Reuters

Lyft promises switch to 100% electric vehicles by 2030

Reuters Business News - Wed, 06/17/2020 - 13:56
Ride-hailing company Lyft Inc on Wednesday said every vehicle on its ride-hailing and rental car platform will be electric by 2030, but it would not provide direct financial support to drivers for switching from gas-powered cars.
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U.S. Justice Department proposes rolling back protections for big tech

Reuters Business News - Wed, 06/17/2020 - 13:37
The U.S. Justice Department proposed on Wednesday that Congress take up legislation to curb protections that big tech platforms like Alphabet's Google and Facebook have had for decades, a senior official said, following through on U.S. President Donald Trump's bid to crack down on tech giants.
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Main Street's boldest take on Wall Street in bankruptcy stock frenzy

Reuters Business News - Wed, 06/17/2020 - 13:36
When Bryan Quevedo received his U.S. government stimulus check last month, he invested $1,000 in the stock of bankrupt car rental company Hertz Global Holdings Inc.
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PepsiCo to drop Aunt Jemima name, criticized for racist history; Uncle Ben's under review

Reuters Business News - Wed, 06/17/2020 - 13:36
PepsiCo Inc will change the name and brand image of its Aunt Jemima pancake mix and syrup, it said on Wednesday, dropping a mascot that has been criticized for a racist history.
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Lufthansa warns of threat to its $10 billion bailout deal

Reuters Business News - Wed, 06/17/2020 - 13:35
German airline Lufthansa , responding to investor criticism of a state-backed rescue deal, warned it might need to apply for protection from creditors if the bailout plan failed to win shareholder approval.
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Adidas rejects investigating HR chief in race row

Reuters Business News - Wed, 06/17/2020 - 13:33
Adidas rejected on Wednesday a call by employees to investigate the German sportswear brand's human resources chief over her handling of racism at the company after she described it last year as "noise" only discussed in America.
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Several U.S. banks to close branches, offices early for Juneteenth

Reuters Business News - Wed, 06/17/2020 - 13:29
Several U.S. banks are closing branches and offices early on Friday to observe the Juneteenth holiday, which commemorates the day in 1865 when the last group of enslaved African Americans learned slavery was abolished.
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Wall Street advances on prospect of economic rebound

Reuters Business News - Wed, 06/17/2020 - 13:14
Wall Street gained ground on Wednesday as signs of economic recovery helped investors look past spiking pandemic data and the potential of a new round of economic lockdowns.
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LATAM Airlines suspends Argentina operations, blaming COVID-19 and government

Reuters Business News - Wed, 06/17/2020 - 13:09
LATAM Airlines Group said on Wednesday its Argentine subsidiary will cease operations indefinitely, canceling all domestic flights, its first major cutback since filing for bankruptcy protection.
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LATAM Airlines suspends Argentina operations, blaming COVID and government

Reuters Business News - Wed, 06/17/2020 - 13:01
LATAM Airlines Group on Wednesday said its Argentine subsidiary will cease operations indefinitely, canceling all domestic flights, its first major cutback since filing for bankruptcy protection.
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U.S. lawmaker says seeking bipartisan legislation on airline mask rules

Reuters Business News - Wed, 06/17/2020 - 12:32
A U.S. senator said on Wednesday he was hoping for bipartisan support in Congress for mandatory rules on masks for air travel after the head of the Federal Aviation Administration again resisted calls for a mandate.
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Oil slips as fresh COVID-19 outbreaks face draw in U.S. fuel stocks

Reuters Business News - Wed, 06/17/2020 - 12:28
Oil prices edged lower on Wednesday as a drawdown in U.S. distillate stockpiles for the first time since March and a sharp drop in U.S. crude production faced concerns over fuel demand due to fresh outbreaks of COVID-19.
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S&P 500, Dow muted as rising COVID-19 cases dent recovery hopes

Reuters Business News - Wed, 06/17/2020 - 12:25
The S&P 500 and the Dow edged higher in choppy trading on Wednesday as hopes of a swift recovery from a coronavirus-driven downturn were dented by fears of a record rise in coronavirus cases in six U.S. states.
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LATAM Airlines to suspend operations in Argentina indefinitely

Reuters Business News - Wed, 06/17/2020 - 12:00
LATAM Airlines Group on Wednesday said it will cease operations at its Argentine subsidiary "indefinitely," its first major cutback since Latin America's largest airline filed for bankruptcy protection last month.
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U.S. homebuilding rises moderately; jump in permits hints at green shoots

Reuters Business News - Wed, 06/17/2020 - 11:59
U.S. homebuilding increased less than expected in May, but a strong rebound in permits for future home construction suggested the housing market was starting to emerge from the COVID-19 crisis along with the broader economy.
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Stocks seesaw as rising coronavirus cases offset recovery hopes

Reuters Business News - Wed, 06/17/2020 - 11:36
Equity markets around the world seesawed on Wednesday as the prior day's rally on economic and vaccine hopes faded, while fresh coronavirus outbreaks and rising geopolitical tensions in Asia boosted demand for the dollar and safe-haven debt.
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Powell repeats Fed to use full range of tools to aid economy

Reuters Business News - Wed, 06/17/2020 - 11:29
With a full U.S. economic recovery out of reach until the coronavirus pandemic is brought to heel, the Federal Reserve will use its "full range of tools" to cushion households and businesses, Fed Chair Jerome Powell told lawmakers on Wednesday.
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Insider-trading investigation against U.S. senator dismissed

Reuters Business News - Wed, 06/17/2020 - 11:19
The U.S. Senate Ethics Committee has cleared Senator Kelly Loeffler of wrongdoing in connection with stock trades, her office said on Wednesday, after the wealthy Republican - who is in a tough election race - was criticized over share sales during the coronavirus outbreak.
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U.S. shale companies to boost oil output by 500,000 bpd by month-end

Reuters Business News - Wed, 06/17/2020 - 11:10
U.S. shale producers are expected to restore roughly half a million barrels per day (bpd) of crude output by the end of June, according to crude buyers and analysts, amounting to a quarter of what they shut since the coronavirus pandemic cut fuel demand and hammered oil prices.
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Citing 'racial stereotype,' PepsiCo to drop Aunt Jemima name; Uncle Ben's under review

Reuters Business News - Wed, 06/17/2020 - 11:07
PepsiCo Inc will change the name and brand image of its Aunt Jemima pancake mix and syrup, it said on Wednesday, dropping a mascot that has been criticized for a racist history.
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