Thursday 21 May 2020

'I've not yet signed Renault loan', says French finance minister

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'I've not yet signed Renault loan', says French finance minister

France's Finance Minister Bruno Le Maire said he has not signed off on a 5 billion euro ($5.47 billion) state-guaranteed loan to help Renault cope with the fallout from the coronavirus, and that discussions continued.

Wall Street finishes down as U.S.-China tensions heighten trade deal worries

Wall Street ended lower on Thursday, a day after hitting two-month highs, on a fresh wave of China-U.S. tensions that raised doubts about the trade deal reached early this year between the world's two largest economies.

Nvidia forecasts second-quarter revenue above estimates

Nvidia Corp on Thursday forecast second-quarter revenue above analysts' estimates, as demand surges for its chips used in data centers that power the shift to working remotely due to the coronavirus outbreak.

Hewlett Packard to cut costs by $1 billion, reduces CEO pay by 25% on pandemic woes

Hewlett Packard Enterprise on Thursday unveiled a plan to cut costs by at least $1 billion by 2022 and said it would reduce the base salary of its chief executive officer by 25%, in response to the impact of the COVID-19 pandemic.

Trump visits Michigan Ford plant amid political tensions, does not wear mask

President Donald Trump traveled on Thursday to the crucial U.S. election battleground state of Michigan to visit a Ford Motor Co plant amid hostility with its Democratic governor over how quickly to reopen its economy during the coronavirus pandemic, opting not to wear a protective face mask.

Facebook's Zuckerberg embraces remote work outside Silicon Valley

Facebook Inc will permanently embrace remote work even after coronavirus lockdowns ease, Chief Executive Mark Zuckerberg told employees on Thursday, accelerating the tech sector's geographic diversification away from its home in Silicon Valley.

Indiana mattress business adapts to lure customers back

Lauren Taylor is figuring out what's required to run a mattress store in the age of a deadly pandemic.

Stocks slip on U.S.-China tensions; oil rises to 2-1/2-month high

Global equities slid on Thursday on concerns about the long-term impact of the new coronavirus and resurgent U.S.-China tensions, though oil markets ignored those worries and marched to 2-1/2 month highs.

Senators attempt to advance bill lengthening coronavirus business loan terms

Negotiators in the U.S. Senate reached agreement on Thursday on legislation increasing the amount of time, to 16 weeks from the current eight-week deadline, for small businesses to use Paycheck Protection Program loans, according a Senate aide.

Macy's to be 'smaller company' as loss to hit $1 billion in quarter amid lockdowns

Macy's Inc said on Thursday it could rack up operating losses of up to $1.11 billion in the first quarter, as the department store operator was forced to shut stores due to lockdowns aimed at curbing the spread of the new coronavirus.

U.S. secures 300 million doses of potential AstraZeneca COVID-19 vaccine

The United States has secured almost a third of the first one billion doses planned for AstraZeneca's experimental COVID-19 vaccine by pledging up to $1.2 billion, as world powers scramble for medicines to get their economies back to work.

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