Britain's Lloyds hit by bad deeds and bad debts

Britain's Lloyds hit by bad deeds and bad debts

Britain's biggest domestic lender Lloyds Banking Group reported a 26% drop in annual profit on Thursday, hit by increasing bad debts and billions of pounds of customer compensation. Julian Satterthwaite reports
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Coronavirus hopes, healthcare sector lift stocks

Coronavirus hopes, healthcare sector lift stocks

Wall Street rallied back Wednesday with healthcare stocks leading the way after Bernie Sanders dropped out of the 2020 race and investors were encouraged by positive statements on the coronavirus outbreak. Conway G. Gittens has the day's wrap up.
Time to buy video conferencing stocks: advisor

Time to buy video conferencing stocks: advisor

Gerber Kawasaki's Ross Gerber recommends buying stocks of video conferencing startups like Slack and Zoom over tech titans Microsoft and Cisco as people stay at home amid the lockdown.
EU ministers fail to agree rescue package

EU ministers fail to agree rescue package

European Union finance ministers have failed to agree on a package to support their crisis-hit economies, and have suspended talks for another day.
GM gets $500 mln ventilator contract

GM gets $500 mln ventilator contract

The United States awarded General Motors a $489 million contract Wednesday to produce ventilators to treat severely sick coronavirus patients.
OPEC may slash oil output, if U.S. plays ball

OPEC may slash oil output, if U.S. plays ball

Oil traders are watching to see if OPEC makes drastic cuts to output at a meeting Thursday, but it may all hang on whether the U.S. plays ball.
Zoom sued over privacy, security flaws

Zoom sued over privacy, security flaws

Zoom Video Communications was slapped with a class action suit by one of its shareholders Tuesday, accusing the video-conferencing app of overstating its privacy standards and failing to disclose that its service was not end-to-end encrypted.
Tesco warns coronavirus costs could top $1 billion

Tesco warns coronavirus costs could top $1 billion

Britain's biggest retailer Tesco has estimated that the lockdown will cost the firm up to 925 million pounds, the equivalent of 1.1 billion U.S. dollars.
Stocks slide as hopes for virus crisis exit fade

Stocks slide as hopes for virus crisis exit fade

Global stocks turned negative again Wednesday as hopes waned for an early end to the global crisis in key markets.
Jack Dorsey pledges $1 bln for virus relief

Jack Dorsey pledges $1 bln for virus relief

CEO of Twitter and payments company Square, Jack Dorsey, said he is moving $1 billion of his equity in Square to fund COVID-19 relief efforts and eventually other causes.
Stocks erase stellar gain to close lower

Stocks erase stellar gain to close lower

The Dow gave up a more than 900-point rally to close the day lower in volatile trade. Conway G. Gittens has the numbers.
A ski town key to COVID-19 antibody testing?

A ski town key to COVID-19 antibody testing?

Tucked away in Colorado is a community of 8,000 that one U.S. biotech company is using as a prototype for coronavirus antibody testing, that could be crucial as the U.S. fights the spread of the contagion. Gavino Garay has more.
Too early to call a bottom: analyst

Too early to call a bottom: analyst

Stocks historically spend some time churning before they mark a bottom, notes DataTrek Research co-founder Nick Colas. The cavalry came early when policymakers approved stimulus measures, but the battle isn't over yet, he adds.
Travel slump could cost 25 million jobs - IATA

Travel slump could cost 25 million jobs - IATA

The global travel slump could cost 25 million jobs worldwide according to air travel industry body IATA.
Walgreens to launch 15 mobile coronavirus testing sites

Walgreens to launch 15 mobile coronavirus testing sites

Walgreens Boots Alliance is launching 15 'drive thru' coronavirus testing sites in the U.S. The tests are able to produce results in a matter of minutes. Conway G. Gittens has the details.
Exxon cuts capital spending by 30%

Exxon cuts capital spending by 30%

Exxon Mobil Corp throttled back a multi-year investment in shale, natural gas and deep water oil production Tuesday. As Fred Katayama reports, the largest U.S. oil producer said it will cut planned capital spending by 30% this year as the coronavirus
Britain's supermarkets fear they'll struggle to meet demand

Britain's supermarkets fear they'll struggle to meet demand

Britain's big supermarkets fear they won't be able to supply the country's 60 million people without longer opening hours or a relaxation of social distancing rules introduced to curb the spread of the coronavirus. Ciara Lee reports
Nigeria seeks billions from lenders for coronavirus fight

Nigeria seeks billions from lenders for coronavirus fight

Nigeria has requested nearly $7 billion for multilateral lenders as Africa's biggest economy, already hit by tumbling oil prices, tries to tackle the impact of the coronavirus epidemic.
Stocks climb again on hopes virus crisis is easing

Stocks climb again on hopes virus crisis is easing

European and Asian stocks climbed again Tuesday on hopes that the virus crisis may have peaked in many key markets.
Samsung Q1 beats estimates; chips likely to prop up virus-hit Q2

Samsung Q1 beats estimates; chips likely to prop up virus-hit Q2

Samsung Electronics said on Tuesday its first-quarter operating profit likely managed to rise slightly from a slump a year earlier, as solid chip sales helped cushion the blow from the coronavirus pandemic to smartphones and TVs. Ciara Lee reports
Streaming service Quibi launches to housebound audiences

Streaming service Quibi launches to housebound audiences

A new streaming service called Quibi launched to housebound audiences on Monday, delivering movies, reality shows and news to mobile devices in chunks of ten minutes or less. Gloria Tso has more.
Food security fears stoked as exporters curb sales

Food security fears stoked as exporters curb sales

Global food security concerns are mounting as some governments contemplate restricting the flow of staple foods with around a fifth of the world’s population under lockdown to fight the widening coronavirus pandemic.
Wall St soars on hopes of slowing coronavirus deaths

Wall St soars on hopes of slowing coronavirus deaths

U.S. stocks rocketed higher on Monday, in the biggest gains in nearly two weeks, after a fall in the daily death toll in New York - the country's biggest coronavirus hot spot - fueled optimism the pandemic is leveling off in major global cities. Conway G.
Monday's big rally is premature: financial advisor

Monday's big rally is premature: financial advisor

FiPlan Partners CEO Greg Powell says despite the big rally in stocks on Monday, equities could still head lower because corporate earnings will be weak as the unemployment spikes.
Zoom shares get whacked over privacy concerns

Zoom shares get whacked over privacy concerns

Shares of video conferencing company Zoom fell Monday and have lost one-third of their value since hitting a record in late March as investors grow weary of security and privacy concerns. Conway G, Gittens has the story.