(Reuters) – Macy’s Inc said on Monday it raised a total of $4.5 billion, including $3.15 billion in new borrowings against its real estate assets, as the department store chain tries to navigate through the fallout from the COVID-19 pandemic. Shares of the company, which also owns Bloomingdale’s, surged about 11% after the bell. “The […]
(Reuters) – U.S. stock index futures rose on Monday as a surprisingly upbeat jobs report last week added to optimism that the world’s biggest economy has weathered the worst fallout of the coronavirus outbreak. Leading the gainers premarket were shares of companies hammered by the pandemic such as cruise line operators and airlines. Carnival Corp […]
LONDON (Reuters) – The coronavirus pandemic has had a devastating impact on companies around the world, but in poorer emerging economies where balance sheets and credit ratings were already weak, the damage is looking particularly widespread. Of the almost 1,800 rating cuts or downgrade warnings S&P Global has made since the virus exploded, 420 have […]
DUBAI (Reuters) – Gulf carriers Emirates and Etihad Airways are extending the period of reduced pay for their staff until September as they try to preserve cash during the global coronavirus pandemic. The aviation industry has been among the worst hit by the outbreak, which has dented travel demand and forced major airlines to lay […]
NEW YORK (Reuters) – An unexpected jump in U.S. employment sent world equities and oil surging on hopes that the global economy has started to recover from the coronavirus pandemic, pulling investors out of perceived safe havens like government bonds and gold. U.S. nonfarm payrolls rose by 2.509 million jobs last month after a record […]
FRANKFURT (Reuters) – An asset quality review and a stress test on subsidiaries of UBS (UBSG.S) and Bank of America (BAC.N) revealed no capital shortfall, the European Central Bank said on Friday, clearing a hurdle for the banks to relocate activities to Europe from Britain. UBS Europe SE and Bank of America Merrill Lynch International […]
OTTAWA (Reuters) – Canada unexpectedly gained 289,600 jobs in May even as the jobless rate hit a record high at 13.7%, data showed on Friday, buoyed by the loosening of stay-at-home restrictions in certain parts of the country. The job gains were far better than expected. Analysts in a Reuters poll had predicted a loss […]
HAMBURG (Reuters) – Volkswagen (VOWG_p.DE) has completed an internal report into how it came to publish a racist advert, the German carmaker said on Friday, adding that its findings will be released once its management board has reviewed the matter. Volkswagen’s management board, headed by Chief Executive Herbert Diess meets regularly on Tuesdays. In the […]
WASHINGTON (Reuters) – The U.S. economy unexpectedly added jobs in May after suffering record losses in the prior month, offering the clearest signal yet that the downturn triggered by the COVID-19 pandemic was probably over, though the road to recovery could be long. The Labor Department’s closely watched employment report on Friday also showed the […]
(Reuters) – The S&P 500 and Dow Jones indexes were set to jump at the open on Friday after a closely watched report showed a surprise drop in the U.S. unemployment rate, lending weight to hopes of a faster economic rebound from a coronavirus-driven slump. The unemployment rate unexpectedly fell to 13.3% in May from […]