Mitsubishi Motors Corp posted on Tuesday an 89% drop in annual operating profit for its weakest performance in three years and skipped the year-end dividend, as the coronavirus outbreak added to the Japanese automaker's profitability woes.
The euro and Italian government bonds continued on Tuesday to cheer German- and French-led plans for a 500 billion euro EU coronavirus recovery fund, though stock markets were suffering from fatigue after their best day in months.
Mitsubishi Motors Corp will focus on cutting fixed costs by 20% or more in the next two years after reporting an 89% drop in annual profit, its weakest performance in three years, and skipping its year-end dividend.
U.S. stock index futures eased on Tuesday, handing back gains from the S&P 500's best day in six weeks in the previous session, as disappointing results from Home Depot weighed on sentiment.
Home Depot Inc missed estimates for quarterly profit on Tuesday, as the home improvement chain spent heavily to compensate employees working at its stores during the COVID-19 pandemic.
JPMorgan Chase & Co has given out more than $30 billion in loans to over 250,000 businesses as part of the United States' coronavirus aid program for small businesses, Chief Executive Officer Jamie Dimon said in a memo on Tuesday.
U.S. homebuilding dropped by the most on record in April and permits for future construction tumbled, underlining fears that the coronavirus crisis would lead to the deepest economic contraction in the second quarter since the Great Depression.
Talks between Walmart and possible buyers of a majority stake in its British supermarket Asda will likely resume when the industry settles into a "new norm" with the worst of the coronavirus crisis behind it, the boss of Asda said on Tuesday.
Microsoft Corp said on Tuesday it plans to roll out a version of its cloud-based software that will be modified to suit the needs of healthcare organizations.
The S&P 500 was trading flat on Tuesday, handing back some gains from a strong rally in the previous session, as investors digested a mixed set of quarterly results from retailers including Home Depot and Walmart.
JPMorgan Chase & Co shareholders voted to reelect each of the bank's board members, with each director receiving at least 84% of the shares voted, according to initial tallies.
Italy could look into Fiat Chrysler's planned 5.5 billion euro ($6 billion) payout as part of its merger with Peugeot after the Italian-American carmaker asked for a 6.3 billion euro state-backed loan, a senior government source said.
The Los Angeles Lakers great partnered with MBE Capital Partners to offer loans to minority- and women-owned companies.
Lufthansa is bracing for hundreds of aircraft to remain grounded due to the coronavirus pandemic well into 2022 and that further job cuts at its maintenance and catering businesses were inevitable.
Kohl's Corp said the coronavirus crisis would have a material impact on results this year as it removed eight brands including Jennifer Lopez, Juicy Couture and Popsugar from its stores and warned demand for women's apparel would remain weak.