The massive drop in U.S. private payrolls for April, reported on Wednesday, is “not a surprise” but employment could recover dramatically in the second half of the year if the coronavirus pandemic is controlled, St. Louis Federal Reserve president James Bullard said.
Uber Technologies Inc said on Wednesday it will cut about 3,700 full-time jobs and Chief Executive Officer Dara Khosrowshahi will waive his base salary for the remainder of the year.
The U.S. Department of Commerce is close to signing off on a new rule that allows U.S. companies to work with China’s Huawei Technologies on setting standards for next generation 5G networks, people familiar with the matter said.
(Bloomberg) — A Pacific island nation that’s been demanding a bigger share of its mineral wealth from global resources companies has forced Barrick Gold Corp. to do what a global pandemic could not — cut its 2020 production guidance.Less than a month after saying its output was secure, the world’s second-largest gold miner said it expects to produce 4.6 million to 5 million ounces of gold this year, lowering its range by 200,000 ounces, after running into conflict with the government of Papua New Guinea.In April, the Toronto-based miner said it would challenge a decision by the PNG government to …read more […]
United Airlines Holdings Inc said it plans to raise $2.25 billion through a bond offering as it grapples with a slump in air travel demand due to government-mandated lockdowns across the world.
Britain’s advertising watchdog has ruled Royal Dutch Shell’s ad campaign on petrol pumps promising customers they can “drive carbon neutral” is acceptable, following complaints.
Abercrombie & Fitch Co has begun reopening stores in parts of the world where lockdown restrictions have eased, the company said on Wednesday, as more retailers chart out paths to recovery after the COVID-19 pandemic upended businesses.
Chinese e-commerce giant Alibaba Group Holding Ltd has launched a new luxury platform targeting younger consumers that also aims to help high-end brands shed excess inventory built up during the global coronavirus lockdown. Chinese shoppers account for more than a third of global luxury goods spending and China was the first key market to be hit by the coronavirus pandemic, which forced brands to shut stores and led to a virtual halt in international travelling. …read more […]
U.S. private employers laid off a record 20.236 million workers in April as mandatory business closures in response to the novel coronavirus outbreak savaged the economy, setting up the overall labor market for historic job losses last month.
U.S. stocks futures pared gains after ADP’s report showed the private sector lost a record 20 million jobs in April.
U.S. private employers laid off a record 20.236 million workers in April as mandatory business closures in response to the novel coronavirus outbreak savaged the economy, setting up the overall labor market for historic job losses last month.
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