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S&P 500 edges higher after mixed retail earnings

Reuters Business News - Tue, 05/19/2020 - 14:05
The S&P 500 edged up on Tuesday, taking a breather a day after its best one-day performance in six weeks, as investors attempted to glean information from a mixed bag of results from major retailers such as Walmart and Home Depot.
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American Airlines may use loyalty program as collateral for U.S. debt: President

Reuters Business News - Tue, 05/19/2020 - 14:01
American Airlines Group Inc may use its Advantage loyalty program as collateral for a secured U.S. government loan, President Robert Isom said at a conference on Tuesday, noting that government talks are ongoing.
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FAA to mandate new safety-management tools for airplane manufacturers

Reuters Business News - Tue, 05/19/2020 - 12:50
The Federal Aviation Administration said Tuesday it would require Boeing Co and other aircraft manufacturers to adopt new safety-management tools in the wake of two fatal Boeing 737 MAX crashes that killed 346 people.
Categories: Reuters

Fed, Treasury chiefs face heat over uneven U.S. coronavirus response

Reuters Business News - Tue, 05/19/2020 - 12:36
Federal Reserve Chair Jerome Powell and Treasury Secretary Steven Mnuchin found themselves in the hot seat on Tuesday as U.S. lawmakers grilled them about the uneven nature of the fiscal response to the fallout from the coronavirus pandemic.
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Oil dips as U.S. Senate grills Fed chair, Treasury secretary

Reuters Business News - Tue, 05/19/2020 - 12:05
Oil prices pulled back slightly on Tuesday as a U.S. Senate committee grilled Federal Reserve Chair Jerome Powell and Treasury Secretary Steven Mnuchin about aid packages intended to bolster the economy.
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Airlines say ticket cancellations slowing but demand recovery still distant

Reuters Business News - Tue, 05/19/2020 - 12:04
Top U.S. airlines and Air Canada on Tuesday reported slower ticket cancellations and an improvement in bookings on some routes, sending their shares higher, though executives warned that rebuilding demand to pre-pandemic levels would be tough.
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S&P 500 flat after mixed retail earnings

Reuters Business News - Tue, 05/19/2020 - 11:59
The S&P 500 was largely unchanged on Tuesday, after a strong rally in the prior session, as investors sifted through a mixed batch of results from major retailers including Walmart and Home Depot.
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Fiat Chrysler's loan request raises doubts about 5.5 euro billion dividend

Reuters Business News - Tue, 05/19/2020 - 11:44
Italy could look into Fiat Chrysler's planned 5.5 billion euro ($6 billion) payout as part of its merger with Peugeot after the Italian-American carmaker asked for a 6.3 billion euro state-backed loan, a senior government source said.
Categories: Reuters

Lucky U.S. chickens fly the coop as pandemic hits egg demand

Reuters Business News - Tue, 05/19/2020 - 11:43
About 1,000 lucky chickens flew on two chartered cargo planes to a California sanctuary from an Iowa farm that has been euthanizing its flock as the coronavirus outbreak slashes restaurant demand for eggs, an animal rights group said.
Categories: Reuters

Lufthansa expects hundreds of aircraft to be grounded until 2022

Reuters Business News - Tue, 05/19/2020 - 11:36
Lufthansa is bracing for hundreds of aircraft to remain grounded due to the coronavirus pandemic well into 2022 and that further job cuts at its maintenance and catering businesses were inevitable.
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Walmart sales surge at stores and online on coronavirus-led demand

Reuters Business News - Tue, 05/19/2020 - 11:33
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

Reuters Business News - Tue, 05/19/2020 - 11:10
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

Reuters Business News - Tue, 05/19/2020 - 11:07
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

Reuters Business News - Tue, 05/19/2020 - 10:59
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

Reuters Business News - Tue, 05/19/2020 - 10:30
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.
Categories: Reuters

Asda CEO expects resumption of stake sale talks when Walmart ready

Reuters Business News - Tue, 05/19/2020 - 10:30
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

Reuters Business News - Tue, 05/19/2020 - 10:29
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.
Categories: Reuters

S&P 500 steady after mixed retail earnings

Reuters Business News - Tue, 05/19/2020 - 10:25
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.
Categories: Reuters

JPMorgan shareholders back bank's directors, executive pay at annual meeting

Reuters Business News - Tue, 05/19/2020 - 10:23
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.
Categories: Reuters

Trump wants 7.6% payroll tax cut to help staunch coronavirus economic pain: Kudlow

Reuters Business News - Tue, 05/19/2020 - 10:12
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.
Categories: Reuters
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