Under Armour's quarterly revenue slumps on lockdowns hit
Athletic apparel maker Under Armour Inc on Monday reported a 23% fall in quarterly revenue, as retailers across the world remained shut due to the COVID-19 pandemic.
Athletic apparel maker Under Armour Inc on Monday reported a 23% fall in quarterly revenue, as retailers across the world remained shut due to the COVID-19 pandemic.
Starbucks Corp said on Monday it would begin a phased reopening of all its drive-thru locations and some takeaway-only stores in the United Kingdom as the country eases coronavirus-led restrictions on road travel.
U.S. stock index futures dipped on Monday following a strong week of gains for Wall Street, as investors turned cautious about a second wave of coronavirus infections with several countries reopening economies.
Virgin Group founder Sir Richard Branson is preparing to sell up to $504.5 million of his stake in space tourism company Virgin Galactic.
Millions of small business owners have not received government loans under the CARES Act. Many are bootstrapping, crowdfunding and deferring mortgage payments to stay afloat.
Oil prices rose on Monday, recovering earlier losses on news that leading exporter Saudi Arabia will reduce its output by 1 million barrels per day (bpd) on top of reductions agreed under an OPEC+ supply pact.
Stock markets fell on Monday after reports of a pick-up in new coronavirus cases rattled investors, who worried that it could slow or reverse the loosening of lockdown measures.
British Airways owner IAG has exhausted every avenue to shore up its finances and is burning through cash, its CEO said on Monday, as the aviation industry warned of the fresh damage it would suffer if Britain quarantines international arrivals.
U.S. stock index futures fell on Monday following a strong week of gains for Wall Street, as investors turned cautious about a second wave of coronavirus infections with several countries reopening economies.
The CARES Act provides relief measures for cash-strapped borrowers, including breaks on mortgages and student loan payments. But it will take firm federal oversight to ensure consumers benefit, said consumer advocate Richard Cordray, former director of the CFPB.
Hedge fund investor Paul Tudor Jones said the country may have trouble following contact tracing and other methods used by other nations to contain the virus quickly because of how Americans feels about individual freedoms.
U.S. hotel operator Marriott missed already lowered estimates for first-quarter profit by a huge margin on Monday, as bookings plunged due to coronavirus-led lockdowns that kept a quarter of its hotels closed.
Toyota Motor Corp plans to slash North American production by nearly a third through October and expects it will take some time for output to return to normal, according to a person familiar with the matter.
U.S. stocks opened lower on Monday after last week's rally as investors worried about a second wave of coronavirus infections with the reopening of several economies.