The outbreak of the coronavirus has dealt a shock to the global economy with unprecedented speed. Following are developments Thursday related to the global economy, the work place and the spread of the virus.
EARNINGS RESULTS: The busiest week of the earnings season continues, with companies making gains in some areas of their business but struggling in others.
— American Airlines reported a staggering loss of $2.24 billion for the first quarter, when the coronavirus pandemic triggered a sharp drop in air travel.
— Most McDonald’s restaurants in the U.S. and China are now open for drive-thru and delivery, but global lockdown orders still took a bite out of the company’s first-quarter sales. The chain’s sales fell 6% to $4.71 billion in the January-March period. Declines have persisted in April.
— Comcast’s net income slid in the first three months of the year as the pandemic…
Source news reuters.com, click here to read the full news.