France’s Renault reaches deal on 5 billion euro state-backed loan: sources
French carmaker Renault has sealed a deal with banks on a 5 billion-euro ($5.47 billion) state-guaranteed loan to help the company to cope with the coronavirus outbreak, two sources close to the matter told Reuters on Tuesday.
Airlines say ticket cancellations slowing; Delta sees cash flow break-even this year
Top U.S. airlines and Air Canada on Tuesday reported slower ticket cancellations and signs of improving demand, with Delta Air Lines Inc saying its cash flow was on track to reach break-even by the end of the year.
Euro gains on EU recovery-fund plan, oil climbs
The euro and European government debt rallied on Tuesday, lifted by a Franco-German proposal to fund grants for regions hit hardest by the coronavirus pandemic, while oil traded mostly higher on growing demand as countries eased business lockdowns.
Fed, Treasury chiefs face heat over uneven U.S. coronavirus response
Federal Reserve Chair Jerome Powell and Treasury Secretary Steven Mnuchin found themselves in the hot seat on Tuesday as U.S. lawmakers grilled them about the uneven nature of the fiscal response to the fallout from the coronavirus pandemic.
Coronavirus hammers U.S. homebuilding; permits tumble
U.S. homebuilding dropped by the most on record in April and permits for future construction tumbled, underlining fears that the coronavirus crisis would lead to the deepest economic contraction in the second quarter since the Great Depression.
Asda CEO expects resumption of stake sale talks when Walmart ready
Talks between Walmart and possible buyers of a majority stake in its British supermarket Asda will likely resume when the industry settles into a “new norm” with the worst of the coronavirus crisis behind it, the boss of Asda said on Tuesday.
Microsoft to adapt its cloud software for healthcare industry
Microsoft Corp said on Tuesday it plans to roll out a version of its cloud-based software that will be modified to suit the needs of healthcare organizations.
S&P 500 steady after mixed retail earnings
The S&P 500 was trading flat on Tuesday, handing back some gains from a strong rally in the previous session, as investors digested a mixed set of quarterly results from retailers including Home Depot and Walmart.
Exclusive: Exxon revives sale of stake in giant Azeri oilfield
Exxon Mobil has relaunched the sale of its stake in Azerbaijan’s largest oilfield, the company said on Tuesday, as banking and industry sources said the move was drawing interest from large Asian oil and gas companies seeking to capitalize on the rece…
S&P recovery will be far faster than 2008: Citigroup
U.S. stock markets will deliver among the steepest recoveries in their history over the next year, returning to levels from before March’s coronavirus lockdowns more than twice as fast as after the 2008 financial crisis, according to analysts from U.S….
