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Broadcom's revenue forecast disappoints on weakness in chip business
Broadcom Inc on Thursday forecast current-quarter revenue, the midpoint of which was slightly below analysts' estimates as its chip business took a hit from supply chain disruptions caused by the novel coronavirus.
Categories: Reuters
Luxury carmaker Bentley to cut about 1,000 jobs in UK: BBC
Luxury carmaker Bentley is cutting about 1,000 jobs in the United Kingdom amid the ongoing coronavirus outbreak, the BBC reported on Thursday.
Categories: Reuters
Slack withdraws billings forecast on COVID-19 uncertainty
Slack Technologies Inc on Thursday withdrew its forecast for 2021 billings citing uncertainty driven by the COVID-19 pandemic, sending shares down 16% after market hours.
Categories: Reuters
Gap reports huge first-quarter loss on coronavirus-led store closures
Gap Inc on Thursday reported a whopping first-quarter loss of $932 million as the apparel retailer wrote down the value of some assets due to coronavirus-driven store closures, sending its shares down about 5% after the bell.
Categories: Reuters
American Airlines soars 41% as plan to add July flights sparks relief rally
American Airlines Group Inc shares jumped more than 40% on Thursday after announcing a big boost to U.S. flights next month following dramatic cuts caused by the coronavirus pandemic, as well as some leadership changes to cut costs.
Categories: Reuters
Exclusive: Pompeo to urge stock exchanges globally to tighten rules for Chinese companies
U.S. Secretary of State Mike Pompeo plans to warn American investors against 'fraudulent' accounting practices of China-based companies and suggest the Nasdaq's recent decision to tighten listing rules for such players should be a model for all other exchanges around the world.
Categories: Reuters
Gap's quarterly sales plunge 43% on coronavirus hit
Gap Inc on Thursday reported a 43% fall in first-quarter sales, as the apparel retailer was forced to close its stores due to the COVID-19 pandemic.
Categories: Reuters
Slack quarterly sales beat expectations as new users grow
Slack Technologies Inc beat first-quarter revenue estimates on Thursday on strong demand for its workplace messaging app, as companies rapidly adapt to remote work amid social distancing protocols to curb the coronavirus outbreak.
Categories: Reuters
U.S. to revise Chinese passenger airline ban after Beijing move
The U.S. Transportation Department plans to issue a revised order in the coming days that is likely to allow some Chinese passenger airline flights to continue, government and airline officials said.
Categories: Reuters
ECB sends euro higher, stocks pause after week-long rally
The euro jumped to a 12-week high against the dollar on Thursday after another shot of European Central Bank stimulus to help economies slammed by the coronavirus pandemic, but world equity markets pulled in the reins after a strong seven-day run.
Categories: Reuters
American Airlines announces 14 officer departures, memos show
American Airlines Group Inc told employees on Thursday that 14 officers will be as leaving the company as part of leadership changes in which another five officer positions will not be filled, according to memos seen by Reuters.
Categories: Reuters
British Airways boss says burning through cash, urges unions to engage
The boss of British Airways said its parent company IAG was burning through 178 million pounds ($223 million) a week and could not guarantee its survival, prompting him to urge unions to engage over 12,000 job cuts.
Categories: Reuters
U.S. senators move to tighten sanctions on delayed Russia-to-Germany gas pipeline
U.S. senators announced a bill on Thursday expanding sanctions on Russia's Nord Stream 2 natural gas pipeline and targeting the project Washington says will boost Moscow's economic and political influence in Germany and other European countries.
Categories: Reuters
U.S. to revise Chinese passenger airline ban after Beijing move: sources
The U.S. Transportation Department plans to issue a revised order in the coming days that is likely to allow some Chinese passenger airline flights to continue, government and airline officials said.
Categories: Reuters
Oil prices steady as market awaits clarity on OPEC+ output cuts
Oil prices were little changed in choppy trade on Thursday as investors awaited a decision from top crude producers on whether to extend record output cuts.
Categories: Reuters
'Stay at home stock' Slack Technologies dips ahead of report
Shares of Slack Technologies dipped 3% on Thursday ahead of the workplace communication platform's quarterly report, pausing a three-month rally fueled by millions of people working from home due to the coronavirus.
Categories: Reuters
U.S. court blocks sales of Bayer weed killer
Bayer AG has been blocked from selling an agricultural weed killer in the United States, the latest setback for a business already fighting an expensive legal battle over another product.
Categories: Reuters
Trump to give agencies power to fast-track big infrastructure projects, sources say
U.S. President Donald Trump on Thursday is expected to sign an executive order that would give federal agencies emergency powers to fast-track major energy and other infrastructure projects by overriding environmental permitting requirements, two sources familiar with the proposal said.
Categories: Reuters
Wall Street ends four-day rally in advance of May jobs report
Wall Street retreated on Thursday as investors hit the pause button in advance of Friday's jobs report, capping a four-day rally driven by rising economic sentiment.
Categories: Reuters
Shell plastics plant Trump touted faces oversupply risks: energy institute report
A massive Pennsylvania plastics project that President Donald Trump touted during a visit last year faces risks of oversupply and a low price outlook for the materials, a report by an institute that examines energy issues said on Thursday.
Categories: Reuters