U.S. passenger railroad service Amtrak told Congress in a letter made public Tuesday it needs a further $1.475 billion bailout or it will be forced to make sweeping service cuts and suspend some routes.
Oil prices rose on Tuesday, supported by growing confidence that producers are following through on commitments to cut supplies and as fuel demand picks up with coronavirus restrictions easing.
British retailer John Lewis Partnership said on Tuesday it will re-open its department stores on a "phased basis" after the government said "non-essential" retail could re-open from June 15.
U.S. pharmacy chains are preparing a big push for flu vaccinations when the season kicks off in October, hoping to curb tens of thousands of serious cases that could coincide with a second wave of coronavirus infections.
The coronavirus pandemic has paused the electric vehicle revolution, forcing producers of battery metal lithium into survival mode with output cuts, expansion delays and sales of major assets.
Sales of new U.S. single-family homes unexpectedly rose in April, but the gains are likely temporary as the coronavirus crisis ravages the economy, unleashing record unemployment.
U.S. consumer confidence nudged up in May, suggesting the worst of the novel coronavirus-driven economic slump was probably in the past as the country starts to reopen, but it would probably take a while to fully dig out of the hole amid record unemployment.
Forbes | Randall Lane | May 26, 2020 In a matter of weeks, Covid-19 spurred seismic shifts in how we work, learn and transact, and it helped usher in a new era that is smarter and fairer. The surreal year 2020 produces a personal Groundhog Day effect. The clock moves at one-quarter speed as the time-numbing
U.S. stocks rose above the 3,000 level for the first time since March 5 on Tuesday, continuing a rally that has pushed the benchmark index up nearly 35% from its March 23 closing low on hopes for a potential coronavirus vaccine and the reopening of businesses across the country.
British supercar manufacturer McLaren Group, which includes the Formula One team, said on Tuesday it would cut 1,200 jobs under a proposed restructuring programme as it deals with the fallout from the COVID-19 pandemic.
U.S. passenger railroad Amtrak told Congress in a letter made public Tuesday it needs another $1.475 billion bailout or it will be forced to make sweeping service cuts and likely suspend some routes.
Warner Music Group said on Tuesday it is aiming to sell up to $1.82 billion in stock in its U.S. initial public offering, potentially the largest New York IPO so far in 2020 as the market for new stocks rebounds after the COVID-19 pandemic put many debuts on hold.
Investment bank Moelis & Co is in talks with a group owning around $3 billion in bonds and loans owed by Latam Airlines Group SA to represent them in the company's bankruptcy, one source with knowledge of the matter said on Tuesday.
Chile's LATAM Airlines Group SA filed for U.S. bankruptcy protection on Tuesday, becoming the world's largest carrier so far to seek an emergency reorganization amid the coronavirus pandemic.
Asian shares forged ahead on Tuesday while U.S. stock futures breached a major chart barrier as investors brushed past Sino-U.S. trade tensions to more stimulus in China and a re-opening world economy.