Credit Suisse on Thursday moved to a "small overweight" on global equities, especially developed markets, saying the risk of a "very bad" economic outcome had come down significantly after the massive $2 trillion U.S. stimulus package.
The new chief executive for Norway's $930 billion sovereign wealth fund is Nicolai Tangen, until now chief executive of investment firm AKO Capital, which he established in 2005.
Norway's sovereign wealth fund, the world's largest, has lost 1.33 trillion Norwegian crowns ($124 billion) so far this year as stock markets have plunged due to the coronavirus pandemic, it said on Thursday.
Oil prices fell on Thursday, ending three sessions of gains, as movement restrictions worldwide to contain the coronavirus destroyed demand and overshadowed expectations that a U.S. $2 trillion emergency stimulus will bolster economic activity.
Ackman used his $2 billion in proceeds from his bet against the market to add to stakes including Hilton Worldwide and Lowe's.
General Motors Co and Ford Motor Co have widely touted their commitment to emission-free electric cars, but their production plans show a growing reliance on ever-larger gas-powered vehicles.
Ford Motor Co and General Motors Co , the top two U.S. automakers, have more than two dozen new battery electric vehicles (EVs) in the pipeline, according to their executives and suppliers familiar with the companies' plans.
Drivers around the world want more roomy and powerful cars. Rules made under the administration of President Barack Obama make it easier for U.S. automakers to give customers what they want and to keep expanding the size of their vehicles.
Ford Motor Co said on Thursday it was aiming to restart production at some plants in North America as early as April 6.
The U.S. Senate's unanimous passage of a $2 trillion coronavirus relief bill sent the unprecedented economic legislation to the House of Representatives, whose Democratic leaders hope to pass it on Friday.
U.S. lawmakers are finalizing a sweeping new $2 trillion stimulus bill that includes checks for individual Americans. Here's how much you may expect to receive to help offset the coronvirus's pinch on your wallet.
Drugmaker Mylan NV's merger with Pfizer Inc's off-patent branded drug unit, Upjohn, will now close in the second half of this year, the companies said on Thursday, blaming the coronavirus pandemic for the delay.
Deutsche Bank is laying the groundwork for taking advantage of a government-run short-time work scheme for some of its employees in Germany as it deals with fallout of the coronavirus, a spokeswoman said on Thursday.
The U.S. "may well be in recession" but progress in controlling the spread of the coronavirus will dictate when the economy can fully reopen, Federal Reserve chair Jerome Powell said Thursday in an interview on NBC's Today Show.
European Union lawmakers are expected on Thursday to approve emergency funds to cushion the bloc's economic slump triggered by the coronavirus pandemic and shore up hard-hit airlines by preserving their landing slots.