Business

FILE PHOTO: The Wall Street sign is pictured at the New York Stock exchange (NYSE) in the Manhattan borough of New York City, New York, U.S., March 9, 2020. REUTERS/Carlo Allegri LONDON (Reuters) – Investors pulled $16.2 billion from stocks in the past week in the largest weekly redemption since the March stock market slump,

(Reuters) – U.S. stocks jumped on Thursday as an upbeat outlook from PayPal and a surprise rise in Chinese exports raised hopes of a faster economic recovery from what is expected to be a deep coronavirus-led recession. FILE PHOTO: The New York Stock Exchange (NYSE) is seen in the financial district of lower Manhattan during

TOKYO (Reuters) – Japan’s Nintendo Co Ltd said on Thursday its fourth-quarter profit soared 200% due to surging demand for its Switch games console, and that title Animal Crossing: New Horizons shifted a record 13.4 million units in its first six weeks. The Kyoto-based gaming company posted operating profit of 89.4 billion yen for January-March,

(Reuters) – T-Mobile US Inc (TMUS.O) added more monthly bill paying phone subscribers than expected in the first quarter, thanks to a surge in demand for cheaper phone services as people work from home amid lockdowns. FILE PHOTO: A T-Mobile logo is seen on the storefront door of a store in Manhattan, New York, U.S.,

(Reuters) – Facebook Inc (FB.O) on Wednesday named the first members of its independent oversight board, which will be able to overturn the company’s decisions on individual pieces of content and recommend policy changes. FILE PHOTO: Pamela Karlan, professor of Public Interest Law and co-director of the Supreme Court Litigation Clinic at Stanford Law School,

(Reuters) – Walt Disney Co. will kick off its strategy next week to begin restoring its lucrative parks business that has suffered $1 billion in lost profits from the coronavirus-led shutdown. FILE PHOTO: People visit Shanghai Disney Resort as part of the three-day Grand Opening events in Shanghai, China, June 15, 2016. REUTERS/Aly Song Disney

(Reuters) – U.S. airlines are collectively burning more than $10 billion in cash a month and averaging fewer than two dozen passengers per domestic flight because of the coronavirus pandemic, industry trade group Airlines for America said in prepared testimony seen by Reuters ahead of a U.S. Senate hearing on Wednesday. FILE PHOTO: Flight attendants

MILAN (Reuters) – Burger King is trialling an app for ordering food and booking a table at its outlets in Italy, as it seeks to persuade locals it is safe to eat out again after more than two months of coronavirus lockdown. FILE PHOTO: An employee delivers an order in Burger King at Apple Green

PARIS (Reuters) – BNP Paribas set aside more than half a billion euros in loan provisions on Tuesday as the coronavirus crisis wiped out the French bank’s revenue from equity derivatives trading and knocked a third off its first quarter profit. FILE PHOTO: The BNP Paribas logo is seen at a branch in Paris, France,

NEW YORK (Reuters) – Apple Inc (AAPL.O) on Monday capitalized on the Federal Reserve’s emergency measures in response to the coronavirus outbreak to issue its cheapest bonds in years, making it the latest blue-chip company to do so to fund stock buybacks and dividends. FILE PHOTO: FILE PHOTO – The Apple Inc. logo is seen

(Reuters) – J. Crew Group Inc filed for bankruptcy protection on Monday with a plan to hand over control to lenders, adding to a list of brick-and-mortar retailers pushed to the brink by widespread store closures in response to the COVID-19 pandemic. FILE PHOTO: A customer walks into a clothing retailer J.Crew store in Manhattan,

FILE PHOTO: A customer walks into a clothing retailer J.Crew store in Manhattan, New York, March 3, 2014. REUTERS/Mike Segar (Reuters) – J. Crew Group Inc filed for bankruptcy protection on Monday, adding to an array of brick-and-mortar retailers pushed to the brink by widespread store closures in response to the coronavirus pandemic. The New

SINGAPORE (Reuters) – The dollar rose, oil fell and stock markets were poised to slip on Monday as rising U.S.-China tensions over the coronavirus – and growing unease at the gulf between asset prices and grim economic reality – turned investors cautious. FILE PHOTO: A man wearing protective face mask, following an outbreak of the

FILE PHOTO: George Washington is seen with printed medical mask on the one Dollar banknotes in this illustration taken, March 31, 2020. REUTERS/Dado Ruvic/Illustration/File Photo (Reuters) – The United States has made over $500 billion in loans to small businesses hit hard by the coronavirus pandemic, and about $145 billion remains in the congressionally approved

(Reuters) – Billionaire investor Warren Buffett on Saturday said the United States’ capacity to withstand crises provides a silver lining as it combats the coronavirus, even as he acknowledged that the global pandemic could significantly damage the economy and his investments. Warren Buffett addresses shareholders at the annual meeting of his Berkshire Hathaway Inc, which

FILE PHOTO: Berkshire Hathaway Chairman Warren Buffett seen at the annual Berkshire shareholder shopping day in Omaha, Nebraska, U.S., May 3, 2019. REUTERS/Scott Morgan/File Photo (Reuters) – Berkshire Hathaway Inc (BRKa.N) has sold its entire stakes in the four largest U.S. airlines, Chairman Warren Buffett said Saturday at the company’s annual meeting. The conglomerate held

(Reuters) – Warren Buffett’s Berkshire Hathaway Inc is being hit hard by the coronavirus pandemic, posting a record quarterly net loss of nearly $50 billion on Saturday and saying performance is suffering in several major operating businesses. FILE PHOTO: Warren Buffett, CEO of Berkshire Hathaway Inc, pauses while playing bridge as part of the company

FILE PHOTO: A view of Tesla Inc’s U.S. vehicle factory in Fremont, California, U.S., March 18, 2020. REUTERS/Shannon Stapleton/File Photo (Reuters) – Tesla Inc (TSLA.O) told furloughed employees on Friday that they will remain out of work for at least another week, postponing a plan to resume normal operations on May 4 at its San

NEW YORK (Reuters) – A bounce in stocks is likely to face a test in the coming weeks as investors try to gauge whether countries and U.S. states emerging from lockdowns can arrest a sharp fall in economic growth without provoking a resurgence of coronavirus cases. FILE PHOTO: The New York Stock Exchange (NYSE) is

FILE PHOTO: SpaceX owner and Tesla CEO Elon Musk arrives on the red carpet for the automobile awards “Das Goldene Lenkrad” (The golden steering wheel) given by a German newspaper in Berlin, Germany, November 12, 2019. REUTERS/Hannibal Hanschke (Reuters) – Shares of Tesla Inc tumbled 12% on Friday following a tweet from Chief Executive Elon

SYDNEY/MONTREAL/SEOUL (Reuters) – Mark, 34, quit his job as a town planner in London last year to start flight-training school, buoyed by a conditional offer of employment with budget carrier easyJet (EZJ.L) at a time when the airline industry was desperately short of pilots. FILE PHOTO: Delta Airlines planes are loaded and unloaded as travel

(Reuters) – Amazon.com Inc (AMZN.O) on Thursday said it could post its first quarterly loss in five years because it is spending at least $4 billion in response to the coronavirus pandemic, including plans to test its workers for COVID-19, providing staff with protective gear and raising hourly wages. FILE PHOTO: The logo of Amazon

WASHINGTON (Reuters) – The U.S. Federal Reserve on Thursday widened a key program to nurse the “Main Street” economy through the coronavirus pandemic, agreeing to lend to even larger firms, taking on more risk in participation with banks, and hinting at some form of dedicated help for non-profits. FILE PHOTO: The Federal Reserve seal is

FILE PHOTO: Malaysia Airlines planes are pictured at Kuala Lumpur International Airport in Sepang, Malaysia, July 22, 2019. Picture taken July 22, 2019. REUTERS/Lim Huey Teng KUALA LUMPUR (Reuters) – Malaysia Airlines (MAB) is working closely with sole shareholder Khazanah Nasional for financial support needed due to the coronavirus crisis, it said on Thursday. “We

NEW YORK (Reuters) – Asian equity markets were poised to gain on Thursday, tracking Wall Street’s rally after positive trial results of an experimental COVID-19 treatment, a U.S. Federal Reserve pledge to shore up the economy and a jump in oil prices. FILE PHOTO: People wearing protective face masks, following an outbreak of the coronavirus,

WASHINGTON (Reuters) – The U.S. economy contracted in the first quarter at its sharpest pace since the Great Recession as stringent measures to slow the spread of the novel coronavirus almost shut down the country, ending the longest expansion in the nation’s history. FILE PHOTO: People wearing protective masks walk past closed shops on the

FILE PHOTO: Branding signage is seen for WPP Group, the largest global advertising and public relations agency at their offices in London, Britain, July 17, 2019. REUTERS/Toby Melville LONDON (Reuters) – WPP (WPP.L), the world’s biggest advertising company, said net sales fell 3.3% in the first quarter, with the impact of the COVID-19 pandemic dragging

DETROIT (Reuters) – Ford Motor Co (F.N) said on Tuesday its second-quarter loss would more than double to over $5 billion from $2 billion in the first quarter due to the impact of the coronavirus pandemic, but added it had enough money despite the crisis to last the rest of 2020. FILE PHOTO: The Ford

FILE PHOTO: A bridge is decorated with the logo of a Bayer AG, a German pharmaceutical and chemical maker in Wuppertal, Germany August 9, 2019. REUTERS/Wolfgang Rattay FRANKFURT (Reuters) – Bayer (BAYGn.DE) shareholders on Tuesday voted in favour of ratifying the executive board’s business conduct during 2019, following a rebuke a year earlier. At the

FILE PHOTO: A Scandanavian Airlines, known as SAS, Airbus A320-200 airplane takes off from the airport in Palma de Mallorca, Spain, July 29, 2018. Picture taken July 29, 2018. REUTERS/Paul Hanna STOCKHOLM (Reuters) – Scandinavian airline SAS (SAS.ST) said on Tuesday it could reduce its workforce by up to 5,000 full-time positions due to plunging