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Updated: 4 years 27 weeks ago
Virus-hit U.S. state revenue could start slow recovery in third quarter: analysts
U.S. state tax revenue, which plunged due to the economic fallout from the coronavirus pandemic, could start to slowly recover this summer as long as the outbreak does not undergo a resurgence, analysts said.
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Apple must face U.S. shareholder lawsuit over CEO's iPhone, China comments
A federal judge said Apple Inc must face part of a lawsuit claiming it fraudulently concealed falling demand for iPhones, especially in China, leading to tens of billions of dollars in shareholder losses.
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Wall Street surges on signs of economic rebound
Wall Street jumped in a broad rally on Wednesday, closing ground on all-time highs as signs of recovery from mandated economic shutdowns helped investors look beyond ongoing social unrest and pandemic woes.
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New U.S. restrictions on 33 Chinese firms and institutions take effect June 5
The U.S Commerce Department said on Wednesday that new restrictions on 33 Chinese firms and institutions it announced last month will take effect Friday.
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Oil hovers below $40 as doubts emerge over next step on OPEC cuts
Oil pulled back slightly on Wednesday after briefly jumping above $40 a barrel, the highest since March, retreating as doubts emerged about the timing and scale of a potential extension to the pact between OPEC and its allies to cut crude supplies.
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Citigroup chief compliance officer Mark Carawan retires
Citigroup Inc said on Wednesday its chief compliance officer Mark Carawan is retiring after eight years at the firm, effective June 8.
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Walmart removes firearms, ammunition from floor display as protests rage in U.S.
Walmart Inc said on Wednesday it shifted firearms and ammunition out of sales floors of some U.S. stores amid nationwide protests over the death of an unarmed black man at the hands of police last week.
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Gilead's remdesivir could see $7 billion in annual sales on stockpiling boost: analyst
Gilead Sciences Inc's potential COVID-19 treatment, remdesivir, could bring in more than $7 billion in annual sales by 2022, spurred by governments stockpiling the drug to guard against future outbreaks, SVB Leerink said on Wednesday.
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Heads of U.S. automakers, other Michigan companies condemn racism, injustice
Top executives of the Detroit Three automakers and other major Michigan employers on Wednesday condemned racism and injustice in the United States following the death last week of an unarmed black man at the hands of Minneapolis police, carefully joining a charged national debate.
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Wall Street rises on Boeing, economic recovery hopes
A jump in Boeing shares led Wall Street higher on Wednesday, with investors hopeful of a rebound from a coronavirus-led economic slump amid continuing social unrest in the country.
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Global smartphone shipments to fall 12% this year on virus woes: IDC
Global smartphone shipments will fall nearly 12% to 1.2 billion units in 2020, market research firm IDC said on Wednesday, citing lower consumer spending due to the economic impact of the coronavirus crisis.
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Coty in talks to collaborate with Kim Kardashian for cosmetics line
Coty Inc is in talks with reality TV star Kim Kardashian West over a potential collaboration for a beauty line, the cosmetics maker disclosed in a regulatory filing on Wednesday.
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TUI strikes compensation deal with Boeing, delays 737 MAX deliveries
Europe's biggest travel company, TUI Group , said it has struck a deal with Boeing for compensation and deferred deliveries of the grounded 737 MAX jet, boosting its finances as it seeks to survive the coronavirus pandemic.
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Wall Street gains on Boeing boost, recovery hopes
A jump in Boeing shares lifted Wall Street on Wednesday, with investors remaining optimistic about an economic rebound from a coronavirus-led slump amid continuing social unrest in the country.
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LVMH's takeover of Tiffany seen as uncertain: WWD
French luxury goods group LVMH's $16.2 billion takeover of Tiffany & Co is looking less certain as the jeweler grapples with a deteriorating situation in the U.S. market brought on by a global pandemic and severe social unrest, fashion trade publication WWD reported on Tuesday.
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Nissan warns UK plant 'unsustainable' without EU trade deal: BBC
Nissan's car manufacturing plant in Sunderland, northern England, which employs 7,000, is "unsustainable" if Britain leaves the European Union without a trade deal, it said on Wednesday.
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Global shares, euro climb on robust risk appetite as lockdowns ease
A gauge of global equity markets rose and the euro gained against the dollar on Wednesday, both for a seventh session, in signs of strong risk appetite as easing lockdowns and hopes for more monetary stimulus boosted investor confidence.
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Deutsche Bank faces action from NY regulators over Epstein ties: sources
Deutsche Bank could face enforcement action by New York regulators investigating its ties to the late U.S. financier and accused sex offender Jeffrey Epstein, two sources familiar with the investigation told Reuters on Wednesday.
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France nears 1-billion-euro crisis fund for aero suppliers: sources
French government and industry officials are negotiating a 1-billion-euro, privately led investment fund for small aerospace suppliers in which major manufacturers could invest 200 million euros, people familiar with the proposals said on Wednesday.
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Oil falls from $40 as doubts emerge over next step on OPEC cuts
Oil fell on Wednesday after jumping for awhile above $40 a barrel, the highest since March, then retreating as doubts emerged about the timing and scale of a potential extension to the pact between OPEC and its allies to cut crude supplies.
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