Gap sees 2020 profit above estimates, flags $100 mln sales hit from coronavirus
Gap Inc forecast 2020 profit above market expectations on Thursday as it pushes through its restructuring plan, but said it expected an impact of $100 million in first-quarter sales due to the fast-spreading coronavirus in Asia and Europe.
United to scale back flights to Europe after March 19
United Airlines Holdings Inc said on Thursday it will continue to fly its regular schedule from Europe to the United States through March 19 but is scaling back flights after that date.
JetBlue CEO latest airline executive to take salary cut amid coronavirus
JetBlue Airways Chief Executive Robin Hayes is taking a temporary salary cut of 20%, the company said on Thursday, the latest airline executive to reduce or forgo base pay in an effort to rein in costs amid the spreading coronavirus.
Oracle quarterly revenue tops estimates on strong cloud demand
Business software maker Oracle Corp on Thursday reported better-than-expected quarterly revenue as more companies opt for its cloud services and software, sending its shares up 3% in extended trading.
Wall Street’s ‘fear gauge’ marks record surge after stock sell-off
An avalanche of selling in stocks on fears over the coronavirus outbreak took Wall Street’s “fear gauge” to its highest level since the financial crisis on Thursday.
Broadcom withdraws 2020 revenue forecast on coronavirus worries
Broadcom Inc withdrew its revenue forecast for 2020 on Thursday, joining a host of chipmakers that have either cut or pulled their sales outlook due to demand and supply disruptions caused by the coronavirus outbreak.
Trump signs law to prevent U.S. rural telecom carriers from using Huawei network equipment
President Donald Trump signed legislation on Thursday to bar telecom carriers from using U.S. subsidies to purchase network equipment from Huawei Technologies [HWT.UL], ZTE Corp and other companies deemed a national security threat.
Activist investor Icahn raises stake in Occidental to nearly 10%
Billionaire investor Carl Icahn has raised his stake in Occidental Corp to nearly 10% from 2.53% at the end of last year and once again pushed for an overhaul of the oil and gas producer’s board, an SEC filing http://bit.ly/2Qb9byt on Thursday showed….
Emirates freezes recruitment as airline braces for further coronavirus impact
Emirates, one of the world’s biggest international airlines, expects to cancel more flights and has frozen recruitment as it faces what could be its biggest challenge in many years, the coronavirus outbreak, internal emails seen by Reuters showed.
U.S. weekly jobless claims drop, but coronavirus layoffs loom
The number of Americans filing for unemployment benefits unexpectedly fell last week as employers continued to hold on to their workers, but the coronavirus pandemic is expected to lead to an increase in layoffs as companies battle supply chain disrupt…
