Fed’s lending programs aren’t for insolvent oil drillers, Dallas Fed’s Kaplan says
Insolvent or overly leveraged firms, including oil drillers and oil services firms, won’t be able to tap the Federal Reserve’s emergency lending program for “Main Street,” Dallas Federal Reserve Bank President Robert Kaplan said Wednesday.
World shares mixed amid hopes for business pickup, weak data; oil slides
World equity markets were mixed on Wednesday, with U.S. indexes seesawing amid hopes for a pickup in business activity and as oil prices slumped with demand low after a rise in U.S. crude stockpiles last week to three-year highs.
S&P 500, Nasdaq up as tech stocks rise; lockdown easing hopes persist
The S&P 500 and Nasdaq rose on Wednesday on hopes of a pickup in business activity as states eased coronavirus-induced curbs, with investors also looking past a stunning 20 million plunge in U.S. private payrolls last month.
StanChart highlights climate goals amid criticism over carbon financing
Standard Chartered defended its environmental credentials after renewed criticism from climate campaigners for its funding of fossil fuel companies as the bank held its annual shareholder meeting on Wednesday.
CVS Health maintains 2020 profit forecast despite coronavirus hit
CVS Health Corp on Wednesday said it was sticking to its 2020 forecast and expected a strong second quarter, as reduced medical service use for its Aetna insurance business offset coronavirus-related expenses and the pandemic’s impact on pharmacy sal…
U.S. private payrolls tumble by a record 20.2 million in April
U.S. private employers laid off a record 20.236 million workers in April as mandatory business closures in response to the novel coronavirus outbreak savaged the economy, setting up the overall labor market for historic job losses last month.
United Airlines to raise $2.25 billion in bonds, rolls back plan to cut work hours
United Airlines Holdings Inc said on Wednesday it plans to raise $2.25 billion through a bond offering amid a coronavirus-linked slump in air travel demand, and backtracked on a controversial plan to cut working hours for thousands of employees.
Barrick profit jumps on higher gold prices, eyes deals
Barrick Gold Corp posted a nearly 55% rise in quarterly profit on Wednesday as gold prices surged, bolstering its ability to snap up mines including in copper, its chief executive said.
Uber to cut 3,700 jobs, CEO Khosrowshahi to waive base salary
Uber Technologies Inc will cut about 3,700 full-time jobs and Chief Executive Officer Dara Khosrowshahi will forgo his base salary for the remainder of the year, the company said on Wednesday, as the COVID-19 pandemic decimates ride-hailing businesses….
Wall Street climbs on hopes of easing restrictions
U.S. stocks opened higher on Wednesday on hopes of a pickup in business activity with states easing coronavirus-induced curbs, while investors looked past a stunning 20 million plunge in U.S. private payrolls last month.
