BlackRock Inc will earn less than $8 million a year in fees for its role assisting the Federal Reserve with its purchases of commercial mortgage-backed securities, one of the new programs the central bank is rolling out to backstop an economy under threat from the coronavirus outbreak, according to details of the arrangement released on Friday.
U.S. President Donald Trump on Friday invoked emergency powers to require General Motors Co to build much-needed ventilators for coronavirus patients after he accused the largest U.S. automaker of "wasting time" during negotiations.
General Motors Co has reached a $120 million settlement with drivers who claimed that their vehicles lost value because of defective ignition switches, which have been linked to 124 deaths.
Airbnb Inc has suspended all its marketing activities to save $800 million this year, and its founders will take no salary for the next six months while top executives will take a 50% cut, according to a person familiar with the matter.
As China reopens its economy after months of lockdown, Apple Inc's iPhone factories are largely up and running. But with the coronavirus pandemic spreading across the world, the urgent question for the company is how many buyers there will be both for current models and the new slate of phones expected in the fall.
General Motors Co has reached a $120 million settlement with owners who claimed that their vehicles lost value because of defective ignition switches, which have been linked to 124 deaths.
Nearly one in four U.S. adults said they have been laid off or furloughed during the coronavirus outbreak, yet a bipartisan majority of Americans wants businesses to remain closed to slow the spread of the deadly virus despite its impact on the economy, according to a Reuters/Ipsos poll.
Oil prices rose on Friday as governments around the world pledged a huge injection of funds and other measures to limit the economic fallout from the coronavirus pandemic, despite fears the outbreak will destroy demand for oil.
For Samsung Electronics Co Ltd , the 2020 Tokyo Olympics were going to be its springboard to attain a long-held goal - making significant inroads into Japan's lucrative smartphone market where Apple Inc dominates.
Singapore Airlines Ltd said it had secured up to S$19 billion ($13 billion) of funding to help see it through the coronavirus crisis and expand afterward, in a sign of confidence travel demand will eventually return.
U.S. electric carmaker Tesla Inc plans to slash on-site staff at its Nevada battery plant by around 75% due to the coronavirus pandemic, the local county manager said on Thursday.
Investors could be forgiven for doing a double-take: Wait, we're back in a bull market?
Toyota Motor Corp has sought a credit line totaling 1 trillion yen ($9.23 billion) from Sumitomo Mitsui Banking Corp and MUFG Bank as fund-raising costs rise on the back of the coronavirus pandemic, Kyodo News reported on Friday.
China's auto industry has gone from zero to sixty in its post-pandemic campaign drive, with manufacturers and dealers quick to woo back lockdown-weary consumers through campaigns as unusual as a makeup-promoting personality touting car leasing.
Oil prices were mixed on Friday as governments took unprecedented steps to limit the economic fallout from the coronavirus pandemic.