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Updated: 4 years 30 weeks ago
Las Vegas Sands posts first-quarter loss on coronavirus woes
Las Vegas Sands Corp posted a loss for the first quarter compared to a year-ago profit, as the coronavirus pandemic slammed gaming revenue at the casino operator.
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Chevron barred from drilling, transporting oil in Venezuela: U.S official
Chevron Corp has been banned from drilling or transporting oil in Venezuela and its assets there are "mothballed" as the Trump administration cracks down on money going to the government of socialist President Nicolas Maduro, a senior U.S. official said on Wednesday.
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Facebook bets on India with $5.7 billion Reliance deal
Facebook is set to spend $5.7 billion to buy a 9.99% stake in Reliance Industries' digital arm, as it looks to roll out services for India's grocers and small businesses by capitalizing on WhatsApp's extensive reach in the country.
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Exclusive: Quibi downloads reach 2.7 million, TV feature to start in May
New streaming service Quibi, which offers entertainment and news in episodes of 10 minutes or less on mobile phones, has been downloaded more than 2.7 million times since its April 6 debut, founder Jeffrey Katzenberg told Reuters on Wednesday.
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Saudi Arabia may re-route tankers if U.S. imposes crude import ban: sources
Saudi Arabia is exploring re-routing millions of barrels of oil onboard tankers sailing to the United States if President Donald Trump decides to block imports of crude from the kingdom, shipping and trade sources say.
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Oklahoma will let struggling oil producers halt output without breaking contracts
Oklahoma's energy regulator on Wednesday ruled in favor of an oil company's request to consider unprofitable production an economic waste, marking the first victory among companies looking for state relief against low prices.
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U.S. auto sales show signs of life after gloomy coronavirus March: J.D. Power
Auto retail sales in the United States are beginning to recover from a massive slump in March due to the outbreak of the coronavirus and nationwide stay-at-home orders, according to analysts at research firm J.D. Power on Wednesday.
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Wall Street rises as oil gains, Congress readies aid package
Wall Street surged on Wednesday as oil prices recovered some ground and Congress looked on course to approve nearly $500 billion more in aid to help small businesses ride out the coronavirus crisis.
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Google Stadia gains users after giving free access for two months
Google's cloud-based game streaming service, Stadia, has witnessed a surge in users after the tech giant gifted two months of free access to its premium version for gamers sheltering at home to curb the spread of the coronavirus.
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U.S. securities regulator warns investors over Chinese company disclosures
The head of the U.S. securities regulator on Wednesday warned investors against putting money into Chinese companies as they rebalance their portfolios following market turmoil due to ongoing problems with those companies' disclosures.
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Rogers pulls 2020 outlook, misses estimates as coronavirus crisis deepens
Rogers Communications Inc pulled its 2020 forecast and reported a lower-than-expected profit on Wednesday, as widespread cancellation of sports events hammered ad sales and demand for new routers took a hit due to the lockdowns.
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Securities group asks SEC to intervene for brokers in audit-trail database fight
U.S. brokers should not be forced to sign an agreement that could make them liable for breaches of a massive new industry trading database that they have no control over, a leading financial industry trade group told regulators on Wednesday.
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SIFMA asks U.S. SEC to intervene for brokers in CAT database fight
U.S. brokers should not be forced to sign an agreement that could make them liable for breaches of a massive new industry trading database that they have no control over, a leading financial industry trade group told regulators on Wednesday.
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'A disaster': Roche CEO's verdict on some COVID-19 antibody tests
Some blood tests being marketed to tell people if they have had the new coronavirus are a "disaster", Roche Chief Executive Severin Schwan said on Wednesday as he prepares to launch the drugmaker's own antibody test next month.
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Brent crude rebounds from more-than 20-year low; U.S. oil up 20% in wild trade
Brent crude oil rebounded from two days of losses and U.S. futures surged on Wednesday, bolstered by tentative talk of additional supply cuts from OPEC producers and U.S. inventory builds that were less dire than some expected.
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U.S. auto sales begin recovery from March coronavirus drop: J.D. Power analysts
Auto retail sales in the United States are beginning to recover from a massive slump in March due to the outbreak of the coronavirus and nationwide stay-at-home orders, according to analysts at research firm J.D. Power on Wednesday.
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Quibi downloads reach 2.7 million, TV feature to start in May
New streaming service Quibi, which offers entertainment and news in episodes of 10 minutes or less on mobile phones, has been downloaded more than 2.7 million times since its April 6 debut, founder Jeffrey Katzenberg told Reuters on Wednesday.
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U.S. Treasury market faces structural issues even as liquidity improves
The recent liquidity crisis in the $17 trillion U.S. Treasury market has exposed structural problems that are unlikely to be fixed any time soon, which could lead to new bouts of volatility and make it more costly for the U.S. government to sell bonds.
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U.S. House expects to pass $500 billion coronavirus bill, avoids fight over remote voting
The U.S. House of Representatives expects to pass a nearly $500 billion coronavirus relief bill on Thursday but will put off any decision on changing its voting rules during the pandemic, avoiding a potential partisan fight.
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Next round of coronavirus business aid to be as fair as possible: Kudlow
White House economic adviser Larry Kudlow on Wednesday said the Trump administration would try to fairly distribute the next round of aid for small businesses hurt by the coronavirus outbreak, saying demand for the first round of funding was "overwhelming."
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