Tue, Apr 7, 2020
4:01 pmJobless Americans to see extra payments as soon as this week
Americans who have lost their jobs due to the new coronavirus will start getting enhanced jobless benefits as soon as this week as states deploy hundreds of billions of dollars in federal aid, state officials said on Tuesday.
3:57 pmTrump administration seeks $250 billion more in aid for small U.S. businesses: Mnuchin
The Trump administration on Tuesday asked Congress for an additional $250 billion in emergency economic aid for small U.S. businesses reeling from the coronavirus pandemic, as Senate Majority Leader Mitch McConnell pushed for passage as soon as Thursday.
3:56 pmHopes of progress against virus lift stocks; dollar falls
World stock markets posted sharp gains on Tuesday as signs of progress in curbing the spread of the novel coronavirus in both Europe and the United States fueled investors' appetite for risk.
3:48 pmNetflix rolls out more features for parental control globally
Netflix Inc on Tuesday rolled out a number of features for parental control on its streaming platform, including options to filter out select titles and review what children are watching.
3:41 pmUnited Airlines drastically cuts California flights to match demand
United Airlines Holdings Inc said on Tuesday it was temporarily, but significantly, reducing daily flying in and out of Los Angeles and San Francisco airports to better match demand that has dropped due to the new coronavirus.
3:26 pmU.S. economy will eventually reopen but with big changes: Kudlow
The Trump administration is aiming to reopen the U.S. economy when the nation's top health experts give the go-ahead, but Americans' lives will be drastically different, White House economic adviser Larry Kudlow said on Tuesday.
3:26 pmGoldman Sachs must face class action over conflicts of interest, risky mortgages
Goldman Sachs Group Inc must face a shareholder class action accusing the bank of hiding conflicts of interest, including behind-the-scenes dealings with a prominent hedge fund manager, when creating risky subprime securities before the 2008 financial crisis.
3:23 pmFormer Fed chief Bernanke sees bad year, no quick recovery
The U.S. economy could shrink 30% or more this quarter as stay-at-home orders aimed at slowing the coronavirus outbreak choke off business, and it could be a couple years before the economy regains its footing, former Federal Reserve Chair Ben Bernanke said on Tuesday.
3:13 pmFacebook launches new chat app for couples
Facebook Inc on Tuesday launched a new messaging app for couples called "Tuned" that allows them to chat, share photos and music as well as have a timeline of shared memories.
3:12 pmU.S. SEC's Clayton says companies seeking bailouts must disclose plans, communicate with investors
The head of the U.S. Securities and Exchange Commission (SEC) said on Tuesday that companies in discussions about bailouts resulting from the economic impact of the coronavirus outbreak should disclose to investors where they stand.
3:10 pmWeWork sues SoftBank after $3-billion tender offer falls through
WeWork's owner, The We Company, has sued SoftBank Group, challenging its largest shareholder's decision to terminate a $3 billion tender offer for shares in the office-space sharing firm.
3:08 pmU.S. treasury secretary to seek additional $250 billion for small business
U.S. Treasury Secretary Steven Mnuchin said on Tuesday that he would seek an additional $250 billion to support small businesses hurt by the widespread economic slowdown.
3:07 pmExxon lops 30% off 2020 spending, deeper and later than rivals
Exxon Mobil Corp on Tuesday throttled back investment in shale, natural gas and deep water production, cutting planned capital spending by 30% this year as the coronavirus pandemic saps energy demand and oil prices tumble.
3:07 pmExxon could delay third Guyana project as government review drags on
Exxon Mobil Corp said on Tuesday that production at the Payara project, its third development in Guyana, could be delayed due to delays in government approvals as the company scales back spending elsewhere due to the crude price crash.
3:01 pmWall Street gains on hopes of coronavirus slowdown
Wall Street rose on Tuesday on early signs of the coronavirus outbreak plateauing in some of the biggest U.S. hot spots, with the New York governor saying social distancing measures to curtail the spread of the virus were working.
3:00 pmOil dips on doubts over output cuts, crude glut woes
Oil edged lower on Tuesday on uncertainty over whether the world's biggest producers would agree to cut output in the face of a swelling crude oil glut as fuel demand has been hammered during the coronavirus pandemic.
2:59 pmMillions of aviation jobs at risk, airlines can't afford refunds: IATA
Global airlines warned that 25 million jobs across the world could be at risk from the coronavirus travel downturn and the industry's representative body said airline finances were so fragile they could not afford to refund customers.
2:56 pmTJX to furlough most of about 286,000 staff as stores stay shut amid pandemic
Off-price retailer TJX Companies Inc said on Tuesday it would furlough most of the employees at its stores and distribution centers, as outlets remain closed to curb the spread of the coronavirus.
2:38 pmLayoffs, closures to wipe out 6.7% of working hours worldwide in second quarter: ILO
Workplace disruptions caused by the COVID-19 pandemic are expected to wipe out labor equivalent to the effort of 195 million full-time workers, or 6.7% of hours clocked worldwide, in the second quarter of this year, the International Labour Organization (ILO) said on Tuesday.
2:36 pmColombian businesses call for more aid after quarantine extension
Colombian businesses on Tuesday called on the government to expand measures to help companies weather coronavirus, after President Ivan Duque extended a nationwide lockdown by two weeks.
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