Reuters
Oil falls on rise in U.S. crude stocks, virus resurgence fears
Oil prices retreated on Wednesday, weighed down by an increase in U.S. crude inventories and worries about a potential second wave of the coronavirus pandemic.
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Amazon to use AI tech in its warehouses to enforce social distancing
Amazon.com Inc on Tuesday launched an artificial intelligence-based tracking system to enforce social distancing at its offices and warehouses to help reduce any risk of contracting the new coronavirus among its workers.
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Trump team prepares $1 trillion infrastructure plan to spur economy
The Trump administration is preparing an up to $1 trillion infrastructure package focused on transportation projects as part of its push to spur the world's largest economy back to life, a source familiar with the situation said on Tuesday.
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U.S. bank profits plunge 70% on coronavirus loss provisioning
U.S. bank profits fell by 69.6% to $18.5 billion in the first quarter of 2020 from the year prior as banks felt the economic impact of the novel coronavirus pandemic, according to data from a banking regulator.
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Asian stocks set to rise as drug trials, data push Wall Street higher
Asian stocks were set to climb on Wednesday after another late Wall Street surge in response to upbeat trial results for a COVID-19 treatment and data showing U.S. consumers spent big in May.
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Transparency needed to restore trust after 737 MAX crashes: FAA chief
U.S. FAA chief Steve Dickson will tell a Senate committee at a hearing on Wednesday that transparency is key to restoring public trust in the agency and planemaker Boeing Co in the wake of fatal 737 MAX crashes, according to a copy of his written testimony seen by Reuters.
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Wall Street closes higher on signs of economic recovery
Wall Street advanced on Tuesday as the prospect of additional stimulus and a record jump in retail sales suggested the U.S. economy could bounce back sooner than expected, five months into its pandemic-inflicted recession.
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Tesla signs three-year pricing deal with battery cell maker Panasonic
Tesla Inc has signed a three-year pricing deal with Japan's Panasonic Corp relating to the manufacture and supply of lithium-ion battery cells at the Gigafactory in Nevada, the electric carmaker disclosed in a filing on Tuesday.
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Southwest extends limited seating on flights through September
Southwest Airlines Co said on Tuesday it will continue to limit bookings on its flights until at least September to maintain space between passengers.
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Why some black-owned U.S. businesses are hardest hit by coronavirus shutdowns
After 15 years working as a hair stylist in other people's salons, Gary Connell opened his "Healthy Hair" studio in Montgomery County, Maryland in early March, sinking his savings into a two-chair shop in a busy mall.
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Green shoots welcome but recovery still a long road, 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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Oil prices rise 3% on signs of U.S. economic recovery
Oil prices rose 3% in volatile trade 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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Stocks and dollar gain on U.S. retail sales, drug trial
Risk appetite found new life on Tuesday on a record rebound in U.S. retail sales, fresh support from the Federal Reserve and Bank of Japan, and upbeat trial results for a COVID-19 treatment, driving global equity markets higher and boosting the dollar.
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U.S. says former eBay workers sent live roaches, bloody pig mask to intimidate critics
Six former eBay Inc employees have been criminally charged with mounting a cyberstalking campaign against a Massachusetts couple whose online newsletter they viewed as critical of the e-commerce company, U.S. prosecutors announced on Monday.
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Lufthansa shareholder Thiele raps bailout deal, raises stake
German investor Heinz Hermann Thiele sharply criticised a 9-billion-euro ($10.14 billion) bailout deal for carrier Lufthansa , saying he had raised his stake in the group to more than 15% and hoped alternative options could be explored.
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Ex-Tommy Hilfiger boss Grieder to become new Hugo Boss CEO
German fashion house Hugo Boss has appointed former Tommy Hilfiger boss Daniel Grieder as its next chief executive, it said on Tuesday.
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Stocks, dollar gain on U.S. retail sales, drug trial
A record rebound in U.S. retail sales, fresh support from the Federal Reserve and Bank of Japan, and upbeat trial results for a COVID-19 treatment boosted risk appetite on Tuesday, driving global equity markets higher and strengthening the dollar.
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Did elite David Boies law firm get a pandemic bailout? It's a secret
When the U.S. government announced a multibillion-dollar bailout of struggling small businesses amid the coronavirus pandemic, one of the top U.S. law firms sensed an opportunity.
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Appeals court sides with exchanges in U.S. SEC fee row
A U.S. appeals court ruled on Tuesday that the Securities and Exchange Commission cannot force stock exchanges to conduct a costly experiment to see how the fees they charge and the incentives they offer affect brokers' trading habits.
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Lufthansa shareholder Thiele raised stake to 15%: FAZ
German investor Heinz Hermann Thiele has raised his stake in Lufthansa , which this month agreed to a state bailout, to more than 15% from 10%, he told newspaper Frankfurter Allgemeine Zeitung in an interview.
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