Abercrombie, Gap prepare to reopen stores as lockdowns ease
Abercrombie & Fitch Co and cash-strapped Gap Inc on Wednesday laid out plans to reopen stores in areas where lockdown curbs have eased, while also introducing social-distancing measures.
Abercrombie & Fitch Co and cash-strapped Gap Inc on Wednesday laid out plans to reopen stores in areas where lockdown curbs have eased, while also introducing social-distancing measures.
The coronavirus pandemic brought the U.S. auto industry to its knees, but Americans' love affair with beefy pickup trucks is helping the Detroit automakers get on the road to recovery.
The benchmark S&P 500 rose modestly on Wednesday, with gains in technology shares offsetting declines in financials and defensive groups as data showing U.S. private employers laid off 20 million workers in April underscored the economic fallout of the coronavirus outbreak.
With temperature scanners on the door and tables partitioned by plexiglass shields in the breakout area, workers at one of Renault's French plants are adjusting to new routines as carmakers try to cope with the coronavirus crisis.
Insolvent or overly leveraged firms, including oil drillers and oil services firms, won't be able to tap the U.S. central bank's "Main Street" emergency lending program, Dallas Federal Reserve President Robert Kaplan said on Wednesday.
Big gains in small caps stocks are fueling hopes that a bounce in broader equity markets may stick, as investors ponder how quickly the U.S. economy can emerge from its coronavirus-fueled slowdown.
Oil prices slid and world equity markets seesawed on Wednesday as investor hopes for a pickup in business activity were dashed by downbeat economic data and a rise in U.S. crude stockpiles to three-year highs that highlighted low fuel demand.
The S&P 500 and the Dow fell on Wednesday as declines in financials and defensive groups countered gains in tech shares and as data showed U.S. private employers laid off 20 million workers in April, underscoring the economic fallout of the coronavirus outbreak.
The U.S. Department of Commerce is close to signing off on a new rule that would allow U.S. companies to work with China's Huawei Technologies on setting standards for next generation 5G networks, people familiar with the matter said.
Lyft Inc on Wednesday surprised investors with higher-than-expected revenue and the ride-hailing company vowed further cost cuts to become profitable as the U.S. coronavirus lockdown batters the economy.
T-Mobile US Inc added more monthly bill paying phone subscribers than expected in the first quarter, thanks to cheaper plans compared to its rivals and a surge in demand for phone services as people work from home amid lockdowns.
Fox Corp beat Wall Street estimates for third-quarter revenue and profit on Wednesday as Super Bowl broadcast boosted television viewership, sending the company's shares up more than 2% in extended trading.
With many Americans still counting the days until they get their $1,200 checks, some are in for a surprise. If you're American, but your spouse is not, you may not be qualified. Now, some groups are suing the government over the issue.
Payment processor Paypal Holdings Inc reported an 87.4% slump in first-quarter profit on Wednesday, as consumers spent less due to the COVID-19 lockdowns and unemployment numbers surged.
The New York Times Co crossed five million digital subscribers, adding a record number and withstanding a heavy drop in ad revenue in the first quarter that was dominated by heavy news coverage around the COVID-19 pandemic.