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Updated: 3 years 47 weeks ago
Top Boeing shareholder Vanguard says it voted against chair Kellner
Top Boeing Co shareholder Vanguard Group voted against the company's chairman Lawrence Kellner, citing "control failures" under its audit committee after two 737 MAX plane crashes, according to a stewardship report issued on Wednesday that will further pressure the planemaker.
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White House adviser sees 'cash' phase of economic rescue winding down
With the U.S. economy poised for a sharp rebound, it is time for policy to move from a "cash" rescue phase to focus on more long-term measures that can underpin growth, a top White House adviser said on Wednesday.
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KFC operator Yum's same-store sales, profit falls as lockdowns bite
Yum Brands Inc reported a 7% fall in quarterly comparable store sales on Wednesday, as many restaurants across its brands were closed or limited to delivery and take-away due to lockdowns to curb the spread of the novel coronavirus.
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Wall Street jumps on hopes of potential coronavirus drug
Wall Street jumped on Wednesday as Gilead Sciences gave an encouraging update on a potential COVID-19 treatment and upbeat earnings from Google-parent Alphabet boosted shares of other technology and internet giants.
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Shares gain after encouraging COVID-19 drug data, oil jumps
A gauge of global stocks climbed on Wednesday following encouraging news for an experimental COVID-19 treatment and some positive earnings reports, while beaten-up oil prices surged.
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COVID-19 has 'changed everything', RBS Chairman says
Royal Bank of Scotland chairman Howard Davies said on Wednesday the coronavirus pandemic had "changed everything" and its impact on society and the economy would likely be "stark and long-lasting".
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Swiss government works with UBS, Credit Suisse on aviation sector loans
The Swiss government is working primarily with UBS Group and Credit Suisse on a nearly 1.9 billion Swiss franc ($1.95 billion) package of state-backed loans for the coronavirus-hit aviation sector, it said on Wednesday.
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Boeing to cut workforce and production as it braces for years-long industry recovery
Boeing Co said on Wednesday it would cut its workforce by about 10%, further reduce 787 Dreamliner production and try to boost liquidity as it prepares for a years-long industry recovery from the coronavirus pandemic that drove the planemaker to a net loss for the second straight quarter.
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Luckin Coffee delays annual filing amid accounting probes
Luckin Coffee Inc said on Wednesday it would not file its annual financial report on time as it was dealing with investigations into hundreds of millions of dollars worth of fabricated sales.
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McConnell says business protection a condition for next COVID bill
U.S. Senate Majority Leader Mitch McConnell on Wednesday doubled down on his demand that Congress protect businesses from coronavirus-related liabilities in its next legislative package for combating the pandemic.
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Airbus first-quarter profit plunges as coronavirus crisis starts to bite
Airbus on Wednesday posted a 49% slump in first-quarter core profit and called for an industry-wide campaign to restore confidence in flying after the coronavirus pandemic triggered the "gravest crisis the aerospace industry has ever known".
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Boeing to cut workforce, seek liquidity as coronavirus leads to quarterly loss
Boeing Co said on Wednesday it would cut its workforce by about 10%, further reduce 787 Dreamliner production and try to boost liquidity as the coronavirus pandemic drove the planemaker to a net loss for the second straight quarter.
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Corona what? Tesla retail investors appear unfazed by virus impact
When Tesla Inc reports first-quarter results after the bell on Wednesday, many individual shareholders will not be looking for details on the subject that drives most conversations: the effect of the novel coronavirus pandemic.
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Fed likely to renew pledge to use all tools to brace economy
The Federal Reserve, which has pumped trillions in emergency funding into U.S. financial markets to stem the damage from the coronavirus pandemic, is expected on Wednesday to reiterate its promise to do whatever it takes to support the world's largest economy.
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KFC operator Yum's same-store sales, profit as lockdowns bite
Yum Brands Inc reported a 7% fall in quarterly comparable store sales on Wednesday, as many restaurants across its brands were closed or limited to delivery and take-away due to lockdowns to curb the spread of the novel coronavirus.
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Wall Street set to jump at open on hopes of potential coronavirus drug
Wall Street looked set to jump at open on Wednesday after Gilead Sciences reported an encouraging update on a potential COVID-19 treatment, while upbeat earnings reports from Google-parent Alphabet and Boeing boosted the mood.
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Boeing to cut workforce by 10% and reduce 787 production due to pandemic
Boeing Co said on Wednesday it would cut its workforce by about 10% and further reduce 787 Dreamliner production after reporting a loss for the second straight quarter as the coronavirus pandemic hits global travel demand.
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AirAsia to halt Airbus deliveries and review orders
AirAsia Group , one of Europe's top five corporate export customers, will stop taking deliveries of Airbus jets this year and review its remaining orders as the coronavirus crisis heaps pressure on the Malaysian carrier.
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Futures jump after Gilead's COVID-19 drug meets main goal
U.S. stock index futures jumped on Wednesday after Gilead Sciences said its experimental antiviral drug met the main goal of a trial testing it in COVID-19 patients.
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Coronavirus hammered U.S. economy in first quarter
The U.S. economy contracted in the first quarter at its sharpest pace since the Great Recession as stringent measures to slow the spread of the novel coronavirus almost shut down the country, ending the longest expansion in the nation's history.
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