Rich world’s jobs crisis jolts money flows to millions
Carlos Sosa, a Salvadoran waiter in New York, used to send up to $500 a month back home to his mother to help pay for her medical bills and food. But now, after the coronavirus hit and he lost his job in early March, Sosa has burned through his savings…
Wall Street and Fed fly blind as coronavirus upends annual stress tests
U.S. financial regulators, banks and their investors will get their first glimpse into the health of the nation’s banking system as it confronts soaring corporate and consumer defaults in the economic crisis sparked by the novel coronavirus.
Factbox: What’s new with the Fed’s 2020 bank stress tests?
The Federal Reserve’s bank stress tests will look significantly different in 2020, thanks to regulatory changes and the dramatic economic turmoil brought on by coronavirus pandemic.
How grab-and-go food chains are adjusting to coronavirus reality
Restaurants devoted mainly to quick bites and drinks are reconfiguring their businesses to limit traffic in tight quarters and maintain coronavirus social distancing.
U.S. utilities look newly cheap, but face COVID-19 headwinds this summer
U.S. utility stocks have started to look like bargains after being considered expensive relative to the broader market for well over a year. Still, the outlook is far from certain as demand this summer is set to be hard hit by the contraction in commer…
Europe’s factories starting to recover, Asia’s pain worsens
European manufacturers may be over the worst of a coronavirus-driven downturn, but Asia’s pain deepened in May due to a slump in global trade, with export powerhouses Japan and South Korea seeing the sharpest falls in activity in over a decade, surveys…
Oil steady as OPEC+ considers extension to crude curbs
Oil prices were steady on Monday helped by reports that OPEC and Russia were closer to a deal on extending oil cuts but held back by renewed tension between the United States and China.
Emirates could take four years to resume flying to entire network
Emirates’ outgoing President Tim Clark on Monday said it could take the state carrier up to four years to resume flying to its entire network that has been decimated by the coronavirus pandemic.
Buffett-backed BYD to supply EV batteries to Ford
Chinese electric vehicle (EV) maker BYD Co Ltd , will supply EV batteries to U.S. automaker Ford Motor Co , a document on the website of the Ministry of Industry and Information Technology showed on Monday.
Stocks scale 3-month peak, dollar sags on reopening joy
World stocks were just shy of three-month highs and the dollar weakened further on Monday as optimism on economies opening up boosted risk appetite, shrugging off worries over riots in the U.S. and unease over Washington’s power struggle with Beijing.
