Business & Finance News
U.S stocks seesawed on Wednesday, digesting the previous session’s huge rebound, with investors torn as optimism about an imminent $2 trillion coronavirus package was offset by concerned about the lasting economic impact from the pandemic. [.N]
Wall Street rose in choppy trading on Wednesday, building on the previous session’s gains, as the U.S. Senate neared a vote to clear a $2 trillion package to support businesses and households affected by the coronavirus pandemic.
As independent contractors, U.S. ride-hail drivers for Uber and Lyft benefited from soaring trip demand and flexible work hours.
A handful of large British companies had emerged on Wednesday as likely candidates for the government’s emergency lending scheme aimed at helping them tide over the coronavirus shutdowns afflicting many of the world’s biggest economies.
European Central Bank President Christine Lagarde has a concrete reason for putting pressure on euro zone governments to finance the fight against coronavirus with joint debt — avoiding trouble with the courts.
EU antitrust regulators have opened a full investigation into Johnson & Johnson’s acquisition of Takeda Pharmaceutical’s surgical patch product TachoSil, concerned that the deal could lead to reduced choice and higher prices for customers.
Oil prices fell on Wednesday despite a massive pending U.S. economic stimulus package as the coronavirus pandemic sharply dented U.S. fuel demand in the latest week, with traders bracing for further declines.
French automaker Peugeot SA’s joint venture in China with Dongfeng Motor Group said on Wednesday it had restarted car production at its plant in Wuhan city, the epicenter of China’s coronavirus outbreak.
Venezuela has opened talks with China over possible financial support to cope with a sharp drop in oil prices and the arrival of the novel coronavirus, four sources familiar with the negotiations said.
Alberto Mendoza figures he can make it a couple of weeks on unemployment benefits before starting to decide which bills won’t get paid. The 26-year-old father of three lost his job training cooks when all the local restaurants started closing their doors and laying off staff.
A compromise $2 trillion economic rescue package that will be voted on by the U.S. Senate on Wednesday is set to give passenger airlines about $25 billion in grants, and up to another $8 billion for cargo carriers and airport contractors, three people briefed on the negotiations said.
The havoc wrought by the coronavirus crisis could give investors leverage to put new limits on CEO pay packages and link them more closely to a range of social and environmental issues at companies’ annual meetings this spring.
The roughly $2 trillion emergency aid package being negotiated in Congress is “scaled about right” to match the hit to the economy needed to battle the coronavirus, St. Louis Federal Reserve president James Bullard said on Wednesday in a CNBC interview.
As many as 46 million people in the U.S. may be left jobless in the short term as companies shut down services that have “high contact” with the public during the battle against the coronavirus epidemic, St. Louis Federal Reserve president James Bullard said on Wednesday.
Oil prices fell on Wednesday as faltering fuel demand because of the coronavirus pandemic outweighed a massive pending U.S. economic stimulus package.
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