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Reuters Business News
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Updated: 4 years 27 weeks ago
Dollar firm after U.S. retail sales jump, risk currencies softer
The dollar held firm against many of its rivals on Wednesday after U.S. retail sales jumped far more than expected in May,
Categories: Business News
Oil slumps as U.S. crude stocks build amid virus resurgence fears
Oil prices fell on Wednesday as data showed an increase in U.S. crude and fuel inventories, raising the prospect of oversupply as a potential second wave of the coronavirus pandemic threatened to halt any recovery of demand.
Categories: Business News
Asia stocks given pause by virus surge, geopolitics
Asian share markets took a breather on Wednesday as a resurgence of coronavirus cases challenged market confidence in a rapid economic recovery, even as the rebound in U.S. retail sales in May broke all records.
Categories: Business News
Senate bill aims to improve aircraft certification after 737 MAX crashes
U.S. senators introduced legislation on Tuesday that would strengthen FAA oversight of aircraft certification following fatal Boeing Co 737 MAX crashes, though a victim's father said the bill, while a positive step, "still lacks teeth."
Categories: Business News
Dollar firm after retail sales jump fans recovery hopes
The dollar held firm against many of its rivals on Wednesday after U.S. retail sales jumped far more than expected in May, while risk-sensitive currencies were hobbled by concerns about the coronavirus and diplomatic tensions in Asia.
Categories: Business News
U.S. posts rule allowing U.S. companies to work with Huawei on 5G and other standards
The U.S. Department of Commerce on Tuesday posted a new rule that allows U.S. companies to work with China's Huawei to develop standards for 5G and other cutting-edge technologies, despite restrictions on doing business with the telecommunications equipment maker.
Categories: Business News
Bayer scraps U.S. plans to produce crop chemical blocked by court
Bayer AG said on Tuesday it will scrap a nearly $1 billion project to produce the chemical dicamba in the United States, but said the move is unrelated to a federal court decision that blocked sales of weed killers based on the product.
Categories: Business News
U.S. calls bid by men to avoid extradition over ex-Nissan boss Ghosn's escape 'flawed'
U.S. prosecutors on Tuesday said a former Green Beret and his son, wanted by Japan for helping former Nissan Motor Co boss Carlos Ghosn flee the country, were advancing a "flawed" interpretation of Japanese law to fight their extradition.
Categories: Business News
Amazon to use AI tech in its warehouses to enforce social distancing
Amazon.com Inc on Tuesday launched an artificial intelligence-based tracking system to enforce social distancing at its offices and warehouses to help reduce any risk of contracting the new coronavirus among its workers.
Categories: Business News
Trump team prepares $1 trillion infrastructure plan to spur economy
The Trump administration is preparing an up to $1 trillion infrastructure package focused on transportation projects as part of its push to spur the world's largest economy back to life, a source familiar with the situation said on Tuesday.
Categories: Business News
U.S. bank profits plunge 70% on coronavirus loss provisioning
U.S. bank profits fell by 69.6% to $18.5 billion in the first quarter of 2020 from the year prior as banks felt the economic impact of the novel coronavirus pandemic, according to data from a banking regulator.
Categories: Business News
Asian stocks set to rise as drug trials, data push Wall Street higher
Asian stocks were set to climb on Wednesday after another late Wall Street surge in response to upbeat trial results for a COVID-19 treatment and data showing U.S. consumers spent big in May.
Categories: Business News
Transparency needed to restore trust after 737 MAX crashes: FAA chief
U.S. FAA chief Steve Dickson will tell a Senate committee at a hearing on Wednesday that transparency is key to restoring public trust in the agency and planemaker Boeing Co in the wake of fatal 737 MAX crashes, according to a copy of his written testimony seen by Reuters.
Categories: Business News
Wall Street closes higher on signs of economic recovery
Wall Street advanced on Tuesday as the prospect of additional stimulus and a record jump in retail sales suggested the U.S. economy could bounce back sooner than expected, five months into its pandemic-inflicted recession.
Categories: Business News
Tesla signs three-year pricing deal with battery cell maker Panasonic
Tesla Inc has signed a three-year pricing deal with Japan's Panasonic Corp relating to the manufacture and supply of lithium-ion battery cells at the Gigafactory in Nevada, the electric carmaker disclosed in a filing on Tuesday.
Categories: Business News
Southwest extends limited seating on flights through September
Southwest Airlines Co said on Tuesday it will continue to limit bookings on its flights until at least September to maintain space between passengers.
Categories: Business News
Why some black-owned U.S. businesses are hardest hit by coronavirus shutdowns
After 15 years working as a hair stylist in other people's salons, Gary Connell opened his "Healthy Hair" studio in Montgomery County, Maryland in early March, sinking his savings into a two-chair shop in a busy mall.
Categories: Business News
Green shoots welcome but recovery still a long road, Fed's Powell says
A full U.S. economic recovery will not occur until the American people are sure that the novel coronavirus epidemic has been brought under control, Federal Reserve Chair Jerome Powell said on Tuesday, as he began the first of two days of hearings before U.S. lawmakers.
Categories: Business News
Oil prices rise 3% on signs of U.S. economic recovery
Oil prices rose 3% in volatile trade on Tuesday as Wall Street surged and the International Energy Agency (IEA) increased its oil demand forecast for 2020, but gains were capped by worries about a second wave of coronavirus cases.
Categories: Business News
Stocks and dollar gain on U.S. retail sales, drug trial
Risk appetite found new life on Tuesday on a record rebound in U.S. retail sales, fresh support from the Federal Reserve and Bank of Japan, and upbeat trial results for a COVID-19 treatment, driving global equity markets higher and boosting the dollar.
Categories: Business News
