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Asia stocks poised to rise as upbeat earnings trump jobs gloom

Reuters Business News - Thu, 05/07/2020 - 20:02
Asian stocks were set to track Wall Street gains on Friday, after upbeat corporate earnings took the focus off upcoming data that is expected show the worst U.S. unemployment rate in more than 70 years.
Categories: Reuters

Government aid for Brazil's airlines shrinks, while Panama's Copa shrugs off bailout

Reuters Business News - Thu, 05/07/2020 - 19:42
Stress has been mounting for Latin American airlines as carriers brace for a slow recovery from the coronavirus pandemic, but Brazil's government on Thursday reduced the loan aid available for carriers, while Panama's Copa Airlines said it did not need a bailout.
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Uber sees rides recovering from coronavirus lows, banks on food-delivery momentum

Reuters Business News - Thu, 05/07/2020 - 19:12
Uber Technologies Inc's ride service bookings slowly recovered in recent weeks as the company expects a coronavirus-related slowdown will delay the goal of becoming profitable by a matter of quarters, not years, Chief Executive Dara Khosrowshahi said on Thursday.
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Luxury retailer Neiman Marcus files for bankruptcy amid COVID-19 pandemic

Reuters Business News - Thu, 05/07/2020 - 19:08
Neiman Marcus Group filed for bankruptcy protection on Thursday, marking one of the highest-profile collapses yet among retailers forced to temporarily close stores in response to the COVID-19 pandemic.
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Wall Street gets PayPal lift as Nasdaq wipes out 2020 declines

Reuters Business News - Thu, 05/07/2020 - 18:01
Wall Street's indexes climbed on Thursday, with the Nasdaq erasing losses for 2020, following a clutch of upbeat earnings reports led by PayPal as investors looked past more weak jobs data caused by the coronavirus-induced economic downturn.
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Uber sees ride business up from coronavirus lows in some U.S. markets

Reuters Business News - Thu, 05/07/2020 - 18:00
Uber Technologies Inc's ride service bookings rose last week and the company expects a coronavirus-related slowdown will delay the goal of becoming profitable by a matter of quarters, not years, Chief Executive Dara Khosrowshahi said on Thursday.
Categories: Reuters

Ford plans to restart North America production from May 18

Reuters Business News - Thu, 05/07/2020 - 17:21
U.S. automaker Ford Motor Co said on Thursday it is planning to restart production and operations in North America in a phased manner, starting May 18.
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Macy's delays first-quarter results to July 1, citing COVID-19 disruption

Reuters Business News - Thu, 05/07/2020 - 17:10
Department store chain Macy's Inc on Thursday delayed its first-quarter earnings report to July 1, citing significant business disruption due to the COVID-19 pandemic, which has also led to delay in financial statement preparation.
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World stocks climb on China trade relief, while U.S. jobs data dents dollar

Reuters Business News - Thu, 05/07/2020 - 16:41
World shares rose on Thursday after China's exports came in far stronger than expected, suggesting an economic recovery was under way, but the dollar fell from two-week highs as U.S. data showed millions more Americans joined the ranks of the unemployed.
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Tesla's Musk delays release of Roadster sports car, repeats coronavirus lockdown criticism

Reuters Business News - Thu, 05/07/2020 - 16:36
Tesla Inc Chief Executive Elon Musk said in a podcast interview released on Thursday that the company's planned Roadster sports car would take a backseat to the development of other vehicle models.
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Uber sees encouraging signs in reopening markets, posts $2.9 billion loss

Reuters Business News - Thu, 05/07/2020 - 16:31
Uber Technologies Inc said on Thursday it saw encouraging signs in markets hit by the coronavirus epidemic as it posted a 14% rise in revenue growth, supported by its Uber Eats food-delivery business.
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Wall Street gains with PayPal boost despite weak jobs data

Reuters Business News - Thu, 05/07/2020 - 16:05
Wall Street's indexes climbed on Thursday following a clutch of upbeat earnings reports led by PayPal as investors looked past more weak jobs data caused by the coronavirus-induced economic downturn.
Categories: Reuters

Stay-at-home stocks Amazon, Microsoft lift Nasdaq into gain for 2020

Reuters Business News - Thu, 05/07/2020 - 15:55
The Nasdaq was on track to end Thursday in positive territory for 2020 after winning back the vast majority of steep losses caused in recent months by the coronavirus pandemic.
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Free beer! German brewery gives away beverages it can't sell

Reuters Business News - Thu, 05/07/2020 - 15:46
Unable to deliver to hotels and restaurants closed due to coronavirus restrictions, a German brewery on Thursday gave away some 2,600 litres (690 gallons) of beer.
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Stocks climb, shaking off U.S. jobs data, thanks to China trade relief

Reuters Business News - Thu, 05/07/2020 - 15:34
World shares rose on Thursday after Chinese exports proved far stronger than expected, suggesting a recovery was under way, but the dollar fell from two-week highs as another report showed millions of more Americans were unemployed.
Categories: Reuters

Michigan governor says manufacturing can reopen in state on May 11

Reuters Business News - Thu, 05/07/2020 - 15:03
Michigan Governor Gretchen Whitmer on Thursday said the state's factories can reopen on May 11, removing one of the last major obstacles to North American automakers bringing thousands of laid-off employees back to work amid the coronavirus pandemic.
Categories: Reuters

As U.S. states start to reopen, Fed official sees little sign of economic resurgence

Reuters Business News - Thu, 05/07/2020 - 14:54
Though states have begun to reopen their economies, it is not clear consumers are ready to venture back to the marketplace, Atlanta Federal Reserve Bank President Raphael Bostic said on Thursday, citing conversations with business officials in his region and his staff's study of cellphone tracking data.
Categories: Reuters

Wall Street gets PayPal boost as Nasdaq erases 2020 declines

Reuters Business News - Thu, 05/07/2020 - 14:47
Wall Street's indexes jumped on Thursday, with the Nasdaq turning positive for the year, following a clutch of upbeat earnings reports led by PayPal as investors looked past more weak jobs data caused by the coronavirus-induced economic downturn.
Categories: Reuters

As U.S. states start to reopen, Fed official sees little sign of resurgence

Reuters Business News - Thu, 05/07/2020 - 14:33
Though states have begun to reopen their economies, it is not clear consumers are ready to venture back to the marketplace, Atlanta Federal Reserve Bank President Raphael Bostic said on Thursday, citing conversations with business officials in his region and his staff's study of cellphone tracking data.
Categories: Reuters

Nasdaq tracks yearly gains on PayPal boost

Reuters Business News - Thu, 05/07/2020 - 14:13
A jump for PayPal on Thursday put the Nasdaq on course to turn positive on the year, with Wall Street also boosted by hopes of a faster economic recovery following a surprise rise in Chinese exports.
Categories: Reuters
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