Sweden's AB Volvo reported a smaller-than-expected fall in quarterly operating earnings on Thursday as service sales held up in the face of tumbling sales and orders of its trucks as demand evaporated in the face of the coronavirus.
Credit Suisse Group AG posted a 75% rise in first-quarter net profit on Thursday, even as it cautioned the global coronavirus pandemic could impact performance in coming quarters.
The dollar erased gains and fell against the currencies of oil producers on Thursday, as a rebound in crude prices after an unprecedented collapse helped to calm markets unnerved by the massive coronavirus-led drop in global demand.
Air France-KLM must scrap all of Chief Executive Ben Smith's bonus payments for this year if it wants to secure state aid, Dutch Finance minister Wopke Hoekstra said on Thursday.
U.S. shale producers, refiners and pipeline companies are scrambling for cash and face likely restructuring as they struggle under heavy debt loads and a dual supply/demand shock in the worst crisis the oil industry has faced.
South Korea's Hyundai Motor Co said on Thursday first-quarter net profit slumped 44% to its lowest level for the quarter in a decade as the spreading coronavirus outbreak hit demand for cars worldwide.
French carmaker Renault on Thursday posted a 19.2% drop in first-quarter revenue to 10.13 billion euros ($10.97 billion), and said it was still too early to assess what impact the coronavirus crisis would have on its earnings this year.
Swedish truck maker AB Volvo reported a smaller-than-expected fall in first-quarter operating earnings on Thursday but warned its net order intake of trucks had been negative since the end of March as customers canceled planned purchases due to the pandemic.
A record 26 million Americans likely sought unemployment benefits over the last five weeks, confirming that all the jobs created during the longest employment boom in U.S. history were wiped out in about a month as the novel coronavirus savages the economy.
"We have to win the trust of the staff and the guests as well," said Willie Degel, owner of Uncle Jack's Meat House in Duluth, Georgia.
Jobless Americans who get the bulk of their income from contract work or self-employment, but also have a side gig, could end up getting smaller unemployment checks from their state than they thought.
The dollar edged higher against the currencies of oil producers on Thursday as a rebound in crude prices from an unprecedented collapse only partially calmed markets unnerved by the massive coronavirus-led drop in global demand.
South Korean automaker Kia Motors plans to suspend operations at two of its domestic factories from April 27 to May 10 and again between May 22 to 25, a union official said on Thursday.
The United Auto Workers (UAW) said late Wednesday discussions are still underway with Detroit's Big Three automakers to safely restart U.S. production halted by the coronavirus pandemic.
SoftBank Group Corp founder Masayoshi Son's dream of a global tech empire is unravelling, with the coronavirus crisis compounding losses at his $100 billion Vision Fund and distress at his big bets portending more pain.