Wall Street tumbles as oil crash stirs pandemic fears
Wall Street tumbled for a second straight day on Tuesday as a collapse in U.S. oil prices and glum forecasts by companies worsened fears of a deep economic downturn.
Netflix adds more subscribers in first quarter, shares rise
Netflix Inc on Tuesday reported more paid subscribers than expected in the first quarter, as global lockdowns to curb the spread of the novel coronavirus forced people to stay at home and watch shows online including its wildly popular “Tiger King.”
Exclusive: ValueAct eyes Nintendo with stake of over $1.1 billion, letter shows
Activist investor ValueAct Capital Partners LP has built a stake of over $1.1 billion in Nintendo , according to a letter seen by Reuters, a bet that digital software distribution and the development of new entertainment products will fuel growth at th…
Texas Instruments forecast current-quarter sales below estimates
Texas Instruments Inc on Tuesday forecast second-quarter revenue below Wall Street estimates, as the chip industry braces for a big hit from the coronavirus outbreak.
U.S. videogame sales surge in March as lockdown keeps people indoor
Videogame sales in March hit their highest in over a decade, as Americans turned to games like “Animal Crossing: New Horizons” and “Call of Duty: Modern Warfare” because of lockdowns to stem the spread of the coronavrius.
JPMorgan Chase plans to return employees to work in phases: memo
JPMorgan Chase & Co, the largest U.S. lender, said on Tuesday it was working on a plan to bring thousands of employees who have been working from home for more than five weeks back onsite in stages, according to an internal memo seen by Reuters.
U.S. Congress, White House agree on nearly $500 billion more coronavirus bailout
U.S. congressional leaders and the White House agreed on Tuesday on nearly $500 billion more in coronavirus relief for the U.S. economy, bringing to nearly $3 trillion the amount allocated to deal with the crisis.
U.S.’ Pelosi, Schumer welcome deal with funds for small business, hospitals and testing
U.S. House Speaker Nancy Pelosi and Senate Democratic leader Chuck Schumer welcomed a bipartisan deal reached on small business loan support, along with money for hospitals and testing, and said the U.S. Congress would aim to pass it this week.
Oil giveaway spells doom, brings out market bears
The crash in U.S. crude prices has turned a reliable commodity less than worthless and given fresh urgency to bearish voices, who say it sounds alarm bells for global growth and are bracing for a catastrophic collapse in asset prices.
U.S. Senate deal does not extend assistance to local news outlets
A nearly $500 billion spending deal reached by U.S. Senate leaders on Tuesday does not expand payroll assistance to struggling local newspapers and broadcast stations, whose advertising revenues have plummeted during the coronavirus pandemic.
