Year: 2020

Oil prices pulled back slightly on Tuesday as a U.S. Senate committee grilled Federal Reserve Chair Jerome Powell and Treasury Secretary Steven Mnuchin about aid packages intended to bolster the economy.

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Top U.S. airlines and Air Canada on Tuesday reported slower ticket cancellations and an improvement in bookings on some routes, sending their shares higher, though executives warned that rebuilding demand to pre-pandemic levels would be tough.

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The S&P 500 was largely unchanged on Tuesday, after a strong rally in the prior session, as investors sifted through a mixed batch of results from major retailers including Walmart and Home Depot.

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Italy could look into Fiat Chrysler’s planned 5.5 billion euro ($6 billion) payout as part of its merger with Peugeot after the Italian-American carmaker asked for a 6.3 billion euro state-backed loan, a senior government source said.

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The Federal Aviation Administration said Tuesday it will require Boeing Co and other aircraft manufacturers to adopt new safety management tools in the wake of two fatal Boeing 737 MAX crashes that killed 346 people.

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JPMorgan Chase & Co shareholders voted to reelect all of the bank’s board members on Tuesday, including a former Exxon Mobil Corp CEO who drew criticism from environmental groups and New York City’s comptroller and pension system leader.

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General Motors Co is “almost there” on developing an electric vehicle battery that will last one million miles, a top executive said on Tuesday.

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French carmaker Renault has sealed a deal with banks on a 5 billion-euro ($5.47 billion) state-guaranteed loan to help the company to cope with the coronavirus outbreak, two sources close to the matter told Reuters on Tuesday.

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Top U.S. airlines and Air Canada on Tuesday reported slower ticket cancellations and signs of improving demand, with Delta Air Lines Inc saying its cash flow was on track to reach break-even by the end of the year.

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The euro and European government debt rallied on Tuesday, lifted by a Franco-German proposal to fund grants for regions hit hardest by the coronavirus pandemic, while oil rose on growing demand as countries eased business lockdowns.

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Federal Reserve Chair Jerome Powell and Treasury Secretary Steven Mnuchin found themselves in the hot seat on Tuesday as U.S. lawmakers grilled them about the uneven nature of the fiscal response to the fallout from the coronavirus pandemic.

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