HSBC delays job cuts in face of coronavirus
HSBC has said it is delaying the "vast majority" of its planned redundancies to deal with the fallout from the coronavirus pandemic, a memo sent to staff seen by Reuters said.
HSBC has said it is delaying the "vast majority" of its planned redundancies to deal with the fallout from the coronavirus pandemic, a memo sent to staff seen by Reuters said.
Ford Motor Co said on Thursday it planned to restart production at some plants in North America as early as April 6, bringing back its most profitable vehicles at a time when U.S. demand has slumped and the No. 2 U.S. automaker is conserving cash to survive the coronavirus pandemic.
Wall Street jumped at the open on Thursday, building on a two-day rally, as investors bet on more stimulus measures after the U.S. jobless claims surged past 3 million last week, underscoring the economic impact of the coronavirus pandemic.
The number of Americans filing claims for unemployment benefits shot to record of more than 3 million last week as strict measures to contain the coronavirus pandemic ground the country to a sudden halt, unleashing a wave of layoffs that likely brought an end to the longest employment boom in U.S. history.[]
The number of Americans filing claims for unemployment benefits surged to a record of more than 3 million last week as strict measures to contain the coronavirus pandemic ground the country to a sudden halt, unleashing a wave of layoffs that likely brought an end to the longest employment boom in U.S. history.
Harley-Davidson Inc on Thursday withdrew its financial forecasts as the coronavirus outbreak hurts its supply chain, and warned further disruptions could dent its ability to supply and sell motorcycles.
Norway's sovereign wealth fund, the world's largest, named a London-based hedge fund manager as its new chief executive on Thursday and said it had lost $124 billion this year as stock markets tanked due to the coronavirus pandemic.
Americans should receive direct deposits for financial aid within three weeks as soon as the coronavirus economic relief bill is signed into law, the U.S. Treasury Secretary said, adding that the record jobless claims announced on Thursday "are not relevant."
Japanese conglomerate Mitsubishi Corp could potentially take a 10% stake in French carmaker Renault as part of scenarios being discussed to reinforce an alliance between Renault, Nissan and Mitsubishi Motors, Les Echos newspaper reported on Thursday.
Construction and mining equipment maker Caterpillar Inc said on Thursday it was suspending operations at some facilities and withdrawing its 2020 outlook as it struggled with the impact of government-ordered shutdowns on its plants and supply chains.
Governments stepped up efforts on Thursday to help airlines hammered by a virus-induced travel slump, with the United States offering $58 billion in aid, Singapore promising to keep its carrier aloft, and Australia easing competition rules.
The world's biggest oil and gas companies are slashing spending this year following a collapse in oil prices driven by a slump in demand because of coronavirus and a price war between the top exporters Saudi Arabia and Russia.
BlackRock and Credit Suisse reckon it is time to get back into equities after markets rallied this week following massive government and central bank stimulus packages to fight fallout from the coronavirus crisis.
Fast-food chain Wendy's Co said on Thursday it would defer rent and ease royalty and marketing fee payments for franchisees, amid growing pressure in the restaurant industry due to coronavirus-related outlet closures.
Share markets across the world fell on Thursday as nerves over jobs data likely to lay bare the economic carnage from the coronavirus pandemic outweighed a $2 trillion U.S. stimulus package.