Business & Finance News
The Federal Reserve’s pledged support for exchange-traded funds may not end up costing the central bank much, but will still have the desired effect of keeping the credit market afloat.
Temperature screening and face masks will become common sights at airports to mitigate the spread of the new coronavirus but physical distancing could make flying more expensive, the head of Dubai airport said.
The global novel coronavirus crisis continues to batter the U.S. labor market, with millions more Americans, including white collar workers, expected to have filed for unemployment benefits last week as the hit from the pandemic spills over into a broader swath of the economy.
Asia’s stock markets fell and gold hit a one-week high on Thursday as worries about a second wave of coronavirus infections and a dour assessment of the way back from the head of the U.S. Federal Reserve dashed hopes for a quick recovery.
Casual clothing chain Uniqlo has reopened more stores in the past week and plans to resume business at more shops in coming days as governments ease coronavirus restrictions, its owner Fast Retailing said on Thursday.
Asian equities were set to slump on Thursday after the head of the Federal Reserve warned of a “significantly worse” U.S. recession than any downturn since World War Two because of coronavirus pandemic fallout, sentiments that drove bonds higher on a safety bid.
A United Airlines Holdings Inc non-union employee filed a class action lawsuit on Wednesday alleging that a requirement that management and administration employees take 20 unpaid days off breaches the terms of federal payroll aid.
The U.S. factories that make Fords, Chevys and Jeeps are coming back to life this week as workers install new safety equipment and wake up machines ahead of the high-stakes restart the Detroit automakers plan to launch on Monday.
The U.S. economy lost a record 20.537 million jobs in April and not 20.5 million as reported last Friday, according to revised data published by the Labor Department this week.
French drugmaker Sanofi SA said on Wednesday that it is working with European regulators to speed up access to a potential coronavirus vaccine in Europe after its chief executive suggested Americans would likely get the vaccine first.
Brazil airline Gol Linhas Aereas Inteligentes said on Wednesday it will receive up to 2.4 billion reais ($412 million) from Boeing Co as compensation for the grounding of the 737 MAX plane, in a mix of cash and credits.
Federal Reserve Chair Jerome Powell had a clear message to interest rate futures traders on Wednesday: Bets the U.S. central bank is headed toward a negative interest-rate policy are off-base.
President Donald Trump on Wednesday extended for another year an executive order signed in May 2019 declaring a national emergency and barring U.S. companies from using telecommunications equipment made by firms posing a national security risk.
The S&P 500 closed lower for the second day in a row after Federal Reserve Chairman Jerome Powell warned on Wednesday of extended economic weakness due to the coronavirus pandemic and called for Congress to agree on additional fiscal support.
Mexico will begin opening some automotive factories from May 18 under a plan unveiled on Wednesday that loosens coronavirus restrictions and paves the way for U.S. car giants to ramp up output dependent on parts made south of the border.
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