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Updated: 3 years 45 weeks ago
U.S senators introduce bill to reform aircraft certification after 737 MAX crashes
A bipartisan group of U.S. senators introduced a bill on Tuesday to reform aircraft certification following two fatal Boeing Co 737 MAX crashes, lawmakers said in a statement.
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Senators introduce aviation safety bill to reform certification after 737 MAX crashes
U.S. lawmakers introduced a bipartisan bill on Tuesday that would reform aircraft certification following two fatal Boeing Co 737 MAX crashes, Senators Roger Wicker and Maria Cantwell said in a joint statement accompanying the proposal.
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Wall Street jumps on glimmers of economic recovery
Wall Street surged on Tuesday as a record jump in retail sales indicated the U.S. economy is on the road to recovery, five months into its pandemic-inflicted recession.
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Senators introduce aviation safety bill to reform aircraft certification after 737 MAX crashes
U.S. lawmakers introduced a bipartisan bill on Tuesday that would reform aircraft certification following two fatal 737 MAX crashes, U.S. Senators Roger Wicker and Maria Cantwell said in a joint release.
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Hilton to cut 2,100 corporate jobs globally
Hotel chain Hilton Worldwide Holdings Inc said on Tuesday it would cut about 22% of its corporate workforce, or 2,100 jobs, following the coronavirus outbreak that has ravaged the global travel industry.
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Wall Street jumps as May retail sales boost hopes of swift recovery
U.S. stocks advanced on Tuesday after a record surge in May retail sales revived hopes of a swift post-pandemic economic rebound, with sentiment also lifted by data showing reduced COVID-19 death rates in a trial of a generic steroid drug.
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China keen to seek benefits from pandemic, distressed U.S. assets: report
U.S. lawmakers and policymakers should be wary of China's moves to target vulnerable U.S. assets and expand its market share in the wake of the global economic crisis triggered by the novel coronavirus, according to a study prepared for a U.S. trade group and released on Tuesday.
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Oil prices rise on hopes of demand recovery
Oil prices edged higher on Tuesday as Wall Street surged and the International Energy Agency (IEA) increased its oil demand forecast for 2020, but gains were capped by worries about a second wave of coronavirus cases.
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Exclusive: Chesapeake Energy to file for bankruptcy as soon as this week - sources
Chesapeake Energy Corp is preparing to file for bankruptcy as soon as this week, said three people familiar with the matter, becoming the largest oil and gas producer to unravel after an energy market rout caused by the coronavirus outbreak.
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Fed corporate bond move relieves potential stigma for companies, say investors
The New York Federal Reserve's planned launch on Tuesday of a bond-buying facility could help ease the potential stigma for companies of asking for help and create an important framework for what the central bank steps in to purchase, analysts and investors said.
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U.S. economy starts long recovery as retail sales post record jump
U.S. retail sales increased by the most on record in May after two straight months of sharp declines as businesses reopened, offering more evidence that the recession triggered by the COVID-19 pandemic was over or drawing to an end.
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Apple's App Store, Apple Pay targeted by EU antitrust regulators
Apple is being investigated by EU antitrust regulators over its App Store and mobile payment system Apple Pay as the bloc turns up the heat on gatekeepers of online platforms on which thousands of companies depend for business.
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Factbox: What changes are companies making in response to George Floyd protests?
The corporate response to a wave of protests over the treatment of African-Americans has included pledges to increase diversity, donations to civil rights groups and, in some cases, changes in policies or practices long sought by critics. Here is a sampling:
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Fed Chair Powell says strong job market can reduce U.S. racial inequality
The best way the Federal Reserve can help reduce racial inequality is to return the U.S. labor market to its pre-coronavirus strength, U.S. Fed Chair Jerome Powell said on Tuesday, as he sidestepped questions over whether the Fed itself contributes to the problem.
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Instant View: Powell: No U.S. growth recovery until epidemic controlled
A full U.S. economic recovery will not occur until the American people are sure that the novel coronavirus epidemic has been brought under control, Federal Reserve Chair Jerome Powell said on Tuesday as he began the first of two days of hearings before U.S. lawmakers.
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Volkswagen to pay $267 million for Audi buyout
Volkswagen will pay a 48% premium to buy out the minority shareholders of premium division Audi , Audi said on Tuesday.
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Oil prices rise as Wall Street rallies, demand improves
Oil prices rose on Tuesday as Wall Street surged and the International Energy Agency (IEA) increased its oil demand forecast for 2020, but gains were capped by worries about a second wave of coronavirus cases.
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U.S. economic recovery hinges on virus being under control, Fed's Powell says
A full U.S. economic recovery will not occur until the American people are sure that the novel coronavirus epidemic has been brought under control, Federal Reserve Chair Jerome Powell said on Tuesday as he began the first of two days of hearings before U.S. lawmakers.
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European airlines face longer haul to recovery
A patchwork of national restrictions and a reluctance among travellers to cross borders mean European airlines face a bumpier return to the skies from coronavirus lockdowns than U.S. and Asian rivals.
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U.S. business inventories drop more than expected
U.S. business inventories fell more than expected in April as the COVID-19 crisis depressed imports, suggesting inventory investment could again be a drag on economic output in the second quarter.
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