 | | | | Global stocks rallied on Friday on President Donald Trump's plans to revive the coronavirus-hit U.S. economy and a report about a clinical trial for a potential drug to treat COVID-19, while the dollar fell amid investors' growing risk-on sentiment. | | | | | | Gilead Sciences Inc on Friday increased enrollment target by 3,600 for a trial testing its experimental drug, remdesivir, in severe COVID-19 patients, a day after a media report said the drug was showing promise. | | | | | | Ford Motor Co on Friday raised $8 billion from corporate debt investors to shore up its cash reserves as the coronavirus outbreak pummeled vehicle sales and production, resulting in an estimated loss of about $2 billion for the first quarter. | | | | | | AMC Entertainment Holdings Inc, the world's largest movie theater operator, said on Friday it has enough cash to withstand a global suspension of operations until a possible partial reopening of its locations in July. | | | | | | U.S. stocks rose on Friday and posted gains for the week, helped by a surge in Boeing shares, President Donald Trump's plan to reopen the coronavirus-battered economy and hopes of a potential drug by Gilead to treat COVID-19. | | | | | | U.S. airlines are estimated to be sitting on more than $10 billion in travel vouchers that should have been cash refunds from canceled flights, a group of senators released on Friday. | | | | | | Boeing Co said on Friday it would resume operations at production facilities in Philadelphia next week after a two week suspension due to the spread of the coronavirus. | | | | | | Oil prices were mixed on Friday, with weak Chinese economic figures and rapidly filling U.S. crude storage offsetting bullishness built on U.S. President Donald Trump's outlines for the U.S. economy to emerge from the coronavirus shutdown. | | | | | | Retailers, restaurants and hotels -- whose low-paid workers are among the hardest hit in the coronavirus pandemic -- got a combined 18% of the $342 billion allocated under a new federal government program to help small firms keep paying their employees during widespread shutdowns, data from the agency running the program showed on Friday. | | | | | | Occidental Petroleum shareholders next month will get their first say on the oil company's troubled acquisition of Anadarko Petroleum when they vote on issuing shares and warrants to Berkshire Hathaway for helping finance the $38 billion deal. | | | | | | Numerous U.S. and Canadian oil companies have said they are reducing output in 2020, but a Reuters analysis of the announcements so far show that just three companies - Chevron Corp , ConocoPhillips and Occidental Petroleum Corp - account for more than half of the cuts. | | | | | |
