Asia stocks fall after U.S. crude collapses for second day
Asian share markets slipped to two-week lows on Wednesday as the floor fell out from under crude prices, exposing the deep economic damage wrought by the global coronavirus health crisis.
Asian share markets slipped to two-week lows on Wednesday as the floor fell out from under crude prices, exposing the deep economic damage wrought by the global coronavirus health crisis.
Facebook will buy a 10% stake in the digital business of India's Reliance Industries for $5.7 billion, as the social media firm looks to leverage its highly popular WhatsApp chat service to offer digital payment services.
Global business leaders are preparing for a drawn-out U-shaped recession due to the impact of coronavirus and many fear their companies won't survive the pandemic, a survey of thousands of chief executives showed on Wednesday.
JPMorgan Chase & Co, the largest U.S. lender, said on Tuesday it was working on a plan to bring thousands of employees who have been working from home for more than five weeks back onsite in stages, according to an internal memo seen by Reuters.
Oil prices found some respite on Wednesday as U.S. oil futures rose more than 20% and Brent prices steadied after a two-day price plunge, as markets struggle with a massive crude glut amid the coronavirus outbreak.
The Trump administration is considering the possibility of providing liability protection to small businesses that reopen and put their employees back to work as the nation tries to repair the economic damage wrought by the coronavirus, a top White House adviser said on Tuesday.
Snap Inc on Tuesday beat Wall Street estimates for quarterly revenue and user growth for its Snapchat app, as more people seek entertainment while they stay at home during the global coronavirus pandemic.
A U.S. labor and activist coalition said employees of Amazon.com Inc would take off work starting on Tuesday to draw attention to what it says are unsafe conditions at warehouses during the coronavirus pandemic.
Chipotle Mexican Grill Inc on Tuesday reported a 16% drop in March same-store sales while online orders surged, as it was forced to keep stores closed because of the coronavirus pandemic.
Online lender LendingClub Corp said on Tuesday it would lay off 460 employees, including President Steven Allocca, as part of a restructuring plan to slash costs amid the economic fallout of the COVID-19 pandemic.
Netflix Inc on Tuesday reported a surge in new sign-ups as audiences stayed in their homes to help fight the novel coronavirus and binged on series such as "Tiger King," but the company predicted a weaker second half of the year if quarantine orders are lifted.
Texas oil and gas regulators in coming days are poised to decide whether to order larger producers in the state to shut in 20% of their output, wading into global oil politics as the coronavirus crisis slashes demand for oil .
The U.S. Senate on Tuesday unanimously passed legislation providing nearly $500 billion in additional federal aid to help small businesses hurt by the coronavirus pandemic and to aid hospitals dealing with large numbers of seriously ill patients.
United Airlines Holdings Inc on Tuesday announced a stock offering of 39.25 million shares, sending its shares down 3% in extended trading.
Texas Instruments Inc on Tuesday forecast current-quarter revenue and profit largely below Wall Street estimates after posting first-quarter results above expectations, as the chip industry braces for a big hit from the coronavirus outbreak.