Reuters Business News

Federal Reserve policymakers, still working to fully roll out a multi-trillion-dollar effort to shore up financial markets and an economy cratered by the coronavirus pandemic, last month dove into a new debate: how best to support the economy during a recovery they now agree could be slower and more fraught than initially thought.

Online agent Expedia Inc posted a bigger quarterly loss on Wednesday, as the COVID-19 pandemic decimated travel demand and kept people under government-mandated lockdowns.

Crude prices rose and a gauge of global equities broke out of a three-week trading range on Wednesday as investors bet on a rapid recovery from the coronavirus-induced recession.

The German government has agreed on final details of a rescue package for airline carrier Lufthansa , media reported on Wednesday.

Oil prices rallied on Wednesday after U.S. crude inventories fell in the most recent week, but gains were capped by worries over the economic fallout from the coronavirus pandemic and weak refining margins.

Travel website Kayak is seeing more demand for car rentals than air travel from customers looking to avoid crowds and stay closer to home as U.S. states reopen, Chief Executive Officer Steve Hafner told Reuters on Wednesday.

Northern Trust Corp's decision to liquidate a $1.8-billion prime money market fund was seen as an outlier event by industry analysts on Wednesday, but one that could portend more problems depending on how the economy fares.

The U.S. Senate passed legislation on Wednesday that could prevent some Chinese companies from listing their shares on U.S. exchanges unless they follow standards for U.S. audits and regulations.

The three major averages on Wall St were poised for their fourth gain in five session on Wednesday as investors again bet on a swift economic recovery from coronavirus-driven lockdowns and the potential for more stimulus measures from the Federal Reserve.

Federal Reserve policymakers last month opened a broad debate over what they can and should to do to boost the effectiveness of their monetary policy tools amid the coronavirus pandemic and beyond, a detailed summary of their most recent policy-setting meeting showed Wednesday.

The world's largest airliner, the Airbus A380, took a step closer to the aviation archives on Wednesday as Air France said it would permanently axe its grounded fleet and sources said Emirates was in talks to reduce remaining deliveries.

Volkswagen withdrew on Wednesday an advert posted on its official Instagram page for its Golf cars that it admitted was racist and insulting, saying it would investigate how it came about and draw consequences.

Terms of a planned merger between Fiat Chrysler and Peugeot-owner PSA are set in stone, FCA's chairman said on Wednesday, brushing off talk that some aspects of the deal might be re-negotiated because of the COVID-19 crisis.

Buyout firm Apollo Global Management said on Wednesday it has invested $1.75 billion in Albertsons Companies Inc, a sign of confidence in the debt-laden U.S. supermarket operator whose fortunes have picked up in the coronavirus outbreak.

The Trump administration abruptly postponed an auction of oil and gas leases in New Mexico that had been scheduled to begin on Wednesday morning without providing a reason for the move.

The S&P 500 hit more than a two-month high on Wednesday as signs of additional economic stimulus raised hopes of a swift recovery from a coronavirus-driven slump.

The U.S. Labor Department will expand inspections of businesses to reduce job-site hazards related to the new coronavirus as employees begin returning to work across the country, although the policy falls short of demands by worker advocates.

BlackRock Inc is willing to drop the ask in a debt restructuring proposal to the Argentine government to between 50-55 cents on the dollar and had made the suggestion to its creditor committee, a source familiar with the group's discussions said.

German online fashion retailer Zalando proposed on Wednesday that Jennifer Hyman, the chief executive of U.S. clothing rental firm Rent the Runway, joins its supervisory board, replacing Alexander Samwer.

There will be no cap on the size of Canada's emergency loans to large companies harmed by the coronavirus pandemic but there will be multiple restrictions, the government said on Wednesday, as it recommended wearing masks in public for the first time.