Business

  • More Than A Century Old Hertz Filed For Bankruptcy
    More_than_a_century_old_hertz_filed_for_bankruptcy 2020-05-23 16:59:28 UTC
    <p>NEW YORK (Reuters) - The more than a century old car rental firm Hertz Global Holdings Inc filed for bankruptcy protection on Friday after its business was decimated during the coronavirus pandemic and talks with creditors failed to result in much needed relief.</p><p>Hertz&rsquo;s board earli...

  • Impasse: No Progress in Brexit Talks
    Impasse-_no_progress_in_brexit_talks 2020-04-28 13:22:21 UTC
    BRUSSELS (Reuters) - Negotiations between the European Union (EU) and ex-member Britain over new trade arrangements from next year are at an impasse due to disagreements and the coronavirus crisis, according to diplomats and officials in the bloc’s hub Brussels. Halted when the epidemic starte...

  • European Carmakers Reopening Plants as COVID-19 Lockdown Eases
    European_carmakers_reopening_plants_as_covid-19_lockdown_eases 2020-04-27 18:58:17 UTC
    FRANKFURT (Reuters) - German carmaking giant Volkswagen resumed production at its biggest factory on Monday as part of a broader industry drive to get back to work in Europe, where the coronavirus pandemic has hammered demand and pushed up inventory levels. Encouraged by a fall in infection ra...

  • COVID-19: U.S. Expects Flood of Business Bankruptcies
    Covid-19-_u.s._expects_flood_of_business_bankruptcies 2020-04-27 01:48:54 UTC
    NEW YORK (AP) — The billions of dollars in coronavirus relief targeted at small businesses may not prevent many of them from ending up in bankruptcy court. Business filings under Chapter 11 of the federal bankruptcy law rose sharply in March, and attorneys who work with struggling companies ar...

  • UK Economy Will Suffer Devastating Consequences of COVID 19
    Uk_economy_will_suffer_devastating_consequences_of_covid_19 2020-04-14 19:37:59 UTC
    LONDON (Reuters) - Britain’s economy could shrink by 13% this year due to the government’s coronavirus shutdown, its deepest recession in three centuries, and public borrowing is set to surge to a post-World War Two high, the country’s budget forecasters said. In the April-June period alone, e...

  • UK to Adapt Apple, Google's Coronavirus Tracking Tool
    Uk_to_adapt_apple__google's_coronavirus_tracking_tool 2020-04-12 07:06:43 UTC
    (Reuters) - The technology arm of the National Health Service has been working on a mobile phone app with Alphabet Inc’s Google and iPhone maker Apple that the government hopes will help in ending the coronavirus lockdown, the Sunday Times newspaper reported. The system will use Bluetooth tec...

  • Silicon Valley: Google, Apple to Create Tracing Tools to Slow Coronavirus Spread
    Silicon_valley-_google__apple_to_create_tracing_tools_to_slow_coronavirus_spread 2020-04-10 18:00:20 UTC
    (Reuters) - Apple Inc (AAPL.O) and Alphabet Inc’s (GOOGL.O) Google said on Friday that they will work together to create contact tracing technology that aims to slow the spread of the coronavirus by allowing users to opt into a system that catalogs other phones they have been near. The two Sil...

  • Trump's Economic Nationalism Will Not Save The US Economy From Collapse
    Trump's_economic_nationalism_will_not_save_the_us_economy_from_collapse 2020-04-09 17:07:02 UTC
    BALTIMORE (AP) — President Donald Trump has been telling voters that the U.S. economy will leap back to life “like a rocket,” stronger than ever after its bout with the coronavirus. But there is a reason economics is called the “dismal science.” There are emerging signs that any recovery will ...

  • “Modern Piracy”: U.S. Snatches Masks Meant for Germany
    %e2%80%9cmodern_piracy%e2%80%9d-_us_snatches_masks_meant_for_germany 2020-04-04 01:17:16 UTC
    PARIS/BERLIN — The global scramble to secure face masks to shield frontline workers from the coronavirus has turned the marketplace into the “Wild West,” with the United States often ready to outbid buyers who have already signed deals, officials from Europe to the Americas say. In France and ...

  • Markets Fall Sharply as Coronavirus Outbreak Worsens
    Markets_fall_sharply_as_coronavirus_outbreak_worsens 2020-04-01 21:41:27 UTC
    <p>NEW YORK (AP) &mdash; Wall Street and markets around the world fell sharply Wednesday as the economic and physical toll caused by the coronavirus outbreak mounts &mdash; and as experts say they still can&rsquo;t predict when it will end.</p><p>The S&amp;P 500 lost 4.4% after the White House sa...

  • IMF: Global Economy Has Entered Recession, Worse Than 2008 Downturn
    Imf-_economy_has_entered_recession__worse_than_2008_downturn 2020-03-27 23:26:50 UTC
    WASHINGTON (AP) — The head of the International Monetary Fund said Friday it is clear that the global economy has now entered a recession that could be as bad or worse than the 2009 downturn. IMF Managing Director Kristalina Georgieva said the 189-nation lending agency was forecasting a recove...

  • 3.3 Million Americans Filed for Unemployment Aid in A Single Week
    3.3_million_americans_filed_for_unemployment_aid_in_a_single_week 2020-03-27 00:45:33 UTC
    WASHINGTON (AP) — Nearly 3.3 million Americans applied for unemployment benefits last week — almost five times the previous record set in 1982 — amid a widespread economic shutdown caused by the coronavirus. The surge in weekly applications was a stunning reflection of the damage the viral out...

  • U.S. Auto Sales Plummet 80 Percent
    U.s._auto_sales_plummet_80_percent 2020-03-26 04:24:17 UTC
    (Reuters) - Vehicle sales in U.S. states that implemented lockdown orders to curb the spread of the coronavirus will drop 80% or more, analysts said on Wednesday. Auto retail sales through the week of March 22 declined 22% nationwide on a yearly basis and as much as 40% in some cities on the ...

  • Asian Markets Opened Sharply Higher
    Asian_markets_opened_sharply_higher 2020-03-25 03:14:56 UTC
    NEW YORK (AP) — Shares opened sharply higher in Asia on Wednesday after the Dow Jones Industrial Average surged to its best day since 1933 with Congress and the White House nearing a deal on injecting nearly $2 trillion of aid into an economy ravaged by the coronavirus. Japan’s Nikkei 225 inde...

  • Dow Ends Week With a 17.3% Loss
    Dow_ends_week_with_a_17.3__loss_ 2020-03-21 00:53:35 UTC
    <p>Wall Street ended the week the same way it began: in full retreat from the coronavirus.</p><p>Stocks fell sharply and the price of oil sank Friday as federal and state governments moved to shut down bigger and bigger swaths of the nation&rsquo;s economy in the hope of limiting the spread of th...

  • Dow Erases All Its Gains Since Trump’s Inauguration
    Dow_erases_all_its_gains_since_trump%e2%80%99s_inauguration 2020-03-18 23:34:43 UTC
    NEW YORK (AP) — Stocks tumbled more than 5% on Wall Street Wednesday, and the Dow erased virtually all its gains since President Donald Trump’s 2017 inauguration. Even prices for investments seen as safe during downturns fell as the coronavirus outbreak chokes the economy and investors rush to ra...

  • Global Stocks Fall Sharply as Virus Cases Spread Around the World
    Global_stocks_fall_sharply_as_virus_cases_spread_around_the_world 2020-03-16 20:33:23 UTC
    NEW YORK (AP) — Stocks fell sharply around the world Monday as the coronavirus forced huge swaths of the economy to the edge of a standstill, from parked airplanes to the nearly empty restaurant around the corner. The Dow industrials took a 2,999-point nosedive on Monday as fears deepen that ...

  • Warm Winter: Germany’s Vineyards Will Produce No Ice Wine
    Warm_winter-_germany%e2%80%99s_vineyards_will_produce_no_ice_wine 2020-03-13 19:45:47 UTC
    <p>FRANKFURT, Germany (AP) &mdash; A warm winter means that, for apparently the first time in the history of German winemaking, the country&rsquo;s fabled vineyards will produce no ice wine &mdash; a pricey, golden nectar made from grapes that have been left to freeze on the vine.&nbsp;</p><p>The...

  • Global Shares Plunge: Worst Day Since '87
    Global_shares_plunge-_worst_day_since_'87 2020-03-13 02:06:33 UTC
    <p>NEW YORK (AP) &mdash; Shares have plunged in Asia, with Japan&rsquo;s benchmark sinking 10% after Wall Street suffered its biggest drop since the Black Monday crash of 1987.&nbsp;</p><p>Markets worldwide have retreated as fears of economic fallout from the coronavirus crisis deepen and the mel...

  • Bear Market: Dow dives more than 1,400 points
    Bear_market-_dow_dives_more_than_1_400_points 2020-03-11 20:19:29 UTC
    <p>NEW YORK (AP) &mdash; Stocks are closing sharply lower on Wall Street, erasing more than 1,400 points from the Dow industrials, as investors wait for a more aggressive response from the U.S. government to economic fallout from the coronavirus. The Dow has now fallen 20% from its recent high, a...

  • Twitter Strikes Deal with Silver Lake, Elliott to keep Jack Dorsey as CEO
    Twitter_strikes_deal_with_silver_lake__elliott_to_keep_jack_dorsey_as_ceo 2020-03-10 20:02:41 UTC
    San Francisco — Twitter says it’s reached an investment deal with Silver Lake and Elliott Management that will keep Jack Dorsey as the social media company’s CEO. Twitter Inc. said Monday that Silver Lake will make a $1 billion investment in the company. That money, along with cash on hand, is...

  • Stocks Rise in Turbulent Trading a Day After Selloff
    Stock 2020-03-10 19:47:33 UTC
    NEW YORK (AP) — Wall Street endured another day of dizzying trading Tuesday, whipping up and down with hopes that the U.S. and other governments will cushion the economy from the pain of the coronavirus. The S&P 500 surged as much as 3.7% in the morning and recouped nearly half its historic dr...

  • You Don't Need a 20% Down Payment to Buy a Home in US
    You_don't_need_a_20__down_payment_to_buy_a_home_in_us 2020-03-10 19:48:35 UTC
    Many Americans may be unnecessarily talking themselves out of homeownership. Thirty-seven percent of non-homeowners say not having enough saved for a down payment is holding them back from homeownership, but 62% of Americans incorrectly believe you have to have at least 20% of a home’s purchase p...

  • Black Monday: Shock To Oil Also Rattled Stock Markets
    Black_monday-_shock_to_oil_also_rattled_stock_markets 2020-03-09 14:09:42 UTC
    NEW YORK (AP) — Fear gripped financial markets around the world Monday as stock prices and bond yields plunge on worries about the effects of a new coronavirus. The most violent drops came from the oil markets, where prices cratered more than 20%. But moves in stocks and bond yields were near...

  • Coronavirus Fuels Dramatic Fall in Oil Price
    Coronavirus_fuels_dramatic_fall_in_oil_price 2020-03-09 01:49:08 UTC
    <p>NEW YORK (AP) &mdash; Oil prices are plunging as a dispute among producers could lead a global economy weakened by COVID-19 to be awash in an oversupply of crude.</p><p>Brent crude, the international standard, lost $9.50, or 20.1%, to $35.77 per barrel, as of 7:58 p.m. Eastern time on Sunday a...