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Reuters - Business

Exclusive: Amazon entices warehouse employees to grocery unit with higher pay

Reuters
(Reuters) – Amazon.com Inc is offering higher pay to recruit its own warehouse employees to pick and pack Whole Foods groceries amid rising demand and a worker shortage, according to an internal document reviewed by Reuters. FILE PHOTO: Small toy figures are seen in front of diplayed Amazon logo in......
Reuters - Business

Factbox: Carmakers churn out machines, masks to help fight coronavirus

Reuters
(Reuters) – Auto companies and suppliers around the world are ramping up production of critical healthcare products and machines – everything from cloth face masks to sophisticated ventilator systems – to meet a critical shortage of those items at hospitals and care facilities in North America, Europe and Asia. Here......
Reuters - Business

Trump tells GM: Stop ‘wasting time’, build ventilators to address coronavirus

Reuters
WASHINGTON/DETROIT (Reuters) – 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. Trump, who has been on the defensive for not moving faster to compel the......
Reuters - Business

Apple’s factories are running, but suppliers wary about iPhone demand

Reuters
(Reuters) – As China reopens its economy after months of lockdown, Apple Inc’s (AAPL.O) 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......
CBS US News

How will the U.S. pay for $2 trillion coronavirus stimulus package?

CBS News
CBS News – For more and to sign up click here President Donald Trump on Friday afternoon signed a $2 trillion stimulus deal aimed at softening the economic impact of the novel coronavirus. That’s a whole lot of money, especially if you’re among the 83% of Americans who told Peterson Foundation pollsters last......
Reuters - Business

Wall Street Week Ahead: Fund rebalancing could help buoy stock rebound

Reuters
NEW YORK (Reuters) – Money managers rebalancing their portfolios to boost equity exposure into the end of the quarter may support the nascent stock rally that has followed the steep coronavirus-fueled market drop. FILE PHOTO: Traders work on the floor of the New York Stock Exchange (NYSE) near the close......
Reuters - Business

U.S. regulators give banks relief on accounting standard, derivatives rule

Reuters
FILE PHOTO: Federal Reserve Board building on Constitution Avenue is pictured in Washington, U.S., March 19, 2019. REUTERS/Leah Millis/File Photo WASHINGTON (Reuters) – U.S. banking regulators told banks Friday they could ignore the capital implications of a new accounting standard for two years and adopt early a new, more sensitive......
Reuters - Business

GM reaches settlement over lost vehicle value from defective ignition switches

Reuters
File Photo: The GM logo is seen at the General Motors plant in Sao Jose dos Campos, Brazil, January 22, 2019. REUTERS/Roosevelt Cassio NEW YORK (Reuters) – General Motors Co (GM.N) has reached a $120 million settlement with owners who claimed that their vehicles lost value because of defective ignition......
Reuters - Business

Airbnb suspends marketing to save $800 million, top executives take pay cut: source

Reuters
FILE PHOTO: The Airbnb logo is seen on a little mini pyramid under the glass Pyramid of the Louvre museum in Paris, France, March 12, 2019. .REUTERS/Charles Platiau/File Photo (Reuters) – Airbnb Inc has suspended all its marketing activities to save $800 million this year, and its founders will take......
Reuters - Business

Treasury: U.S. will be ‘compensated’ for assistance to airlines

Reuters
WASHINGTON (Reuters) – U.S. Treasury Secretary Steve Mnuchin said on Friday that taxpayers will “compensated” for providing up to $25 billion in direct grants to the airline industry. FILE PHOTO: Treasury Secretary Steve Mnuchin takes a phone call in the hall outside a meeting to wrap up work on coronavirus......
Reuters - Business

Airbnb to halt all marketing, most hiring as losses mount: The Information

Reuters
FILE PHOTO: The Airbnb logo is seen on a little mini pyramid under the glass Pyramid of the Louvre museum in Paris, France, March 12, 2019. .REUTERS/Charles Platiau/File Photo (Reuters) – Airbnb plans to halt all of its marketing, pause most hiring, and likely withhold employee bonuses as it tries......
Reuters - Business

Bipartisan majority of Americans reject Trump idea to reopen by Easter: Reuters/Ipsos poll

Reuters
NEW YORK (Reuters) – A bipartisan majority of Americans appear to reject an idea floated by President Donald Trump to reopen businesses by Easter, according to a Reuters/Ipsos poll, which also showed that nearly one in four have been laid off or furloughed during the coronavirus outbreak. Crowds of people......
Reuters - Business

U.S. airlines cheer government relief but warn it is no ‘cure’ for deep industry crisis

Reuters
CHICAGO (Reuters) – United Airlines Holdings Inc and Delta Air Lines welcomed on Friday a $50 billion relief package they said would protect jobs through September but warned that the continued challenges facing the industry will require more action. Delta Air Lines passenger planes are seen parked due to flight......
Reuters - Business

U.S. airlines expect clarity on terms of payroll grants in 5-10 days: UAL senior executives

Reuters
CHICAGO (Reuters) – U.S. airlines expect to learn the terms of federal aid meant to protect workers’ payrolls in the midst of a sharp downturn from the coronavirus in the next five to 10 days, senior executives at United Airlines Holdings Inc (UAL.O) said on Friday. Under a relief bill......
Reuters - Business

Wall Street tumbles as U.S. virus cases pass 100,000

Reuters
(Reuters) – Wall Street stocks tumbled on Friday, ending a massive three-day surge after doubts about the fate of the U.S. economy resurfaced and the number of coronavirus cases in the country climbed. U.S. stocks deepened their losses late in the session, even after the House of Representatives approved a......
Reuters - Business

Almost one in four Americans lost job or furloughed because of coronavirus: Reuters/Ipsos poll

Reuters
NEW YORK (Reuters) – 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 - Business

Fed sets fee structure for BlackRock’s role in mortgage bond purchases

Reuters
FILE PHOTO: People walk wearing masks outside The Federal Reserve Bank of New York in New York City, U.S., March 18, 2020. REUTERS/Lucas Jackson NEW YORK (Reuters) – BlackRock Inc will earn less than $8 million a year in fees for its role assisting the Federal Reserve with its purchases......
Reuters - Business

Stocks down on virus’ economic toll; dollar falls further

Reuters
NEW YORK (Reuters) – Stocks across the globe fell on Friday after a historic three-day run-up, as skittish investors kept indices on track for their worst monthly and quarterly performances since 2008, while the dollar fell by the most in any week since 2009. Shares on Wall Street ended near......
Reuters - Business

Wall Street tumbles as U.S. virus cases pass 85,000

Reuters
(Reuters) – Wall Street tumbled on Friday, ending a massive three-day surge after doubts about the fate of the U.S. economy resurfaced and the number of coronavirus cases in the country climbed. FILE PHOTO: Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S.,......
Reuters - Business

Oil plunges posting fifth straight weekly loss despite stimulus efforts

Reuters
NEW YORK (Reuters) – Oil prices plunged 5% on Friday and posted a fifth straight weekly loss as demand destruction caused by the coronavirus outweighed stimulus efforts by policymakers around the world. FILE PHOTO: A pump jack operates in front of a drilling rig at sunset in an oil field......

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