Nordstrom Inc reported a bigger-than-expected loss and a 53 per cent fall in sales on Tuesday (Aug 25), as its stores were shut for about half of the reported quarter due to the COVID-19 pandemic.
US consumer confidence fell for second straight month in August as households worried about the economic outlook.
General Motors Co and Ford Motor Co said on Tuesday they are close to completing production of ventilators ordered by the Trump Administration this spring in response to the surge in coronavirus cases, and are ramping down or exiting the operations.
U.S. luxury homebuilder Toll Brothers Inc reported a 21.6per cent fall in third-quarter profit on Tuesday, as coronavirus-led lockdowns hurt home prices.
Nordstrom Inc reported a 53per cent fall in quarterly sales on Tuesday, as its stores were temporarily shut for about half of the reported quarter due to the COVID-19 pandemic.
A contentious new fee on mortgage refinancings for roughly half of the U.S. housing market has been delayed until Dec. 1, according to the regulator overseeing mortgage giants Fannie Mae and Freddie Mac.
Senate Democrats on Tuesday (Aug 25) unveiled a plan to tackle climate change that calls for the US government to spend more than US$400 billion a year to eliminate greenhouse gas emissions by 2050.
Oil producers cut 1.56 million barrels per day, or 84per cent of the daily output, from U.S. offshore Gulf of Mexico wells ahead of a hurricane due this week, the Department of the Interior reported on Tuesday.
American Airlines said on Tuesday its workforce will shrink by 40,000, including 19,000 involuntary cuts, in October as the COVID-19 pandemic continues to weigh on air travel, unless the government extends aid for airline employee payrolls.
REUTERS: J.Crew Group Inc said on Tuesday it expects to emerge from Chapter 11 in early September, after a bankruptcy court accepted is restructuring plan. The plan, approved by a Virginia federal court, will equitize over US$1.6 billion of secured debt, and provide for US$400 million in asset ......
