Category: Business

Shares of Expedia Group Inc (EXPE.O) rose 9% on Wednesday after a report that the online travel services company was in advanced talks to sell a stake to private-equity firms Silver Lake Partners and Apollo Global Management Inc (APO.N) for about $1 billion. The talks, which were reported here by the Wall Street Journal on […]

AT&T Inc (T.N) pulled its financial forecast for the year on Wednesday as the impact of the coronavirus pandemic clouded its view for the foreseeable future. Although the company reported revenue and profit per share that was short of Wall Street expectations in the first quarter, a surge in new phone subscribers sent shares up […]

The euro zone economy is already in its deepest recession on record, who have stuck to a bleak outlook and worry the downturn might be even worse as coronavirus lockdowns across the bloc take their toll. That comes despite the European Central Bank pledging to buy more than 1 trillion euros in assets this year […]

Nasdaq Inc (NDAQ.O) reported higher-than-expected first-quarter profits on Wednesday, benefiting from market volatility fueled by the coronavirus crisis, but the transatlantic exchange operator also warned of uncertainty ahead. Trading volumes surged as global financial markets were ravaged by the rapid spread of the pandemic in the quarter, leading to a big increase in transactional revenues […]

Oil producer countries may have to cut output more than the record amount already agreed to tackle an “unprecedented” slump in prices, Iranian Oil Minister Bijan Zanganeh was quoted as saying on Wednesday by the ministry’s website SHANA. OPEC+, comprising the Organization of the Petroleum Exporting Countries, Russia and other producing nations, has partnered with […]

Iran will not suffer as much as other countries from the oil price plunge as it is less reliant on crude exports, its president said on Wednesday, with the state budget depending far less than before on oil revenue due to U.S. sanctions. But as a major crude producer, Iran’s economy has been hit hard […]

Lord & Taylor is exploring filing for bankruptcy protection after it was forced to temporarily shut all of its 38 U.S. department stores in the wake of the coronavirus outbreak, people familiar with the matter said on Monday. It is one of several options that the retailer and its advisers are exploring, which also include […]