Reuters Business News

Walmart Inc will stop keeping personal care products designed for people of color in locked display cases, the retailer said, after the practice drew flak online with many saying it suggested customers for these products cannot be trusted.

Amazon.com Inc on Wednesday said it was implementing a one-year moratorium on police use of its facial recognition software, halting a business it long defended as many protested law enforcement brutality against people of color.

Asian shares eased on Thursday while bonds rallied after a downbeat economic outlook from the U.S. Federal Reserve stoked speculation it would have to add to already historic levels of stimulus to safeguard recovery.

Tyson Foods Inc said on Wednesday it was cooperating with the U.S. Department of Justice on a price-fixing investigation in the poultry industry, under a program that could protect the meat processor from criminal prosecution.

Ford Motor Co said on Wednesday it will recall 2.15 million U.S. vehicles with potentially faulty door latches.

Goldman Sachs Group Inc said on Wednesday it plans to start the return of an initial group of its employees to its offices in New York, Jersey City, Dallas and Salt Lake City from June 22.

In the past, U.S. corporations have largely remained silent as protests erupted over killings of African-Americans by police officers. That changed with the May 25 death of George Floyd in Minneapolis, which has set off a flurry of corporate statements of solidarity with the black community – along with pledges of more than $1.7 billion to advance racial justice and equity.

Oil prices fell in early trade on Thursday on worries about slow demand growth with coronavirus cases rising, U.S. crude stockpiles hitting an all-time high and the U.S. Federal Reserve projecting recovery from the pandemic would take years.

Lufthansa admitted on Wednesday that the positions of up to 26,000 employees are surplus to requirements, suggesting many more jobs will be cut at the German carrier than a figure of more than 10,000 flagged a few weeks ago.

Boeing Co is aiming to conduct a key certification test flight on its grounded 737 MAX jet in late June, two people briefed on the matter said on Wednesday.

The U.S. Federal Reserve on Wednesday signaled it plans years of extraordinary support for an economy facing a torturous slog back from the coronavirus pandemic, with policymakers projecting the economy to shrink 6.5% in 2020 and the unemployment rate to be 9.3% at year's end.

Asian stocks were set to fall on Thursday after gloomy economic projections from the U.S. Federal Reserve sent the greenback and most Wall Street shares lower.

American Airlines Chief Executive Doug Parker said on Wednesday that he expects a daily cash burn of about $40 million in June, down from a previous forecast of $50 million per day, thanks to cost-savings measures to address the coronavirus pandemic.

The White House wants a plan in place by Sept. 1 for airlines to collect contact tracing information from U.S.-bound international passengers, but will not immediately implement a Centers for Disease Control and Prevention (CDC) proposal, three people briefed on the matter said on Wednesday.

Amazon.com Inc on Wednesday said it was implementing a one-year moratorium on police use of its facial recognition software, reversing its long-time support of selling the technology to law enforcement.

Men's Wearhouse owner Tailored Brands Inc said on Wednesday it may have to seek bankruptcy protection or discontinue operations, if the COVID-19 crisis continues to pummel sales.

The Dow and S&P 500 ended a choppy session lower on Wednesday after the Federal Reserve reassured investors of its support for the economy but projected a 6.5% decline in gross domestic product this year.

Starbucks Corp said on Wednesday it expects current-quarter operating income to plunge by up to $2.2 billion, and sales to decline for the rest of the year even as nearly all its cafes have reopened following easing of coronavirus lockdowns.

Amazon.com Inc on Wednesday said it was implementing a one-year moratorium on police use of its facial recognition software, a reversal of its long-time defense of law enforcement's use of the technology.

At Fed Chair Jerome Powell's policy meeting press conference six weeks ago he talked repeatedly about the possibility of second and third waves of the novel coronavirus in the months ahead and the havoc that could wreak on the U.S. economy.