Federal Reserve Chairman Jerome Powell told the NBC’s Today that the central bank still has plenty of tools left to support a U.S. economy that may already be in recession. …read more […]
Micron Technology Inc (MU) sees solid third-quarter revenue as the need to work from home due to the coronavirus outbreak restrictions is boosting demand for data center and notebook services.The chipmaker forecasts third-quarter revenue to be in the range of $4.6 billion to $5.2 billion, and gross margin to be in the range of 31%, plus or minus 150 basis points. Operating expenses are expected to come in at about $825 million, plus or minus $25 million. EPS is forecast to be around $0.55 based on a share count of about 1.14 billion fully diluted shares.Wall Street analysts are upbeat …read more […]
Ford Motor Co said on Thursday it was aiming to restart production at some plants in North America as early as April 6.
Ford Motor Co and General Motors Co , the top two U.S. automakers, have more than two dozen new battery electric vehicles (EVs) in the pipeline, according to their executives and suppliers familiar with the companies’ plans.
General Motors Co and Ford Motor Co have widely touted their commitment to emission-free electric cars, but their production plans show a growing reliance on ever-larger gas-powered vehicles.
Drivers around the world want more roomy and powerful cars. Rules made under the administration of President Barack Obama make it easier for U.S. automakers to give customers what they want and to keep expanding the size of their vehicles.
General Motors Co and Ford Motor Co have widely touted their commitment to emission-free electric cars, but their production plans show a growing reliance on ever-larger gas-powered vehicles. The two biggest U.S. automakers will make more than 5 million SUVs and pickup trucks in 2026, but only about 320,000 electric vehicles, according to detailed production plans for North America seen by Reuters. …read more […]
Due to restrictions on large gatherings, the general meeting of shareholders to approve certain matters for the deal to go through has been postponed to June 30, Mylan said. There were no other changes to previously announced terms or plans pertaining to the deal, previously expected to close in mid-2020, the companies said. The merger, which will bring blockbuster treatments Viagra and Lipitor from Pfizer under one umbrella with Mylan’s EpiPen, is part of years-long effort by Pfizer to split into three parts – innovative medicines, lower margin off-patent drugs facing generic competition and consumer healthcare. …read more […]
The U.S. Senate’s unanimous passage of a $2 trillion coronavirus relief bill sent the unprecedented economic legislation to the House of Representatives, whose Democratic leaders hope to pass it on Friday.
Top news and what to watch in the markets on Thursday, March 26, 2020. …read more […]
White-collar crime prosecutors and defense attorneys are likely to be busy following a massive economic stimulus package from the U.S. Congress aimed at mitigating the fallout from the coronavirus, according to a new academic study of insider trading.
Norway’s $930 billion sovereign wealth fund, the world’s largest, has lost 1.33 trillion Norwegian crowns ($124 billion) so far this year as stock markets plunged amid the coronavirus outbreak, it said on Thursday.
U.S. lender Capital One Financial Corp got a waiver from the Commodity Futures Trading Commission (CFTC) after plunging oil prices increased the bank’s derivatives exposure above a key regulatory threshold, according to two sources with knowledge of the matter.
Deutsche Bank is laying the groundwork for taking advantage of a government-run short-time work scheme for some of its employees in Germany as it deals with fallout of the coronavirus, a spokeswoman said on Thursday.
SINGAPORE/NEW DELHI/SEOUL (Reuters) – Oil refiners from Texas to Thailand are bracing for deeper output cuts, bruised by an unprecedented demand shock as more countries lock down and restrict travel to contain the spread of the coronavirus. In Asia, home to over a third of the global refining capacity, India’s top refiner has slashed output by up to 25%-30% while operators in Japan, South Korea and Thailand – already running at reduced rates – are looking at more cuts even as they shut plants for maintenance. China, which restarted its economy after weeks of lockdown, is an outlier …read more […]
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