Global shares, oil rally on vaccine hopes, lockdown easing
A gauge of global equity markets surged almost 3% on Monday and oil rallied to highs last seen in mid-April as data from an early-stage trial for a coronavirus vaccine lifted hopes of a faster recovery from the pandemic-driven economic slump.
Trump says should be possible to allow PPP borrowers more time to use loans
U.S. President Donald Trump said on Monday extending the amount of time borrowers in the Paycheck Protection Program have to spend their funds to 24 weeks from the current eight weeks “should be easy.”
FCA has to strengthen investments in Italy to seek state-backed loan: Economy Minister
Italy’s Economy Minister Roberto Gualtieri on Monday said Fiat Chrysler [FCHA.MI] has to strengthen investments in Italy and avoid delocalizing its factories outside the national borders to apply for a state backed loan.
Oil jumps to two-month high on easing lockdowns, positive vaccine results
Oil prices on Monday jumped to their highest in over two months on positive early results on a potential coronavirus vaccine, optimism about a resumption in economic activity and signs producers were following through on planned output reductions.
More than 8% of U.S. mortgages now in forbearance: MBA weekly survey
Roughly 4.1 million U.S. mortgage borrowers have had their payments paused or reduced as the novel coronavirus outbreak hits household finances, but the increase in the number of people needing such help is slowing, the latest weekly survey from the Mo…
Lucky U.S. chickens fly the coop as pandemic hits egg demand
About 1,000 lucky chickens flew on two chartered cargo planes to a California sanctuary from an Iowa farm that has been euthanizing its flock as the coronavirus outbreak slashes restaurant demand for eggs, an animal rights group said.
Ailing icon Thyssenkrupp seeks partners for steel, warship units
Thyssenkrupp on Monday said it was looking for partners for its steel and warship divisions, singling out just three lines of businesses that will stay within the struggling German industrial icon.
S&P 500 hits 10-week high on vaccine hopes and stimulus promise
U.S. stocks jumped on Monday, and the S&P 500 reached a 10-week high, on encouraging early-stage data for a potential coronavirus vaccine and on the promise of more stimulus to lift an economy beaten down by the pandemic.
Oil on track for two-month high as lockdowns ease, positive vaccine results
Oil prices jumped on Monday, with both U.S. and Brent benchmarks on track for their highest settles in two months, supported by positive early results on a potential coronavirus vaccine and optimism about resumption in economic activity.
Uber to focus on core rides, delivery business as it cuts 23% of workforce
Uber Technologies Inc will concentrate on its core businesses in ride-hailing and food delivery and cut 23% of its workforce in an attempt to become profitable despite the coronavirus pandemic, Chief Executive Officer Dara Khosrowshahi said in an emai…
