U.S. new home sales tumble in March
Sales of new U.S. single-family homes dropped by the most in more than 6-1/2 years in March and further declines are likely as the novel coronavirus outbreak batters the economy and throws millions of Americans out of work.
Bezos, Musk among billionaires gaining net worth in pandemic: report
The combined wealth of America’s billionaires, including Amazon.com Inc founder Jeff Bezos and Tesla Inc chief Elon Musk, increased nearly 10% during the ongoing COVID-19 pandemic, according to a report published by the Institute for Policy Studies (…
U.S. House meets to pass $500 billion in coronavirus relief as unemployment soars
Hundreds of members of the U.S. House of Representatives gathered in Washington on Thursday to pass a $484 billion coronavirus relief bill, bringing the unprecedented total of funds approved for the crisis to nearly $3 trillion.
French conglomerate Bouygues’ boss cuts his 2020 pay by 25%
Martin Bouygues, the boss of family-run French conglomerate Bouygues , said on Thursday that he and his brother Olivier will cut their total compensation by 25% in 2020 in the context of the current COVID-19 pandemic.
Target sees margin squeeze as it spends more to meet coronavirus-led demand
Target Corp said on Thursday rising costs from trying to meet the fast-changing needs of consumers during the coronavirus crisis were set to hurt its first-quarter profit and margins, even as it recorded robust online sales during March and April.
Wall Street rises on hopes worst for labor market is over
Wall Street gained on Thursday as jobless claims declined for the third straight week, raising hopes the worst of the coronavirus pandemic’s impact on the labor market might be over, but a crash in business activity dulled sentiment.
Key U.S. lawmaker pushes for a ban on mergers until coronavirus pandemic ends
The chair of the House Judiciary Committee’s antitrust panel on Thursday called for a moratorium on mergers in the next coronavirus stimulus package and a ban on deals that are not directly related to companies about to fail.
U.S. new home sales fall sharply in March
Sales of new U.S. single-family homes dropped by the most in more than 6-1/2 years in March and further declines are likely as the novel coronavirus outbreak batters the economy and throws millions of Americans out of work.
Millions of Americans join unemployed ranks as coronavirus ravages economy
A stunning 26.5 million Americans have sought unemployment benefits over the last five weeks, confirming that all the jobs gained during the longest employment boom in U.S. history have been wiped out as the novel coronavirus savages the economy.
Gap warns of cash shortage, suspends rent payments
Gap Inc warned on Thursday it may not survive the next 12 months intact and would need to borrow more funds in the face of widespread coronavirus shutdowns that have crippled the business of clothing retailers globally.
