Hoarding for lockdown drives best Nestle sales growth in years
Swiss food giant Nestle reported its best quarterly sales growth in nearly five years on Friday as consumers stockpiled anything from Purina pet food to Nescafe coffee to frozen meals in preparation for coronavirus lockdowns.
AT&T announces John Stankey will become CEO on July 1
Veteran John Stankey will take over as AT&T chief executive officer, the company announced on Friday, as the U.S. telecommunications and media giant grapples with the impact of the coronavirus outbreak and its entrance into the global streaming wars.
U.S. core capital goods orders post surprise gain in March
New orders for key U.S.-made capital goods unexpectedly rose in March, but the gains are not likely to be sustainable amid the novel coronavirus outbreak, which has abruptly shut down the country and contributed to a collapse in crude oil prices.
Wall Street backs off European corporate lending to focus on America: sources
U.S. investment banks are shrinking lending activity in Europe as the pandemic forces them to focus on home, allowing BNP Paribas and other European lenders to fill the gaps and grab market share, sources familiar with the matter told Reuters.
FCA to resume preparatory operations at Melfi plant in Italy from Monday
An average of 750 workers of Fiat Chrysler Melfi assembly plant in southern Italy will be back to work next week to prepare the facility for the final development of the group’s new hybrid cars, a union representative said on Friday.
Oil heads for another weekly slide after coronavirus turmoil
Oil prices rose on Friday, but were on course for their third straight weekly loss as production shutdowns failed to keep pace with the collapse in demand caused by the coronavirus crisis.
As U.S. coronavirus death toll nears 50,000, Georgia forges ahead with reopening
With the U.S. coronavirus death toll nearing 50,000, Georgia pushed ahead with its plan to become the first state to allow an array of small businesses to reopen on Friday despite the disapproval of U.S. President Donald Trump and health experts.
Senator Rubio: new small business aid program to launch Monday
The U.S. Small Business Admininstration will make additional coronavirus-related financial assistance available to small businesses beginning on Monday, a top Republican senator said.
French court upholds ruling limiting Amazon deliveries during COVID-19 crisis
A French court on Friday rejected U.S. online retailer Amazon’s appeal against a ruling that restricts what it can deliver during the coronavirus crisis.
Tech & healthcare tighten grip on world stock markets
The technology and healthcare sectors have tightened their grip on global stock markets since the coronavirus shock knocked world shares from February’s record highs.
