Uber expects up to $2.2 billion charge, drop in quarterly revenue due to pandemic
Uber Technologies Inc said on Thursday it expects an impairment charge of up to $2.2 billion in the first quarter due to the coronavirus outbreak and revenue to decline by $17 million to $22 million in the quarter.
French state may call on banks to contribute to Air France bailout
The French government may call on banks to contribute to a bailout of Air France KLM if it offers state support to the struggling airline, the finance minister said on Thursday.
World stocks gain on stay-at-home profits, bond yields slide
World stock markets edged higher on Thursday on surging shares of Netflix and Amazon.com as investors anticipated big earnings from the coronavirus-induced slowdowns keeping people at home, while bond yields fell as data reflected record U.S. joblessne…
Fed’s Bostic: U.S. small business may need up to $500 billion monthly in support through crisis
U.S. small businesses may need up to $500 billion a month to ensure their survival through the coronavirus crisis, the head of the Atlanta Federal Reserve Bank said on Thursday as Fed officials voiced concern over the speed and breadth of the country’s…
Coronavirus set to usher in big changes at U.S. offices
The novel coronavirus may do to U.S. office rentals what e-commerce did to malls, or so goes a line of thinking running through commercial real estate circles.
Facebook to notify users who have engaged with harmful COVID-19 posts
Facebook Inc said on Thursday it would start notifying users who had engaged with false posts about COVID-19 which could cause physical harm, such as drinking bleach to cure the virus, and connect them to accurate information.
Wall Street rises as Amazon and Netflix hit record highs
U.S. stocks rose on Thursday as Amazon.com Inc and Netflix Inc surged to record highs, although trading was choppy as investors worried about the impact of the coronavirus pandemic on first-quarter earnings.
Neiman Marcus skips debt payment as potential bankruptcy looms
Neiman Marcus Group skipped a debt payment due this week, the latest sign of a cash crunch pushing the U.S. luxury department store chain to the brink of a possible bankruptcy after it temporarily closed stores amid the coronavirus pandemic.
Oil little changed, U.S. ties 18-year low after OPEC cuts demand forecast
Oil prices ended little changed on Thursday after OPEC’s lowering of its global demand forecast for 2020 was offset by some European countries saying they would relax coronavirus restrictions, pointing to a potential rebound in consumption.
Bleak jobs data keeps dollar at one-week high
The dollar hit a one-week high on Thursday as investors fled to safe-haven assets following the release of weekly U.S. jobless data which showed a record 22 million Americans have sought unemployment benefits in the last month, erasing nearly all job g…
