
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S&P cuts Rolls-Royce credit rating to junk on COVID-19 hit
Ratings agency Standard & Poor's cut engine maker Rolls-Royce's credit rating to junk on Thursday, citing the disruption caused to global air travel from the COVID-19 pandemic.
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Oil rises as higher U.S. refinery rates offsets surprise crude build
Oil futures rose about 2% on Thursday as a steady improvement in U.S. refining activity offset a surprise build in crude and diesel inventories and on worries that China's new Hong Kong security law could result in trade sanctions.
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Masks, cleaning, filtration better than blocking middle seats: United CEO
United Airlines Holdings Inc Chief Executive Scott Kirby said on Thursday that facial masks, aircraft cleaning and air filtration systems are better measures for preventing the spread of the coronavirus on airplanes than trying to social distance.
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Fed's Kaplan says U.S. economy has bottomed, ties rebound to testing
The U.S. economy has likely bottomed, Dallas Federal Reserve Bank President Robert Kaplan said on Thursday, but a healthy rebound depends on a massive increase in testing so that people feel comfortable resuming traveling, dining out and other pre-crisis activities.
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German auto supplier ZF Friedrichshafen to cut up to 15,000 jobs: memo
German car parts supplier ZF Friedrichshafen plans to reduce the workforce by up to 15,000 jobs, or around 10%, by 2025 as a result of a slump in demand, according to a memo on Thursday.
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Wall Street climbs on healthcare, tech push
U.S. stocks rose again on Thursday, boosted by healthcare and technology stocks, as investors continued to bet on a swift recovery from the coronavirus-driven economic slump.
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U.S. major airlines roll out more options to avoid staff lay-offs
The top three U.S. airlines, hit hard by the coronavirus pandemic, are rolling out fresh programs to induce tens of thousands of employees to accept voluntary leave or early retirement in the hope of avoiding widespread furloughs in the fall, company memos show.
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COVID-19 infects more than 3,000 U.S. meatpacking workers: union
More than 3,000 U.S. meatpacking workers have tested positive for COVID-19 and at least 44 workers have died, the country's largest meatpacking union said on Thursday, reflecting an increasing toll on plant employees.
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Trump could sign order on social media companies later on Thursday: White House
U.S. President Donald Trump could sign an executive order on social media companies later on Thursday, but the timing could change, White House Press Secretary Kayleigh MacEnany said, after Twitter urged readers to check facts in tweets sent by Trump earlier this week for the first time.
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General Electric cash flow forecast disappoints, shares fall
General Electric expects to burn more cash than expected in the second quarter, as the industrial conglomerate struggles with weakness in its aviation business due to the coronavirus crisis, Chief Executive Officer Larry Culp said on Thursday.
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