Top CEOs Urge Congress to Save Small Firms
More than 100 executives said small businesses need "much more significant and sustained support" than the PPP to weather the COVID-19 pandemic.
Men’s Wearhouse Owner Files for Bankruptcy
Tailored Brands is the latest of more than 20 private and public retailers to have declared bankruptcy this year.
Noble Corp. Files Chapter 11 to Slash $4B in Debt
"The development of COVID-19 into a global pandemic erased any doubt as to whether Noble would be able to avoid bankruptcy,” the offshore rig operator said.
U.S. Consumer Spending Rises 5.6% in June
"The explosion of COVID-19 infections ... is casting doubt on the magnitude of the expected surge in third-quarter consumer spending."
Stay-at-Home Demand Drives Apple Growth
The company reported increased third-quarter sales across all its products, with even the iPhone up more than 1% from a year ago.
U.S. Economy Shrinks by Record 32.9% in Q2
“It’s a very deep and dark hole and we’re coming out of it, but it’ going to take a long time to get out.”
PayPal Crushes Estimates, Posts 25% Sales Gain
“Our record performance in the second quarter — our strongest quarter ever — reaffirms the relevance of PayPal in the unfolding digital future."
GM Posts $806M Loss, 47% Drop in Sales
The automaker sees stronger sales ahead with its plants now back in production after coronavirus-related shutdowns.
Visa Profit Drops 23% as Card Spending Slows
Payments volume improved as the third quarter progressed, reflecting the easing of shelter-in-place orders in the U.S.
Harley-Davidson U.S. Sales Plunge 27% in Q2
"A total rewire is necessary to make Harley-Davidson a high-performance company,” CEO Jochen Zeitz says after Harley also reported a surprise loss.
U.S. Durable Goods Orders Jump 7.3% in June
“The sugar rush from re-openings has now faded and a resurgence of domestic coronavirus cases ... will weigh heavily on business investment."