Exclusive: J.C. Penney to file for bankruptcy as soon as next week, sources say
J.C. Penney Co Inc is preparing to file for bankruptcy protection as soon as next week with plans to permanently close about a quarter of its roughly 850 stores, becoming the latest major U.S. retailer to succumb to fallout from the coronavirus outbre…
Still hiring! Walmart, other superstores buck U.S. employment trend
Amid the carnage of the U.S. employment report for April was one bright spot: superstores led by Walmart Inc , the world’s largest retailer, added more than 90,000 jobs.
Wall Street weekahead: U.S. data deluge to underscore divide between roaring market, plunging economy
A week packed with U.S. economic data is likely to provide investors with more evidence of the extent to which the coronavirus pandemic has hit growth, sharpening the debate on whether a rebound in stocks has been justified amid an unprecedented slowdo…
Stocks hit weekly highs as markets shrug off dismal U.S. jobs data
Equity markets rallied on Friday, hitting weekly highs, and oil prices gained as more governments around the world began gradually reopening their economies and Sino-American trade tensions eased.
U.S. post office loss doubles as it warns COVID-19 will hit its finances
The U.S. Postal Service on Friday said its losses more than doubled to $4.5 billion in the quarter ending in March and warned the economic slowdown spurred by the spread of COVID-19 could severely hurt its finances over the next 18 months.
U.S. wholesale inventories revised up in March
U.S. wholesale inventories fell in March, albeit less than initially estimated, and further decreases are likely as the novel coronavirus outbreak continues to weigh on imports of goods.
U.S. labor market shatters post World War 2 records as coronavirus lockdowns bite
The U.S. economy lost a staggering 20.5 million jobs in April, the steepest plunge in payrolls since the Great Depression and the starkest sign yet of how the novel coronavirus pandemic is battering the world’s biggest economy.
J.C. Penney to file for bankruptcy as soon as next week, sources say
J.C. Penney Co Inc is preparing to file for bankruptcy protection as soon as next week with plans to permanently close about a quarter of its roughly 850 stores, becoming the latest major U.S. retailer to succumb to fallout from the coronavirus outbre…
Microsoft to invest $1.5 billion in Italian cloud business
Microsoft Corp. said on Friday it would create its first datacentre region in Italy under a $1.5 billion investment plan as the U.S. company expands its cloud computing services to more locations across the world.
Wall Street rises on better-than-feared jobs report, easing Sino-U.S. tension
U.S. stock markets gained on Friday after data showed the economy lost fewer jobs in April than feared due to the coronavirus crisis, adding to optimism from an easing in tensions between Washington and Beijing.
