Global equity markets gave back earlier gains on Friday as concerns triggered by the U.S. Federal Reserve's less-than-optimistic outlook for an economic recovery and a jump in U.S. coronavirus cases gave investors pause.
U.S. stocks were higher in late afternoon trading on Friday but had bounced between losses and gains as bargain hunting following a sharp losses a day earlier was offset by continued worries about the economy.
Mexico's Puebla state, where German automaker Volkswagen and its luxury brand unit Audi have major plants, said it is not ready to reopen its automotive sector due to ongoing concerns about the spread of the coronavirus.
U.S. stocks ended higher on Friday as bargain hunters stepped back into the market following sharp losses a day earlier, but all three major indexes suffered their biggest weekly percentage declines since March.
Zoom Video Communications, whose remote meeting app made the obscure California company a hub for global communications during the coronavirus pandemic, now finds itself fighting political battles in Washington and Beijing.
Global equity markets rose in choppy trading on Friday as concerns triggered by the U.S. Federal Reserve's less-than-optimistic outlook for an economic recovery and a jump in U.S. coronavirus cases gave investors pause.
Home rental firm Airbnb struck a partnership with Brazil's Sao Paulo state to encourage tourism once the novel coronavirus crisis has passed, a company executive said on Friday.
"There's really no way to prove or disprove that someone did or did not catch it in any particular location. And that scares a lot of the small business owners," one business owner told CNBC.
A bankruptcy judge on Friday approved Hertz Global Holdings Inc's proposal to sell up to $1 billion in shares, as the car rental firm looks to cash in on a huge speculative rise in its share price since filing for bankruptcy late last month.
British Airways was labelled a "national disgrace" by lawmakers for its treatment of employees on Saturday, adding to pressure on the airline as it juggles job cuts and new quarantine rules.
Canada's intelligence agency warned that arresting the daughter of billionaire Huawei founder Ren Zheng would set off global "shock waves" and seriously affect ties with China, just before her detention in Vancouver on a U.S. extradition request, new court documents show.
As the U.S. economy begins to emerge from the sharp slowdown during the coronavirus pandemic, some fund managers have been drawn to value stocks, a sector that underperformed during the recent rally.
Federal authorities administering business payroll loans as part of U.S. coronavirus relief efforts on Friday eased rules prohibiting lending to business owners with criminal records, allowing some with no convictions in the past year to access funds.
Hertz Global Holdings Inc said it won bankruptcy court approval on Friday to sell up to $1 billion in stock, capitalizing on a remarkable rally in its shares driven by speculators defying conventional market wisdom.
Washington Post | Nitasha Tiku | June 10, 2020 There’s a dearth of black investors in venture capital’s upper echelons and little investment in start-ups with black founders SAN FRANCISCO — Twenty-four hours. That’s how long it took SoftBank, the largest tech investor in the world, to spin up a $100 million Opportunity Fund last