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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.

Chevron Corp will cut 10% to 15% of its worldwide workforce as part of an ongoing restructuring at the second-largest U.S. oil producer.

The dollar steadied against the euro on Wednesday even as the common currency remained supported by news of a proposal for an economic recovery package to help the euro zone region recover from the coronavirus pandemic.

Shares of biotechs racing to make coronavirus vaccines, including Moderna Inc , fell about 10% on Wednesday, as investor concerns grew about the prospects of the experimental products that are still in early stages of development.

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

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

The Dow and S&P 500 rose on Wednesday, powered by banks stocks, as optimism for an economic recovery as lockdowns continued to ease overshadowed worries of simmering U.S.-China tensions.

A group of 23 U.S. states led by California, the District of Columbia and four major cities are filing suit Wednesday to challenge a Trump administration decision to weaken Obama administration fuel efficiency standards.

Occidental Petroleum Corp has been sued by investors who claim they suffered billions of dollars of losses because the heavily indebted company concealed its inability to weather plunging oil prices, after paying $35.7 billion to acquire Anadarko Petroleum Corp.

American Airlines Group Inc's is not considering a Chapter 11 bankruptcy filing, CEO Doug Parker said in response to a question at a conference on Wednesday, but said he does expect the overall U.S. airline industry to be 10% to 20% smaller in the summer of 2021.