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Amid lockdown dispute, Musk says he will move Tesla out of California

Reuters Business News - Sat, 05/09/2020 - 19:16
Tesla Inc's chief executive Elon Musk tweeted on Saturday that Tesla will move its headquarters and future programs to Texas or Nevada from California immediately.
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Mazda Motor seeks $2.8 billion in loans to ride out pandemic: source

Reuters Business News - Sat, 05/09/2020 - 10:15
Mazda Motor Corp has sought loans totalling about 300 billion yen ($2.8 billion) from Japan's three megabanks and other lenders to ride out the coronavirus epidemic, a source with direct knowledge of the matter said on Saturday.
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NCAA president: Sports won't return until campuses reopen

Reuters Business News - Sat, 05/09/2020 - 07:24
College sports will not resume until all students are back on campus, NCAA president Mark Emmert said Friday.
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No 'V'-shape return from devastating U.S. job loss, Fed policymakers say

Reuters Business News - Sat, 05/09/2020 - 05:14
As many parts of the world's biggest economy begin to reopen after weeks of stay-at-home orders that slowed the spread of the coronavirus but gutted jobs, Americans should not expect a quick return to growth, U.S. Federal Reserve officials said on Friday.
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Bankruptcy court approves Neiman Marcus' plea to access financing

Reuters Business News - Sat, 05/09/2020 - 01:37
U.S. luxury department store chain Neiman Marcus Group said on Friday it received court approval to access $675 million of its debtor-in-possession financing, which will allow continuity of the company's business during Chapter 11 bankruptcy proceedings and enable it to pay employees and vendors.
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Wall Street Week Ahead: U.S. data deluge to underscore divide between roaring market, plunging economy

Reuters Business News - Fri, 05/08/2020 - 22:23
A week packed with U.S. economic data is likely to provide investors with more evidence of the extent to which the coronavirus pandemic has hit growth, sharpening the debate on whether a rebound in stocks has been justified amid an unprecedented slowdown.
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U.S. small business rescue program ignored Congress: watchdog

Reuters Business News - Fri, 05/08/2020 - 21:21
The U.S. government's $660 billion program to rescue small businesses hit by the coronavirus pandemic thwarts the intention of Congress by making it hard for some borrowers to convert loans to grants and failing to prioritize the right businesses, a government watchdog said on Friday.
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Wall Street jumps as historic job losses fewer than feared

Reuters Business News - Fri, 05/08/2020 - 20:59
Major U.S. stock indexes jumped on Friday and logged solid gains for the week after data on historic job losses due to the coronavirus crisis showed they were slightly fewer than feared.
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California county says Tesla may not reopen vehicle factory, stifling Musk's plans

Reuters Business News - Fri, 05/08/2020 - 19:40
Tesla Inc "must not reopen" its vehicle factory in the San Francisco Bay area as local lockdown measures to curb the spread of the coronavirus remain in effect, the local county health department said on Friday.
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Wall Street weekahead: U.S. data deluge to underscore divide between roaring market, plunging economy

Reuters Business News - Fri, 05/08/2020 - 19:22
A week packed with U.S. economic data is likely to provide investors with more evidence of the extent to which the coronavirus pandemic has hit growth, sharpening the debate on whether a rebound in stocks has been justified amid an unprecedented slowdown.
Categories: Reuters

Trump 'torn' over U.S.-China trade deal as officials push to fulfill its terms

Reuters Business News - Fri, 05/08/2020 - 17:22
U.S. President Donald Trump said on Friday he was "very torn" about whether to end the so-called Phase 1 U.S.-China trade deal, just hours after top trade officials from both countries pledged to press ahead with implementing it despite coronavirus economic wreckage.
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Southwest to raise $815 million through sale and leaseback of 20 planes

Reuters Business News - Fri, 05/08/2020 - 17:19
Southwest Airlines Co will sell and lease back 20 planes for gross proceeds of about $815 million, the company said in a regulatory filing on Friday.
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Explainer: Fed funds futures market sees negative rates by next April

Reuters Business News - Fri, 05/08/2020 - 17:04
The fed funds futures market is pricing in negative U.S. interest rates next year, a scenario the Federal Reserve has said it wants to avoid as many doubt that it would be an effective tool to stimulate growth.
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Chipotle secures $600 million credit line amid coronavirus crisis

Reuters Business News - Fri, 05/08/2020 - 16:45
Chipotle Mexican Grill Inc has secured a new year-long $600 million revolving credit line, a regulatory filing showed https://bit.ly/2SOtm6L on Friday, as the restaurant chain looks to deal with the fallout from the COVID-19 pandemic.
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Stocks hit weekly highs as markets shrug off dismal U.S. jobs data

Reuters Business News - Fri, 05/08/2020 - 16:33
Equity markets rallied on Friday, hitting weekly highs, and oil prices gained as more governments around the world began gradually reopening their economies and Sino-American trade tensions eased.
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California country official says no 'green light' for Tesla's planned factory reopening

Reuters Business News - Fri, 05/08/2020 - 16:30
Tesla Inc has not been given permission to resume operations at its vehicle factory in the San Francisco Bay area as local lockdown measures to curb the spread of the coronavirus remain in effect, a county health official said on Friday.
Categories: Reuters

Coronavirus deals U.S. economy Great Depression-like job losses, high unemployment

Reuters Business News - Fri, 05/08/2020 - 16:08
The U.S. economy lost a staggering 20.5 million jobs in April, the steepest plunge in payrolls since the Great Depression, laying bare both the economic and human tragedy wrought by the novel coronavirus pandemic.
Categories: Reuters

'The government is failing us': Laid-off Americans struggle in coronavirus crisis

Reuters Business News - Fri, 05/08/2020 - 15:42
(This May 7 story changes monthly to weekly in paragraph 35)
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As pandemic rages, anything goes for bitcoin's third 'halving'

Reuters Business News - Fri, 05/08/2020 - 15:26
Bitcoin is about to undergo a scheduled technical adjustment as the number of new coins awarded the computer wizards who "mine" the cryptocurrency will be cut in half, but forecasting which way its price will move afterward is more complicated now.
Categories: Reuters

Great Depression-like U.S. job losses, unemployment rate expected in April

Reuters Business News - Fri, 05/08/2020 - 15:06
The U.S. economy likely lost a staggering 22 million jobs in April, in what would be the steepest plunge in payrolls since the Great Depression and the starkest sign yet of how the novel coronavirus pandemic is battering the world's biggest economy.
Categories: Reuters
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