Neiman Marcus Group skipped a debt payment due this week, the latest sign of a cash crunch pushing the U.S. luxury department store chain to the brink of a possible bankruptcy after it temporarily closed stores amid the coronavirus pandemic.
U.S. stocks rose on Thursday as Amazon.com Inc and Netflix Inc surged to record highs, although trading was choppy as investors worried about the impact of the coronavirus pandemic on first-quarter earnings.
The novel coronavirus may do to U.S. office rentals what e-commerce did to malls, or so goes a line of thinking running through commercial real estate circles.
U.S. small businesses may need up to $500 billion a month to ensure their survival through the coronavirus crisis, the head of the Atlanta Federal Reserve Bank said on Thursday as Fed officials voiced concern over the speed and breadth of the country's fiscal response to an unprecedented economic slowdown.
Maybelline make-up manufacturer L'Oreal said on Thursday it was counting on a quick recovery in cosmetics demand once global lockdowns to combat the coronavirus pandemic ease, pointing to a recovery already under way in China.
A $350 billion emergency U.S. loan program to help small businesses keep workers on their payrolls amid the novel coronavirus disruption has run out of funds, the U.S. Small Business Administration said on Thursday.
U.S. small businesses may need as much as $500 billion a month to fully ensure their survival through the widespread closures and disruptions slamming their revenue during the coronavirus crisis, Atlanta Federal Reserve bank President Raphael Bostic said Thursday.
Canada's privately held WestJet Airlines is laying off 1,700 pilots amid travel bans to curb the COVID-19 pandemic, according to a company memo seen by Reuters on Thursday.
During the early days of March, Jill Fopiano was having trouble sleeping, waking up at 3 o'clock in the morning, maybe 4 o'clock. She'd been watching news of a virus in China, first out the corner of her eye – was this like swine flu? – then more squarely, as headlines rushed in about outbreaks on the west coast of America. Fopiano wondered, in the darkness, if she should shut down her office in Boston's upscale Back Bay neighborhood.
World stock markets seesawed while bond yields retreated on Thursday as dire U.S. jobless data underscored a deepening downturn amid the coronavirus pandemic and tamped down investor hopes a listless economy would soon be back on its feet.
Italian trade unions said on Thursday they had agreed with CNH Industrial on health and security measures so the vehicle maker is ready to resume work as soon as lockdown rules are eased.
"Every time someone comes on 'Shark Tank,' they're full of hope and they're full of optimism," Robert Herjavec told CNBC.
Japanese automaker Nissan Motor Co said Thursday it will extend a shutdown of U.S. manufacturing plants until mid-May, citing the ongoing impact of the COVID-19 pandemic.
Oil prices slid, with U.S. crude on track for its lowest close since 2002, after OPEC lowered its global oil demand forecast due to the plunge in demand delivered by the coronavirus outbreak.
Italy's budget deficit will be near 10% of gross domestic product this year, a senior government official told Reuters, as Rome increases borrowing to try to soften the impact of the new coronavirus and the economy plunges into a deep recession.