Warren Buffett on Saturday gave an upbeat assessment of the United States' ability to withstand crises, even as he acknowledged that the coronavirus pandemic could have a wide range of impacts on the economy and his investments.
The ongoing U.S. travel crisis is causing thousands of job cuts as the aviation sector waits for passengers to return to the skies but braces for years of lower demand because of the coronavirus pandemic.
Warren Buffett said on Saturday gave an upbeat assessment of the United States' ability to withstand crises, even as he acknowledged that the coronavirus pandemic could have a wide range of impacts on the economy.
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Germany, Italy and Spain have joined a call by 12 European Union governments for the EU's executive body to suspend rules forcing crisis-hit airlines to offer full cash refunds for cancelled flights, France said in a statement on Saturday.
Gargiulo Produce opened in 1929 as a vegetable cart going door to door to sell food. Now, the company sells online to survive the coronavirus shutdown.
Warren Buffett's Berkshire Hathaway Inc is being hit hard by the coronavirus pandemic, posting a record quarterly net loss of nearly $50 billion on Saturday and saying performance is suffering in several major operating businesses.
Warren Buffett's Berkshire Hathaway Inc on Saturday posted a record net loss of nearly $50 billion as the coronavirus pandemic pummeled its common stock investments, but operating profit rose even as COVID-19 hurt its businesses.
French bank Societe Generale expects to have to provision 3.5 billion euros to 5 billion euros ($3.84 bln-5.49 bln) this year because of losses due to the coronavirus crisis, its chief executive said in an interview on Saturday.
Tesla Inc told furloughed employees on Friday that they will remain out of work for at least another week, postponing a plan to resume normal operations on May 4 at its San Francisco vehicle-assembly plant, according to an internal email.
Icahn's next energy bet could pay off through a takeover or a rebound in oil prices.
As lockdown orders force billions of people to work, learn and play from home during the novel coronavirus outbreak, usage has surged for the cloud computing services that power video conferencing, streaming television and online games.
The fate of Norwegain Air was in the balance on Friday after a deadline passed overnight for bondholders to vote on a rescue package for the transatlantic budget airline.
The U.S. government's $660 billion small business rescue program has stumbled on missing paperwork, technology failure, and the misdirection of funds to big corporations. Now, it is lurching toward another hurdle: forgiving those hastily arranged loans.