Reuters Business News

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.