Business & Finance News
White House economic adviser Larry Kudlow said on Tuesday that President Donald Trump wants a payroll tax holiday for U.S. workers in the hopes of staunching economic pain caused by the coronavirus pandemic.
Five McDonald’s workers in Chicago filed a class action lawsuit against the chain on Tuesday, accusing it of failing to adopt government safety guidance on COVID-19 and endangering employees and their families.
Ford Motor Co on Tuesday reiterated its policy that all visitors to its manufacturing plants must wear a mask but did not say if it would require U.S. President Donald Trump to comply during a planned visit.
Volkswagen said it agreed with a German court to pay 9 million euros ($9.9 million) to end legal proceedings against its chairman and chief executive, who were accused of holding back market-moving information on rigged emissions tests.
American Airlines Group Inc may use its Advantage loyalty program as collateral for a secured U.S. government loan, President Robert Isom said at a conference on Tuesday, noting that government talks are ongoing.
First Data Merchant Services LLC and a former executive will pay nearly $40.3 million to settle U.S. civil charges they knowingly processed payments and helped launder credit card transactions in four scams that harmed hundreds of thousands of consumers.
U.S. Treasury Secretary Steven Mnuchin on Tuesday defended the Trump administration’s fiscal response to the coronavirus pandemic and told senators he was willing to consider extending and modifying a payroll loan program for small businesses.
Facebook Inc is launching Facebook Shops, a service that will allow small businesses to display and sell their products on the social network’s platforms, Chief Executive Officer Mark Zuckerberg said on Tuesday.
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.
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.
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.
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.
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.
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.
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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