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3 Apr

American Airlines slashes flights but has no plans to halt U.S. service

American Airlines Slashes Flights But Has No Plans To Halt U.S. Service

. American Airlines passenger planes crowd a runway where they are parked at Tulsa International Airport in Tulsa By David Shepardson WASHINGTON American Airlines (NASDAQ:AAL) Co said on Thursday it is cutting additional flights this summer as travel demand has drastically shrunk amid the coronavirus pandemic. Vasu Raja, American Airlines' sen

2 Apr

GM rolls out safety protocols for ventilator-making workers

GM Rolls Out Safety Protocols For Ventilator-making Workers

. By Nick Carey DETROIT General Motors Co (N:GM) on Thursday rolled out a series of safety measures for workers in Indiana who will make ventilators, outlining what could be a blueprint for opening U.S. auto plants in the coming weeks. More than 1,000 GM workers will make the ventilators at GM's Kokomo, Indiana, plant. The automaker aims to begin mass p

2 Apr

JPMorgan Chase probably unable to accept small business loan applications Friday: memo

JPMorgan Chase Probably Unable To Accept Small Business Loan Applications Friday: Memo

. A woman passes by a JPMorgan Chase bank in Times Square in New York NEW YORK JPMorgan Chase & Co (N:JPM) emailed many small business customers on Thursday to tell them it is still awaiting federal guidance on the small business loans program Congress approved last week, and it may not be ready to accept applications when the program laun

2 Apr

Day Ahead: Top 3 Things to Watch for April 3

Day Ahead: Top 3 Things To Watch For April 3

. By Kim Khan Wall Street ended up solidly in the green today, but it took an unprecedented rise in oil prices to lift it out of its uncertainty.Energy stocks led the broader market higher after oil posted its best one-day on hopes (fueled by a tweet from President Donald Trump) that Saudi Arabia and Russia could put differences aside and slash crude output to th

2 Apr

Economists See U.S. Facing Worst-Ever Quarterly Contraction

Economists See U.S. Facing Worst-Ever Quarterly Contraction

. A American flag is displayed on the factory floor at the Holley Performance Products Inc. manufacturing facility in Bowling Green, Kentucky, U.S., on Friday, Dec. 18, 2015. Photographer: Luke Sharrett/ -- Economists say the U.S. is entering a sharp recession, with some projecting gross domestic product is headed for its worst drop in quarterl

2 Apr

U.S. stocks higher at close of trade; Dow Jones Industrial Average up 2.24%

U.S. Stocks Higher At Close Of Trade; Dow Jones Industrial Average Up 2.24%

. U.S. stocks higher at close of trade; Dow Jones Industrial Average up 2.24% – U.S. stocks were higher after the close on Thursday, as gains in the Oil & Gas, Telecoms and Utilities sectors led shares higher.At the close in NYSE, the Dow Jones Industrial Average added 2.24%, while the S&P 500 index climbed 2.28%, and the NASDAQ Composite index added 1.72%

2 Apr

Tesla Soars as Deliveries Beat Amid ‘Best Ever’ 1Q Production

Tesla Soars As Deliveries Beat Amid ‘Best Ever’ 1Q Production

. By Yasin Ebrahim Tesla surged in after-hours trading on Thursday after its first-quarter deliveries topped analysts estimates, with the electric automaker hailing its "best ever" first quarter of production, despite coronavirus-led disruptions.Tesla (NASDAQ:TSLA) was up 10% after the report.Tesla said it had delivered about 88,400 in the first quarter of 2020,

2 Apr

New York Unemployment Fund Nears Insolvency as Claims Skyrocket

New York Unemployment Fund Nears Insolvency As Claims Skyrocket

. New York Unemployment Fund Nears Insolvency as Claims Skyrocket --New York is the epicenter of the coronavirus pandemic. It’s also among the states least prepared to deal with the record surge of unemployment claims by workers in restaurants, retail shops and hotels closed to slow the outbreak.New York’s unemployment insurance trust had about $2.7 b

2 Apr

Bed Bath sues 1-800-Flowers for trying to renege on deal over COVID-19

Bed Bath Sues 1-800-Flowers For Trying To Renege On Deal Over COVID-19

. By Tom Hals WILMINGTON, Del Bed Bath & Beyond Inc (O:BBBY) has asked a judge to hold 1-800-Flowers.Com Inc (O:FLWS) to a $252 million deal between the companies in what appears to one of the first examples of a corporate sale coming unraveled due to the coronavirus pandemic. The internet retailer of flowers and gift baskets agreed in February to

2 Apr

Tesla sees strong Model Y production, deliveries; shares rise

Tesla Sees Strong Model Y Production, Deliveries; Shares Rise

. Tesla Inc CEO Elon Musk attends an opening ceremony for Tesla China-made Model Y program in Shanghai Tesla Inc (O:TSLA) said on Thursday Model Y production and deliveries were significantly ahead of schedule, even as its March quarter deliveries fell short of Wall Street estimates by about 5,000 vehicles. The company's shares surged about 15

2 Apr

Starboard pushes forward with proxy fight at GCP Applied Technologies

Starboard Pushes Forward With Proxy Fight At GCP Applied Technologies

. By Svea Herbst-Bayliss BOSTON Activist investor Starboard Value is pushing ahead with a proxy contest at GCP Applied Technologies (N:GCP), arguing that its director nominees would steer the chemical company through the current economic crisis more successfully than the current board. The New York-based hedge fund owns roughly 9% of the Cambridge, Mass

2 Apr

Stocks - Dow Racks up Gains in Wild Trading as Oil Prices Notch Biggest 1-Day Gain

Stocks - Dow Racks Up Gains In Wild Trading As Oil Prices Notch Biggest 1-Day Gain

. By Yasin Ebrahim  – The Dow rallied on Thursday, but traders had to contend with another wild session on Wall Street, as oil prices mounted their biggest one-day percentage gain ever, overshadowing a record jump in jobless claims amid a coronavirus-led lockdown across swathes of the country, with infections topping 1 million worldwide. The Dow rose 2.24%, or 4

2 Apr

Trump invokes Defense Production Act for ventilator manufacturing

Trump Invokes Defense Production Act For Ventilator Manufacturing

. U.S. President Trump addresses the coronavirus response briefing at the White House in Washington WASHINGTON U.S. President Donald Trump on Thursday invoked the Defense Production Act to aid companies building ventilators for coronavirus patients to receive the supply of materials they need. In a memo released by the White House, Trump directed the U.S.

2 Apr

Coronavirus punishes Warren Buffett's equity holdings

Coronavirus Punishes Warren Buffett's Equity Holdings

2/2Reuters. Berkshire Hathaway CEO Warren Buffett waits to play table tennis during the Berkshire Hathaway annual meeting weekend in Omaha, Nebraska 2/2 By Jonathan Stempel NEW YORK The coronavirus pandemic may have erased around $64 billion of value from Warren Buffett's equity portfolio at Berkshire Hathaway Inc (N:BRKa

2 Apr

Tesla misses estimates for quarterly deliveries

Tesla Misses Estimates For Quarterly Deliveries

. Tesla Inc CEO Elon Musk attends an opening ceremony for Tesla China-made Model Y program in Shanghai Tesla Inc (O:TSLA) on Thursday fell short of Wall Street estimates for first-quarter vehicle deliveries, due to the production disruptions and shutdowns caused worldwide by the coronavirus pandemic. The company delivered 88,400 vehicles in th

2 Apr

Oil jump lifts Wall Street as jobless claims data surges

Oil Jump Lifts Wall Street As Jobless Claims Data Surges

. NYSE-AMEX Options floor traders from TradeMas Inc. work in an off-site trading office due to the outbreak of the coronavirus disease (COVID-19), in New York By Medha Singh and Uday Sampath Kumar Wall Street bounced on Thursday as a recovery in oil prices outweighed the shock of weekly jobless claims soaring past 6 million. Initial claims f

2 Apr

General Motors, Honda to jointly develop two new electric vehicles

General Motors, Honda To Jointly Develop Two New Electric Vehicles

2/2Reuters. Honda's logo on its Modulo model is pictured at its showroom at its headquarters in Tokyo 2/2 General Motors (N:GM) and Honda Motor Co Ltd (T:7267) said on Thursday the companies would jointly develop two new electric vehicles for Honda. The new vehicles will use GM's batteries, the companies said, adding that they would go

2 Apr

U.S. small business bailout starts Friday. Is the government ready?

U.S. Small Business Bailout Starts Friday. Is The Government Ready?

. Outbreak of the coronavirus disease (COVID-19) in New Jersey By Andy Sullivan and Ann Saphir Chris Hurn, founder of Fountainhead Commercial Capital, has received 7,400 small business loan requests in the past two weeks, more than his business has handled in its five years of existence. The Lake Mary, Florida-based non-bank lender is just on

2 Apr

Yield-thirsty investors eye stock dividends as virus fears shrink bond payouts

Yield-thirsty Investors Eye Stock Dividends As Virus Fears Shrink Bond Payouts

. By Noel Randewich Battered S&P 500 stocks may get fresh interest from investors turning to dividends in a world of shrinking bond yields. The dividend yield on the S&P 500 now exceeds the yield on the benchmark 10-year U.S. Treasury by its highest margin in nearly five decades after a flight to safe-haven assets compressed government bond yie

2 Apr

GE to furlough 50% of U.S. engine assembly, component manufacturing ops staff

GE To Furlough 50% Of U.S. Engine Assembly, Component Manufacturing Ops Staff

. The logo of U.S. conglomerate General Electric is seen on the company building in Belfort General Electric Co (N:GE) said on Thursday it would furlough about half its workers in the U.S. engine assembly and component manufacturing operations, a move that would affect thousands of employees, as the coronavirus pandemic hurts travel demand. The furlough

2 Apr

Delivery platform Grubhub to give $30 million of funding to restaurants

Delivery Platform Grubhub To Give $30 Million Of Funding To Restaurants

. NEW YORK The third-party delivery provider Grubhub Inc (N:GRUB) on Thursday will notify more than 100,000 restaurants using its platform that they each will get $250 of fundingat a total cost to Grubhub of up to $30 millionto help offset losses from the coronavirus crisis. The restaurantsonly small, independent outlets or regional chain fra

2 Apr

Stocks - Dow Higher After Briefly Turning Lower Amid Saudi-Russia Truce Doubts

Stocks - Dow Higher After Briefly Turning Lower Amid Saudi-Russia Truce Doubts

. By Yasin Ebrahim   – The Dow cut gains on Thursday, as the rally in oil cooled somewhat after Russia reportedly signaled its prepared to stick out the lower oil prices environment, casting doubt on President Trump’s bullish claim of a potential Saudi-Russia agreement to cut production.     The Dow rose 0.3%, or 62 points, but had been 500 points up at th

2 Apr

3M Ramps up Mask Production, but Still Can't Meet Demand

3M Ramps Up Mask Production, But Still Can't Meet Demand

By Yasin Ebrahim The coronavirus pandemic has put health masks at the top of the list of must-have essentials for health care professionals and individuals alike, but manufacturers are warning it could be months before they can meet demand. Despite doubling its production of N95 masks since January, considered the gold standard by medical workers and p

2 Apr

Italy's UniCredit agrees 5,200 voluntary layoffs, 2,600 hirings: unions

Italy's UniCredit Agrees 5,200 Voluntary Layoffs, 2,600 Hirings: Unions

. MILAN Italy's biggest bank UniCredit (MI:CRDI) has agreed with unions 5,200 voluntary layoffs to meet staff reduction goals under a new four-year plan presented in December, unions said on Thursday. "The agreement reached today puts an end to all ideas about redundancies at UniCredit," unions FABI, FIRST CISL, CGIL FISAC, UILCA and UNISIN said in a jo

2 Apr

EU banking watchdog sets out relief for virus-hit loans

EU Banking Watchdog Sets Out Relief For Virus-hit Loans

2/2Reuters. The spread of the coronavirus disease (COVID-19) in Frankfurt 2/2 By Huw Jones LONDON The European Union's banking watchdog published guidance on Thursday to help banks avoid having to step up provisioning for loans to companies temporarily hit by the coronavirus crisis. Several EU countries have introduced stop-gap "morato