Millions more Americans likely filed for unemployment benefits last week as backlogs continue to be cleared and disruptions from the novel coronavirus unleash a second wave of layoffs, pointing to another month of staggering job losses in May.
Schlumberger, the world's largest oilfield services firm, will reshuffle top executives and operations in coming months to deal with this year's historic decline in the oil industry, according to a memo to employees.
Federal Reserve policymakers re-upped a pledge to keep interest rates near zero until they are confident the U.S. economy is on track to recovery, a detailed summary of their most recent policy-setting meeting shows.
Uncle Sam will allow you to put away up to $3,600 into a health savings account in 2021 if you have self-only coverage and a high-deductible health plan. That number is $7,200 for family coverage.
German online fashion retailer Zalando proposed on Wednesday that Jennifer Hyman, the chief executive of U.S. clothing rental firm Rent the Runway, joins its supervisory board, replacing Alexander Samwer.
BlackRock Inc is willing to drop the ask in a debt restructuring proposal to the Argentine government to between 50-55 cents on the dollar and had made the suggestion to its creditor committee, a source familiar with the group's discussions said.
Oil prices climbed more than 2% on Wednesday on signs of improving demand and a drawdown in U.S. crude inventories, but gains were capped by worries over the economic fallout from the coronavirus pandemic and weak refining margins.
The S&P 500 hit more than a two-month high on Wednesday as signs of additional economic stimulus raised hopes of a swift recovery from a coronavirus-driven slump.
The Trump administration abruptly postponed an auction of oil and gas leases in New Mexico that had been scheduled to begin on Wednesday morning without providing a reason for the move.
Buyout firm Apollo Global Management said on Wednesday it has invested $1.75 billion in Albertsons Companies Inc, a sign of confidence in the debt-laden U.S. supermarket operator whose fortunes have picked up in the coronavirus outbreak.
Terms of a planned merger between Fiat Chrysler and Peugeot-owner PSA are set in stone, FCA's chairman said on Wednesday, brushing off talk that some aspects of the deal might be re-negotiated because of the COVID-19 crisis.
The world's largest airliner, the Airbus A380, took a step closer to the aviation archives on Wednesday as Air France said it would permanently axe its grounded fleet and sources said Emirates was in talks to reduce remaining deliveries.
Volkswagen withdrew on Wednesday an advert posted on its official Instagram page for its Golf cars that it admitted was racist and insulting, saying it would investigate how it came about and draw consequences.
McKinsey & Company | By Matthieu L, Debasish P, Ildiko R, Hiro S, and Marcus S | May 18, 2020 Now is the time for Europe’s banking leaders to reimagine how their institutions operate and their role in society. COVID-19 remains an unresolved health challenge that has resulted in tragic loss of life. The economic
Crude prices rose and a gauge of global equities broke out of a three-week trading range on Wednesday as investors bet on a rapid recovery from the coronavirus-induced recession.