Millions of Americans likely applied for jobless benefits last week though wave is stabilizing
Millions more Americans likely filed claims for unemployment benefits last week, but the tide appears to be slowing, offering cautious hope of a peak in job losses from business closures and disruptions because of the novel coronavirus.
Virgin Australia administrators halt bondholder payments, appoint Morgan Stanley for sale
Virgin Australia Holdings Ltd’s administrators have halted payments to bondholders and appointed Morgan Stanley to help sell the airline within four months, said a participant in a meeting of creditors owed nearly A$7 billion ($4.58 billion).
Clash of tech titans: Zuckerberg praises coronavirus lockdowns; Musk sees ‘fascism’
Silicon Valley billionaires Elon Musk and Mark Zuckerberg offered dueling views on lockdown measures designed to slow the spread of the coronavirus on Wednesday, with Facebook’s Zuckerberg endorsing the measures while Tesla’s Musk condemned them as ant…
Stocks rally on treatment hopes, currencies await ECB
Asian stocks rose to a seven-week high on Thursday, boosted by encouraging early results from a COVID-19 treatment trial, though bonds and currencies stuck to cautious ranges ahead of a European Central Bank meeting later in the day.
Tyson Foods temporarily pauses operations at beef facility in Dakota City
Tyson Foods Inc is halting operations at a beef facility in Dakota City, Nebraska until May 4 to complete a deep cleaning of the plant amid the coronavirus outbreak, a unit of the largest U.S. meat supplier said on Wednesday.
Tesla’s Elon Musk calling coronavirus lockdowns ‘fascist’ overshadows profitable quarter
Tesla Inc’s outspoken CEO Elon Musk on Wednesday called sweeping U.S. stay-at-home restrictions to curtail the coronavirus outbreak “fascist” as the electric carmaker posted its third quarterly profit in a row.
SoftBank sees $8.4 billion net loss on WeWork writedown
SoftBank Group Corp said it sees a loss of around 700 billion yen ($6.6 billion) in the year ending March on the portion of its WeWork investment held outside the Vision Fund, extending the group’s expected net loss to 900 billion yen.
Tesla’s Elon Musk calls coronavirus lockdowns ‘fascist’ as profit streak continues
Tesla Inc’s outspoken CEO Elon Musk on Wednesday called sweeping U.S. stay-at-home restrictions to curtail the coronavirus outbreak “fascist” as the electric carmaker posted its third quarterly profit in a row.
Asian stocks set to track U.S. gains as virus treatment hopes lift confidence
Asian equity markets were poised to gain on Thursday, tracking Wall Street’s rally after positive trial results of an experimental COVID-19 treatment, a U.S. Federal Reserve pledge to shore up the economy and a jump in oil prices.
Facebook sees ‘signs of stability’ in ad spending after coronavirus drop
Facebook Inc beat analysts’ estimates for quarterly revenue on Wednesday and said it has seen “signs of stability” for sales in April after a plunge in March, in yet another signal that tech giants may weather the coronavirus-induced economic collapse…
