Business & Finance News
The dollar dropped to a three-month low amid speculation the U.S. Federal Reserve will announce later on Wednesday it intends to keep a recent rise in bond yields in check.
Ford Motor Co said on Wednesday it would expand its alliance with Volkswagen AG to produce up to 8 million commercial vehicles.
Social network company Reddit on Wednesday named venture capital investor Michael Seibel to its board, days after co-founder and former director Alexis Ohanian resigned and called for the company to replace him with a black candidate.
In the past, U.S. corporations have largely remained silent as protests erupted over killings of African-Americans by police officers. That changed with the May 25 death of George Floyd in Minneapolis, which has set off a flurry of corporate statements of solidarity with the black community – along with pledges of more than $1.7 billion to advance racial justice and equity.
Germany’s RWE plans to produce hydrogen from renewable energy to supply steelmaker Thyssenkrupp, the two companies told Reuters.
Tesla Inc’s chief executive Elon Musk said that it is time to bring its Semi commercial truck to “volume production”, as the U.S. electric vehicle maker ramps up vehicle production after a brief virus-related shutdown.
U.S. banks have been stocking up on masks and other supplies and setting up acrylic barriers to prevent spreading the novel coronavirus as they ready their branches for the country’s gradual reopening, executives and suppliers told Reuters.
German sportswear brand Adidas has pledged to invest $20 million in the black community in the United States and make sure that at least 30% of all new U.S. jobs are filled with black and Latino people at its Adidas and Reebok brands.
The S&P 500 and Dow futures ticked lower on Wednesday as investors stayed on the sidelines ahead of the Federal Reserve meeting that could shed further light on the central bank’s view of the economy as it emerges from lockdowns.
The world’s 14 biggest carmakers are on course to miss globally agreed climate targets, a leading sustainable finance think tank said on Wednesday, urging investors to do more to pressure boards to change their production plans.
Stock markets nudged down from more than three-month highs on Wednesday, while the dollar stumbled as caution took hold ahead of a U.S. Federal Reserve meeting.
German utility RWE plans to mass produce hydrogen from renewable energy sources as part of a supply deal with Thyssenkrupp so Germany’s largest steel maker can gradually replace coal to power its blast furnaces.
U.S. activist investor Cerberus is calling on Commerzbank to appoint two of its nominees to the supervisory board, cut costs and adopt a new strategy, as it battles to make a success of a big bet on German banks.
European Central Bank officials are drawing up a scheme to cope with potentially hundreds of billions of euros of unpaid loans in the wake of the coronavirus outbreak, two people familiar with the matter told Reuters.
The Bank of England looks set to give itself at least another 100 billion pounds ($127 billion) in bond-buying firepower next week to try to stop the coronavirus crisis from inflicting further damage on Britain’s economy.
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