Global shares fall, weighed down by cheap oil and economic warnings
Global stocks fell on Wednesday as oil prices dropped and warnings of the worst global recession since the 1930s underscored the economic damage done by the coronavirus pandemic.
Global stocks fell on Wednesday as oil prices dropped and warnings of the worst global recession since the 1930s underscored the economic damage done by the coronavirus pandemic.
Toshiba Corp on Wednesday said it will temporarily close factories and offices in Japan from May 6 to May 15, allowing as many as 76,000 to stay at home as the coronavirus spreads, Kyodo newswire reported.
Goldman Sachs Group Inc reported a 49% drop in quarterly profit on Wednesday, as it set aside significantly higher provisions related to corporate loans due to the impact of COVID-19 and booked heavy losses on its debt and equity investments.
Uber Technologies Inc on Wednesday said customers in New York City and the Miami area could now order restaurant meal deliveries over the phone, instead of through its app, as it aims to expand its service to older Americans.
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New data shows the government's stimulus checks are providing much-needed relief to Americans struggling with day-to-day living costs.
"You don't want to say, 'Hey look I'm doing OK,' while there's 17 million people have been unemployed in the last three weeks," economist Mohamed El-Erian told CNBC.
The Wall Street bank benefited from greater turmoil and activity in markets in the quarter.
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U.S. companies are grappling with how best to provide guidance on their earnings outlook as the novel coronavirus takes uncertainty to new heights and exposes them to potential shareholder lawsuits if forecasts prove misplaced.
An Apple collaboration with Google will make it quicker to get systems for tracing coronavirus infections up and running, the prime mover behind a European effort to support the smartphone technology says.
U.S. stock index futures retreated on Wednesday for a second time this week, as a slide in oil prices pressured energy stocks ahead of what is expected to be another dismal round of first-quarter earnings reports.
Top executives and board members at commercial vehicle maker CNH Industrial will take voluntary pay cuts in an act of solidarity with the group's workforce during the coronavirus crisis, the Italian-American company said on Wednesday.
The barrage of bad economic news surrounding the coronavirus pandemic can trigger an emotional response, or "amygdala hijack," in investors' brains that can cloud judgment. Here's how to combat the panic and ensure sound financial decision-making.
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