Fast food sector hopes stimulus checks boost sales after tough quarter
Slumping sales at big fast food chains could get a boost as hungry and restless customers spend stimulus checks after long lockdowns, analysts and some operators said ahead of quarterly earnings that will show the extent of damage from the coronavirus …
Small U.S. businesses hope second time’s the charm for emergency aid
Cheryl Wellman is one of thousands of small business owners anxious to see if she’ll get a slice of the $310 billion in new emergency aid that was just released by Washington.
U.S. banks battle technology issues in race for $310 billion in new small-business aid
U.S. bankers racing to grab $310 billion in fresh small-business aid worked through the night on Tuesday, with many battling ongoing technology problems created by 11th hour changes to the first-come-first-served program, multiple bankers said.
Stocks rise despite mixed earnings; lockdown easing eyed
Stock markets across the globe moved in and out of losses on Tuesday, whipsawed by Wall Street as mixed corporate earnings reports were not enough to offset a wild ride in oil prices.
Merck sees $2.1 billion coronavirus hit to 2020 sales
Merck & Co Inc said on Tuesday it expects the coronavirus pandemic to reduce 2020 sales by more than $2 billion, and the U.S. drugmaker lowered its profit forecast as a big drop in doctors’ office visits during the outbreak will take a hefty toll, sending its shares down more than 3%.
PepsiCo sees snacking boost as lockdowns hammer soda sales
PepsiCo warned on Tuesday surging demand for Lays and Doritos would only partially offset a hit to business in the second quarter from coronavirus lockdowns that have shuttered restaurants, theaters and sports venues key for its soda sales.
Mnuchin warns some U.S. firms could face criminal liability over coronavirus loans
The U.S. Treasury Department will audit every loan for more than $2 million given under the Paycheck Protection Program for businesses hurt by the coronavirus fallout, Treasury Secretary Steven Mnuchin said on Tuesday.
Wall Street pares gains as U.S. consumer confidence plunges in April
Wall Street’s main indexes pared gains in early trading on Tuesday, as data showed U.S. consumer confidence tumbled in April as coronavirus-driven lockdowns sharply disrupted economic activity and left millions of Americans unemployed.
Ford investors eager for details on when automaker will restart U.S. operations
Investors already know how the coronavirus outbreak has hurt Ford Motor Co’s bottom line, so when the automaker releases first-quarter results on Tuesday they will focus on how and when Ford plans to restart North American operations.
Southwest posts first quarterly loss in nine years, shores up cash to weather pandemic
Southwest Airlines Co on Tuesday posted a $94 million quarterly net loss, its first in nine years, and warned of drastic revenue drops ahead as it sought to raise another $2.6 billion to help weather the coronavirus pandemic.
