BMW is expecting a further decline in global demand as the coronavirus outbreak takes its toll, a spokesman said on Monday, after the German carmaker reported a 20.6% drop in first quarter sales to 477,111 vehicles.
RavnAir Group, the largest regional carrier in Alaska, filed for bankruptcy Sunday and grounded all of its 72 planes as it waits on a decision from U.S. Treasury for government assistance.
"We must not only flatten the curve of the health crisis but we must begin to flatten the curve of economic despair," the billionaire former Starbucks CEO said Monday.
Oil prices slumped on Monday, pulling back from last week's gains after Saudi Arabia and Russia delayed a meeting of oil producers aimed at resolving growing worldwide oversupply as the coronavirus pandemic pummels demand.
Luckin Coffee Chairman Charles Zhengyao Lu and Chief Executive Jenny Zhiya Qian have handed over shares in the embattled Chinese coffee chain to lenders after a company controlled by Lu's family defaulted on a $518 million margin loan, one of the banks said on Monday.
The spread of COVID-19 threatens the "birthplace of baseball" of Cooperstown, NY, and the summer tourism resdeitns have come to rely on.
While the economic stimulus legislation provides relief for coronavirus-related withdrawals from 401(k)s, loans previously taken out are subject to existing rules if you're laid off or otherwise part ways with your company.
Qatar Petroleum (QP) is pressing ahead with foreign as well as domestic expansion despite the global market turmoil caused by the coronavirus pandemic, its chief executive told Reuters on Monday.
U.S. airlines are extending loyalty program benefits and status into 2021 for members homebound because of the new coronavirus.
World stock markets jumped on Monday, encouraged by a slowdown in coronavirus-related deaths and new cases in some of the world's hot spots, while a delay in talks between Saudi Arabia and Russia to cut supply sent oil prices tumbling again.
The U.S. carrier had earlier planned to reduce its April capacity by at least 10% and May capacity by at least 15%.
Capri Holdings Ltd will furlough all its 7,000 retail staff in North America due to the coronavirus outbreak and expects to reopen stores around June 1, the owner of Michael Kors and Versace brands said on Monday.
The U.S. government is only just starting to roll out stimulus payments to individuals and families. However, many already say that money won't be enough. Here's what it would take for additional funds to be sent out.
New York Governor Andrew Cuomo on Monday cited tentative signs the coronavirus outbreak was "flattening" in his state but warned against complacency as the U.S. death toll topped 10,000 and the number of cases reached 350,000.
The S&P 500 was on track to recover about $1 trillion in market value in a furious rally on Monday after a drop in the daily death toll in New York, the country's biggest coronavirus hot spot, raised hopes that the pandemic could level off soon.