Ten U.S. states developing ‘reopening’ plans account for 38% of U.S. economy
The ten U.S. states coordinating plans separately from the White House to reopen businesses shut by the coronavirus are responsible for an outsized proportion of the U.S. economy.
Spain seizes virus tests bound for returning Siemens Gamesa workers: union
Spanish authorities have requisitioned 2,000 antibody tests procured by wind turbine maker Siemens Gamesa and intended to check whether employees have been infected with the coronavirus, a labour union spokeswoman said on Tuesday.
Stocks rise on China trade data, easing pandemic fears
World stocks gained on Tuesday after Chinese trade data came in better than expected and some countries tried to restart their economy by partly lifting restrictions aimed at containing the coronavirus outbreak.
JPMorgan profit plunges on coronavirus loan provisions
JPMorgan Chase & Co’s quarterly profit slumped by more than two-thirds as the coronavirus pandemic and record low oil prices forced the largest U.S. bank to boost reserves to protect it from a wave of potential loan defaults.
Pandemic survival plans: U.S. businesses scramble to conserve cash, boost liquidity
Charlie Straface, president of Norwegian aluminum maker Norsk Hydro’s North American extrusion operations, convenes a coronavirus task force every other day to draw up cost-cutting measures to offset declining revenues and protect the unit’s cash balan…
Oil slips as producer cuts fail to banish demand fears
Oil prices edged lower on Tuesday, with investors apparently unconvinced that record supply cuts could soon balance markets pummeled by the coronavirus pandemic, though a predicted plunge in U.S. shale output provided some support.
Amazon fires two employees critical of warehouse working conditions
Amazon.com Inc said on Tuesday it terminated two employees, who criticized the working conditions at the e-commerce giant’s warehouses in the wake of the coronavirus pandemic, for “repeatedly violating internal policies”.
Wizz Air not considering plane deferrals, sees growth returning in 2022: CEO
European low cost airline Wizz Air is not looking to defer any of the Airbus narrowbody planes it has on order even though it does not expect the market to grow again until 2022, its chief executive said.
Johnson & Johnson cuts 2020 profit forecast on coronavirus uncertainty
Johnson & Johnson on Tuesday cut its 2020 adjusted profit forecast, as the coronavirus outbreak causes uncertainty across global markets.
Investors stick to cash amid recession worries: BofA survey
Investors have been hoarding cash at a rate not seen since the immediate aftermath of the attack on the World Trade Center in Sept 2001, BofA’s April fund manager survey showed, as the coronavirus roiled global financial markets.
