Business News

US STOCKS-S&P 500 set to recoup $1 trillion in value as virus deaths slow

Reuters Company News - Mon, 04/06/2020 - 12:23
* Indexes surge: Dow 5.51%, S&P 5.47%, Nasdaq 5.32% (Updates to early morning)
Categories: Business News

UPDATE 2-Brazil's central bank restricts bank dividends, share buybacks

Reuters Company News - Mon, 04/06/2020 - 12:19
Brazil's central bank has barred financial institutions from paying dividends beyond the minimum legal requirement through Sept. 30 and initiating new share buyback programs, in a move to strengthen liquidity amid the coronavirus pandemic.
Categories: Business News

UPDATE 3-Allstate to return $600 mln in auto premiums to customers as pandemic cuts driving

Reuters Company News - Mon, 04/06/2020 - 12:10
U.S. insurer Allstate Corp said on Monday that it would return more than $600 million in auto insurance premiums to customers as many Americans stay home and drive less due to "shelter-in-place" orders to curb the coronavirus outbreak.
Categories: Business News

HBO and AMC Are Offering Free Streams for Folks Stuck Inside

Wired RSS Feed - Mon, 04/06/2020 - 12:03
Coronavirus stay-at-home orders mean a lot of people are indoors watching movies and TV. Now some networks are giving their wares away for free.
Categories: Business News

Peugeot parent secures further 3 billion euros of loans

Reuters Biz News - Mon, 04/06/2020 - 11:59
Peugeot-owner PSA said on Monday it had secured a further 3 billion euros ($3.3 billion) of loans, strengthening its financial position in the wake of the hit to the global automotive industry from the coronavirus crisis.
Categories: Business News

BMW sees demand falling further after first quarter sales plunge due to coronavirus

Reuters Biz News - Mon, 04/06/2020 - 11:57
BMW is expecting a further decline in global demand as the coronavirus outbreak takes its toll, a spokesman said on Monday, after the German carmaker reported a 20.6% drop in first quarter sales to 477,111 vehicles.
Categories: Business News

UPDATE 1-Brazil small business credit lines to run out in two months -Itau CEO

Reuters Company News - Mon, 04/06/2020 - 11:56
Credit lines mainly funded by Brazil's Treasury to finance small business payrolls during the coronavirus outbreak will run out in two months, Itau Unibanco Holding SA Chief Executive Candido Bracher said on Monday.
Categories: Business News

Alaska air carrier RavnAir files for bankruptcy as U.S. Treasury mulls grants

Reuters Biz News - Mon, 04/06/2020 - 11:55
RavnAir Group, the largest regional carrier in Alaska, filed for bankruptcy Sunday and grounded all of its 72 planes as it waits on a decision from U.S. Treasury for government assistance.
Categories: Business News

UPDATE 2-Argentine bonds, shares rise on local-law debt moratorium -traders

Reuters Company News - Mon, 04/06/2020 - 11:50
Argentine bond prices popped higher and country risk spreads tightened on Monday after the government announced a planned moratorium on local debt payments to ease what it has called an unsustainable financial burden.
Categories: Business News

PRECIOUS-Gold jumps 2% as virus-led economic toll fuels stimulus measures

Reuters Company News - Mon, 04/06/2020 - 11:48
Gold prices surged over 2% to a more than three-week high on Monday on expectations of global stimulus measures to counter the economic damage caused by the outbreak of the novel coronavirus. Spot gold was up 1.8% at $1,645.93 per ounce by 11:21 a.m. E
Categories: Business News

Alaska air carrier RavnAir files for bankruptcy as U.S. Treasury mulls grants

Reuters Company News - Mon, 04/06/2020 - 11:46
RavnAir Group, the largest regional carrier in Alaska, filed for bankruptcy Sunday and grounded all of its 72 planes as it waits on a decision from U.S. Treasury for government assistance.
Categories: Business News

Oil falls after Saudi Arabia, Russia delay meeting, Cushing stockpiles soar

Reuters Biz News - Mon, 04/06/2020 - 11:45
Oil prices slumped on Monday, pulling back from last week's gains after Saudi Arabia and Russia delayed a meeting of oil producers aimed at resolving growing worldwide oversupply as the coronavirus pandemic pummels demand.
Categories: Business News

REFILE-IBM taps former Bank of America CTO to oversee cloud business

Reuters Company News - Mon, 04/06/2020 - 11:45
International Business Machines Corp on Monday named former Bank of America Corp top technology executive Howard Boville head of its cloud business, as Arvind Krishna takes over from long-time chief Ginni Rometty.
Categories: Business News

UPDATE 2-Sterling steadies as PM Johnson expected back at his office "shortly"

Reuters Company News - Mon, 04/06/2020 - 11:41
* Graphic: Trade-weighted sterling since Brexit vote http://tmsnrt.rs/2hwV9Hv (Updates prices, adds background and analyst comment)
Categories: Business News

Luckin Coffee chairman defaults on loan, surrenders company shares

Reuters Biz News - Mon, 04/06/2020 - 11:40
Luckin Coffee Chairman Charles Zhengyao Lu and Chief Executive Jenny Zhiya Qian have handed over shares in the embattled Chinese coffee chain to lenders after a company controlled by Lu's family defaulted on a $518 million margin loan, one of the banks said on Monday.
Categories: Business News

Michael Kors owner Capri furloughs all North America store staff

Reuters Biz News - Mon, 04/06/2020 - 11:39
Michael Kors owner Capri Holdings Ltd said on Monday it would furlough all its 7,000 employees in North America amid the coronavirus pandemic, as it expects to open its stores only after June 1.
Categories: Business News

REFILE-Luckin Coffee chairman defaults on loan, surrenders company shares

Reuters Company News - Mon, 04/06/2020 - 11:32
Luckin Coffee Chairman Charles Zhengyao Lu and Chief Executive Jenny Zhiya Qian have handed over shares in the embattled Chinese coffee chain to lenders after a company controlled by Lu's family defaulted on a $518 million margin loan, one of the banks said on Monday.
Categories: Business News

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