U.S. stock index futures climbed on Thursday, a day after Wall Street recorded its steepest fall in two weeks on intensifying coronavirus fears, with investors on edge ahead of another expected jump in weekly jobless claims.
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Chris Hurn, founder of Fountainhead Commercial Capital, has received 7,400 small business loan requests in the past two weeks, more than his business has handled in its five years of existence.
Global credit rating agency S&P Global Ratings on Thursday affirmed the United States’ sovereign credit ratings at ‘AA+/A-1+’ with a stable rating outlook, amid the ongoing coronavirus outbreak.
Saudi Arabia supports cooperation between oil producers to stabilize the oil market but Russia’s opposition to a proposal last month to deepen oil supply cuts has caused market turmoil, a senior Gulf source familiar with Saudi thinking told Reuters.
Bed Bath & Beyond Inc
American Airlines Co said on Thursday it is cutting additional flights this summer as travel demand has drastically shrunk amid the coronavirus pandemic.
A full airline industry recovery from the coronavirus looks prolonged at best, analysts said, as new data showed international seat capacity had fallen to 23% of last year’s levels and around half the world’s airplane fleet is in storage.
The Federal Communications Commission on Thursday proposed to fine TracFone Wireless $6 million for allegedly violating its rules governing the subsidy program for telecommunications services for low income users.
U.S. online grocery delivery company Instacart said on Thursday it will distribute free health and safety kits to full-service shoppers, days after its workers went on strike to call attention to safety and wage concerns over the coronavirus crisis.
U.S. crude oil futures opened 5% higher on Thursday, reversing Wednesday’s losses, despite growing concerns about a looming economic depression due to the coronavirus pandemic.
Benchmark U.S. crude fell more than 1% in early trade on Friday, coming off its biggest one-day gain in the previous session after U.S. President Donald Trump said he expected Saudi Arabia and Russia to announce a major oil production cut.
Walt Disney Co said on Thursday it would start furloughs of non-essential employees on April 19, citing the impact of the coronavirus outbreak on its business.
Uber and Lyft drivers are hitting a wall in their efforts to apply for the coronavirus jobless benefits promised by Congress as state agencies say they are not ready to handle a class of workers who are totally new to the U.S. unemployment system.
General Motors Co
Desperate to sell pricey spring looks during the coronavirus lockdown, retailers are turning to social media to show their latest styles in somber, stay-at-home settings.
Less than two months after settling with New York City regulators over paid sick leave, Chipotle Mexican Grill Inc is under pressure for its policies amid the coronavirus pandemic.
Crude oil benchmarks opened the month mixed on Wednesday, following their biggest-ever quarterly and monthly losses, overshadowed by fears of global oversupply as data showed a bigger-than-expected rise in inventories in the United States.
The Federal Reserve’s balance sheet increased to a record $5.86 trillion this week and the central bank reported greater use of some of its newly launched liquidity facilities, all part of its efforts to keep markets functioning smoothly amid heightened volatility related to the coronavirus pandemic.
JPMorgan Chase & Co
The Congressional Budget Office said Thursday that the U.S. economy will shrink by 7 percent in second quarter of this year.
BodySphere, which describes itself as a distributor of medical products needed to combat the coronavirus pandemic, has falsely claimed that it has access to a rapid diagnostic test made by Safecare Biotech in China for sale in the United States, the test manufacturer told Reuters.
The U.S. Air Force has recommended the release of up to $924 million in payments to Boeing that were held back due to flaws in the KC-46 air refueling tanker, according to a memo seen by Reuters and a source familiar with the situation.
U.S. President Donald Trump on Thursday invoked the Defense Production Act to aid companies building ventilators for coronavirus patients to receive the supply of materials they need.
Americans should start receiving direct deposit payments from the U.S. government around April 13 to help them cope with the coronavirus pandemic, but others may have to wait until mid-September to receive paper checks, according to a key congressional committee.
Asian equity markets and crude oil looked set for further losses on Thursday, after a dire warning about the U.S. coronavirus death toll and mounting evidence the fast-spreading disease has sent the world economy hurtling into a deep recession.
The U.S. Securities and Exchange Commission said it needs more time to decide whether to allow a plan by the New York Stock Exchange to offer a new high-speed wireless connection to the exchange that some brokers have blasted as anti-competitive.
The dollar held gains on Thursday as investors rushed to the security of the world’s most liquid currency as the coronavirus pandemic caused massive disruptions to global trade.
U.S. President Donald Trump says he has brokered a deal with Saudi Arabia and Russia that would see sweeping oil output cuts. Riyadh has called for emergency talks, and Moscow has said it no longer plans to hike production in a battle for market share.
EU justice chief Vera Jourova on Thursday criticised U.S. tech giants such as Google and Facebook for making money off coronavirus-related fake news instead of putting in more efforts to stop the deluge.
The coronavirus pandemic may have erased around $64 billion of value from Warren Buffett’s equity portfolio at Berkshire Hathaway Inc
The United States does not know formal details of Saudi Arabian and Russian plans to reduce oil supply yet and will not ask U.S. domestic oil producers to chip in with their own cuts, a senior administration official told Reuters on Thursday.
The U.S. unemployment rate will shoot past 10% in the second quarter and the growth rate of gross domestic product will decline by more than 7% as the coronavirus crisis grips the U.S. economy, according to projections released by the Congressional Budget Office (CBO) on Thursday.
Activist investor Starboard Value is pushing ahead with a proxy contest at GCP Applied Technologies
Keeping workers in their jobs is key to getting the economy out of what is “almost certainly” already a recession as authorities mandate businesses shut and people stay at home to slow the spread of the coronavirus, Minneapolis Federal Reserve Bank President Neel Kashkari said on Thursday.
S&P Global Ratings is reassessing its current sovereign credit rating and outlook on Brazil, whose economic, fiscal and political challenges have grown significantly due to the coronavirus crisis.
Battered S&P 500 stocks may get fresh interest from investors turning to dividends in a world of shrinking bond yields.
The financial industry wants the U.S. Securities and Exchange Commission to hold off on parts of a new rule requiring brokers to disclose potential conflicts of interest, citing disruptions caused by the coronavirus, four people with knowledge of the discussions said.
The Trump administration on Thursday said it was allocating $25 billion in emergency funding grants to public transportation systems to address a massive falloff in demand due to the coronavirus pandemic.
The third-party delivery provider Grubhub Inc
Alphabet Inc’s Google will begin to allow some advertisers to run ads across its platforms that address the coronavirus, news website Axios reported on Thursday, citing an internal memo.
General Electric Co
Shares of Luckin Coffee Inc
The world’s top oil and gas companies are rushing to raise tens of billion of dollars in debt to help them weather one of the worst downturns in the sector’s history while faced with high fixed costs and looming dividend payments.
Ford Motor Co
U.S. President Donald Trump on Thursday said he had spoken to Saudi crown prince Mohammed bin Salman and that he expects Saudi Arabia and Russia to cut oil output by as much as 15 million barrels per day, as the two countries signaled willingness for a deal.
Shares of Walgreens Boots Alliance Inc
Facebook Inc. launched a service in Italy to check the accuracy of information on coronavirus circulating on its messaging platform WhatsApp, the U.S. tech firm said on Thursday.
Twitter took down thousands of accounts linked to Egypt, Honduras, Indonesia, Saudi Arabia and Serbia on Thursday for either taking directions from the governments or promoting pro-government content.