NEW YORK: Stocks shot higher on Thursday (Mar 26) as investors brushed aside a record surge in US unemployment benefit claims, instead focusing on progress toward a massive stimulus plan and a pledge by world leaders for a "united front" in the fight against the coronavirus pandemic. Federal ...
The two largest U.S. automakers on Thursday announced measures to shore up their finances as the coronavirus pandemic takes a deep economic bite, with Ford Motor Co aiming to resume production next month of its most profitable vehicles while cutting costs further.
Gap Inc on Thursday withdrew its full-year forecast issued just two weeks ago, suspended its dividend and said it will draw down on its entire US$500 million credit facility as the apparel retailer looks to weather the coronavirus crisis.
BUSINESSES will get a further shot in the arm to ease cash flow pressure amid the Covid-19 pandemic, but some small and medium-sized enterprises (SMEs) remain concerned that they will not get financial support from the banks when they need it most.
AMID broadening concerns over a record surge in the greenback, the Monetary Authority of Singapore (MAS) will move to lend US dollars (USD) obtained from the US Federal Reserve to banks in Singapore via auction allocation. The first auction will be held today.
General Motors Co said Thursday it will extend a shutdown of its North American plants beyond March 30, but added it does not know when it will restart operations.
The U.S. Federal Reserve's balance sheet rocketed past US$5 trillion in assets for the first time this week as it scooped up bonds and extended loans to banks, mutual funds and other central banks in its unprecedented effort to backstop the economy in the face of the global coronavirus...
Morgan Stanley pledged to not cut any jobs this year, according to a memo seen by Reuters, as the Wall Street bank sought to reassure employees worried about their jobs during the coronavirus pandemic.
Home healthcare providers, the lifelines to 12 million vulnerable Americans, are scrambling to decide how to serve patients who show symptoms of coronavirus - and how to ensure that the providers themselves neither catch nor spread it.
Ross Stores Inc said in a letter to vendors on Thursday it would cancel all merchandise purchase orders through June 18 due to the impact the coronavirus has had on its business.
