General Electric Co's aviation unit will cut its U.S. workforce by about 10%, Chief Executive Officer Larry Culp said in a letter to staff on Monday, as a shattered airline industry sought state support to survive the coronavirus crisis.
Wall Street slipped on Monday as the still rapidly spreading coronavirus forced more U.S. states into lockdown, eclipsing optimism from an unprecedented round of policy easing by the Federal Reserve.
Pacific Gas & Electric has agreed to plead guilty to 84 involuntary manslaughter counts in connection with the 2018 Camp Fire, the most destructive wildfire in California's history.
A product that traders use to profit from surges in volatility has soared as coronavirus fears ravaged stocks, prompting concern about a plunge if the market's wild swings subside.
Fresh support announced by the Federal Reserve failed to lift Wall Street on Monday, after Europe and Asia had both been overwhelmed by the coronavirus pandemic and growing number of national lockdowns that could push the global economy deep into recession.
The S&P 500 opened lower, reversing a brief bounce in U.S. stock futures after the U.S. Federal Reserve on Monday said it would backstop an unprecedented range of credit for households, small businesses and major employers to offset the "tremendous hardship," caused by coronavirus.
A Federal Reserve "Main Street" lending program still under development is meant to dovetail with proposals under consideration by Congress to make sure the full range of U.S. companies, from the smallest to the largest, have access to credit during the coronavirus health scare, the Fed said on Monday.
U.S. corporate credit spreads narrowed on Monday, indicating positive investor sentiment, following the Federal Reserve's announcement that it would backstop an unprecedented range of credit.
Wall Street's slide deepened on Monday as the rapidly spreading coronavirus forced more U.S. states into lockdown, eclipsing optimism from an aggressive policy easing by the Federal Reserve and putting the S&P 500 on pace for its worst month since World War Two.
Oil prices extended their decline on Monday, with record low U.S. gasoline prices leading the energy complex lower, as the coronavirus pandemic crushes demand worldwide after travel and industrial activity contracted across the globe in a bid to stem the spread of the virus.
From emergency loans to deferred payments, credit unions and banks across the country are making accommodations for Americans impacted by COVID-19.
Billionaire investor David Tepper said he is "nibbling" at some stocks, particularly in the tech sector, as the broader market tumbles amid the coronavirus outbreak.
Several Senate Democrats are calling for a $200 per month Social Security benefit boost to help older and disabled beneficiaries cope with higher costs amid the coronavirus. Meanwhile, another proposal to give employers a break on FICA taxes could diminish Social Security's funds. Here's what advocates are watching on Capitol Hill.
The bllionaire hedge fund manager said mass production of ventilators is a key part of ending the lockdown period from the coronavirus crisis.
Consumer advocates and former government officials say the Trump administration must do more to help student loan borrowers during the coronavirus pandemic.