Exclusive: Chevron sees up to 15% reduction in positions – memo
Chevron Corp expects a 10% to 15% reduction in positions across the company as part of a restructuring at the second-largest U.S. oil producer that started late last year, according to an internal memo seen by Reuters.
All three Detroit automakers had workers test positive for COVID-19 since plants reopened
In the week since U.S. auto factories reopened after coronavirus lockdowns, workers at all three Detroit automakers have tested positive for COVID-19 but only Ford Motor Co has temporarily closed plants.
Ackman says portfolio is up as much as 27%, sold Berkshire recently
Billionaire investor William Ackman told investors on Wednesday that his funds have gained as much as 27% this year and that the stocks he already owns are still cheap after the coronavirus sparked a historic market sell off in March.
Boeing cutting more than 12,000 U.S. jobs with thousands more planned
Boeing Co said Wednesday it was eliminating more than 12,000 U.S. jobs, including involuntary layoffs of 6,770 U.S. workers as the largest American planemaker restructures in the face of the coronavirus pandemic.
Oil slides on U.S.-China tensions, doubts about Russian output cuts
Oil futures tumbled on Wednesday after U.S. President Donald Trump said he was working on a strong response to China’s proposed security law in Hong Kong and as some traders doubted Russia’s commitment to deep production cuts.
Lufthansa board rejects EU conditions on $10 bln bailout
German airline Lufthansa’s supervisory board on Wednesday rejected conditions imposed by Brussels on a proposed government bailout, casting fresh doubt on the 9 billion euro ($9.9 billion) rescue.
Tech weakness weighs on S&P 500, Nasdaq
A selloff in technology stocks dragged on the S&P 500 and Nasdaq on Wednesday, with investors also cautious about brewing U.S.-China tensions at a time when policymakers are attempting to revive the global economy from a coronavirus-driven slump.
Goldman Sachs president says bank on track to meet growth goals
Goldman Sachs Group Inc President and Chief Operating Officer John Waldron said Wednesday that the bank remains on track to achieve its medium and long term growth targets despite the economic shocks caused by the novel coronavirus.
All 3 Detroit automakers had workers test positive for COVID-19 since plants reopened
In the week since U.S. auto factories reopened after coronavirus lockdowns, workers at all three Detroit automakers have tested positive for COVID-19 but only Ford Motor Co has temporarily closed plants.
Dollar steadies against euro; yuan slips on U.S.-China tensions
The dollar steadied against the euro on Wednesday even as the common currency remained supported by news of a proposal for an economic recovery package to help the euro zone region recover from the coronavirus pandemic.
