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S&P 500, Dow retreat as focus turns to Fed; Nasdaq hits fresh high
The S&P 500 and Dow slipped on Wednesday, as losses in financial stocks countered a boost from the technology sector, with focus now shifting to the Federal Reserve's first projections on the economy since the coronavirus outbreak.
Categories: Reuters
J&J moves up start of coronavirus vaccine human trials to July
Johnson & Johnson moved up the start of human clinical trials for its experimental vaccine against the highly contagious coronavirus by two months to the second half of July, as the drugmaker rushes to develop a prevention for COVID-19, the company said on Wednesday.
Categories: Reuters
Mnuchin says U.S. recovery has begun, will gain strength in Q3, Q4
U.S. Treasury Secretary Steven Mnuchin said on Wednesday that the U.S. economy has already begun to rebound from the coronavirus pandemic and would "improve dramatically" in the third and fourth quarters.
Categories: Reuters
OECD sees deepest peace-time slump in a century
The global economy will suffer the biggest peace-time downturn in a century before it emerges next year from a coronavirus-inflicted recession, the OECD said on Wednesday.
Categories: Reuters
A casino or stock market? Retail buying frenzy goes wild
A raft of small cap stocks has soared by hundreds of millions of dollars in value in recent weeks as frenzied retail traders piled in to a blistering stocks rally.
Categories: Reuters
Delta expects second-quarter revenue to slump, looks to amend debt deals
U.S. carrier Delta Air Lines on Wednesday forecast a 90% plunge in second-quarter revenue and warned it would need to renegotiate its debt agreements to avoid a default next year.
Categories: Reuters
Global risk rally has a powerful ally: the weaker dollar
Investors are betting a weaker U.S. dollar will further boost a rally that has seen stocks, emerging market currencies and other risky assets soar in recent weeks.
Categories: Reuters
S&P 500, Dow retreat ahead of Fed outlook; Nasdaq hits new high
The S&P 500 and Dow slipped on Wednesday, as losses in financial stocks outweighed a boost from technology, with focus shifting to the Federal Reserve's first projections on the economy since the coronavirus outbreak.
Categories: Reuters
Just Eat Takeaway in advanced talks to buy Grubhub
European food ordering firm Just Eat Takeaway.com NV said on Wednesday it was in advanced talks to buy Grubhub Inc in an all-stock deal that, if completed, would create the world's largest food delivery company by revenue.
Categories: Reuters
Goldman Sachs forms fund to address racial injustice
Goldman Sachs Group Inc said on Wednesday it had launched a $10 million fund to support the work of organizations addressing racial injustice, structural inequity and economic disparity.
Categories: Reuters
Boeing aims to conduct key 737 MAX certification flight in late June: sources
Boeing Co is aiming to conduct a key certification test flight on its grounded 737 MAX in late June, two people briefed on the matter said.
Categories: Reuters
Number of U.S. air passengers fell 96% in April to historic low: government
U.S. airlines carried 3 million passengers in April, a staggering 96% decline from April 2019 amid the coronavirus pandemic and flight restrictions, the Transportation Department said on Wednesday.
Categories: Reuters
UK watchdog extends deadline for final ruling on Amazon's Deliveroo deal
Britain's competition regulator has given itself two more months to make a final ruling on Amazon's purchase of a minority stake in online delivery group Deliveroo so it can take full account of representations from all interested parties.
Categories: Reuters
J&J to begin human trials of COVID-19 vaccine in second half of July
Johnson & Johnson said on Wednesday it would bring forward by two months human trials of its potential COVID-19 vaccine to the second half of July, as the drugmaker rushes to develop a shot for the contagious respiratory disease.
Categories: Reuters
With crisis response in place, Fed focuses on long term
The Federal Reserve completes its latest policy meeting on Wednesday with attention turning from its massive response to the coronavirus pandemic and toward its still-developing plans to strengthen and lengthen a nascent economic recovery.
Categories: Reuters
Walmart's Mexico business set to absorb two internal units
The Mexican unit of U.S. retailer Walmart said on Wednesday a shareholder meeting would discuss the absorption of two internal units, Holding de Restaurantes y Servicios and Tiendas Wal-Mart.
Categories: Reuters
U.S. air passengers fell 96% in April to historic low: government
U.S. airlines carried 3 million passengers in April, a staggering 96% decline amid the coronavirus pandemic and flight restrictions, the Transportation Department said Wednesday.
Categories: Reuters
Emirates airline redundancies continue for second day, sources say
Emirates laid off more pilots and cabin crew on Wednesday in a second day of redundancies at one of the world's biggest long-haul airlines, three company sources said.
Categories: Reuters
Dollar slips, stocks fall ahead of Fed meeting
The dollar slid to a three-month low and a gauge of global equities edged lower on Wednesday as investors awaited news at the end of a two-day meeting of the Federal Reserve and its plans to strengthen a nascent U.S. economic recovery.
Categories: Reuters
S&P 500, Dow slip ahead of Fed outlook; Nasdaq scales fresh high
The S&P 500 and Dow eased on Wednesday, as losses in financial stocks outweighed a boost from technology, with focus shifting to the Federal Reserve's first projections on the economy since the coronavirus outbreak.
Categories: Reuters