Category: Business

Trump says should be possible to allow PPP borrowers more time to use loans

U.S. President Donald Trump said on Monday extending the amount of time borrowers in the Paycheck Protection Program have to spend their funds to 24 weeks from the current eight weeks “should be easy.” Trump made the comment at a White House roundtable event with restaurant executives, who urged the extension. Restaurants have been particularly […]

Starbucks reopens in Italy but keeps Milan flagship closed

Italians will be able to grab a cup of their favorite Starbucks coffee again after the group said on Monday it would reopen its Italian cafes, with the exception of its flagship location in central Milan. On Monday shops, restaurants, coffee shops and hair salons reopened in Italy as the government further softened its coronavirus […]

Nissan’s survival plan for Europe: SUVs and sharing with Renault

Nissan Motor Co (7201.T) is working on a plan to scale back its European business, focusing on sport utility and commercial vehicles as well as more effective sharing of products and investments with partner Renault. The strategy, part of a three-year global turnaround plan due to be unveiled on May 28, would see the Japanese […]

U.S. homebuilder confidence rises in May

Confidence among U.S. single-family homebuilders rose in May, potentially signaling that the worst of the economic downturn was probably over as the country gradually reopens after lockdowns to slow the spread of the novel coronavirus. The National Association of Home Builders/Wells Fargo Housing Market Index rose seven points to 37 this month after a record […]

SoftBank’s Son hopes ‘winged unicorns’ can save crumbling tech empire

SoftBank Group Corp (9984.T) CEO Masayoshi Son on Monday pinned his hopes on a small group of “winged unicorns” to save the performance of his $100 billion Vision Fund – although he gave few clues on which ones they would be. Announcing a record annual loss for his tech conglomerate, and an $18 billion shortfall […]

Walmart trailed supermarkets amid peak panic-buying: data

Americans increased their visits to supermarkets far more than to Walmart Inc (WMT.N) stores as panic-buying peaked in mid-March. Yet by early May, visits to Walmart had rebounded and were outpacing visits to supermarkets, according to the analysis. The data offers a snapshot of some of the dramatic changes in Americans’ shopping patterns in the […]

Amazon’s French warehouses to reopen with 30% staff: unions

Amazon’s French warehouses are set to reopen on Tuesday with about 30% of employees, three union officials said, ending a month-long dispute over whether the e-commerce giant was doing enough to protect workers from the coronavirus pandemic. The U.S. retailer’s six French warehouses have been closed since a court backed union complaints, and ordered Amazon […]