Business

FILE PHOTO: An empty Chipotle restaurant is seen in the financial district in lower Manhattan during the outbreak of the coronavirus disease (COVID-19) in New York City, New York, U.S., April 3, 2020. REUTERS/Mike Segar (Reuters) – U.S. restaurants are on track to lose $50 billion in April, with losses mounting to an estimated $240

FILE PHOTO: A Boeing 737 Max aircraft is seen parked in a storage area at the company’s production facility in Renton, Washington, U.S. January 10, 2020. REUTERS/Lindsey Wasson SYDNEY (Reuters) – China Development Bank (CDB) Financial Leasing Co (1606.HK) said on Monday it had agreed with Boeing Co (BA.N) to cancel the purchase of 29

(Reuters) – Neiman Marcus Group is preparing to seek bankruptcy protection as soon as this week, becoming the first major U.S. department store operator to succumb to the economic fallout from the coronavirus outbreak, people familiar with the matter said. FILE PHOTO: Shoppers enter and exit the Neiman Marcus at the King of Prussia Mall,

WASHINGTON (Reuters) – U.S. banks are pushing the Federal Reserve to change the terms of a $600 billion lending program for small and medium-sized businesses, including reducing minimum loan sizes and allowing more flexibility on underlying reference rates, industry groups said. FILE PHOTO: Federal Reserve Board building on Constitution Avenue is pictured in Washington, U.S.,

WASHINGTON/SAN FRANCISCO (Reuters) – Over two frantic weeks, the U.S. government pledged $350 billion to Main Street businesses across America desperate for cash after coronavirus lockdowns. FILE PHOTO: A person in a mask walks on a nearly empty street in the coronavirus outbreak near the Treasury Department in Washington, U.S. March 30, 2020. REUTERS/Jonathan Ernst

The first production ventilators are seen at the General Motors Kokomo manufacturing facility in response to the coronavirus disease (COVID-19) outbreak in Kokomo, Indiana, U.S. April 13, 2020. AJ Mast/General Motors/Handout via REUTERS. (Reuters) – General Motors said on Friday it had started delivering the first batch of 54 ventilators to U.S. hospitals treating severely

AMSTERDAM (Reuters) – Institutional investors in 15 major pharmaceutical companies have called on the drugmakers to set aside rivalries and short-term interests and cooperate on finding solutions to the coronavirus. FILE PHOTO: The logo of Swiss drugmaker Roche is seen at its headquarters in Basel, Switzerland February 1, 2018. REUTERS/Arnd Wiegmann The investor group –

NEW YORK (Reuters) – Asian stocks look set to bounce on Friday to recover towards a one-month high as investors, following Wall Street’s lead overnight, sought silver linings in a run of data that showed the world is in its worst recession in decades. FILE PHOTO: A man wearing a face mask is seen inside

FILE PHOTO: The Chinese national flag flies on the roof of a Ford car dealership in Beijing, China October 11, 2018. REUTERS/Thomas Peter BEIJING (Reuters) – Ford Motor Co (F.N) said on Thursday that its China vehicle sales in the first three months this year fell 34.9% from a year earlier to 88,770 units, as

FILE PHOTO: Customers queue to enter a Costco Wholesalers in Chingford, Britain March 15, 2020. REUTERS/John Sibley (Reuters) – Costco Wholesale Corp (COST.O) said on Wednesday it would raise its quarterly dividend by 7.7% to 70 cents per share, at a time when several major companies have suspended cash returns to shareholders to shore up

NEW YORK (Reuters) – J.C. Penney Co Inc (JCP.N) is exploring filing for bankruptcy protection after the coronavirus pandemic forced the U.S. retailer to temporarily shut its 850 department stores, upending its turnaround plans, according to people familiar with the matter. FILE PHOTO: A JC Penney store is shown in Oceanside, California, U.S., July 31,

NEW YORK (Reuters) – U.S. stocks jumped on Tuesday as optimism that the Trump administration could move to ease lockdowns from the coronavirus overshadowed worrying earnings reports from JPMorgan and Wells Fargo. White House adviser Larry Kudlow said President Donald Trump would make a number of announcements about re-opening the U.S. economy in the next

TOKYO (Reuters) – Oil prices rose around 1% on Tuesday after the U.S. Energy Information Administration (EIA) predicted shale output in the world’s biggest crude producer would fall by a record amount in April, adding to cuts from other major producers. FILE PHOTO: Oil pump jacks work at sunset near Midland, Texas, U.S., August 21,

MADRID (Reuters) – Employees at global fashion giant Inditex’s 10 logistics centres in Spain – from where it sends garments to its stores worldwide – returned to work on Monday but only to less than half their normal levels of activity, workers said. FILE PHOTO: People leave a Zara store, an Inditex brand, in central

SINGAPORE (Reuters) – Oil prices jumped more than $1 a barrel on Monday after major producers finally agreed their biggest-ever output cut, but gains were capped amid concern that it won’t be enough to head off oversupply with the coronavirus pandemic hammering demand. FILE PHOTO: The sun sets behind a crude oil pump jack on

FILE PHOTO: A truck arrives at Smithfield Foods’ pork plant in Smithfield, Virginia, U.S. October 17, 2019. Picture taken October 17, 2019. REUTERS/Tom Polansek/File Photo CHICAGO (Reuters) – Smithfield Foods, the world’s biggest pork processor, said on Sunday it will shut a U.S. plant indefinitely due to a rash of coronavirus cases among employees and