The U.S. Justice Department has sent grand jury subpoenas to big banks seeking records as part of a broader investigation into potential abuse of a $660 billion emergency loan program to help small businesses hurt by the novel coronavirus, two people with knowledge of the matter told Reuters.
Amazon.com Inc said on Friday it would make the "appropriate" executive available to the U.S. House of Representatives Judiciary Committee to testify about allegations related to how the company uses third-party sellers' data.
The global novel coronavirus crisis continues to batter the U.S. labor market, with millions more Americans, including white collar workers, expected to have filed for unemployment benefits last week as the hit from the pandemic spills over into a broader swath of the economy.
Italian fashion group Dolce & Gabbana will lose out "a lot" this year, after the coronavirus emergency, founders Domenico Dolce and Stefano Gabbana said on Thursday.
Stock markets fell and bonds were in demand on Thursday as worries grew about a second wave of coronavirus infections and a dour assessment from the head of the U.S. Federal Reserve dashed hopes for a quick economic recovery.
German healthcare and chemicals company Merck KGaA flagged that a slight decline in operating earnings was on the cards this year as the coronavirus pandemic could place a significant burden on the global economy.
A lightning-quick rally in U.S. equities is showing cracks, as investors face mounting evidence that the economy's coronavirus-fueled woes may be far longer-lasting than many had anticipated.
The Federal Reserve's pledged support for exchange-traded funds may not end up costing the central bank much, but will still have the desired effect of keeping the credit market afloat.
Merck KGaA said a slight decline in operating earnings was on the cards this year as the coronavirus pandemic weighs on demand for chemicals in TV screens and is putting couples off seeking the German group's fertility treatments.
A lightning-quick rally in U.S. equities is showing cracks, as investors face mounting evidence that the economy's coronavirus-fueled woes may be far longer-lasting than many had anticipated.
Clariant is scrapping a regular dividend as it hunkers down to survive the COVID-19 crisis, the Swiss specialty chemicals maker said on Thursday, while still planning a special $1 billion payout from asset-sale proceeds, if they go through.
World stock markets fell for a third day running on Thursday after a sobering warning from the World Health Organization that the coronavirus may never go away.
BMW on Thursday said China sales of luxury passenger cars rebounded in April but the German premium car and motorbike manufacturer cautioned that other markets including the United States will be "very slow" to recover from the corona pandemic.
Credit card spending among some of JP Morgan Chase & Co's U.S. customers fell 40% during March and early April compared to last year, as Americans stayed home to protect against the novel coronavirus, according to a new report on Thursday.
U.S. electric vehicle maker Tesla Inc said on Thursday it had started producing Long Range Model 3 vehicles in its Shanghai factory and aimed to deliver them to customers soon.