U.S. goods trade deficit rises as auto exports tumble
The U.S. goods trade deficit widened in March amid a collapse in exports of motor vehicles and parts, but overall imports continued to decline likely as the novel coronavirus outbreak disrupted the flow of goods.
Equities brush off oil price chaos
World stocks jetted to their highest in almost six weeks on Tuesday as plans to ease coronavirus lockdowns in a number of major economies helped offset more chaos in oil markets and warning of mounting bad credit at HSBC and Santander.
Mnuchin warns that U.S. Treasury will audit coronavirus business 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 set to jump as 3M, Pfizer earnings impress
Wall Street was set to open higher on Tuesday after a round of quarterly earnings reports brought upbeat signs from Pfizer and respiratory mask-maker 3M for investors increasingly hopeful of a relaunch of business across the economy.
Harley-Davidson cuts dividend, halts buybacks to preserve cash
Harley-Davidson Inc cut its quarterly dividend to just 2 cents and suspended share buybacks on Tuesday to boost its cash reserves as global lockdowns due to the coronavirus pandemic hit motorcycles sales in the first quarter.
Merck sees $2.1 billion hit to full-year sales from coronavirus pandemic
Merck & Co Inc warned of a $2.1 billion hit to its 2020 revenue on Tuesday as social distancing due to the COVID-19 pandemic is expected to hammer sales of medically administered drugs including its blockbuster Keytruda treatment.
PepsiCo says snacks to ease, not cure its lockdown blues
PepsiCo Inc warned on Tuesday organic revenue and operating profits would suffer in the second quarter as major buyers of its sodas, such as restaurants, theaters and stadiums, were forced to shut down to help control the spread of the coronavirus.
Lufthansa still considering protection from creditors: company source
The idea of German flagship carrier Lufthansa using a type of protection from creditors is not yet off the table, a source at the airline said on Tuesday.
Bavarian premier says Lufthansa CEO’s warning should be taken seriously
The premier of the German state of Bavaria on Tuesday said a warning issued by Lufthansa’s CEO – that governments should not have too much influence on the airline – should be taken seriously.
Southwest posts first quarterly loss in nine years and warns on outlook
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.
