June 18, 2020 - Page 2 of 6 - WallStreetReview

Kroger says demand easing after coronavirus stockpiling

June 18, 2020 WallStreetReview

(Reuters) – U.S. supermarket chain Kroger Co (KR.N) stopped short of raising its annual forecasts on Thursday, saying a coronavirus-driven surge in demand for essential goods was fading as American households reconsider what they have on their shelves. FILE PHOTO: Customers browse grocery store shelves inside Kroger Co.’s Ralphs supermarket amid fears of the global growth of coronavirus cases, in... Read More

Wirecard scrambles to find missing $2.1 billion as loan crunch looms

June 18, 2020 WallStreetReview

BERLIN (Reuters) – Wirecard’s auditor has refused to sign off its 2019 accounts over a missing $2.1 billion, sending its shares down more than 60% as the German payments firm warned the delay could cause billions in loans to be called in as early as Friday. FILE PHOTO: An employee of Wirecard AG, an independent provider of outsourcing and white... Read More

U.S. gasoline demand recovery falters as refiners ramp up output

June 18, 2020 WallStreetReview

NEW YORK (Reuters) – A recovery in demand for gasoline in the United States, the world’s largest market for the motor fuel, hit a plateau last week as coronavirus cases surged in some states, undercutting refiners’ efforts to ramp up low fuel production. FILE PHOTO: Two men in medical masks walk in front of a closed gas station, due to... Read More

Oil edges up on OPEC output cut compliance; pandemic still weighs

June 18, 2020 WallStreetReview

FILE PHOTO: General view of oil tanks and the Bayway Refinery of Phillips 66 in Linden, New Jersey, U.S., March 30, 2020. REUTERS/Mike Segar NEW YORK (Reuters) – Oil prices rose slightly Thursday as a panel of OPEC and its allies met to review record oil supply cuts, even as the market remained concerned about additional coronavirus cases reported in... Read More

S&P 500, Dow muted as virus cases rise, jobless claims weigh

June 18, 2020 WallStreetReview

(Reuters) – The S&P 500 and the Dow were largely unchanged on Thursday as investors stayed on the sidelines amid an uptick in coronavirus infections in parts of the United States and an elevated level of weekly jobless claims. Traders exit the 11 Wall St. door of the New York Stock Exchange (NYSE) in New York City, New York, U.S.,... Read More

U.S. labor market recovery stalling; second wave of layoffs underway

June 18, 2020 WallStreetReview

WASHINGTON (Reuters) – The number of Americans filing for unemployment benefits fell last week, but the pace of decline appears to have stalled amid a second wave of layoffs as companies battle weak demand and fractured supply chains, supporting views that the economy faces a long and difficult recovery from the COVID-19 recession. The Labor Department’s weekly jobless claims report... Read More

World stock markets slip on second wave virus fears, safe-havens rise

June 18, 2020 WallStreetReview

NEW YORK/LONDON (Reuters) – Global stock markets drifted lower on Thursday as an increase in new coronavirus cases in some U.S. states and China crushed hopes of a swift economic comeback from the pandemic, underpinning demand for safe-haven currencies such as the dollar and Japanese yen. Traders wear masks as they work on the floor of the New York Stock... Read More

U.S. retail foot traffic rebounds, more staff at work, as lockdowns ease

June 18, 2020 WallStreetReview

(Reuters) – Retail foot traffic recovered to approach pre-lockdown levels last week and businesses appeared to bring more employees back to the job, according to data from firms that collect cellphone location information and manage employee time for companies. FILE PHOTO: Shoppers enter a grocery store near a sign requesting social distancing, following reports of coronavirus disease (COVID-19) cases in... Read More

Saudi Aramco cuts hundreds of jobs amid oil market downturn, sources say

June 18, 2020 WallStreetReview

The logo of Aramco is seen as security personnel stand before the start of a press conference by Aramco at the Plaza Conference Center in Dhahran, Saudi Arabia November 3, 2019. REUTERS/Hamad I Mohammed DUBAI (Reuters) – State oil giant Saudi Aramco (2222.SE) started laying off hundreds of employees this month, two sources familiar with the matter said, as global... Read More

Coronavirus raises stakes as auto unions ready for a fight

June 18, 2020 WallStreetReview

PARIS/FRANKFURT (Reuters) – The coronavirus crisis has forced carmakers to speed up layoffs that must be matched with hefty payouts and deft negotiation to retain the support of powerful trade unions vital if Europe’s auto industry is to manage a shift to low-emission vehicles. FILE PHOTO: A worker wears a protective mask at the Volkswagen assembly line after VW re-starts... Read More