Business & Finance News
World stock markets slip on second wave virus fears, safe-havens rise
Global stock markets fell on Thursday as a continued rise in the number of coronavirus cases dashed hopes of a swift recovery from the pandemic-induced economic slump and drove demand for safe-haven currencies such as the dollar and Japanese yen.
Oil edges up on OPEC output cut compliance; pandemic still weighs
Oil prices rose slightly on Thursday as a panel of OPEC and its allies met to review record oil supply cuts, even as the market remained concerned about additional coronavirus cases reported in parts of the United States and China.
U.S. insurers eye Legionnaires’ disease safeguards as buildings re-open from pandemic shutdowns
Commercial insurers are scrutinizing building managers’ efforts to avoid outbreaks of Legionnaires’ disease as they re-open movie theaters, gyms, schools and offices that had been closed for months due to the coronavirus pandemic, industry sources told Reuters.
U.S. House Democrats unveil $1.5 trillion infrastructure plan
U.S. House of Representatives Democrats on Thursday unveiled a $1.5 trillion infrastructure bill that they will seek to pass in coming weeks, arguing it has been made more urgent by the coronavirus pandemic.
Wall Street oscillates amid COVID-19 spikes, muted data
Wall Street struggled for direction on Thursday as investors weighed a resurgence in coronavirus infections and the possibility of a new round of shutdowns against data that suggested the U.S. economy might not bounce back with quick, V-shaped recovery.
Lufthansa investor Thiele seeks talks with German government: Handelsblatt
Lufthansa’s biggest shareholder, German billionaire Heinz Hermann Thiele, has reached out to Berlin politicians for talks, Handelsblatt said, the latest step in a standoff over the airline’s 9 billion euro ($10.1 billion) bailout.
Tesla wants to start building a new U.S. vehicle plant this summer
Electric vehicle maker Tesla Inc wants to start building a new and large vehicle assembly plant in the southwestern United States as early as the third quarter of this year, the company told Texas officials in documents made public this week.
Trump to nominate lawyer Crenshaw to fill SEC Democratic commissioner slot
The White House announced on Thursday that President Donald Trump intends to nominate Caroline Crenshaw to fill a Democratic vacancy at the U.S. Securities and Exchange Commission (SEC).
U.S. labor market improvement stalling; second wave of layoffs seen
The number of Americans filing for unemployment benefits fell last week, but the pace of decline has stalled amid a second wave of layoffs as companies battle weak demand and fractured supply chains, supporting views that the economy faces a long and difficult recovery from the COVID-19 recession.
LATAM Airlines says operations to plunge 50% by year’s end
LATAM Airlines Chief Executive Roberto Alvo said on Thursday he expects the region´s largest carrier to be operating at half of pre-pandemic levels by the end of 2020, and that a full recovery was unlikely for at least 3-4 years.