Oil prices fell on Wednesday as investors worried about fuel demand due to fresh outbreaks of COVID-19, though prices drew some support after U.S. stocks of diesel fuel fell for the first time in weeks and U.S. oil production dropped sharply.
The U.S. dollar rose from early lows on Wednesday as investors wary of wider geopolitical risks sought its relative safe haven ahead of midday remarks by Federal Reserve Chair Jerome Powell.
The S&P 500 and the Dow were largely flat on Wednesday as a record rise in coronavirus cases in six U.S. states dented sentiment following a three-day rally on hopes of a swift recovery from a coronavirus-driven downturn.
United Airlines sweetened on Tuesday a voluntary exit package for frontline employees like flight attendants and gate agents, saying it needed “a lot more people to sign up” to avoid involuntary layoffs in October, according to a staff email seen by Reuters.
Last week was grim for the stock market, including the worst single-day loss since March, but the trend lines are turning upwards again this week. Treasury Secretary Mnuchin’s statement that the US cannot shut down its economy again gave investors a boost of confidence – and this week’s May retail sales report gave an even bigger one.This is the good news background lending credence a recent report from Morgan Stanley, on finding the advantageous tech position for a V-shaped recovery. The report, lead-authored by 5-star analyst Joseph Moore, details the strengths and weaknesses of the tech sector as companies respond …read more […]
The U.S. Federal Aviation Administration has been “stonewalling” senators conducting an investigation into the design and development of Boeing Co’s 737 MAX in the wake of deadly crashes, a top Republican senator told a hearing on Wednesday.
PepsiCo Inc will change the name and brand image of its Aunt Jemima pancake mix and syrup, it said on Wednesday, dropping a mascot that has been criticized for a racist history.
The S&P 500 and the Dow edged lower in choppy trading on Wednesday as a record rise in coronavirus cases in six U.S. states dented sentiment following a three-day rally on hopes of a swift recovery from a coronavirus-driven downturn.
Fiat Chrysler and Peugeot maker PSA’s proposed merger may harm competition in small vans in 14 EU countries and Britain, EU antitrust regulators said on Wednesday as they opened a four-month investigation into the deal.
Italy’s Treasury has taken a further step towards approving a state guarantee for a 6.3 billion euro ($7.1 billion) loan for Fiat Chrysler’s Italian unit, a government source told Reuters on Wednesday.
U.S. homebuilding increased less than expected in May, but a strong rebound in permits for future home construction suggested the housing market was starting to emerge from the COVID-19 crisis along with the broader economy.
Building robots and drones is messy: Developers must pull together sensors to be the eyes and ears, chips for the brains and motors to make the device move, tying them all together with several kinds of software.
Qatar Airways will not take any new planes ordered from Boeing or Airbus in 2020 or 2021, chief executive Akbar al-Baker said on Wednesday, adding there would be a knock-on effect to future deliveries due to the COVID-19 pandemic. Qatar Airways has ordered tens of billions of dollars of aircraft from the world’s two biggest planemakers. …read more […]
Oil prices fell on Wednesday on fears about fresh outbreaks of COVID-19 but prices drew some support from stimulus measures and positive tests of a drug that could save some critically ill patients.
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