Dollar extends gains as U.S. retail slump sparks flight to safety
A flight to safety bid pushed the dollar higher against its peers on Thursday after dire retail and factory data showed the severity of the collapse in U.S. economic activity caused by the novel coronavirus outbreak.
United cuts May flights by 90%, tells employees to brace for job cuts
(This April 15 story corrects to show flights starting between Buenos Aires and Houston, not Washington, in paragraph 12.)
Stocks slide as dire economic outlook weighs
World stock markets fell on Thursday, while bonds and the dollar held on to hefty gains, after a coronavirus-driven plunge in U.S. retail sales and factory production and increasing gloomy economic outlooks for Asia.
United cuts May schedule by 90%, tells employees to brace for job cuts: memo
United Airlines Holdings Inc told employees on Wednesday that it has cut its flight schedule by 90% in May and possibly June, and to prepare for a smaller airline and workforce starting as early as Oct. 1.
Exclusive: New York taps McKinsey to develop ‘Trump-proof’ economic reopening plan
New York Governor Andrew Cuomo has hired high-powered consultants to develop a science-based plan for the safe economic reopening of the region that can thwart expected pressure from President Donald Trump to move more rapidly, state government sources…
Oil bounces back as rising stockpiles seen pointing to lower output amid coronavirus
Oil rose on Thursday, with U.S. crude rebounding from near-20-year lows in the previous session on hopes that a big build-up in U.S. inventories may mean producers have little option but to deepen output cuts as the coronavirus pandemic ravages demand….
Dollar stands tall as U.S. retail slump fans flight to safety
A flight to safety bid pushed the dollar higher against its peers on Thursday after dire retail and factory data showed the severity of the collapse in U.S. economic activity caused by the novel coronavirus pandemic.
Royal Caribbean sheds 26% of U.S. workforce as coronavirus hits travel
Royal Caribbean Cruises Ltd said on Wednesday it would lay off or furlough about 26% of its workforce in the United States, affecting nearly 1,300 of its more than 5,000 employees in the country, as the coronavirus chokes international travel.
IMF’s Georgieva wants to triple concessional financing for poor countries
The International Monetary Fund is looking to triple its concessional financing for the poorest countries to over $18 billion to help them respond to the novel coronavirus pandemic, Managing Director Kristalina Georgieva said on Wednesday.
Samsung to tap Xilinx chips for 5G network equipment
American semiconductor firm Xilinx Inc said on Wednesday it had won a deal to supply chips to Samsung Electronics Co Ltd for 5G networking equipment.
