Ruth's Hospitality Group Inc, owner of the Ruth's Chris Steak House chain of restaurants, on Thursday said it would quickly repay $20 million of federal rescue loans it received to help maintain payroll through the coronavirus crisis, a program aimed at small businesses.
A preliminary survey of New York state residents found that nearly 14% of those tested had antibodies against the novel coronavirus, suggesting that some 2.7 million may already have been infected, Governor Andrew Cuomo said on Thursday.
The U.S. Centers for Disease Control and Prevention (CDC) on Thursday reported 828,441 cases of the novel coronavirus, an increase of 25,858 from its previous count, and said the number of deaths had risen by 1,804 to 46,379.
The U.S. House of Representatives looked poised to pass a $484 billion coronavirus relief bill on Thursday, funding small businesses and hospitals and pushing the total spending response to the crisis to an unprecedented nearly $3 trillion.
"I actually think long-term the best cyclical play out there are the very large banks," said Steve Eisman, senior portfolio manager at Neuberger Berman.
There is "substantial doubt" about Avianca Holdings' ability to stay in business due to the coronavirus crisis, the Colombian airline reported on Thursday, citing the conclusion of its financial auditors.
The bill, which aims to boost small businesses and hospitals and expand testing, is set to become law in the coming hours with Trump's signature.
The S&P 500 ended marginally lower on Thursday after a report that an experimental antiviral drug for the coronavirus flopped in its first randomized clinical trial, denting earlier optimism that the impact of the pandemic on the labor market was nearing an end.
Most major stock markets edged up slightly in mixed markets on Thursday as investors weighed a rebound in oil prices and prospects for further government stimulus against stark economic data showing the toll of the coronavirus pandemic.
Treasury Secretary Steven Mnuchin said he is considering a government lending program for U.S. oil companies looking for federal aid as they cope with a devastating plunge in prices, Bloomberg News reported on Thursday.
Eli Lilly and Co raised the top-end of its 2020 profit forecast on Thursday and reported better-than-expected quarterly results, as customers stocking up medicines such as diabetes drug Trulicity during the coronavirus pandemic boosted sales.
Ryanair must indicate the full price of the ticket when it displays offers on its website, the European Union's top court said on Thursday, although the low cost carrier said it was already doing so.
Gap Inc warned on Thursday it may not survive the next 12 months intact and would need to borrow more funds in the face of widespread coronavirus shutdowns that have crippled the business of clothing retailers globally.
Sales of new U.S. single-family homes dropped by the most in more than 6-1/2 years in March and further declines are likely as the novel coronavirus outbreak batters the economy and throws millions of Americans out of work.
The chair of the House Judiciary Committee's antitrust panel on Thursday called for a moratorium on mergers in the next coronavirus stimulus package and a ban on deals that are not directly related to companies about to fail.