Global stocks tumble, bonds rally on downbeat Fed outlook
Global equity markets fell sharply on Thursday in their worst sell-off since markets crashed in March, while safe-haven assets rose after the Federal Reserve’s sobering outlook cast doubt on hopes for a V-shaped recovery from the coronavirus pandemic.
Nestle explores sale of Pure Life as part of water business review
Food giant Nestle said it is exploring a potential sale of part of its North American water business, including its well-known Pure Life brand, as it moves to focus on the better performing brands in its water division.
Factbox: What changes are companies making in response to George Floyd protests?
The corporate response to a wave of protests over the treatment of African Americans has included pledges to increase diversity, donations to civil rights groups and, in some cases, changes in policies or practices long sought by critics. Here is a sam…
Unilever picks Britain as best option as it ends Anglo-Dutch era
Unilever proposed on Thursday to ditch its dual Anglo-Dutch legal structure and create a single company in Britain to give it more flexibility for mergers and acquisitions as the coronavirus pandemic overwhelms businesses worldwide.
Dow slumps 5% on fears of spurt in virus infections, economic worries
U.S. stocks deepened losses on Thursday, with the Dow on track for its biggest single day percentage fall since March 18, on fears of a resurgence in coronavirus infections and a gloomy economic forecast from the Federal Reserve.
Stock market rally of hope pauses as virus worries mount
The reality that the coronavirus crisis is far from over is threatening a blistering equity market rally that had taken some world indexes to fresh highs.
Oil prices slump as virus-related demand concerns resurface
Oil prices tumbled more than $3 a barrel on Thursday, fuelled by renewed concerns about demand destruction as new cases of coronavirus tick up globally, while crude inventories hit a record in the United States.
Stocks slide, bonds rally on downbeat Fed outlook
The safe-haven Japanese yen and Swiss franc gained on Thursday while a gauge of global equity markets fell the most in seven weeks after the Federal Reserve’s sobering outlook cast doubt on hopes for a V-shaped recovery from the coronavirus pandemic.
U.S. layoffs easing, labor market distress persists
The number of Americans seeking jobless benefits fell last week, but millions laid off because of COVID-19 continue to receive unemployment checks, suggesting the labor market could take years to heal from the pandemic even as hiring resumes.
‘Sold!’ Auctioneers race to unload oil equipment as U.S. drilling dries up
Fast-talking auctioneer Greg Highsmith sung out dozens of prices – “seventy-five-hundred now, $10,000 now, be able to get 15,000?” – before a North Dakotan buyer paid $27,500 for a used Caterpillar oil swabbing rig on Friday.
