Swiss food giant Nestle reported its best quarterly sales growth in nearly five years on Friday as consumers stockpiled anything from Purina pet food to Nescafe coffee to frozen meals in preparation for coronavirus lockdowns.
Daniel Duckett, owner of the Lazy Claire patisserie in Belfast, was hoping for an insurance payout of up to 100,000 pounds ($123,460.00) to cover losses during the coronavirus lockdown. Now he fears for the future as he battles for the compensation.
New orders for key U.S.-made capital goods unexpectedly rose in March, but the gains are not likely to be sustainable amid the novel coronavirus outbreak, which has abruptly shut down the country and contributed to a collapse in crude oil prices.
U.S. investment banks are shrinking lending activity in Europe as the pandemic forces them to focus on home, allowing BNP Paribas and other European lenders to fill the gaps and grab market share, sources familiar with the matter told Reuters.
The bill includes $370 billion for small business aid, $75 billion for hospitals and $25 billion for testing during the coronavirus pandemic.
Vacuum cleaner company Dyson said the British government no longer needed the ventilator it had developed from scratch to help plug a shortfall of the devices needed to treat patients with severe COVID-19 symptoms.
Before the coronavirus outbreak shut them down, U.S. auto factories were hectic workplaces where men and women worked side by side along fast-moving assembly lines, ate in crowded break areas, and jostled in and out of gates as they changed shifts.
A $4.2 billion deal for Boeing to buy the civil jetmaking arm of Brazil's Embraer has hit a roadblock over implementation, leaving its fate uncertain unless a breakthrough can be found quickly, people familiar with the talks said.
U.S. President Donald Trump on Friday signed a nearly $500 billon coronavirus relief bill into law to expand loans for small businesses reeling from the outbreak, as his Treasury secretary promised surveillance to stop bigger companies from accessing the funds.
New York Governor Andrew Cuomo said on Thursday that strains of the novel coronavirus that first infected his state's residents came from Europe, not China, and that the ban on travelers from China came too late to halt its spread.
U.S. investment banks are shrinking lending activity in Europe as the coronavirus crisis forces them to retreat home, allowing BNP Paribas and other European lenders to fill the funding gaps and grab market share, seven sources told Reuters.
Veteran John Stankey will take over as AT&T chief executive officer, the company said on Friday, as the U.S. telecommunications and media giant grapples with the impact of the coronavirus outbreak and its late entrance into the global streaming wars.
A fifth coronavirus-response bill will soon be readied, U.S. House of Representatives Speaker Nancy Pelosi said on Friday, as she warned Republicans that it must include new aid to state and local governments.
Atlantia will give about 1,000 euros ($1,080) of shares to each of the 12,000 workers employed by the group's Italian companies, the motorway and airport operator said on Friday.
Oil prices rose on Friday, but both the Brent and U.S. benchmarks were on track for their third straight week of losses as global production shutdowns failed to keep pace with the collapse in demand caused by the coronavirus pandemic.