AmEx to avoid job cuts as it rides out coronavirus storm
American Express Co will avoid job cuts in 2020 as the credit card issuer “rides out the storm” brought on by the coronavirus pandemic, Chief Executive Officer Steve Squeri said in a video message to employees on LinkedIn.
U.S. markets watchdog Clayton says SEC should not ban short-selling of shares
The head of the U.S. Securities and Exchange Commission said on Monday that it should not ban short-selling of shares, amid speculation on further measures the agency might take to arrest a market rout that stems from fears the coronavirus will spark a…
Explainer: The transatlantic divide on how banks handle coronavirus loans
The United States has given banks a two-year break from provisions for loans soured by the coronavirus pandemic, seeking to keep credit flowing while borrowers struggle to stay afloat as economic activity grinds to a halt.
BP will not cut jobs over next three months: CEO Looney
Oil major BP PLC will not cut jobs over the next three months, Chief Executive Officer Bernard Looney said, even as the company seeks to reduce spending following an oil price crash.
J&J, Moderna sign deals with U.S. to produce possible coronavirus vaccines
The U.S. government has cut deals with Johnson & Johnson and Moderna Inc and said it is in talks with at least two other companies to expand manufacturing capacity within the United States for vaccines to prevent the new coronavirus even before safe and effective ones become available.
Kohl’s extends store closure, draws down $1 billion credit facility amid coronavirus outbreak
Kohl’s Corp said on Monday it would extend the duration of store closure, and fully draw down on its $1 billion revolving credit facility to control damages from the coronavirus pandemic.
Bostic: Fed programs could be broadened if they have missed important parts of economy
As U.S. officials role out trillions of dollars in new economic support, a Federal Reserve policymaker on Monday said focus will now shift to whether those programs prove adequate or need to be expanded even further.
Coronavirus drives U.S. March auto sales off a cliff
U.S. new vehicle sales likely drove off a cliff in March as the coronavirus pandemic pounded consumer confidence and shuttered dealerships across much of the country, and sales are likely to take a further beating in April as social distancing guidelin…
Deaths, intubations swamp New Orleans doctors in coronavirus surge
Emergency room doctor Thomas Krajewski stopped at the hospital room door at 2 a.m. to glance at the chart. He knew instantly the long odds faced by the patient inside: A man in his 70s, with a fever, short of breath.
Spread of coronavirus accelerates in U.S. jails and prisons
Sean Hernandez says he covers his mouth and nose with a t-shirt or towel when he leaves his cell, the only defense he can improvise against the coronavirus outbreak now sweeping through New York’s Rikers Island jail system.
