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What's News: Business & Finance — WSJ

This article is being republished as part of our daily reproduction of WSJ.com articles that also appeared in the U.S. print edition of The Wall Street Journal (May 1, 2020).

Nearly four million people in the U.S. filed for unemployment benefits last week, bringing total claims to more than 30 million since the surge began.

Consumer spending in the U.S. posted its steepest monthly decline in records tracing back to 1959, falling 7.5% in March. Personal income dropped 2%.

The eurozone's GDP shrank at the fastest pace on record in the first quarter, an ominous sign for the global economy.

The Fed will expand loan offerings and qualification rules for its coming $600 billion relief program for small and midsize businesses.

Amazon posted soaring quarterly sales powered by a surge in online orders, with revenue rising 26%. But profit dropped 29%.

Apple reported an uptick in quarterly revenue despite the pandemic shutting down factories and denting sales in China.

U.S. stocks finished their best month in decades on a downbeat note, with all three major indexes posting declines.

Macy's plans to reopen 68 stores on Monday in states that have loosened coronavirus restrictions.

Boeing launched a $25 billion bond offering that it said met near-term financial requirements and for now avoided federal funding.

J.Crew is preparing to file for bankruptcy protection, joining a string of retailers on the verge of unraveling.

(END) Dow Jones Newswires

May 01, 2020 02:47 ET (06:47 GMT)

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