Business

Global stocks rally Friday on Gilead’s coronavirus treatment and Boeing’s production restart

U.S. stock futures are signaling a strong start to Friday's session adding to the momentum seen on Thursday.The Dow Jones Industrial Average are up more than 700 points or 3 percent while the S&P 500 was higher by nearly 3 percent and the Nasdaq Composite 2 percent.Earlier in the evening, President Trump outlined...

Trump holds CEO calls before coronavirus economic revival rollout

The early groundwork for reopening the U.S. economy is underway and President Trump, along with the nation's top CEOs and business leaders, are working in tandem to provide a blueprint on how an economic reboot may roll out as cases of the coronavirus peak in some areas."These encouraging developments have put us in a very strong position to...

Retail sales plunge to new low in March as virus freezes US spending

U.S. retail sales suffered the biggest drop in history in March, plummeting by 8.7 percent as the coronavirus pandemic forced businesses around the country to close and shoppers were directed to stay at home.It was the steepest decline since the government began tracking retail sales in 1992. February’s report was revised to a 0.4 percent decline.

Siemens CEO rules out job cuts from coronavirus impact

ZURICH - Siemens will not cut its workforce because of the economic downturn triggered by the new coronavirus, Chief Executive Joe Kaeser said, although short-time working measures could be extended in Germany.“No one at Siemens will leave because of a temporary fluctuation in activity,” Kaeser told Passauer Neue Presse in an interview published on Saturday.

As coronavirus strands travelers, tourism scrambles to survive

In the age of COVID-19, the word ‘travel’ tends to only apply to trips to the store for basic needs or walking from the bed to the couch and back. With almost the entire globe shut down, businesses that took years to build were brought to a standstill in just weeks.The sudden stop in...

Trader Joe’s fired staffer after coronavirus safety concerns were shared: Lawsuit

A Kentucky man has sued Trader Joe's claiming the company wrongfully fired him for posting about new coronavirus-related concerns in a private Facebook group, according to a report Friday.A rep for Trader Joe’s did not immediately respond to FOX Business’ request for comment, but spokesperson Kenya Friend-Daniel told the Louisville outlet the company “did not end his employment due to a...

Coronavirus stimulus payments: These individuals must take action to get checks

As the IRS prepares to begin depositing economic impact payments into Americans’ bank accounts, some groups of people will need to take action in order to get that cash.The payments will be automatic for the majority of taxpayers. The agency will use either your 2018 or 2019 return – depending on whether you have filed yet...

Calling Trump: When connections help steer virus supplies

WASHINGTON — It was early on a Friday when Jared Kushner said he received a call from his father-in-law, President Donald Trump. Trump was hearing from friends in New York that the city's public hospital system was running low on critical supplies to fight the new coronavirus — something city officials, nurses and doctors had been saying for weeks.Kushner,...

Netflix teases racy show amid coronavirus-spurred viewership spike

Netflix is cashing in on the coronavirus quarantine with a new dating show that chronicles how scantily-clad singles get along while on a luxury beach vacation, with one caveat: they’re not allowed to get physical with each other, or even kiss, the streaming service announced Friday morning.“Too Hot to Handle” gives viewers a glimpse at what happens with 10...

More Disney workers reach deals on coronavirus furloughs

ORLANDO, Fla. — Two more unions have reached agreements with Walt Disney World over furloughs caused by the theme park resort's closure during the new coronavirus outbreak.The agreements reached late Friday apply to security guards and workers involved in facilities and operations.Workers will continue to get health and educational benefits during furloughs scheduled to...

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