U.S. housing starts fall sharply in April
U.S. homebuilding dropped to a five-year low in April, underlining fears that the novel coronavirus crisis would lead to the deepest economic contraction in the second quarter since the Great Depression.
British retailer Asda’s customers fear economic depression
British supermarket group Asda got a sales boost in the first quarter from consumers stocking up before the coronavirus lockdown but it also highlighted that 90% of its shoppers now fear an economic depression.
Wall Street set to open flat; Walmart jumps on results
U.S. stock index futures were trading flat on Tuesday, handing back some gains from the S&P 500’s best day in six weeks in the previous session, as investors digested a mixed set of quarterly results from retailers including Home Depot and Walmart.
Southwest and United airlines say ticket cancellations slowing, demand improving
Two top U.S. airlines said on Tuesday ticket cancellations were slowing and demand was showing some signs of improvement, with Southwest Airlines Co recording more trip reservations than cancellations so far this month.
Trump administration awards contract to make COVID-19 drugs in U.S.
U.S. President Donald Trump’s administration awarded a contract worth up to $812 million for a new U.S. company to manufacture drugs and drug ingredients to fight COVID-19 on American soil, aiming to end dependence on other countries.
Exclusive: Nasdaq informs China’s Luckin Coffee it must delist-sources
Nasdaq Inc has delivered a notice to China’s Luckin Coffee Inc informing it that it has to delist from the U.S. stock exchange, people familiar with the matter said on Tuesday.
Mnuchin says seeing large second quarter unemployment, negative economic data
U.S. Treasury Secretary Steven Mnuchin said on Tuesday that he is continuing to see large unemployment numbers and other negative economic indicators during the second quarter, but the situation is expected to improve as the U.S. economy starts to reop…
Walmart sales surge at stores and online on coronavirus-led demand
Walmart Inc emerged among the winners of the coronavirus lockdowns, beating Wall Street’s quarterly revenue and profit forecasts and setting an online sales record as millions of consumers stocked up on food and cleaning supplies.
Fiat Chrysler’s loan request raises doubts about $6 billion dividend
Italy could look into Fiat Chrysler’s planned 5.5 billion euro ($6 billion) payout as part of its merger with Peugeot after the Italian-American carmaker asked for a 6.3 billion euro state-backed loan, a senior government source said.
United Airlines says air travel demand improving
United Airlines Holdings Inc said on Tuesday it has seen a moderate improvement in demand for air travel so far in May in the United States and some international markets, as well as a reduction in cancellation rates.
