Boeing Co raised $25 billion in a bond offering on Thursday, a blowout result for the planemaker, which it said helped the company avoid taking government aid during the coronavirus-induced travel downturn.
Boeing Co has no plans to seek additional funding through the capital markets or from the U.S. government at this time, the planemaker said in a statement on Thursday.
(Bloomberg) — Gold headed for its largest weekly decline in seven weeks as European nations, including the U.K., offered cautious signals they’ve passed through the peak of the coronavirus outbreak and U.S. cases rose at the slowest pace this month.U.K. Prime Minister Boris Johnson said the country was through the worst of the virus and pledged to deliver plans to lift the lockdown, while Italy, France and Germany all also outlined proposals to gradually ease restrictions. The European Central Bank stepped up its response to the coronavirus crisis by cutting funding costs for banks, but refrained from boosting its bond-buying …read more […]
(Bloomberg) — Japanese shares and U.S. futures dropped after sobering comments from Amazon and Apple about the impact of the coronavirus. The dollar pared overnight losses and Treasury yields ticked lower.Asian trading was limited Friday, with much of the region out on holidays. After U.S. markets closed, Amazon.com warned of a possible second-quarter loss, while Apple omitted an earnings forecast for the first time in more than a decade. Earlier, the S&P 500 Index fell from a seven-week high in wake of a larger-than-expected jump in U.S. jobless claims. Strong results from Microsoft Corp., Facebook Inc. and Tesla Inc. had …read more […]
Three of the largest four U.S. airlines said Thursday they will require passengers to wear facial coverings on U.S. flights, joining JetBlue Airways Corp in taking the step to address the spread of the coronavirus and convince reluctant passengers to resume flying.
Boeing Co raised $25 billion in a bond offering on Thursday, a blowout result for the planemaker, which is shoring up its finances during the coronavirus-induced travel downturn.
Key manufacturing data and ExxonMobil and Chevron earnings take centerstage Friday to close out a busy week. …read more […]
(Bloomberg) — Visa Inc. Chief Executive Officer Al Kelly warned the firm will be challenged “for a number of quarters” even as declines in spending on its network began to moderate in April.As the U.S. government began sending out stimulus payments to millions of consumers this month, Visa saw an increase in spending on home improvement, automotive and some areas of health care. Still, spending on the firm’s cards in the U.S. has dropped 19% in April compared with the same period a year earlier, according to Chief Financial Officer Vasant Prabhu.To offset the slowdown in spending on its cards, …read more […]
U.S. President Donald Trump said on Thursday his hard-fought trade deal with China was now of secondary importance to the coronavirus pandemic and he threatened new tariffs on Beijing, as his administration crafted retaliatory measures over the outbreak.
Amgen Inc on Thursday reported better-than-expected first-quarter results and said it plans to study psoriasis drug Otezla as a potential treatment for COVID-19, the respiratory disease caused by the new coronavirus.
(Bloomberg) — One of the biggest U.S. steelmakers is singaling how the coronavirus pandemic is set to inflict pain on blue-collar America.U.S. Steel Corp. expects to lay off about 2,700 employees as the virus forces the company to idle most of its blast furnaces. Even before lockdowns hit the economy, producers were facing slowing demand in the manufacturing sector.Now, U.S. Steel’s moves further illustrate how the virus is turning President Donald Trump’s much-touted “blue-collar boom” into a bust as he heads into November’s election. Economists see an historic economic contraction in the offing and millions of jobs at risk in …read more […]
Amazon.com Inc on Thursday said it could post its first quarterly loss in five years because it is spending at least $4 billion in response to the coronavirus pandemic, including plans to test its workers for COVID-19, providing staff with protective gear and raising hourly wages.
(Bloomberg) — Oil headed for its first weekly gain in a month following early signs that demand might be bottoming out as global production cuts deepen.Futures in New York slipped 0.7% in Asia, after jumping as much as 29% in volatile trading Thursday. The OPEC+ bloc’s output cut of 10 million barrels per day officially starts on Friday, while other producers are also reining back. Royal Dutch Shell Plc said that upstream oil and gas production could fall by as much as a third, while ConocoPhillips said it will cut more than 400,000 barrels a day in June. Norway said …read more […]
Copyright 1997-2019 Wall Street Reporter / Octagon Media Corp.
