U.S. supermarket chain Kroger Co stopped short of raising its annual forecasts on Thursday, saying a coronavirus-driven surge in demand for essential goods was fading as American households reconsider what they have on their shelves.
Oil prices were broadly stable on Thursday after dipping in and out of positive territory as bulls took their cue from shrinking U.S. oil product stocks and bears looked at rising crude stocks and new coronavirus cases.
State oil giant Saudi Aramco started laying off hundreds of employees this month, two sources familiar with the matter said, as global energy companies reduce their workforces in response to the coronavirus crisis.
Retail foot traffic recovered to approach pre-lockdown levels last week and businesses appeared to bring more employees back to the job, according to data from firms that collect cellphone location information and manage employee time for companies.
The number of Americans filing for unemployment benefits fell last week, but the pace of decline appears to have stalled amid a second wave of layoffs as companies battle weak demand and fractured supply chains, supporting views that the economy faces a long and difficult recovery from the COVID-19 recession.
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Global stock markets drifted lower on Thursday as an increase in new coronavirus cases in some U.S. states and China crushed hopes of a swift economic comeback from the pandemic, underpinning demand for safe-haven currencies such as the dollar and Japanese yen.
The coronavirus crisis has forced carmakers to speed up layoffs that must be matched with hefty payouts and deft negotiation to retain the support of powerful trade unions vital if Europe's auto industry is to manage a shift to low-emission vehicles.
Markus Duesmann, the head of Audi , will also head the research and development division at German carmaker Volkswagen's premium brand, two sources told Reuters on Thursday.
Many of the health-care workers on the front line of the coronavirus pandemic have another concern: crushing student loan debt.
U.S. stocks fell at the open on Thursday as an uptick in COVID-19 infections in the United States threatened to upend bets of a swift economic recovery, with data showing weekly jobless claims remained elevated amid a second wave of layoffs.
The White House announced on Thursday that President Donald Trump intends to nominate Caroline Crenshaw to fill a Democratic vacancy at the U.S. Securities and Exchange Commission (SEC).
Billions of euros of loans to Wirecard could be called in as early as Friday after the German payments company said its auditor had refused to sign off on its 2019 accounts, knocking more than half the value off its shares on Thursday.
U.S. investors have ramped up investments in growth funds over the past few months on expectations of higher returns and safety, while they dumped value funds despite cheaper prices after this year's pandemic-linked selloff.
Oil prices ticked up on Thursday after U.S. oil product stocks shrank, providing bulls with ammunition ahead of a meeting between OPEC producers and their allies to discuss their future output strategy.