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.
Oil prices rose slightly Thursday as a panel of OPEC and its allies met to review record oil supply cuts, even as the market remained concerned about additional coronavirus cases reported in parts of the United States and China.
Wells Fargo & Co said on Thursday its investment adviser Wells Fargo Investment Institute will sell its feeder fund platform to fintech firm iCapital Network for an undisclosed amount.
Global stocks drifted lower on Thursday as an increase in new coronavirus cases in some U.S. states and China crushed hopes of a swift world economic comeback from the pandemic.
Kroger Co said it expects to exceed its 2020 outlook for same-store sales and profit after beating Wall Street expectations for quarterly results on Thursday, as the U.S. supermarket chain benefited from consumers stocking up on essentials during the coronavirus lockdowns.
A second wave of layoffs amid weak demand and fractured supply chains is keeping new U.S. applications for unemployment benefits elevated, supporting views that the economy faces a long and difficult recovery from the COVID-19 recession.
Wirecard's auditor has refused to sign off its 2019 accounts over a missing $2.1 billion, sending its shares down more than 60% as the German payments firm warned the delay could cause billions in loans to be called in as early as Friday.
The luxury industry will feel the fallout from the coronavirus crisis for the next two years if not longer, Chanel's chief financial officer said on Thursday, warning the French fashion label's 2020 revenues and profit would be significantly hit.
A group of economists has proposed replacing the weekly $600 unemployment enhancement with up to $400 a week and encouraging people to find jobs with payroll subsidies.
Futures tracking the S&P 500 and Dow indexes edged lower on Thursday as caution over an uptick in COVID-19 infections in parts of the United States and China weighed on the mood ahead of a weekly jobless claims report.
Mother's Day during the coronavirus pandemic meant an uptick in sales for Lee's Flower and Card Shop in Washington, D.C.
The U.S. dollar and Japanese yen held their positions on Thursday as concerns about a rise in new coronavirus cases underpinned demand for safe-haven currencies, while the Norwegian crown was a star performer.
Automakers are speeding up U.S. assembly lines to meet recovering demand, increasingly confident coronavirus safety protocols are working to prevent outbreaks in their plants but wary of the challenges workers face outside.
Colgate-Palmolive on Thursday said it was working to review and evolve its Chinese toothpaste brand, Darlie, the latest in a string of brand reassessments amid a U.S. debate on racial inequality.
The U.S. Chamber of Commerce on Thursday underscored the importance of functional U.S.-China ties and urged Beijing to step up its purchases of U.S. goods and services as agreed under a Phase 1 trade deal despite delays caused by the coronavirus.