Trump to meet U.S. oil execs dealing with price crisis

Trump to meet U.S. oil execs dealing with price crisis

U.S. President Donald Trump said he has invited U.S. oil executives to the White House to discuss ways to help the industry "ravaged" by slumping energy demand during the coronavirus outbreak and a price war between Saudi Arabia and Russia.
Reuters Business
Wall St. tumbles 4% gripped by virus fears

Wall St. tumbles 4% gripped by virus fears

U.S. stocks lost more than 4 percent on Wednesday after a dire warning on the U.S. death toll from the coronavirus pandemic spooked investors. Conway G. Gittens has the numbers
Reuters Business
When to get back into stocks: wealth manager

When to get back into stocks: wealth manager

Stocks will near a bottom when the U.S. is able to slow the spread of the coronavirus pandemic, providing an opportunity to buy into the market, says Ladenburg Thalmann's Jaime Desmond.
Reuters Business
T-Mobile and Sprint officially complete merger

T-Mobile and Sprint officially complete merger

In a marriage long in the making, T-Mobile and Sprint officially completed their $23 billion merger, creating a wireless combination that's better able to compete in the 5G race. Conway G. Gittens has more.
Reuters Business
Wall Street sinks as coronavirus fear grows

Wall Street sinks as coronavirus fear grows

The Dow Jones tumbled roughly 700 points Wednesday as investors fled to safe-haven assets after new orders for U.S.-made goods plunged to an 11-year low and private payrolls fell for the first time since 2017.
Reuters Business
Carrefour, Uber Eats team up to deliver essentials

Carrefour, Uber Eats team up to deliver essentials

Carrefour and Uber Eats are teaming up to deliver essentials to Parisians under lockdown.
Reuters Business
Wuhan residents shop across barriers as lockdown eases

Wuhan residents shop across barriers as lockdown eases

Residents in China's locked-down city of Wuhan have found a new way to shop while still social distancing. Calling for what they want over large barriers mean they keep well apart, but still get to purchase essentials.
Reuters Business
Market carnage worst since Great Depression

Market carnage worst since Great Depression

Stocks slid again at the start of a new quarter. The carnage of the previous three months was the worst since the Great Depression of the 1930s.
Reuters Business
The race to save America's harvest

The race to save America's harvest

North America's biggest farm suppliers are accelerating their spring schedule in an unprecedented race against the coronavirus that threatens to disrupt planting season.
Reuters Business
Stocks get body-slammed in worst Q1 ever

Stocks get body-slammed in worst Q1 ever

Wall Street suffered its biggest first-quarter plunge in history as worries the coronavirus pandemic could send the global economy into a deep dive took its toll. Conway G. Gittens has the Wall Street recap.
Reuters Business
Everyone home? This stock could benefit: Analyst

Everyone home? This stock could benefit: Analyst

With people staying at home, insurers are seeing fewer fatalities from auto and workplace accidents. That makes the beaten-down shares of insurer CNO attractive, says Catalyst Funds' David Miller.
Reuters Business
Walmart starts temperature checks in safety ramp-up

Walmart starts temperature checks in safety ramp-up

Walmart said on Tuesday it would start taking the temperature of employees as it addresses growing safety concerns among retail workers laboring through the coronavirus outbreak. The move comes as rival Amazon is under fire for its treatment of worke
Reuters Business
Euro zone starts slide down inflation slope as coronavirus lockdowns weigh

Euro zone starts slide down inflation slope as coronavirus lockdowns weigh

Euro zone inflation plunged this month on crashing oil prices, signalling the start of a possible deflationary spiral as government lockdowns in response to the coronavirus trigger a dramatic slowdown in economic activity. Ciara Lee reports
Reuters Business
Huawei warns U.S. that China will strike back

Huawei warns U.S. that China will strike back

Huawei says Beijing will retaliate against new U.S. sanctions on the telecoms gear maker.
Reuters Business
Coronavirus to hammer U.S. auto sales

Coronavirus to hammer U.S. auto sales

U.S. new vehicle sales likely drove off a cliff in March as the coronavirus pandemic pounded consumer confidence and shuttered dealerships across much of the U.S. As Fred Katayama reports, sales could get hammered even harder in April.
Reuters Business
Record sales, restive staff: supermarkets battle virus challenge

Record sales, restive staff: supermarkets battle virus challenge

New data shows UK supermarkets saw record business as shoppers stocked up, but now retailers around the world face unrest from staff concerned about contagion danger.
Reuters Business
Stocks rally after Chinese data boost to close worst quarter since 2008

Stocks rally after Chinese data boost to close worst quarter since 2008

World stocks looked set to close their worst quarter since 2008 on a brighter note on Tuesday, as strong Chinese factory data held out hope for an economic revival even as much of the rest of the world shut down to fight the coronavirus. Ciara Lee re
Reuters Business
Ford, GE to make 50,000 ventilators in 100 days

Ford, GE to make 50,000 ventilators in 100 days

Major automaker Ford is teaming up with General Electric to ramp up ventilator production in the coming weeks as states across the U.S. require more ventilators to keep up with the surge in patients.
Reuters Business
Healthcare stocks leads Wall Street rally

Healthcare stocks leads Wall Street rally

U.S. stocks jumped more than 3 percent on Monday led by healthcare companies at the forefront of the battle against the coronavirus pandemic. Conway G.
Reuters Business
Macy's to furlough nearly 130,000 employees as virus keeps stores shut

Macy's to furlough nearly 130,000 employees as virus keeps stores shut

Macy's said on Monday it would furlough most of its employees starting this week as all stores of the department chain operator stay closed to curb the spread of the coronavirus.
Reuters Business
This is still a bear market - investor

This is still a bear market - investor

Stocks rallied on Monday and have rebounded more than 18 percent from the lows set on March 23rd, but Gerber Kawasaki CEO Ross Gerber says this bear market is not over. He talked with Conway G.
Reuters Business
J&J teams up with U.S. for coronavirus vaccine

J&J teams up with U.S. for coronavirus vaccine

Johnson & Johnson announced it and the U.S. government will invest $1 billion to create enough manufacturing capacity to make more than 1 billion doses of a vaccine it is testing to stop the new coronavirus. Conway G.
Reuters Business
Can 'green stimulus' help corona-stricken economies?

Can 'green stimulus' help corona-stricken economies?

Many countries are having to spend heavily to weather the economic storm, while also facing the challenge of keeping carbon reduction pledges. Could “green stimulus” be the answer? Megan Revell reports.
Reuters Business
Lockdowns shutter Fiat, Renault factories

Lockdowns shutter Fiat, Renault factories

Lockdowns look set to stymie Fiat's plan to resume production, while Renault says all its plants outside China and South Korea are now shut.
Reuters Business
Ivory Coast cocoa industry scrutinized over child labor

Ivory Coast cocoa industry scrutinized over child labor

U.S. customs authorities have asked cocoa traders to report where and when they encounter child labor in their supply chains in the world's top cocoa producer, three industry sources told Reuters.
Reuters Business
Excitement in Wuhan as businesses and shopping malls reopen

Excitement in Wuhan as businesses and shopping malls reopen

Shops and businesses in the Chinese city of Wuhan have reopened, as life after lockdown continues. Ciara Lee reports
Reuters Business
South Africa's rand plunges to all-time low

South Africa's rand plunges to all-time low

After Moody's downgraded South Africa's investment rating to "junk" on Friday, the rand plummets - adding heaping further economic misery on Africa's most advanced economy.
Reuters Business
UK orders 10,000 ventilators from group of firms

UK orders 10,000 ventilators from group of firms

Britain has ordered more than 10,000 ventilators from a consortium of leading aerospace, engineering and Formula One racing companies, with production to begin this week. Ciara Lee reports
Reuters Business
EasyJet grounds fleet, furloughs crew for two months

EasyJet grounds fleet, furloughs crew for two months

British low cost airline easyJet said it had grounded its entire fleet and reached a deal with its cabin crew for employees to be furloughed for two months.
Reuters Business
Markets slide again on fear of long, global lockdown

Markets slide again on fear of long, global lockdown

Stock markets in Europe and Asia fell again Monday on growing fears that the global economy faces a prolonged shutdown.
Reuters Business
Trump extends COVID-19 guidance to April 30

Trump extends COVID-19 guidance to April 30

U.S. President Donald Trump said on Sunday that he will extend the guidelines aimed at slowing the spread of the coronavirus to April 30, from his original target of Easter on April 12. Gavino Garay has more.
Reuters Business
New U.S. company to deliver slimmed-down ventilators

New U.S. company to deliver slimmed-down ventilators

As U.S. demand for ventilators skyrockets during the coronavirus pandemic, smaller medical device makers are simplifying their designs and pushing other work aside to make more of the devices. Gavino Garay has more.
Reuters Business
U.S. company wins approval for rapid-results COVID-19 testing

U.S. company wins approval for rapid-results COVID-19 testing

Abbott Laboratories said on Friday it won U.S. marketing approval for a diagnostic test for the coronavirus that can deliver results to patients within minutes and be used in physicians offices and urgent care clinics, as well as hospitals. Gavino Ga
Reuters Business
Trump signs $2.2 trillion coronavirus aid bill into law

Trump signs $2.2 trillion coronavirus aid bill into law

U.S. President Donald Trump signed into law the largest fiscal relief measure ever passed by Congress on Friday, moments after the U.S. House of Representatives passed the bill, despite calls for a delay from one GOP lawmaker that led to a twitter fe
Reuters Business
Wall Street tumbles as U.S. virus cases climb

Wall Street tumbles as U.S. virus cases climb

Wall Street fell sharply 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.
Reuters Business
Stocks’ drop a "blessing in disguise": advisor

Stocks’ drop a "blessing in disguise": advisor

Payne Capital Management's Christopher Payne says it's a great time for Millennials to invest, especially with stocks paying dividends that are much higher than Treasuries. Get Outlook for iOS
Reuters Business
Consumer sentiment plunges in March

Consumer sentiment plunges in March

U.S. consumer sentiment plunged in March as the global coronavirus pandemic weighed on the outlook for the economy, Fred Katayama reports.
Reuters Business
'We're not alone,' the newly unemployed search for hope

'We're not alone,' the newly unemployed search for hope

A D.C. optician and a Los Angeles performer are both out of work as part of the historic wave of Americans forced into unemployment as the coronavirus pandemic forces businesses to close and half the population to stay indoors. Conway G. Gittens has their stories.
Reuters Business
Germany's Bosch says it has quick coronavirus test

Germany's Bosch says it has quick coronavirus test

Germany's Robert Bosch says it has a quick test system for coronavirus, but some scientists say laboratory testing remains the best option for now.
Reuters Business
Shops, restaurants in Hubei re-open but customers scarce

Shops, restaurants in Hubei re-open but customers scarce

Normal life slowly resumed for some residents in Hubei province on Friday after a lockdown that started in late January was lifted as the numbers of new coronavirus cases fell. Ciara Lee reports
Reuters Business
Singapore Airlines gets $13 billion lifeline

Singapore Airlines gets $13 billion lifeline

Singapore Airlines has secured a $13 billion financing package, the biggest by any carrier since the global pandemic started.
Reuters Business
'I didn't see this coming': SA businesses brace for tough times

'I didn't see this coming': SA businesses brace for tough times

Small business owners like coffee vendor Siyathemba Ralo say they will struggle as a 21-day coronavirus lockdown begins, and don't know how to access promised government measures to mitigate economic damage.
Reuters Business
European shares fall as investors take stock of spreading virus

European shares fall as investors take stock of spreading virus

European stocks fell on Friday, halting their biggest ever three-day rally in a sign investors were focusing once more on the spread of the coronavirus pandemic despite hopes for further stimulus measures to combat its economic impact. Ciara Lee repo
Reuters Business
Singapore Airlines secures $13 bln lifeline

Singapore Airlines secures $13 bln lifeline

Singapore Airlines has secured $13 bin in financial aid, marking the single biggest package agreed by any airline since the pandemic began.
Reuters Business
U.S. firms rush to make virus 'immunity' tests

U.S. firms rush to make virus 'immunity' tests

As the United States works overtime to screen thousands for the novel coronavirus, a new blood test offers the chance to find out who may have immunity - a potential game changer in the battle to contain infections and get the economy back on track.
Reuters Business
Dow's best three days since 1931

Dow's best three days since 1931

The Dow wrapped up its strongest three days in nine decades Thursday as record weekly U.S. jobless claims came in below investors' worst fears and the focus stayed on an unprecedented $2 trillion stimulus awaiting approval by the U.S. House of Repres
Reuters Business
"Sense of certainty" buoying the markets: analyst

"Sense of certainty" buoying the markets: analyst

President Donald Trump's hope to get companies reopened by Easter and the Fed's supportive measures are giving the markets a "sense of certainty," says Manhattan Venture Partners' Santosh Rao.
Reuters Business
Wendy's extends hand to franchisees

Wendy's extends hand to franchisees

Wendy's said Thursday it would defer rent and ease royalty and marketing fee payments for franchisees amid growing pressure in the restaurant industry due to coronavirus-related outlet closures.
Reuters Business