The U.S. economy ended its longest expansion in history in February and entered recession as a result of the coronavirus pandemic, the private economics research group that acts as the arbiter for determining U.S. business cycles said on Monday.
A merger between AstraZeneca and Gilead Sciences Inc is unlikely due to significant political hurdles, Wall Street analysts said on Monday after a Bloomberg report that the British drugmaker last month had contacted its U.S. rival about a deal.
Wall Street's main indexes rose on Monday, building on last week's sharp gains after a surprisingly upbeat jobs report raised bets of a swift recovery from a coronavirus-driven downturn.
More relief is around the corner for small-business owners. Partial forgiveness is in play for people who used less than 60% of their Paycheck Protection Program loan to cover payroll expenses, according to the Treasury Department and Small Business Administration..
The Nasdaq Composite Index rose to a new high on Monday, and looks on track to confirm that it was the first of Wall Street's main indexes to enter a bull market two and a half months ago, after Wall Street's nosedive on worries about the novel coronavirus.
California-based power provider PG&E Corp said on Monday it plans to raise $5.75 billion from public offerings as it tries to emerge from Chapter 11 bankruptcy by the end of this month.
Volkswagen on Monday replaced Herbert Diess as chief executive of the VW brand and installed chief operating officer Ralf Brandstaetter to lead cost cutting efforts at the company's largest plants in Germany.
A South Korean court on Tuesday denied an arrest warrant request for Samsung Group heir Jay Y. Lee after prosecutors accused him of accounting fraud and stock manipulation.
Volkswagen said Stefan Sommer, group board member for procurement and components, will leave the company on June 30, 2020 as part of a broader management reshuffle.
The U.S. economy ended its longest expansion in history in February and entered recession as a result of the coronavirus pandemic, the private economics research group that acts as the arbiter for determining U.S. business cycles said on Monday.
U.S. stocks rose on Monday, with the Nasdaq hitting a record high for the second straight session, after a surprisingly upbeat jobs report last week raised bets of a swift recovery from a coronavirus-driven downturn.
Austria is granting Lufthansa's Austrian Airlines unit a 450 million euro ($508 million) bailout that will protect Vienna as a transit hub and safeguard "the bulk" of the flag carrier's 7,000 jobs, the government said on Monday.
AstraZeneca Plc has approached rival drugmaker Gilead Sciences Inc about a potential merger, Bloomberg News reported on Sunday, citing people familiar with the matter.
Russia's largest oil producer Rosneft said on Sunday it planned to maintain a dividend policy of paying out half of its net profit despite the state lowering its stake in the company to below 50%.
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.