Luckin Coffee is a painful reminder of 'the extreme fraud risk' of some China-based companies
Accounting woes at Luckin Coffee led to a 75% decline in the Chinese company's stock on Thursday.
Accounting woes at Luckin Coffee led to a 75% decline in the Chinese company's stock on Thursday.
BMW Chief Executive Oliver Zipse said the carmaker is focussing on preserving the health of its balance sheet and workforce which have come under strain during the coronavirus crisis.
Airbus is studying a sharp cut in output of its top-selling A320 plane series in light of industrial and delivery challenges posed by the coronavirus crisis, four people familiar with the matter said.
Family-owned restaurants fear they could be pitted against larger competitors, hotel chains and potentially investment funds in a race starting on Friday for a $349 billion pot of money the U.S. government will offer businesses hard-hit by coronavirus.
U.S. President Donald Trump will meet with oil company executives at the White House on Friday to discuss a historic oil-price slump threatening their businesses, brought on by the coronavirus outbreak and a Saudi-Russia price war.
Britain's economy looks set for a slump that in the short term could be deeper than during the depression of the 1930s, as a survey showed the coronavirus crisis caused a record downturn among services and manufacturing firms in March.
Benchmark Brent crude oil futures rose as high as $33.05 a barrel on Friday on rising hopes of a new global deal to cut global crude supply.
U.S. President Donald Trump is stoking the possibility of Saudi Arabia and Russia negotiating oil output cuts as the coronavirus outbreak hammers demand.
China's securities regulator said on Friday it would investigate claims of fraud at Luckin Coffee Inc and sources said some of the banks involved in the Chinese chain's successful U.S. IPO last year were reviewing their work in the listing.
Here is a timeline of the Nasdaq-listed Luckin Coffee Inc's journey from a hot Chinese start-up to U.S. IPO and now an investigation for alleged fraud.
New York's growing number of COVID-19 cases has temporary hospitals springing up around the city. It's not Central Park's first-ever hospital, though.
As the SBA prepares to start accepting applications for payroll relief loans on Friday, business owners are confused about the program's details.
The program is a crucial component of the $2 trillion stimulus package signed last week by President Trump to cushion disruptions tied to the coronavirus.
Once out of reach for many employees, telework goes mainstream as the coronavirus forces millions to work from home. Will it leave a lasting impact on how work is conducted?
Family-owned restaurants fear they could be pitted against larger competitors, hotel chains and potentially investment funds in a race starting on Friday for a $349 billion pot of money the U.S. government will offer businesses hard-hit by coronavirus.