Feed aggregator

Facebook is set to spend $5.7 billion to buy a 9.99% stake in Reliance Industries' digital arm, as it looks to roll out services for India's grocers and small businesses by capitalizing on WhatsApp's extensive reach in the country.

New streaming service Quibi, which offers entertainment and news in episodes of 10 minutes or less on mobile phones, has been downloaded more than 2.7 million times since its April 6 debut, founder Jeffrey Katzenberg told Reuters on Wednesday.

Saudi Arabia is exploring re-routing millions of barrels of oil onboard tankers sailing to the United States if President Donald Trump decides to block imports of crude from the kingdom, shipping and trade sources say.

Oklahoma's energy regulator on Wednesday ruled in favor of an oil company's request to consider unprofitable production an economic waste, marking the first victory among companies looking for state relief against low prices.

Auto retail sales in the United States are beginning to recover from a massive slump in March due to the outbreak of the coronavirus and nationwide stay-at-home orders, according to analysts at research firm J.D. Power on Wednesday.

Wall Street surged on Wednesday as oil prices recovered some ground and Congress looked on course to approve nearly $500 billion more in aid to help small businesses ride out the coronavirus crisis.

Google's cloud-based game streaming service, Stadia, has witnessed a surge in users after the tech giant gifted two months of free access to its premium version for gamers sheltering at home to curb the spread of the coronavirus.

The head of the U.S. securities regulator on Wednesday warned investors against putting money into Chinese companies as they rebalance their portfolios following market turmoil due to ongoing problems with those companies' disclosures.

Rogers Communications Inc pulled its 2020 forecast and reported a lower-than-expected profit on Wednesday, as widespread cancellation of sports events hammered ad sales and demand for new routers took a hit due to the lockdowns.

U.S. brokers should not be forced to sign an agreement that could make them liable for breaches of a massive new industry trading database that they have no control over, a leading financial industry trade group told regulators on Wednesday.

U.S. brokers should not be forced to sign an agreement that could make them liable for breaches of a massive new industry trading database that they have no control over, a leading financial industry trade group told regulators on Wednesday.

Some blood tests being marketed to tell people if they have had the new coronavirus are a "disaster", Roche Chief Executive Severin Schwan said on Wednesday as he prepares to launch the drugmaker's own antibody test next month.

Brent crude oil rebounded from two days of losses and U.S. futures surged on Wednesday, bolstered by tentative talk of additional supply cuts from OPEC producers and U.S. inventory builds that were less dire than some expected.

Auto retail sales in the United States are beginning to recover from a massive slump in March due to the outbreak of the coronavirus and nationwide stay-at-home orders, according to analysts at research firm J.D. Power on Wednesday.

New streaming service Quibi, which offers entertainment and news in episodes of 10 minutes or less on mobile phones, has been downloaded more than 2.7 million times since its April 6 debut, founder Jeffrey Katzenberg told Reuters on Wednesday.

The recent liquidity crisis in the $17 trillion U.S. Treasury market has exposed structural problems that are unlikely to be fixed any time soon, which could lead to new bouts of volatility and make it more costly for the U.S. government to sell bonds.

The U.S. House of Representatives expects to pass a nearly $500 billion coronavirus relief bill on Thursday but will put off any decision on changing its voting rules during the pandemic, avoiding a potential partisan fight.

White House economic adviser Larry Kudlow on Wednesday said the Trump administration would try to fairly distribute the next round of aid for small businesses hurt by the coronavirus outbreak, saying demand for the first round of funding was "overwhelming."

As the U.S. quarterly earnings season picks up steam this week, investors are getting a glimpse of how companies are weathering the coronavirus outbreak, including the strength of their balance sheets.

The European Commission will next month present a set of rules for the safe reopening of air travel when coronavirus lockdowns end, including social distancing in airports and planes, while some U.S. airlines are taking their own protective measures.