Notwithstanding controversy over a Hong Kong security law and brewing tensions with the US, proceedings at the National People’s Congress and Chinese People’s Political Consultative Conferences clearly signal China’s focus on the economy, says East Asian Institute’s Bert Hofman.
Upscale department store chain Nordstrom Inc on Thursday reported a nearly 40per cent slump in quarterly sales, as lockdowns to contain the COVID-19 pandemic forced it to shut stores.
NEW YORK: Wall Street stocks ended lower on Thursday (May 28) following a late-afternoon retreat on growing US-China tensions, as markets digested more bad economic data following coronavirus shutdowns. The Dow Jones Industrial Average finished at 25,400.64, down 0.58 per cent and ending a three ...
United Parcel Service Inc on May 31 will slap surcharges on U.S. e-commerce companies that have flooded its delivery network with shipments of everything from packaged food to patio furniture since the coronavirus took hold in March.
The top three U.S. airlines, hit hard by the coronavirus pandemic, are rolling out fresh programs to induce tens of thousands of employees to accept voluntary leave or early retirement in the hope of avoiding widespread furloughs in the fall, company memos show.
ViacomCBS Inc is cutting up to 400 employees across CBS as part of its plan to save US$750 million from its merger with CBS, a source familiar with the matter said on Thursday.
The board of Italy's export credit agency SACE has approved state guarantees covering 80per cent of a 6.3 billion euro (US$7 billion) bank loan for Fiat Chrysler , a source close to the matter said on Thursday.
LATAM Airlines Group's U.S. bankruptcy filing this week will delay its potential bailout in Brazil to at least July and also push back aid to its rivals at least through the end of June, two sources said on Thursday.
Warehouse club operator Costco Wholesale Corp reported a 7.3per cent increase in quarterly revenue on Thursday, as people stocked up on essentials before hunkering down in their homes to contain the spread of the coronavirus.
Salesforce.com Inc cut its annual revenue forecast on Thursday, citing the impact caused by the COVID-19 pandemic during first quarter.
