U.S. stock indexes shot up in early trade on Monday as encouraging data from a potential COVID-19 vaccine trial fueled optimism, while investors also counted on more stimulus to rescue the economy from a virus-driven slump.
Small businesses that participated in the Paycheck Protection Program won't be able to deduct expenses covered by this forgivable loan. The end result could be higher quarterly tax payments in July.
Hertz Global Holdings Inc on Monday appointed Paul Stone as its chief executive officer days after the U.S. car rental company raised going-concern doubts following a bigger quarterly loss.
The Detroit Three automakers and their suppliers began restarting assembly lines on Monday after a two-month coronavirus lockdown in a slow revival of a sector that employs nearly 1 million people in the United States.
The global economy will take much longer to recover fully from the shock caused by the new coronavirus than initially expected, the head of the International Monetary Fund said, and she stressed the danger of protectionism.
Delta Air Lines said on Monday it would resume flying several major routes in June that were suspended due to the COVID-19 pandemic.
Wall Street's main indexes surged on Monday as encouraging early data from a potential coronavirus vaccine trial boosted sentiment, with investors also counting on more stimulus to rescue the economy from a deep slowdown.
Oil prices jumped on Monday, with benchmark Brent hitting a one-month high and U.S. crude topping $30, supported by optimism about the reopening of economies and output cuts by major producers.
Confidence among U.S. single-family homebuilders rose in May, potentially signaling that the worst of the economic downturn was probably over as the country gradually reopens after lockdowns to slow the spread of the novel coronavirus.
Nissan Motor Co is working on a plan to scale back its European business, focusing on sport utility and commercial vehicles as well as more effective sharing of products and investments with partner Renault, three sources told Reuters.
The recent stock market volatility can be painful for investors, especially those approaching retirement or another financial goal. But getting out isn't the solution.
Wall Street's main indexes surged on Monday as encouraging early data from a potential coronavirus vaccine trial boosted sentiment, with investors also counting on more stimulus to rescue the U.S. economy from a deep slowdown.
Uber Technologies Inc will cut about 3,000 jobs, in addition to the 3,700 it had announced earlier this month, as coronavirus-led restrictions sap demand for ride-hailing services, Chief Executive Officer Dara Khosrowshahi said in an email to employees on Monday.
SoftBank Group Corp CEO Masayoshi Son on Monday pinned his hopes on a small group of "winged unicorns" to save the performance of his $100 billion Vision Fund - although he gave few clues on which ones they would be.
A gauge of global equity markets surged more than 2% on Monday and oil rallied to highs last seen in mid-April as data from a potential COVID-19 vaccine trial lifted both sentiment and hopes of a faster recovery from the coronavirus-driven economic slump.