Talking Biz News Today — May 5, 2020
Some of Tuesday’s top business news stories: Associated Press Treasury says April-June borrowing will be a record $2.99T, by Martin Crutsinger Carnival Cruise Line plans to sail again starting in August, by Dee-Ann Durbin, Adriana Gomez Licon CNN The Fed’s experiment with junk bonds is about to begin, by Matt Egan J.Crew has filed for […]
J. Crew files for bankruptcy
J. Crew has become the first national retail chain to file for bankruptcy amid the coronavirus pandemic. Anne D’Innocenzio reported the news for the AP: Struggling fashion brand J.Crew has filed for bankruptcy protection, the first major retailer to do so since the coronavirus pandemic forced most stores across the United States to close their […]
Talking Biz News Today — May 4, 2020
Some of Monday’s top business news stories: Associated Press Battered global tourism industry makes reopening plans, by Dee-Ann Durbin Solar, wind energy struggle as coronavirus takes toll, by Cathy Bussewitz, John Flesher, Patrick Whittle CNN Ryanair will cut 3,000 jobs and keep 99% of flights grounded through June, by Hanna Ziady Exxon posts its first […]
Berkshire Hathaway exits airlines
Warren Buffett’s Berkshire Hathaway has sold all its holdings in four U.S. airlines with Buffett himself citing the high degree of uncertainty about the future of the industry. Thomas Franck and Leslie Josephs from CNBC reported: Berkshire Hathaway Chairman and billionaire value investor Warren Buffett said that the conglomerate has sold the entirety of its […]
Ford plans to reopen factories
Ford is preparing to reopen its closed factories next month with strict health checks. CNBC’s Michael Wayland reported the news: Ford Motor expects to begin calling back salaried employees who have been working remotely due to the coronavirus pandemic beginning in late June, executives said Thursday. About 124,000 white-collar workers are expected to be in […]
Talking Biz News Today — May 1, 2020
Some of Friday’s top business news stories: Associated Press 30 million have sought US unemployment aid since virus hit, by Christopher Rugaber Apple pinched by pandemic; profit, iPhone sales decline, by Michael Liedtke CNN Global energy use suffers ‘historic shock.’ It’s like demand from India has been wiped out, by Julia Horowitz GM and Ford […]
Talking Biz News Today — April 30, 2020
Some of Thursday’s top business news stories: Associated Press Fed signals it will likely hold rates near zero for months, by Christopher Rugaber Pandemic brings fortunes to Amazon – and headaches too, by Anne D’Innocenzio, Alexandra Olson CNN Tesla posts profit despite hit from coronavirus, by Chris Isidore Boeing will cut 16,000 jobs after posting […]
Tesla surprises market with Q1 profit
As the auto industry reels from the blow it suffered from the Covid-19 pandemic, Tesla reported a profit for the first quarter. Lauren Feiner and Lora Kolodny reported the news for CNBC: Tesla shares rose more than 9% after hours as the company showed its third consecutive quarter with a profit. Here’s how the company […]
Talking Biz News Today — April 29, 2020
Some of Wednesday’s top business news stories: Associated Press Daimler: Shift to electric cars non-negotiable despite virus Federal Reserve likely to pledge support for ailing economy, by Christopher Rugaber CNN White House economist: Unemployment could hit 20% by June, by Matt Egan Ford warns its losses are growing, by Chris Isidore The Wall Street Journal […]
Ford warns of $5-bln loss for Q2
Ford has warned it will book a loss of $5 billion for the current quarter because of the coronavirus crisis. Ben Klayman and Nick Carey reported the news for Reuters: Ford Motor Co (F.N) said on Tuesday its second-quarter loss would more than double to over $5 billion from $2 billion in the first quarter […]
