Reuters: Business News
- Exclusive: Amazon entices warehouse employees to grocery unit with higher pay March 28, 2020Amazon.com Inc is offering higher pay to recruit its own warehouse employees to pick and pack Whole Foods groceries amid rising demand and a worker shortage, according to an internal document reviewed by Reuters.
- As virus threatens, U.S. embraces big government, for now March 28, 2020It may, as House Majority Leader and Maryland Democrat Steny Hoyer said on Friday, be out of love that the United States agreed to shut down much of its economy to stop a viral epidemic and save lives.
- Condom shortage looms after coronavirus lockdown shuts world's top producer March 28, 2020A global shortage of condoms is looming, the world's biggest producer said, after a coronavirus lockdown forced it to shut down production.
- Factbox: Carmakers churn out machines, masks to help fight coronavirus March 28, 2020Auto companies and suppliers around the world are ramping up production of critical healthcare products and machines - everything from cloth face masks to sophisticated ventilator systems - to meet a critical shortage of those items at hospitals and care facilities in North America, Europe and Asia.
- Trump tells GM: Stop 'wasting time', build ventilators to address coronavirus March 28, 2020U.S. President Donald Trump on Friday invoked emergency powers to require General Motors Co to build much-needed ventilators for coronavirus patients after he accused the largest U.S. automaker of "wasting time" during negotiations.
- GM reaches settlement over lost vehicle value from defective ignition switches March 28, 2020General Motors Co has reached a $120 million settlement with owners who claimed that their vehicles lost value because of defective ignition switches, which have been linked to 124 deaths.
- Apple's factories are running, but suppliers wary about iPhone demand March 28, 2020As China reopens its economy after months of lockdown, Apple Inc's iPhone factories are largely up and running. But with the coronavirus pandemic spreading across the world, the urgent question for the company is how many buyers there will be both for current models and the new slate of phones expected in the fall.
- Wall Street Week Ahead: Fund rebalancing could help buoy stock rebound March 28, 2020Money managers rebalancing their portfolios to boost equity exposure into the end of the quarter may support the nascent stock rally that has followed the steep coronavirus-fueled market drop.
- U.S. regulators give banks relief on accounting standard, derivatives rule March 28, 2020U.S. banking regulators told banks Friday they could ignore the capital implications of a new accounting standard for two years and adopt early a new, more sensitive way to measure risk in a bid to ensure banks continue lending through the pandemic.
- Airbnb suspends marketing to save $800 million, top executives take pay cut: source March 27, 2020Airbnb Inc has suspended all its marketing activities to save $800 million this year, and its founders will take no salary for the next six months while top executives will take a 50% cut, according to a person familiar with the matter.
- Treasury: U.S. will be 'compensated' for assistance to airlines March 27, 2020U.S. Treasury Secretary Steve Mnuchin said on Friday that taxpayers will "compensated" for providing up to $25 billion in direct grants to the airline industry.
- Wall Street tumbles as U.S. virus cases pass 100,000 March 27, 2020Wall Street stocks tumbled on Friday, ending a massive three-day surge after doubts about the fate of the U.S. economy resurfaced and the number of coronavirus cases in the country climbed.
- Bipartisan majority of Americans reject Trump idea to reopen by Easter: Reuters/Ipsos poll March 27, 2020A bipartisan majority of Americans appear to reject an idea floated by President Donald Trump to reopen businesses by Easter, according to a Reuters/Ipsos poll, which also showed that nearly one in four have been laid off or furloughed during the coronavirus outbreak.
- U.S. airlines cheer government relief but warn it is no 'cure' for deep industry crisis March 27, 2020United Airlines Holdings Inc and Delta Air Lines welcomed on Friday a $50 billion relief package they said would protect jobs through September but warned that the continued challenges facing the industry will require more action.
- European airlines resist mounting coronavirus refund claims March 27, 2020European airlines waiting in line for coronavirus bailouts want to tap another source of interest-free loans: their customers.
- U.S. airlines expect clarity on terms of payroll grants in 5-10 days: UAL senior executives March 27, 2020U.S. airlines expect to learn the terms of federal aid meant to protect workers' payrolls in the midst of a sharp downturn from the coronavirus in the next five to 10 days, senior executives at United Airlines Holdings Inc said on Friday.
- Fed sets fee structure for BlackRock's role in mortgage bond purchases March 27, 2020BlackRock Inc will earn less than $8 million a year in fees for its role assisting the Federal Reserve with its purchases of commercial mortgage-backed securities, one of the new programs the central bank is rolling out to backstop an economy under threat from the coronavirus outbreak, according to details of the arrangement released on […]
- Stocks down on virus' economic toll; dollar falls further March 27, 2020Stocks across the globe fell on Friday after a historic three-day run-up, as skittish investors kept indices on track for their worst monthly and quarterly performances since 2008, while the dollar fell by the most in any week since 2009.
- Oil plunges posting fifth straight weekly loss despite stimulus efforts March 27, 2020Oil prices plunged 5% on Friday and posted a fifth straight weekly loss as demand destruction caused by the coronavirus outweighed stimulus efforts by policymakers around the world.
- U.S. consumer sentiment near three-and-a-half year low, spending sluggish March 27, 2020U.S. consumer sentiment dropped to near a 3-1/2-year low in March as the coronavirus epidemic upended life for Americans, and consumer spending was sluggish in February, strengthening economists' expectations of a deep recession.