NEW YORK (Reuters) – The S&P 500 closed lower on Wednesday as news of spiking pandemic data and the prospect of a new round of economic lockdowns dampened investor optimism over signs of economic recovery. FILE PHOTO: Traders exit the 11 Wall St. door of the New York Stock Exchange (NYSE) in…
Tag: News
Stocks waver on rising COVID cases, dollar in safety bidding
NEW YORK (Reuters) – Global equity markets closed little changed on Wednesday as a rally on economic and vaccine hopes faded, while fresh coronavirus outbreaks and rising geopolitical tensions in Asia boosted demand for the dollar and safe-haven debt. Optimism over a quick economic recovery has been tempered by more global cases…
U.S. trade chief vows to push for ‘broad reset’ at WTO
WASHINGTON (Reuters) – The Trump administration will push for a broad reset of “outdated tariff determinations” at the World Trade Organization to fix what it sees as years of unfair treatment of the United States, a top trade official told U.S. lawmakers on Wednesday. U.S. Trade Representative Robert Lighthizer takes off his…
Americans face new coronavirus challenge: a shortage of coins
FILE PHOTO: A stack of one cent U.S. coins depicting Abraham Lincoln is shown in this photo Illustration in Encinitas, California March 26, 2015. REUTERS/Mike Blake SAN FRANCISCO (Reuters) – Banks across the United States are facing a shortage of coins during coronavirus crisis, prompting the U.S. Federal Reserve to ration distribution…
Safe-haven dollar lifted by rise in coronavirus cases
FILE PHOTO: Saudi riyal, yuan, Turkish lira, pound, U.S. dollar, euro and Jordanian dinar banknotes are seen in this illustration taken January 6, 2020. REUTERS/Dado Ruvic/Illustration NEW YORK (Reuters) – The U.S. dollar was slightly higher on Wednesday afternoon as evidence of a surge in coronavirus cases in some U.S. states and…
U.S. fines Copa Airlines $450K for transporting passengers between U.S., Venezuela
A Copa Airlines plane sits in the tarmac is pictured at Tocumen International Airport after the Panamanian government restricted flights in recent days due to the coronavirus disease outbreak (COVID-19), in Panama City, Panama March 18, 2020. REUTERS/Erick Marciscano (Reuters) – The U.S. Transportation Department said on Wednesday it had fined Panama’s…
Fed’s Powell beats drum for more government aid to bolster economy
(Reuters) – The U.S. economy is beginning to recover from the worst of the coronavirus crisis, but with some 25 million Americans displaced from work and the pandemic ongoing, it will need more help, Federal Reserve Chair Jerome Powell told lawmakers on Wednesday. FILE PHOTO: Federal Reserve Board Chairman Jerome Powell presents…
Google sets 2025 leadership diversity goal, ends ‘tailgater’ ID checks
SAN FRANCISCO (Reuters) – Alphabet Inc’s Google on Wednesday announced a new hiring goal and security policy to address racial issues at its offices, as protests over police brutality against African Americans have carried into discussions about corporate culture. FILE PHOTO: Small toy figures are seen in front of Google logo in…
PepsiCo drops Aunt Jemima, criticized for racist history; Uncle Ben’s, Mrs. Butterworth’s under review
(Reuters) – PepsiCo Inc (PEP.O) said on Wednesday it will change the name and brand image of its Aunt Jemima pancake mix and syrup, dropping a mascot that has been criticized for a racist history, amid a national debate over racial inequality in the United States. The logo of the more than…
Unemployment payments backlog draws hundreds to Kentucky’s capital
Rose Carter, of Lexington, waits in a line outside a temporary unemployment office established by the Kentucky Labor Cabinet at the State Capitol Annex in Frankfort, Kentucky, U.S. June 17, 2020. REUTERS/Bryan Woolston FRANKFORT, Ky. (Reuters) – Hundreds of people who lost jobs during the coronavirus crisis but have been unable to…
Ex-Tommy Hilfiger boss Grieder to become new Hugo Boss CEO
FILE PHOTO: The logo of German fashion company Hugo Boss is seen at a store in Vienna, Austria, November 23, 2016. REUTERS/Leonhard Foeger/File Photo FRANKFURT (Reuters) – German fashion house Hugo Boss (BOSSn.DE) has appointed former Tommy Hilfiger boss Daniel Grieder as its next chief executive, it said on Tuesday. Grieder, the…
Oil prices rise 3% on signs of U.S. economic recovery
NEW YORK (Reuters) – 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. FILE PHOTO: The sun is seen behind a crude…
Lufthansa shareholder Thiele raps bailout deal, raises stake
FILE PHOTO: Lufthansa presents its new logo during a press event in a maintenance hangar of the airline at the airport in Frankfurt am Main, Germany February 7, 2018. REUTERS/Ralph Orlowski FRANKFURT (Reuters) – German investor Heinz Hermann Thiele sharply criticised a 9-billion-euro ($10.14 billion) bailout deal for carrier Lufthansa (LHAG.DE), saying…
Wall Street closes higher on signs of economic recovery
NEW YORK (Reuters) – 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. All three major U.S. stock indexes posted their third consecutive daily gains. The Dow…
U.S. says former eBay workers sent live roaches, bloody pig mask to intimidate critics
(Reuters) – Six former eBay Inc employees have been criminally charged with mounting a cyberstalking campaign against a Massachusetts couple whose online newsletter they viewed as critical of the e-commerce company, U.S. prosecutors announced on Monday. U.S. Attorney Andrew Lelling in Boston said the defendants, including two eBay security executives, targeted the…
Green shoots welcome but recovery still a long road, Fed’s Powell says
WASHINGTON (Reuters) – 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. While recent signs of…
Why some black-owned U.S. businesses are hardest hit by coronavirus shutdowns
WASHINGTON/NEW YORK (Reuters) – 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. It hadn’t even been up and running for a full month…
Amazon to use AI tech in its warehouses to enforce social distancing
(Reuters) – Amazon.com Inc (AMZN.O) 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. FILE PHOTO: The Amazon logo is seen at the Amazon fulfilment center in Bretigny-sur-Orge near Paris, France,…
Stocks and dollar gain on U.S. retail sales, drug trial
NEW YORK/LONDON (Reuters) – 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. U.S. Treasury yields rose, as did…
U.S. posts rule allowing U.S. companies to work with Huawei on 5G and other standards
(Reuters) – 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. FILE PHOTO: People walk past a Huawei shop, amid an outbreak…