Shares jump on coronavirus treatment hopes, oil soars
World stock markets rose sharply on Wednesday following encouraging news for an experimental COVID-19 treatment and some positive earnings reports, while beaten-up oil prices soared.
World stock markets rose sharply on Wednesday following encouraging news for an experimental COVID-19 treatment and some positive earnings reports, while beaten-up oil prices soared.
Canadian pot producer Canopy Growth Corp said on Wednesday it would lay off 200 employees in North America and the UK, according to an internal announcement seen by Reuters.
U.S. stocks surged on Wednesday as expectations of an effective COVID-19 treatment prompted a broad rally and helped investors shrug off bleak GDP data and words of warning from U.S. Federal Reserve Chair Jerome Powell.
Qualcomm Inc on Wednesday forecast current-quarter revenue largely in line with expectations as it signed more contracts for 5G phones, which use higher-priced chips, at a time when the COVID-19 pandemic has disrupted production channels and led to a fall in demand for smartphones.
The head of the Federal Reserve on Wednesday dashed lingering hopes for a fast rebound from the coronavirus pandemic, saying the U.S. economy could feel the weight of consumer fear and social distancing for a year or more in a prolonged climb from a deepening hole.
Austria might demand a stake in Lufthansa in exchange for granting emergency aid to the German flag carrier's unit Austrian Airlines, the country's conservative chancellor, Sebastian Kurz, said on Wednesday.
Microsoft Corp reported quarterly revenue above Wall Street estimates on Wednesday, boosted by higher demand for its cloud platform Azure and collaboration app Teams, and as people locked in their homes due to the pandemic played more games on Xbox consoles.
Facebook Inc beat analysts' estimates for quarterly revenue on Wednesday and said it has seen "signs of stability" for sales in April after a plunge in March, in yet another indication that tech giants may weather the coronavirus-induced economic collapse better than other sectors.
Tesla Inc on Wednesday posted its third quarterly profit in a row, but said the novel coronavirus was hurting deliveries and lockdown restrictions made it impossible for the electric carmaker to provide guidance for the full year.
U.S. stocks surged on Wednesday as hopes for an effective COVID-19 treatment prompted a broad rally and helped investors shrug off bleak GDP data and words of warning from U.S. Federal Reserve Chair Jerome Powell.
Coindesk | Nathaniel Whittemore | Apr 29, 2020 A massive shortage of dollars is instigating economic chaos, including a more than 50% loss of value in the Lebanese pound and what looks like an enormous local premium for bitcoins. Presented in podcast and full-transcript formats. The Lebanese pound has lost at least 50% of its
Volkswagen AG and Toyota Motor Corp said on Wednesday they will delay restarting U.S. production amid the coronavirus pandemic and concerns about the automotive supply network.
Tesla Inc's outspoken CEO Elon Musk on Wednesday called sweeping U.S. stay-at-home restrictions to curtail the coronavirus outbreak "fascist" as the electric carmaker posted its third quarterly profit in a row.
Asian equity markets were poised to gain on Thursday, tracking Wall Street's rally after positive trial results of an experimental COVID-19 treatment, a U.S. Federal Reserve pledge to shore up the economy and a jump in oil prices.
Facebook Inc beat analysts' estimates for quarterly revenue on Wednesday and said it has seen "signs of stability" for sales in April after a plunge in March, in yet another signal that tech giants may weather the coronavirus-induced economic collapse better than other sectors.