by Malik Runswick | May 10, 2020 | Business Economics
Intuit shares fell in after-hours trading Thursday after the tax-preparation software firm forecast revenue would decline sharply in the third quarter due to the coronavirus pandemic. Intuit said it expected revenue to fall approximately 8% to between $2.99 billion and $3 billion, citing the negative impact of COVID-19 on small business customers and the extension […]
by Malik Runswick | May 9, 2020 | Business News
The U.S. economy shed 20.5 million jobs in April, driving the unemployment rate up to a post-World War Two high and underscoring the devastating toll of the coronavirus pandemic on the labor market. The job losses were the steepest since the Great Depression, with the...
by Malik Runswick | Apr 29, 2020 | Business Economics
HSBC, Europe’s largest bank, said Tuesday it had increased loan loss provisions by more than 400% as it anticipates “severe recession events” due to the coronavirus pandemic. The increase in HSBC’s expected credit losses (ECL) for the first quarter to $3 billion from...
by Malik Runswick | Apr 24, 2020 | Business Ownership
Hershey Co. missed quarterly earnings estimates amid signs that coronavirus-related changes in consumer behavior are depressing sales in such categories as snacks. For the first quarter, Hershey earned $1.63 per share as net sales rose 1% to $2.04 billion. Analysts...
by Malik Runswick | Apr 5, 2020 | Business Ideas
Factory activity in China unexpectedly bounced back after a collapse the previous month when the country was forced into lockdown, according to an influential survey. The country’s official Purchasing Managers’ Index (PMI) rose to 52 in March – a...
