Wall Street falls as trade concerns resurface
Wall Street’s main indexes dropped about 1% on Thursday as investors worried about escalating U.S.-China trade tensions and concerns over a quick rebound from a coronavirus-led economic slump.
Trump to visit Ford plant in Michigan as political tensions flare
President Donald Trump travels on Thursday to the crucial U.S. election battleground state of Michigan to visit a Ford Motor Co plant amid hostility with its Democratic governor over how quickly to reopen its economy during the coronavirus pandemic.
Morgan Stanley CEO: too early to consider restarting share buybacks
Morgan Stanley’s Chief Executive Officer James Gorman told shareholders on Thursday that it is too early for him or anyone on the board of directors to consider reinstating the bank’s share buyback program.
Uber has spent $19 million on coronavirus financial assistance for drivers
Uber Technologies Inc on Thursday for the first time detailed how much it has spent to support its ride-hail drivers and food delivery workers during the coronavirus crisis, which has battered the company and forced it to lay off thousands of employees…
U.S. state unemployment payments in April jump five-fold from February
Unemployment payments jumped to at least $16.2 billion in April, up more than five-fold from February, as layoffs attributed to the coronavirus pandemic swept through the economy.
Largest asset manager wins backing for jumbo board
BlackRock Inc said all of its 16 director nominees received strong investor support at its annual meeting on Thursday, at which Chief Executive Laurence Fink defended the size of the company’s large board.
Michigan Governor Whitmer reopens auto showrooms and retail by appointment
Michigan Governor Gretchen Whitmer said on Thursday she signed a series of executive orders re-opening sectors of the economy across the state, including allowing retail and auto showrooms to resume operations by appointment.
U.S. weekly jobless claims grind lower but backlogs, layoffs linger
Millions more Americans filed for unemployment benefits last week as backlogs in processing claims continue to be cleared and disruptions from the novel coronavirus unleash a second wave of layoffs, pointing to another month of staggering job losses in…
S&P 500 flat as investors weigh trade tensions; TJX surges
The S&P 500 index was largely unchanged on Thursday as growing U.S.-China trade tensions and concerns about a rebound from a coronavirus-led economic slump were offset by an upbeat outlook from retailer TJX.
U.S. existing home sales post largest decline in nearly 10 years
U.S. home sales logged their biggest drop in nearly 10 years in April as the novel coronavirus pandemic upended the labor market and broader economy, undercutting demand for housing.
