WarnerMedia Plans More Layoffs as Virus Bites
“Like the rest of the entertainment industry, we have not been immune to the significant impact of the pandemic."
Weekly Jobless Claims Fall Slightly to 840,000
"Hanging around the 800k+ level is still not a good place to be, especially going into the winter."
CFOs Skeptical About Recovery Before Next Year
"All indicators from The CFO Survey point towards a slow return to normal that is challenging to forecast due to the uncertainty created by this virus.”
Health Benefit Costs Seen Rising 8.1% in 2021
The coronavirus had "a major impact" on slowing medical cost growth this year but the trend "is expected to be short-lived," a survey finds.
U.S. Job Gains Slow to 661,000 in September
“The pace of jobs recovery apparent in today’s report suggests that we will be counting the employment recovery in years, not months or quarters."
Rolls-Royce to Raise $6.5B to Ease Cash Crunch
The U.K. engineering company “has been driven to the fundraising by the worst crisis to hit the aviation industry."
Banks Wary of Fed’s Main Street Loan Program
Loan officers cited the financial condition of borrowers and overly restrictive terms for not approving loans under the key pandemic relief plan.
Costco Posts 11.4% Same-Store Sales Increase
The big-box retailer continued to benefit from shoppers stocking up on everything from food to patio furniture.
General Mills Sales Rise on At-Home Food Demand
The cereal maker's Q1 results were "highlighted by broad-based market share gains amid elevated at-home food demand due to the COVID-19 pandemic."
Digital Sales Surge Fuels Nike Earnings Beat
“We know that digital is the new normal. The consumer today is digitally grounded and simply will not revert back."
OECD Revises Growth Forecast Upward for 2020
The group is now predicting a 4.5% contraction for this year, citing the swift recovery in output since coronavirus containment measures were eased.