Business & Finance News
Federal Reserve policymakers, still working to fully roll out a multi-trillion-dollar effort to shore up financial markets and an economy cratered by the coronavirus pandemic, last month dove into a new debate: how best to support the economy during a recovery they now agree could be slower and more fraught than initially thought.
Ford Motor Co on Wednesday closed two U.S. assembly plants as the coronavirus pandemic wreaked early havoc with the No. 2 U.S. automaker’s plan to restart North American production and begin making its most profitable vehicles again.
U.S. regulators are open to making changes to close what some see as a loophole in a new rule aimed at curbing global chip sales to blacklisted Chinese telecoms equipment maker Huawei Technologies Ltd, two U.S. officials said on Wednesday.
The three major averages on Wall St. notched their fourth gain in five sessions on Wednesday as investors again bet on a swift economic recovery from coronavirus-driven lockdowns and the potential for more stimulus measures from the Federal Reserve.
Travel website Kayak is seeing more demand for car rentals than air travel from customers looking to avoid crowds and stay closer to home as U.S. states reopen, Chief Executive Officer Steve Hafner told Reuters on Wednesday.
The U.S. Senate passed legislation on Wednesday that could prevent some Chinese companies from listing their shares on U.S. exchanges unless they follow standards for U.S. audits and regulations.
Crude prices rose and a gauge of global equities broke out of a three-week trading range on Wednesday as investors bet on a rapid recovery from the coronavirus-induced recession.
Before going to work these days, employees at the Brazilian unit of Fiat Chrysler Automobiles have to get a health check using a mobile app every morning.
Oil prices climbed over 3% on Wednesday on signs of improving demand and a drawdown in U.S. crude inventories, but gains were capped by worries over the economic fallout from the coronavirus pandemic and weak refining margins.
The three major averages on Wall St were poised for their fourth gain in five session on Wednesday as investors again bet on a swift economic recovery from coronavirus-driven lockdowns and the potential for more stimulus measures from the Federal Reserve.
Volkswagen withdrew on Wednesday an advert posted on its official Instagram page for its Golf cars that it admitted was racist and insulting, saying it would investigate how it came about and draw consequences.
The world’s largest airliner, the Airbus A380, took a step closer to the aviation archives on Wednesday as Air France said it would permanently axe its grounded fleet and sources said Emirates was in talks to reduce remaining deliveries.
Federal Reserve policymakers re-upped a pledge to keep interest rates near zero until they are confident the U.S. economy is on track to recovery, a detailed summary of their most recent policy-setting meeting shows.
Volkswagen withdrew on Wednesday an advert posted on its official Instagram page for its Golf cars that it admitted was racist and insulting, saying it would investigate how it came about and draw consequences.
Terms of a planned merger between Fiat Chrysler and Peugeot-owner PSA are set in stone, FCA’s chairman said on Wednesday, brushing off talk that some aspects of the deal might be re-negotiated because of the COVID-19 crisis.
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