Saturday, 8 Aug 2020

Business

U.S. auto sales pandemic recovery continues as Toyota decline slows

DETROIT (Reuters) – U.S. new vehicle sales in July continued to show signs of recovery from the coronavirus pandemic, as Toyota Motor Corp (7203.T) on Monday posted its lowest sales decline since the COVID-19 outbreak slammed the sector in mid-March. The Japanese automaker said that its sales in July fell 19% versus the same month […]

J.C. Penney's survival hinges on urgent sale negotiations

NEW YORK (Reuters) – The survival of J.C. Penney Co Inc hangs on whether the department store chain can reach a complex deal within days to sell itself to an alliance of retail mavens and distressed-debt investors.  The 118-year-old retailer blew through a Friday deadline from lenders to sort through bids that would take the […]

Go your own way: U.S. and UK bonds part ways from Germany and Japan

LONDON (Reuters) – Sovereign borrowing costs have taken another lurch lower as more COVID-19 outbreaks threaten economic recovery, yet five months after the pandemic panic first hit, a divergence is opening up within four of the world’s biggest bond markets. While yields across the developed world are near record lows, U.S. and British borrowing costs […]

Exclusive: Chipotle, fast food brands set for new wave of hiring

NEW YORK (Reuters) – Chipotle Mexican Grill Inc wants to hire another 10,000 employees in coming months as its sales rebound, an official said, one of several big restaurant chains looking to add staff in an economy otherwise dimmed by the coronavirus pandemic. The fast-casual brand, known for its Mexican-inspired bowls and burritos, has already […]

With loan money gone, restaurants are at mercy of coronavirus – The Denver Post

NEW YORK — The check has arrived and beleaguered restaurant owners across America are looking down on their empty wallets. Government covronavirus loans in the spring helped eating establishments rehire laid-off employees and ride out the pandemic’s initial surge and wave of shutdown orders. But that Paycheck Protection Program money has now been spent at […]

Summer mood swings: markets turn higher on hopes of virus aid

LONDON (Reuters) – World stocks and the dollar rallied after a cautious European morning as thin summer trading led to sharp swings in the market, and worries about U.S. gridlock over the next round of coronavirus aid eased. In Europe, stocks were up 1.2% as technology stocks rallied on positive read-across from peers on the […]

Volkswagen South Africa boss Schaefer takes over at Skoda in shake-up

PRAGUE (Reuters) – Volkswagen’s (VOWG_p.DE) Czech carmaker Skoda Auto named VW’s South Africa boss Thomas Schaefer as its new chairman on Monday as part of a wider shake-up at the German autos group. Schaefer replaces Bernhard Maier, who left the Czech firm last month after nearly five years during which he led the 125-year-old Skoda […]

Investors cautious as U.S. lawmakers wrangle over virus aid

LONDON (Reuters) – World stocks began August cautiously as U.S. lawmakers struggled to agree on the next round of coronavirus aid, though a squeeze on crowded short positions left the dollar clinging to a tentative bounce. In Europe, stocks were up 0.7% as technology stocks rallied on positive read-across from peers on the other side […]

J.C. Penney's survival hinges on urgent sale negotiations

NEW YORK (Reuters) – The survival of J.C. Penney Co Inc (JCP.N) hangs on whether the department store chain can reach a complex deal within days to sell itself to an alliance of retail mavens and distressed-debt investors.  The 118-year-old retailer blew through a Friday deadline from lenders to sort through bids that would take […]

Strain on global manufacturing eases as euro zone returns to growth

LONDON/TOKYO (Reuters) – Euro zone manufacturing activity expanded modestly last month, its first growth since early 2019, and Asia’s pain eased as the contraction slowed in export-reliant nations, adding to hopes the sector is emerging from the hit of the coronavirus pandemic. Just over 18 million people have been infected by the coronavirus and the […]