Coronavirus hurts corporate activism as M&A, buybacks decline
Activist shareholders are likely to scale back campaigns in coming weeks as target companies brace for a deep recession and their favorite calls for change – ranging from mergers to returning cash – are ignored during the coronavirus outbreak.
U.S. opposes massive liquidity IMF boost: Mnuchin
The United States opposes creation of liquidity through issuance of the International Monetary Fund’s Special Drawing Rights (SDRs) as part of the response to the coronavirus pandemic, U.S. Treasury Secretary Steven Mnuchin said on Thursday.
VW ditches outlook after COVID-19 hammers first-quarter profit
Germany’s Volkswagen Group withdrew its outlook for 2020 on Thursday due to uncertainty related to the new coronavirus outbreak which caused operating profit to drop 81% in the first quarter.
Morgan Stanley profit plunges, warns of more pain ahead
Morgan Stanley Chief Executive Officer James Gorman warned that the bank would take “longer to achieve” its medium-term financial targets due to the coronavirus crisis, after its first-quarter profit slumped by 30%.
Stocks head for higher ground, Italian bond stress eases
Europe led world stock markets back to higher ground on Thursday as tentative moves to reopen parts of the some of its larger coronavirus-hit economies and a bounce in oil offset some truly dismal global economic data.
Oil prices rise after sharp losses caused by U.S. stockpile surge
Oil prices rose on Thursday after sharp losses in the previous session, with investors hoping that a build-up in U.S. inventories may mean producers have little option but to cut output as the coronavirus pandemic ravages demand.
Futures jump as weekly jobless claims fall
U.S. stocks index futures jumped on Thursday after weekly U.S. jobless claims fell to 5.2 million last week from an upwardly revised 6.62 million the week before.
U.S. weekly jobless claims top 5.2 million in latest week
Another 5.2 million more Americans sought unemployment benefits last week, lifting total filings for claims over the past month above an astounding 20 million, which would underscore the deepening economic slump caused by the novel coronavirus outbreak…
Airbus says has received many requests to defer deliveries
Airbus said on Thursday it had received multiple requests from customers to defer deliveries after travel demand collapsed due to the coronavirus epidemic.
Lockdown easing hopes lift futures ahead of jobless claims
U.S. stock index futures edged higher on Thursday, as hopes President Donald Trump would ease strict stay-at-home restrictions lifted the mood even as investors braced for another staggering jobless claims figure.
