Business

A technician at Regeneron Pharmaceuticals headquarters in Tarrytown, New York. Mike Segar | Reuters A rheumatoid arthritis drug made by Regeneron and Sanofi showed promise for treating the sickest coronavirus patients in a clinical trial but was not beneficial for patients with less-advanced disease, prompting the companies to stop testing the medicine in that group. The drug,
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Ruth’s Chris Steakhouse Source: Ruth’s Chris Steakhouse Ruth’s Chris Steakhouse owner, Ruth’s Hospitality Group, announced Thursday that it is repaying the $20 million it received under the federal government’s Paycheck Protection Program.  “We intended to repay this loan in adherence with government guidelines, but as we learned more about the funding limitations of the program and
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A United Airlines Boeing 787 Dreamliner sits parked at the terminal at San Francisco International Airport in San Francisco, California. Justin Sullivan | Getty Images United shares fell close to 2% in extended trading after the airline said it’s planning a fresh stock offering, the latest measure by a carrier to raise money as the
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New York Governor Andrew Cuomo speaks during a press briefing about the coronavirus crisis at the Feinstein Institutes for Medical Research, Northwell Health in Manhasset, NY. Ron Adar | Barcroft Media | Getty Images Coronavirus deaths in New York remain “horrifically high,” even as some projections of the state’s outbreak suggest it may be on
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Procter & Gamble on Friday reported that its fiscal third-quarter U.S. sales surged 10% as consumers stocked up on staples like Charmin toilet paper and Bounty paper towels ahead of the coronavirus outbreak. But the consumer products giant cut its revenue forecast for fiscal 2020, citing headwinds from foreign currency. Shares of the company rose less
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A Gilead Sciences office is shown in Foster City, California, U.S. May 1, 2018. Stephen Lam | Reuters Gilead Sciences shares surged by more than 15% in after-hours trading Thursday after details leaked of a closely watched clinical trial of the company’s antiviral drug Remdesivir appeared to show promising results in treating Covid-19. The University
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Shoppers exit a Bed Bath & Beyond store in New York. Michael Nagle | Bloomberg | Getty Images Bed Bath & Beyond reported Wednesday fiscal fourth-quarter results that topped analysts’ estimates, but warned it could not make predictions for 2020 due to the coronavirus pandemic. The company said that despite widespread, temporary store closures, it still
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The World Health Organization is turning to other countries to help fill any gaps in financing its Covid-19 response work after U.S. President Donald Trump said the United States would withhold contributions. “The United States of America has been a long-standing and generous friend to the WHO and we hope it will continue to be
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Christine McCarthy, a nurse for over 20 years and a palliative nurse for the past year, sits for a portrait on an empty hospital bed at Massachusetts General Hospital in Boston on Apr. 2, 2020. Here at the states largest hospital, staff are coping with unprecedented realities in this coronavirus pandemic and deeply worried about what
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Reported COVID-19 cases around the world approached two million on Monday, doubling in 11 days as World Health Organization officials caution patience before lifting social distancing restrictions. Covid-19 has infected more than 1,918,855 people around the world and killed at least 119,588 people, according to data compiled by Johns Hopkins University. Hopkins’ data previously showed that the cases had passed
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Jim Hackett of Ford Motor speaks at an event during the 2018 North American International Auto Show (NAIAS) in Detroit, Michigan, U.S., on Jan. 14, 2018. Andrew Harrer | Bloomberg | Getty Images Ford Motor shares dropped by about 3% after the automaker warned of a 15.7% drop in first-quarter revenue as the coronavirus depresses sales
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Restaurants in the U.S. are reeling from city- and statewide coronavirus initiatives that shut down many dining rooms essentially overnight. As Americans stay inside and refrain from going out to eat, small and independently owned restaurants are facing massive uncertainty. The National Restaurant Association estimates that 3 million industry employees have already lost their jobs,
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File photo of an almost-empty passenger plane. Laurel Chor | Getty Images The country’s largest airlines will have to compensate taxpayers for billions in payroll grants to weather coronavirus, the Treasury Department said Friday, leaving the door open to an aid structure that sparked criticism from labor unions, some lawmakers and industry members. The Treasury
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