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Match quarterly revenue hit by slowing Tinder growth

Reuters Business News - Tue, 05/05/2020 - 15:55
Match Group Inc reported quarterly revenue that fell short of Wall Street estimates on Tuesday, hit by slowing growth in its popular dating app "Tinder" as fewer people signed up and paid for its premium features amid the COVID-19 pandemic.
Categories: Reuters

Oil surge lifts global stocks out of three-day losing streak

Reuters Business News - Tue, 05/05/2020 - 15:39
A gauge of global stock markets rose on Tuesday, snapping a three-day losing streak, while oil prices soared as investors shrugged off grim economic data on hopes the easing of coronavirus lockdowns will jump start economies and revive fuel demand.
Categories: Reuters

Disney takes $1.4 billion hit from coronavirus as parks, theaters close

Reuters Business News - Tue, 05/05/2020 - 15:38
Walt Disney Co missed Wall Street's lowered earnings forecasts on Tuesday and estimated global coronavirus lockdowns cut profits by $1.4 billion, mostly from its shuttered theme parks.
Categories: Reuters

Beyond Meat suspends 2020 forecast on COVID-19 concerns; posts sales beat

Reuters Business News - Tue, 05/05/2020 - 15:21
Beyond Meat Inc posted better-than-expected quarterly sales on Tuesday, but suspended its 2020 forecast as the COVID-19 pandemic hit demand for the company's plant-based meat products at restaurants.
Categories: Reuters

Airbnb to lay off 1,900 employees: sources

Reuters Business News - Tue, 05/05/2020 - 14:33
Home rental startup Airbnb Inc is planning to lay off 1,900 employees due to the impact of the coronavirus pandemic, two sources familiar with the matter told Reuters.
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BMW cuts margin outlook for cars division, citing coronavirus woes

Reuters Business News - Tue, 05/05/2020 - 14:12
BMW on Tuesday lowered the outlook for the profitability of its automotive and motorcycles divisions, citing worse-than-expected demand which has been hit by measures to contain the coronavirus.
Categories: Reuters

Lyft offers new cheaper rides with more waiting time

Reuters Business News - Tue, 05/05/2020 - 13:40
Lyft Inc said on Tuesday it would expand its program that provides cheaper rides to customers willing to wait longer for their pick-ups, at a time when curbs against the coronavirus outbreak have brought its affordable shared services to a halt.
Categories: Reuters

Wall Street jumps as healthcare shares rise, lockdowns ease

Reuters Business News - Tue, 05/05/2020 - 13:32
Wall Street's main indexes rallied on Tuesday as healthcare stocks jumped, oil prices surged and a number of countries and U.S. states eased coronavirus-induced restrictions in an attempt to revive their economies.
Categories: Reuters

Delta caps aircraft seating capacity to ensure safety amid COVID-19

Reuters Business News - Tue, 05/05/2020 - 12:41
Delta Air Lines said on Tuesday it was putting a limit to seating capacity in its airplanes, as the U.S. carrier looks to provide a safe flying experience to customers amid the coronavirus crisis.
Categories: Reuters

Wall Street jumps as energy shares rise, lockdowns ease

Reuters Business News - Tue, 05/05/2020 - 12:23
Wall Street's main indexes jumped on Tuesday as a recovery in oil prices lifted battered energy stocks and a slew of countries eased coronavirus-induced restrictions in an attempt to revive their economies.
Categories: Reuters

Book a table for fast food? Burger King trials post-lockdown app in Italy

Reuters Business News - Tue, 05/05/2020 - 11:47
Burger King is trialling an app for ordering food and booking a table at its outlets in Italy, as it seeks to persuade locals it is safe to eat out again after more than two months of coronavirus lockdown.
Categories: Reuters

Walgreens to restore standard operating hours at most U.S. stores

Reuters Business News - Tue, 05/05/2020 - 11:42
Drugstore chain Walgreens Boots Alliance Inc said it would resume standard operating hours at most of its stores across the United States, beginning Tuesday.
Categories: Reuters

France's Lagardere sees off activist Amber in shareholder showdown

Reuters Business News - Tue, 05/05/2020 - 11:32
French publishing and media group Lagardere on Tuesday fended off Amber Capital's most daring attempt yet to shake up governance at the company, after shareholders rejected the activist investor's call to replace the supervisory board.
Categories: Reuters

Fed's Evans says 'reasonable' to expect U.S. growth in second half of 2020

Reuters Business News - Tue, 05/05/2020 - 11:29
Chicago Federal Reserve President Charles Evans said on Tuesday it's "reasonable" to expect the U.S. economy to return to growth in the second half of the year, but that such an outcome is only slightly more likely than other, more pessimistic views.
Categories: Reuters

U.S. trade deficit widens, services sector contracts amid coronavirus

Reuters Business News - Tue, 05/05/2020 - 11:26
The U.S. trade deficit increased by the most in more than a year in March as a record drop in exports offset a shrinking import bill, suggesting the novel coronavirus outbreak was upending the global flow of goods and services.
Categories: Reuters

Lufthansa to pay no dividend for 2019 as airline seeks bailout

Reuters Business News - Tue, 05/05/2020 - 11:13
Lufthansa shareholders on Tuesday agreed to not distribute 298 million euros ($323 million) in retained profits as a dividend for 2019, as the airline enters the final stretch of negotiations for a 10 billion euro bailout.
Categories: Reuters

Wall Street jumps as battered energy shares rise, lockdowns ease

Reuters Business News - Tue, 05/05/2020 - 10:47
Wall Street's main indexes jumped on Tuesday as a recovery in oil prices lifted battered energy stocks and a slew of countries eased coronavirus-induced restrictions in an attempt to revive their economies.
Categories: Reuters

Fed's Evans says 'reasonable' to expect U.S. to return to growth after June

Reuters Business News - Tue, 05/05/2020 - 10:44
Chicago Federal Reserve Bank President Charles Evans said on Tuesday that it's "reasonable" to expect a return to economic growth in the second half of the year, but that such an outcome is only slightly more likely than other, more pessimistic views.
Categories: Reuters

Wendy's menu runs short as virus hits U.S. beef supplies

Reuters Business News - Tue, 05/05/2020 - 10:32
Wendy's Co said on Tuesday its restaurants may face a shortage of many menu items, including hamburgers, as beef processors in the United States struggle to keep their plants open amid the COVID-19 pandemic.
Categories: Reuters

U.S. household debt reached $14.3 trillion, credit standards tightened in first quarter

Reuters Business News - Tue, 05/05/2020 - 10:30
American households added $155 billion of debt in the first quarter and overall debt levels rose to a new record at $14.30 trillion, the Federal Reserve Bank of New York said on Tuesday in a report that provides a snapshot of where household balance sheets stood before the coronavirus pandemic brought much of the economy to a halt.
Categories: Reuters
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