All About Everything

Shell Swings to Historic Loss as Pandemic Devastates Oil Demand

Royal Dutch Shell RDS.A 0.97% PLC swung to its first quarterly loss since its formation over a decade ago and warned that the outlook for oil-and-gas demand continued to be uncertain, illustrating the scale of damage Covid-19 is wreaking on the industry.

Republicans and Democrats Find a Point of Agreement: Big Tech Is Too Powerful

If the partisans of America's elected leadership seem to agree on almost nothing these days, Wednesday's Big Tech antitrust hearing was stark evidence that they do share one common target. Despite what were sometimes cantankerous and politically ...

Big Tech is worth even more the day after Congressional grilling

The four chief executives of Apple, Amazon, Facebook and Google just faced a 5-hour deluge of probing and pointed questions from a Congress accusing the companies of various anticompetitive behaviors. Just a day later, all four companies were worth ...

Germany's Economy Suffers Biggest Contraction on Record, but Green Shoots Emerge

FRANKFURT—Germany suffered a record economic contraction in the second quarter as measures to slow the pandemic's spread closed businesses and kept consumers at home, but Europe's powerhouse is nonetheless expected to shrink by less and ...

Amazon, Apple, Facebook, And Alphabet All Prepare To Report Earnings After Closing Bell

Key Takeaways: Fireworks after the close today as four FAANGs report earnings; Market seems appreciative of Fed's promise to keep stimulus going; Trepidation develops as Congress appears far from stimulus deal. There's the old trader adage, "buy the ...

COVID-19 crushes US economy in second quarter; rising virus cases loom over recovery

WASHINGTON (Reuters) - The U.S. economy suffered its biggest blow since the Great Depression in the second quarter as the COVID-19 pandemic shattered consumer and business spending, and a nascent recovery is under threat from a resurgence in ...

Investor's Business Daily

UPDATE 1-EXCLUSIVE-Exxon prepares spending, job cuts in last ditch move to save dividend

(Updates to include global employees also subject to performance-related cuts). By Jennifer Hiller, Ron Bousso and Dmitry Zhdannikov. HOUSTON, July 30 (Reuters) - Exxon Mobil Corp is preparing deep spending and job cuts, according to people familiar ...

US second-quarter GDP falls at steepest rate since Great Depression

CNN

(Reuters) - The U.S. economy contracted at its steepest pace since the Great Depression in the second quarter as the COVID-19 pandemic shattered consumer and business spending, and a nascent recovery is under threat from a resurgence in new cases of ...

Economists, markets brace for worst GDP numbers since the Great Depression

When the Commerce Department releases the latest snapshot of how much the economy shrank from April to June, the staggering drop will not be a surprise. Instead, economists say the data will offer just one more reminder of the pain felt earlier this year by ...

Fed Chair Powell: COVID-19 Is Driving The US Economy

Federal Reserve Chair Jerome Powell warns that the road back from the economic impacts of the coronavirus pandemic will be a long one. In Wednesday's Federal Open Market Committee (FOMC) press conference, Powell acknowledged the contributions of ...