Business & Finance News
Investors are betting a weaker U.S. dollar will further boost a rally that has seen stocks, emerging market currencies and other risky assets soar in recent weeks.
The S&P 500 and Dow slipped on Wednesday, as losses in financial stocks outweighed a boost from technology, with focus shifting to the Federal Reserve’s first projections on the economy since the coronavirus outbreak.
U.S. consumer prices fell for a third straight month in May and underlying inflation was weak as demand for goods and services remained subdued amid a recession caused by the COVID-19 pandemic.
The Federal Reserve completes its latest policy meeting on Wednesday with attention turning from its massive response to the coronavirus pandemic and toward its still-developing plans to strengthen and lengthen a nascent economic recovery.
The Mexican unit of U.S. retailer Walmart said on Wednesday a shareholder meeting would discuss the absorption of two internal units, Holding de Restaurantes y Servicios and Tiendas Wal-Mart.
Tesla Inc’s stock jumped above $1,000 a share on Wednesday after Chief Executive Elon Musk told his staff it was time to bring the Tesla Semi commercial truck to “volume production.”
The dollar slid to a three-month low and a gauge of global equities edged lower on Wednesday as investors awaited news at the end of a two-day meeting of the Federal Reserve and its plans to strengthen a nascent U.S. economic recovery.
European food ordering firm Just Eat Takeaway.com NV said on Wednesday it was in advanced talks to buy Grubhub Inc in an all-stock deal.
American Airlines Chief Executive Doug Parker said on Wednesday that he expects a daily cash burn of about $40 million in June, down from a previous forecast of $50 million per day, thanks to cost-savings measures to address the coronavirus pandemic.
The S&P 500 and Dow eased on Wednesday, as losses in financial stocks outweighed a boost from technology, with focus shifting to the Federal Reserve’s first projections on the economy since the coronavirus outbreak.
Ford Motor Co and Volkswagen AG said on Wednesday they would make up to 8 million units of medium pickup trucks and commercial vans over the lifecycle of the vehicles as part of an alliance announced last year.
Goldman Sachs Group Inc said on Wednesday it had launched a $10 million fund to support the work of organizations addressing racial injustice, structural inequity and economic disparity.
Simon Property Group Inc , the biggest U.S. mall operator, said on Wednesday it would terminate its $3.6 billion deal to buy Taubman Centers Inc due to the damage done by the coronavirus pandemic to its rival’s business.
Goldman Sachs Group Inc commodities unit generated more than $1 billion in revenue this year through May as traders positioned their bets for the collapse in oil prices, a source familiar with the group’s finances said on Wednesday.
Jack Dorsey, the chief executive of Square Inc and Twitter Inc, said June 19, popularly known as ‘Juneteenth’, would be a permanent company-wide holiday in the United States to show support for racial diversity.
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