Ford Motor Co’s U.S. sales chief said on Thursday the automaker believes some level of government stimulus will be needed for consumers once the coronavirus pandemic recedes and that the crisis will spur a permanent shift toward more online vehicle sales in America.
As if the health concerns from the coronavirus crisis weren’t enough, advocates are warning that senior citizens also are facing a web of other worries as the global pandemic continues to worsen. …read more […]
The dollar rose for a second straight day against a basket of currencies on Thursday as investors, worried about the prospect of a global recession continued to take shelter in the greenback.
British Airways is in talks with its union about a plan to suspend around 32,000 staff, a person familiar with the situation said, marking one of the industry’s most dramatic moves yet to survive the coronavirus pandemic.
Southwest Airlines Co said on Thursday it intends to apply for U.S. government aid to help it ride out the sharp drop in travel demand caused by the massive lockdowns because of the coronavirus pandemic.
Honda Motor Co said Thursday it will extend a shutdown of all U.S. and Canadian auto plant production through April 10 because of the ongoing coronavirus outbreak.
Stock markets fell 4.4% yesterday, marking the third session in a row of losses. The declines haven’t erased the gains from last week’s bullish trading, but they put a damper on investors’ enthusiasm. There’s a feeling of gloom; President Trump has said that the country and economy are in for a hard two weeks in the first half of April as the coronavirus epidemic peaks in the States, and he walked back his previously stated hope to see the country ‘get back to work’ by mid-month. No one is certain what the near-term holds, except that times are bad.It’s in …read more […]
(Bloomberg) — Luckin Coffee Inc. plunged as much as 81% on Thursday after the company said its board is investigating reports that senior executives and employees fabricated transactions.The company’s announcement that Chief Operating Officer Jian Liu and several employees reporting to him engaged in misconduct casts doubt on the foundations of the Chinese coffee chain’s meteoric rise and its emergence as a key competitor to Starbucks Corp.Liu and others have been suspended and investors shouldn’t rely on previous financial statements for the nine months ended Sept. 30, the company said. The transactions in question occurred last year and totaled about …read more […]
Paul Schatz, Heritage Capital President, joins Yahoo Finance’s Editor-in-Chief Andy Serwer, Alexis Christoforous, Brian Sozzi and Jared Blikre to discuss the latest market action. …read more […]
Saudi Arabia and Russia signalled on Thursday they were ready to cooperate to help stabilise the oil market after calls with U.S. President Donald Trump to discuss the slump in prices triggered by the end of a deal to curb output and a collapse in demand.
Russian Energy Minister Alexander Novak said on Thursday that Moscow may return to oil talks with Saudi Arabia.
JPMorgan Chase & Co Chief Executive Officer Jamie Dimon has returned to lead the largest U.S bank, after recovering from recent heart surgery, according to an internal memo to employees seen by Reuters.
(Bloomberg) — Walgreens Boots Alliance Inc. sank after executives said sales have started to decline at its drugstores as a result of the coronavirus pandemic, though the full impact on its business won’t be known for months.U.S. consumers had raced early last month to stock up on drugs, cleaning supplies and toilet paper as they prepared to stay at home to avoid getting or spreading Covid-19. Now, that rush appears to be ebbing.In the first three weeks of March, Walgreens’ comparable sales rose about 26%, Chief Financial Officer James Kehoe said on a call Thursday with Wall Street analysts, adding …read more […]
U.S. stock indexes fell at the open on Thursday after U.S. jobless claims blew past a record 6 million as more states enforced stay-at-home measures to combat the coronavirus pandemic.
Ford Motor Corp on Thursday posted a 12.5% fall in U.S. auto sales for the first quarter, as production halts and social distancing in the face of the coronavirus pandemic stalled demand across the auto industry.
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