Business
United Airlines swings to $1.7 billion loss in first quarter as bookings disappeared in coronavirus pandemic
Hits: 2United Airlines had reported a first-quarter pretax loss earlier this month. Source
Month: April 2020
Investing
Wells Fargo will no longer accept applications for home equity lines of credit
Hits: 3Banks have been retreating from loans tied to housing as the coronavirus pandemic impacts home values and the creditworthiness of borrowers. Source
Small Business
Ex-TARP watchdog says Washington is to blame for large companies receiving small business loans
Hits: 4“I mean, Congress went out of its way to carve out businesses that have more than 500 employees but are restaurants, chain restaurants,” ex-TARP watchdog Neil Barofsky told CNBC. Source
Investing
Elon Musk interrupts NASA-SpaceX call during question about his coronavirus views: ‘Move on’
Hits: 5SpaceX CEO Elon Musk unexpectedly spoke up during a NASA conference call on Thursday Source
Retail
Macy’s will survive. It has a role to play in American retail, CEO Jeff Gennette says
Hits: 3In a candid phone conversation with CNBC, Macy’s CEO Jeff Gennette talks about working from home, the possibly of an industry bailout, shared sacrifice and the department store’s chances of survival. Source
Earnings
Apple reports flat revenue and does not offer guidance because of coronavirus uncertainty
Hits: 5Apple did not issue guidance for the quarter ending in June, as it usually does. The company withdrew guidance for its second-quarter in February as the Covid-19 coronavirus spread in China. Source
Earnings
Apple now has $192.8 billion in cash on hand, down from last quarter
Hits: 5Apple has continuously hosted one of the largest cash piles among U.S. companies, but is facing pressure from the Covid-19 pandemic. Source
Earnings
AWS tops $10 billion in quarterly revenue for the first time
Hits: 5Some Amazon cloud customers, like Slack and Zoom, saw record usage in the first quarter as governments directed people to stay home, with coronavirus cases proliferating. Source
Retail
Curbside pickup for retailers is here to stay. This shopping center owner is making it permanent.
Hits: 4Shopping center owner Kimco Realty is rolling out designated curbside pickup spaces, first in parking lots at 23 properties in Texas. Source
Investing
Stocks just posted their best month in decades, yet most of Wall Street hates this rally
Hits: 3“History tells us that the odds of another deep decline are very, very high,” one strategist said. Source