Reuters Business News

U.S. stocks rose on Wednesday, with the S&P 500 closing above 3,000 for the first time since March 5, as the further easing of lockdowns lifted optimism for an economic recovery.

A group of 23 U.S. states and the District of Columbia filed a lawsuit on Wednesday challenging a Trump administration decision to weaken Obama-era fuel efficiency standards.

U.S. President Donald Trump will sign an executive order shortly regarding social media companies, a White House spokeswoman said on Wednesday.

U.S. President Donald Trump on Wednesday threatened to regulate or shut down social media companies for stifling conservative voices, a day after Twitter attached a warning to some of his tweets prompting readers to fact check the president's claims.

Exxon Mobil Corp shareholders soundly rejected climate-related proposals and splitting the chairman and chief executive's roles at the oil major's shareholder meeting on Wednesday.

JPMorgan Chase & Co's head of its corporate and investment banking division said second-quarter revenues for its markets unit are on track to be up more than 50% higher than the same period last year, thanks to extremely strong fixed income and equities trading revenues.

Billionaire investor Carl Icahn said on Wednesday he had sold his entire equity position in Hertz Global Holdings Inc at a "significant loss", days after the car rental pioneer filed for bankruptcy protection.

U.S. luxury homebuilder Toll Brothers Inc on Wednesday withdrew its full-year forecast and warned it would not provide such guidance for the foreseeable future due to uncertainty caused by the COVID-19 pandemic.

United Airlines Holdings Inc is reshuffling its management team to help the airline prepare for the near-term uncertainty of travel demand, new Chief Executive Scott Kirby told employees on Wednesday, as restrictions to keep the coronavirus from spreading are lifted.

Boeing Co on Wednesday said it has resumed production of its 737 MAX passenger jet at the company’s Renton, Washington, plant at a "low rate" after halting production in January following two crashes that killed 346 people.

American Airlines Group Inc is not considering a Chapter 11 bankruptcy filing, Chief Executive Doug Parker said on Wednesday and dismissed speculation that a major U.S. carrier could disappear due to the coronavirus pandemic.

Oil futures tumbled on Wednesday after U.S. President Donald Trump said he was working on a strong response to China's proposed security law in Hong Kong and as some traders doubted Russia's commitment to deep production cuts.

U.S. logistics company FedEx Corp is close to taking a stake in German parcel delivery firm Hermes, the Handelsblatt newspaper reported on Wednesday.

U.S. stocks rose on Wednesday, with the S&P 500 closing above 3,000 for the first time since March 5, as the further easing of lockdowns lifted optimism for an economic recovery.

Japanese automaker Nissan Motor Co said Wednesday it plans to begin restarting its shuttered U.S. manufacturing operations beginning June 1.

William Ackman's hedge fund is boasting double-digit gains at a time many portfolios have sunk along with the economy during the coronavirus pandemic, after the billionaire investor plowed cash into a number of companies he already owned and dumped Warren Buffett's Berkshire Hathaway among other stocks.

MGM Resorts said on Wednesday it would re-open its Las Vegas casinos on June 4 after months of closure due to public health restrictions aimed at curbing the spread of the novel coronavirus.

Equity markets rallied on Wednesday, lifted by enthusiasm for the European Union's plans for a 750 billion euro ($823 billion) recovery fund, but crude prices slid on concerns about unrest in Hong Kong over Beijing's proposed national security laws.

Top fund manager BlackRock Inc on Wednesday said it cast an advisory vote in favor of an independent chairman at Exxon Mobil Corp and cast votes against the reelection of two directors over the company's approach to climate risks.

U.S. businesses continued to be slammed by the effects of the novel coronavirus epidemic into the middle of May, a Federal Reserve report showed on Wednesday, and few expected a swift recovery despite some signs of hope.