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United Airlines looks to raise $1 billion with new stock offering, shares slip
United Airlines Holdings Inc on Tuesday announced a public offering of 39.25 million shares aimed at raising more than $1 billion to help shore up capital in the midst of the coronavirus pandemic.
Categories: Reuters
U.S. Senate approves nearly $500 billion more for coronavirus bailout
The U.S. Senate on Tuesday unanimously approved $484 billion in additional coronavirus relief for the U.S. economy and hospitals treating people sickened by the pandemic, sending the measure to the House of Representatives for final passage later this week.
Categories: Reuters
Analyst View: Oil price crash, what next?
A historic rout in oil markets sent U.S. crude prices plummeting to as much as minus $40 a barrel on Monday as traders rushed to get rid of unwanted stocks with storage capacity already overflowing amid a coronavirus-induced demand collapse.
Categories: Reuters
GM folds Maven car-sharing unit, citing coronavirus
General Motors Co said on Tuesday it is shutting down its Maven car-sharing unit, after suspending operations because of the novel coronavirus.
Categories: Reuters
Uber launches website to help drivers navigate U.S. unemployment system
Uber Technologies Inc on Tuesday launched a website to help its ride-hail and delivery drivers navigate the intricate U.S. unemployment system, with many gig workers still waiting to receive jobless pay provided under a U.S. coronavirus response bill.
Categories: Reuters
Boeing names CFO to manage new group overseeing key operations
Boeing said on Tuesday it was naming chief financial officer Greg Smith to oversee a newly formed group that will consolidate several key operational areas.
Categories: Reuters
Oil crash pummels stocks and bond yields; dollar rises
Stock markets around the world fell on Tuesday, as a collapse in oil prices brought on by oversupply and a shortage of storage further exposed the depth of economic damage from the coronavirus outbreak and sent investors looking for shelter.
Categories: Reuters
Texas Instruments forecasts weak earnings to reflect coronavirus threat
Texas Instruments Inc on Tuesday forecast current-quarter revenue and profit largely below Wall Street estimates after posting first-quarter results above expectations, as the chip industry braces for a big hit from the coronavirus outbreak.
Categories: Reuters
United Airlines announces stock offering, shares slip
United Airlines Holdings Inc on Tuesday announced a stock offering of 39.25 million shares, sending its shares down 3% in extended trading.
Categories: Reuters
Explainer: How does Texas have the power to curb the state's oil output?
Texas oil and gas regulators in coming days are poised to decide whether to order larger producers in the state to shut in 20% of their output, wading into global oil politics as the coronavirus crisis slashes demand for oil .
Categories: Reuters
Netflix adds 15.8 million customers during quarantine, warns boost is temporary
Netflix Inc on Tuesday reported a surge in new sign-ups as audiences stayed in their homes to help fight the novel coronavirus and binged on series such as "Tiger King," but the company predicted a weaker second half of the year if quarantine orders are lifted.
Categories: Reuters
LendingClub to lay off about a third of employees due to coronavirus
Online lender LendingClub Corp said on Tuesday it would lay off 460 employees, including President Steven Allocca, as part of a restructuring plan to slash costs amid the economic fallout of the COVID-19 pandemic.
Categories: Reuters
Chipotle March same-store sales drop even as delivery orders surge
Chipotle Mexican Grill Inc on Tuesday reported a 16% drop in March same-store sales while online orders surged, as it was forced to keep stores closed because of the coronavirus pandemic.
Categories: Reuters
Amazon staff take off work to raise safety concerns in pandemic: activists
A U.S. labor and activist coalition said employees of Amazon.com Inc would take off work starting on Tuesday to draw attention to what it says are unsafe conditions at warehouses during the coronavirus pandemic.
Categories: Reuters
Small business loan program discriminated against women, minorities: lawsuit
The $349 billion small business loan program passed last month as part of the federal coronavirus relief package discriminated against woman- and minority-owned businesses by prioritizing business with employees over those that do not, according to a lawsuit filed by two Maryland business owners.
Categories: Reuters
Chipotle reports 16% drop in March same-store sales
Chipotle Mexican Grill Inc on Tuesday reported a 16% fall in March same-store sales, as the coronavirus pandemic forced the company to keep its restaurants closed to diners.
Categories: Reuters
Snap shares rise 19% as coronavirus spurs use, revenue growth beats Street
Snap Inc on Tuesday beat Wall Street estimates for quarterly revenue and user growth for its Snapchat app, as more people seek entertainment while they stay at home during the global coronavirus pandemic.
Categories: Reuters
Netflix adds more subscribers in first quarter, shares rise
Netflix Inc on Tuesday reported more paid subscribers than expected in the first quarter, as global lockdowns to curb the spread of the novel coronavirus forced people to stay at home and watch shows online including its wildly popular "Tiger King."
Categories: Reuters
Exclusive: ValueAct eyes Nintendo with stake of over $1.1 billion, letter shows
Activist investor ValueAct Capital Partners LP has built a stake of over $1.1 billion in Nintendo , according to a letter seen by Reuters, a bet that digital software distribution and the development of new entertainment products will fuel growth at the Japanese consumer electronics company.
Categories: Reuters
Texas Instruments forecast current-quarter sales below estimates
Texas Instruments Inc on Tuesday forecast second-quarter revenue below Wall Street estimates, as the chip industry braces for a big hit from the coronavirus outbreak.
Categories: Reuters
