U.S. manufacturing output posts largest drop since 1946
U.S. manufacturing output dropped by the most in just over 74 years in March as the novel coronavirus pandemic fractured supply chains, suggesting business investment contracted further in the first quarter.
ADCB files criminal complaint against individuals over NMC Health
Abu Dhabi Commercial Bank said on Wednesday it had begun criminal proceedings in Abu Dhabi against an unspecified number of individuals in relation to hospital operator NMC Health , which was placed in administration last week.
UnitedHealth rises on ‘minimal’ COVID-19 impact on results, reiterated outlook
UnitedHealth Group Inc on Wednesday reported a better-than-expected quarterly profit due to strength in the pharmacy benefit business and maintained its forecast for the year, sending the company’s shares up nearly 3% before the bell.
UnitedHealth CEO says most procedures at SCA ambulatory surgery centers postponed
UnitedHealth Group Inc Chief Executive David Wichmann said on Wednesday that a broad hold on elective procedures due to the new coronavirus pandemic has negatively impacted its Surgical Care Affiliates ambulatory surgery centers that provide outpatien…
Deloitte UK joins rivals in cutting pay during pandemic
Global accounting and consulting firm Deloitte is cutting pay for partners at its British arm by a fifth to protect jobs during the coronavirus crisis, mirroring moves at rivals PwC and BDO.
North Korea hacking threatens U.S., other countries, international financial system: U.S. State Department
The U.S. State Department, Treasury, and Department of Homeland Security Issues, along with the FBI, issued an advisory on Wednesday about North Korean cyber threats that called particular attention to banking and finance.
H&M starts protective apron production at supplier
H&M, the world’s second-biggest fashion retailer, said on Wednesday it had started producing protective aprons at a supplier and would deliver one million aprons to the Swedish healthcare system over the coming two weeks.
U.S. retail sales collapse as coronavirus keeps consumers at home
U.S. retail sales suffered a record drop in March as mandatory business closures to control the spread of the novel coronavirus outbreak depressed demand for a range of goods, setting up consumer spending for its worst decline in decades.
Citigroup profit tumbles as loan defaults loom
Citigroup Inc reported a 46% plunge in quarterly profit on Wednesday as the bank set aside nearly $5 billion to prepare for an expected flood of defaults on loans due to a virtual halt in economic activity caused by the coronavirus pandemic.
Goldman’s corporate loans, balance sheet investments eat away at profits
Goldman Sachs Group Inc’s quarterly profit nearly halved, as it set aside more money to cover for corporate loans expected to go bust in the coming months and booked heavy losses on its debt and equity investments.
