The Federal Reserve expanded the criteria for its $600 billion “Main Street” lending facility on Thursday, opening the pandemic rescue program to a whole host of big, household names. A day earlier, Fed Chairman Jerome Powell said the coronavirus pandemic is likely to cause significant damage to the U.S. economy and that Congress and the […]
Apple Inc. and Amazon.com Inc. are taking drastically different approaches toward their investors, reflecting the separate challenges the tech giants face during the COVID-19 pandemic. Apple AAPL, +2.11% AAPL, +2.11% AAPL, +2.11% AAPL, +2.11% AAPL, +2.11% with its hefty cash pile growing to $193 billion, unsurprisingly committed to continue shipping billions of dollars to investors, […]
Visa Inc. saw a “significant deterioration” in spending toward the end of March amid the COVID-19 crisis, but some areas of the business seem to be improving. The company topped profit and revenue expectations Thursday afternoon, earning an adjusted $1.39 a share for the fiscal second quarter on revenue of $5.85 billion. Analysts surveyed by […]
Amazon.com Inc. unsurprisingly topped expectations for quarterly sales amid the COVID-19 pandemic, but it was comments from CEO Jeff Bezos, in a written statement accompanying the retailer’s earnings report, that really drew the focus on Wall Street Thursday evening. “ ‘If you’re a shareowner in Amazon, you may want to take a seat, because we’re […]
President Trump said Thursday that he had seen evidence to prove that the coronavirus pandemic had spread from a laboratory in Wuhan, China, but he declined to detail what that evidence was. “I’m not allowed to tell you that,” he said at a White House news conference at which he repeatedly accused China’s government of […]
Relatives of a black man gunned down while jogging in southeast Georgia by white men who chased him believing he was a burglar said Thursday they’re discouraged by the lack of charges in the case. Ahmaud Arbery’s relatives say the 25-year-old was a victim of “racial violence.” Arbery was killed in Brunswick, a coastal city […]
A federal judge late Wednesday unsealed a new set of documents provided to lawyers for Michael Flynn, the former Trump national security adviser who is seeking to withdraw his guilty plea, that could provide them with new ammunition to attack the FBI’s handling of the case. One of the pages is a handwritten note, apparently […]
Police found dozens of bodies being stored in unrefrigerated trucks outside a Brooklyn funeral home and lying on the facility’s floor Wednesday, law enforcement sources told The Post. Between 40 to 60 bodies were discovered either stacked up in U-Haul box trucks outside Andrew Cleckley Funeral Services in Flatlands or on the building’s floor, after […]
Mark Zuckerberg has spent much of the past two years facing widespread vitriol about Facebook Inc.’s huge privacy lapses, while Elon Musk has bathed in rabid fans’ lionization of him as a genius who will change the world. When confronted with the most dangerous crisis either Facebook FB, +6.16% or Tesla Inc. TSLA, +4.08% has […]
Earnings conference calls are generally dull affairs that involve a lot of talk about gross margins and average selling prices. Then there are Tesla Inc. TSLA, +4.08% earnings calls, in which anything can happen. Tesla Chief Executive Elon Musk used his conference call Wednesday afternoon to rail against shelter-in-place restrictions put in place to staunch […]