Reuters: Business News
- H&M sees second-quarter loss as pandemic slams sales in March April 3, 2020H&M , the world's second-biggest clothing retailer, said on Friday it expected a loss in the second quarter after reporting a 46% plunge in March sales as the coronavirus pandemic took a toll on the retail sector.
- Sportswear maker Puma proposes suspending dividend due to virus April 3, 2020German sportswear maker Puma proposed on Friday to suspend its 2019 dividend given the impact of the coronavirus pandemic.
- British supermarket Sainsbury's to remove most customer purchasing limits April 3, 2020British supermarket group Sainsbury's said on Friday it would start to remove the customer purchasing limits it imposed to prevent coronavirus stockpiling as customers start to buy just what they need.
- Mnuchin says small business rescue loans launch Friday, despite lender confusion April 3, 2020U.S. Treasury Secretary Steven Mnuchin said he was pressing ahead with the Friday launch of a $349 billion coronavirus rescue loan program for small businesses, after conceding to bank demands to fix aspects of the program that they said could cause participating lenders legal and financial risks.
- Google releases location data to show if coronavirus lockdowns working in 131 countries April 3, 2020Alphabet Inc's Google on Thursday published reports for 131 countries showing whether visits to shops, parks and workplaces dropped in March, when many governments issued stay-at-home orders to rein in the spread of the novel coronavirus.
- Airline industry braces for lengthy recovery from coronavirus crisis April 3, 2020International seat capacity has dropped by almost 80% from a year ago and half the world's airplanes are in storage, new data shows, suggesting the aviation industry may take years to recover from the coronavirus pandemic.
- Oil, shares slip as investors doubtful over Saudi-Russia deal April 3, 2020Oil prices shed some of their massive gains on Friday taking stocks in Asia lower, as doubts grew over an oil price deal between Saudi Arabia and Russia that U.S. President Donald Trump said he had brokered.
- Oil falls on scepticism over Trump's Saudi-Russia output deal April 3, 2020Oil prices fell on Friday, coming off their biggest one-day gains in the previous session, reflecting market scepticism about a deal U.S. President Donald Trump said he had brokered between Saudi Arabia and Russia to cut output.
- Traton sees some order cancellations, can't rule out job cuts: WiWo April 3, 2020Volkswagen's Traton commercial truck unit has seen cancellations of orders due to the coronavirus outbreak but these are manageable, its chief told a German magazine in an article published on Friday.
- Trump touts 'great' Saudi-Russia oil deal to halt price rout, but details unclear April 3, 2020U.S. President Donald Trump said on Thursday he had brokered a deal with top crude producers Russia and Saudi Arabia to cut output and arrest an oil price rout amid the global coronavirus pandemic, though details of how cuts would work were unclear.
- Fed's dilemma: Picking winners for $4 trillion in credit April 3, 2020When the Federal Reserve polled Wall Street about financial stability risks last fall, "global pandemic" didn't make the list.
- Dollar consolidates as hopes for quick recovery evaporate April 3, 2020The dollar edged toward a 2% weekly rise on Friday, boosted by a surge in the oil price and as investors sought safety amid the worsening economic fallout from the coronavirus pandemic.
- Mexico stops brewing Corona beer, deemed non-essential in epidemic April 3, 2020Mexico's Grupo Modelo said on Thursday it will temporarily stop brewing Corona beer and other brands exported to 180 countries after its business activities were declared non-essential under a government order aimed at curbing the spread of the coronavirus.
- Coronavirus likely ended record U.S. job growth in March April 3, 2020The U.S. economy likely shed jobs in March, abruptly ending a historic 113 straight months of employment growth as stringent measures to control the coronavirus pandemic shuttered businesses and factories, confirming a recession is underway.
- When will U.S. economy bottom? Economists hunt for the right view April 3, 2020The economic crisis spawned by the coronavirus pandemic has produced a wave of grim U.S. data, with likely more to come as millions lose jobs, businesses shutter and spending stops.
- Petrobras says talks among Russia, Saudi Arabia, U.S. 'irrelevant' for oil prices April 3, 2020Recent negotiations involving leaders from major oil-producing nations and the United States will prove irrelevant for oil prices, which are low because of depressed demand, the chief executive of Brazil's Petrobras said on Thursday evening.
- Explainer: How the coronavirus crisis is affecting food supply April 3, 2020The coronavirus pandemic has disrupted global food supplies and is causing labour shortages in agriculture worldwide.
- Exclusive: Neiman Marcus advances bankruptcy preparations - sources April 3, 2020Neiman Marcus Group is stepping up preparations to seek bankruptcy protection, after the coronavirus pandemic forced the debt-laden U.S. luxury department store chain to close its stores, people familiar with the matter said on Thursday.
- Trump says 3M 'will have a big price to pay' over face masks April 3, 2020President Donald Trump slammed 3M Co in a tweet late on Thursday after earlier announcing he was invoking the Defense Production Act to get the company to produce face masks.
- Boeing to temporarily suspend Philadelphia area operations amid coronavirus outbreak April 3, 2020Boeing Co said on Thursday it will temporarily suspend production at facilities in Ridley Township, Pennsylvania, amid the ongoing coronavirus pandemic, adding that the suspension will last two weeks, with work to resume on April 20.