Global currency fund managers racked up gains in the first quarter as they benefited from the extreme volatility that the coronavirus pandemic has stoked across financial markets.
JPMorgan Chase & Co , the largest U.S. lender by assets, started accepting at Friday midday applications for loans from the federal government's paycheck protection program, according to a post on the bank's website.
President Donald Trump hailed one of the country's largest banks, as well as many small lenders, for making small business emergency loans on the first day of a new U.S. coronavirus economic relief program.
At least two U.S. state attorneys have sought information from Zoom Video Communications Inc following multiple reports that questioned the privacy and security of the video-conferencing app.
Constellation Brands Inc , the U.S. distributor of Corona beer, said on Friday its Mexican breweries were still operational and supply to the United States was intact even as rivals suspended production due to the coronavirus pandemic.
Cisco Systems Inc's video-conferencing app Webex registered a record 324 million attendees in March, with usage more than doubling in the Americas, as the coronavirus-led lockdowns forced businesses to have employees work from home.
Glenview Capital Management, the hedge fund run by Larry Robbins, has lost roughly 30per cent in the first three months of 2020 as the spread of the new coronavirus hurt the healthcare facilities and hospital operators the firm has invested in.
Amazon.com Inc is postponing its major summer shopping event Prime Day at least until August and expects potentially a US$100 million hit from excess devices it may now have to sell at a discount, according to internal meeting notes seen by Reuters.
The U.S. economy shed 701,000 jobs in March, abruptly ending a historic 113 straight months of employment growth as stringent measures to control the novel coronavirus outbreak shuttered businesses and factories, confirming a recession is underway.
Central banks are pulling out all the stops to try to shield their economies from the new coronavirus pandemic, raising questions about whether they risk crossing a line by bailing out governments that are massively raising their spending.
