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Euro zone economy shrinks at record rate, worse to come BRUSSELS (Reuters) - The eurozone economy contracted at a record rate in the first three months of the year and inflation slowed sharply as much economic activity in March came to a halt because of the COVID-19 pandemic, data showed on Thursday.
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'W-shaped' recovery may be too optimistic, Fed's Powell suggests WASHINGTON (Reuters) - Federal Reserve Chair Jerome Powell has sketched out an altogether bumpier ride for the U.S. economy than many are predicting - one that sees business activity stop and start for months to come, until an effective treatment or ...
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Twitter Q1: sales up 3% to $808M as it swigs to a loss on COVID-19, mDAUS hit record 166M Despite traffic for many online properties being at an all-time high, advertising has fallen off a cliff because of the downturn in consumer activity outside the home and the wider economic pressures resulting from the COVID-19 pandemic. And today, Twitter ...
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'PROTECT AMAZON WORKERS': Activists painted a giant mural outside Jeff Bezos' $23 million Washington, DC, home Activists protesting Amazon's treatment of warehouse workers during the coronavirus pandemic painted a giant mural outside CEO Jeff Bezos' home in Washington, DC. "We're calling him and Amazon out for leaving their workers out here without the proper ...
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China's Luckin Coffee Founder Is $1 Billion Poorer After Company Announces Fraud Investigation After a stratospheric rise, China's Luckin Coffee has hit the skids. The Nasdaq-listed coffee chain, which operates only in China, announced on April 2 that an internal audit had turned up allegations of fabricated sales figures. Its founder and CEO, former auto ...
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Nokia CEO says 5G rollouts in Europe could be delayed by coronavirus Rajeev Suri, the president and CEO of Nokia, told CNBC that there could be 5G delays in certain European countries as a result of the coronavirus. The network equipment provider said coronavirus contributed to first-quarter sales being dented by 200 million ...
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Coronavirus is driving down global carbon dioxide emissions to levels last seen 10 years ago, agency says The wide-scale restriction of movement resulting from the coronavirus pandemic is driving down global carbon dioxide emissions to levels last seen 10 years ago, according to a new report by the International Energy Agency. The world's CO2 emissions will ...
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POLL-Malaysia's c.bank seen slashing key rate by 50 bps on pandemic worries Malaysia's central bank is expected to make the biggest cut to its benchmark interest rate since 2009 next week, a Reuters poll showed, to prop up an economy struggling with the effects of the coronavirus pandemic. By Joseph Sipalan. KUALA LUMPUR, April ...
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Tsingshan and Eramet's Indonesia Weda Bay nickel project starts production SINGAPORE (Reuters) - Production began on Thursday at Indonesia Weda Bay Industrial Park (IWIP), a nickel project by France's Eramet and China's Tsingshan Holding Group. "Weda Bay Nickel Project is in the early stage of production, with total annual ...
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McDonald's says 1Q sales drop as 25% of stores are closed Most McDonald's restaurants in the U.S. and China are now open for drive-thru and delivery, but global lockdown orders still took a bite out of the company's first quarter sales. McDonald's said Thursday its sales fell 6% to $4.71 billion in the January-March ...
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Carlyle beats first-quarter profit estimates as distributable earnings surge (Reuters) - Carlyle Group Inc (CG.O) said on Thursday that its first-quarter distributable earnings rose 73% year-on-year, beating Wall Street's expectations, as asset sales in its private equity and credit investment divisions generated strong performance fees ...
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Apple, Amazon and Gilead take anchor leg of earnings race with a big lead Earnings Watch: Busiest earnings day of the season includes reports from more than 10% of the S&P 500 and Dow Jones indexes. In Big Tech's earnings race, Google and Microsoft are handing off to Apple and Amazon with a healthy lead. Getty Images.
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Microsoft Shares Jump as Xbox, Cloud Sales Boost Q2 Profits Amid Stay-at-Home Coronavirus Lockdowns Microsoft Corp (MSFT) - Get Report shares are set to open at a two-month high Thursday after the world's most valuable company saw a boost in sales from stay-at-home orders amid the coronavirus pandemic that helped it post Street-beating quarterly profits.
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Exclusive: Chesapeake Energy Preparing Bankruptcy Filing (Reuters) - Chesapeake Energy Corp, the oil and gas exploration and production company that was at the forefront of the past decade's U.S. shale boom, is preparing a potential bankruptcy filing as it grapples with an unprecedented rout in energy prices, ...
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Shareholder Support for Credit Suisse Chairman Drops, Successor Search 'Well Under Way' ZURICH — Shareholder support for Credit Suisse Chairman Urs Rohner dropped to its lowest level ever on Thursday, as Rohner told the Swiss bank's annual meeting that its search for his successor was well under way. Shareholders voted to re-elect ...
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Coronavirus: Sainsbury's boss warns queues set to stay in place Sainsbury's says that customers are likely to see disruption to their shopping until September amid the coronavirus pandemic. Its boss Mike Coupe told the BBC that socially-distanced queues were likely to remain "for the foreseeable future". In its full-year ...
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Lloyds Books 1.4 Billion-Pound Charge and Scraps Targets Lloyds Banking Group Plc has begun to count the cost of the coronavirus pandemic to the British economy -- and warned that the turmoil had made its old targets obsolete. Britain's biggest mortgage lender booked a provision of 1.4 billion pounds ($1.75 ...
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How Will Buffett Steer Through the Airline Crisis? Thinking back to the last financial crisis, Warren Buffett played a big role in calming chaotic markets. While sensationalist analysts were calling for the end of public equities as we know them, Buffett's company, Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK ...
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As Facebook's profit doubles, CEO Mark Zuckerberg sounds off on reopening the economy too soon Facebook reported an 18 percent increase in first-quarter revenue Wednesday, but the social media giant said it wasn't making financial predictions because of the uncertainty caused by the coronavirus and what is expected to be the greatest economic ...
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3 Big Takeaways From NXP Semiconductors' Earnings Report Dutch-Texan microchip maker NXP Semiconductors (NASDAQ: NXPI) reported first-quarter results late Monday evening. I would like to highlight three key takeaways from this coronavirus-marred report, but let's start with a quick look at the company's plain ...
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Banks agree to extend loan repayment breaks for another 3 months Banks and other lenders have today confirmed that a further three-month extension to the current payment break will be made available to customers that continue to be directly impacted by the fallout from Covid-19. Banking & Payments Federation Ireland ...
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Donohoe: Rebuilding economy after COVID-19 will "involve choices" Finance Minister Paschal Donohoe has said rebuilding Ireland's economy after the COVID-19 pandemic will take time and "involve choices". He also said things may become clearer, economically, next week as exchequer returns for April will be published.
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Newcrest raises $1b for growth as virus sends gold price soaring The nation's top gold miner Newcrest has launched a $1.1 billion equity raising to fund growth at mines around the world and cash in on rising gold prices by lifting its exposure to a mine in South America. Newcrest, which on Thursday reported a 16 per cent ...
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China stocks log best month in five on virus drug trial, policy hopes SHANGHAI: China stocks rallied on Thursday to post their biggest monthly advance since December, after positive trial results for a drug to treat COVID-19 and downbeat data reinforced hopes of further stimulus to bolster the world's second-largest economy.
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Cinco de Mayo 2020 Takeout Deals in Miami Good fun and quarantine — the two just don't seem to go together. But Cinco de Mayo is fast approaching, and there's always a way to celebrate Mexico's 1862 victory over France in the Battle of Puebla. Whether you're throwing a solo fiesta or celebrating ...
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Flutter begins a 'new era' completing merger with Stars Group Ted Menmuir April 30, 2020 Europe, Featured News, Latest News, Sportsbook, UK Comments Off on Flutter begins a 'new era' completing merger with Stars Group. Share. StumbleUpon; Submit. Share. Related Articles. Ladbrokes · GVC revises credit facility ...
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CTA bus driver injured in vehicle crash in the Loop CHICAGO - A CTA bus driver was injured Thursday in a vehicle crash in the Loop, according to preliminary information from Chicago police. About 4:20 a.m. the bus was in the 100 block of North Clark Street, when it crashed into a black sedan, causing the ...
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Norway Joins Oil Production Cuts for First Time Since 2002 Norway, western Europe's biggest oil producer, joined international efforts to curb supply for the first time in almost two decades after prices plumbed new depths. The Nordic country will cut production by 250,000 barrels a day in June and 134,000 barrels in ...
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Lewiston Farmers' Market to open May 10 LEWISTON — The Lewiston Farmers' Market will open for the 2020 summer season from 10 a.m. to 2 p.m. Sunday, May 10, at the municipal parking lot on the corner of Lincoln and Main streets. As an essential service, the Lewiston Farmers' Market is proud ...
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Turkey digs in for currency battle The Turkish lira looks like it has been fairly steady in recent days, but behind the scenes a battle is raging to hold it up against the US dollar. Like many emerging-market currencies, the lira has crumbled under the strain of coronavirus ...
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BBB warns of phony websites popping up amid COVID-19 crisis With shortages of sanitizers, masks and paper products seen throughout the country since COVID-19 first surfaced, Better Business Bureau serving Minnesota and North Dakota warns that fake websites selling these and other related products have also ...
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Contactless payments surge 44% during COVID-19 as shoppers fear germs Nearly half of Aussies have decreased their use of cash when making purchases in person because of coronavirus fears, new data shows. Credit card giant Mastercard reported a major shift in consumer behaviour that has seen 44% of Aussies decrease their ...
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Unemployed workers face choice between safety and money as states reopen Americans may soon face a stark choice as more states begin to reopen their doors: Go back to work and risk catching the coronavirus, or stay home and lose unemployment aid. As governors allow more businesses and retail stores to come back online, ...
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