- Asian stocks set to fall as Wall St. snaps three-day winning streak
Asian stocks were set to dip on Thursday after a choppy Wall Street session as spiking coronavirus cases and prospects of new lockdowns erased earlier confidence about a global economic recovery.
- Google, Fitbit deal may hamper competition: Australian regulator
Australia's consumer watchdog said on Thursday it had concerns that Alphabet Inc-owned Google's planned $2.1 billion acquisition of fitness tracker company Fitbit may hinder competition in digital advertising and health markets.
- Glass Lewis opposes Tesla chairwoman's re-election to Board: Bloomberg News
Proxy-adviser Glass Lewis has urged Tesla Inc investors to vote against re-electing chairwoman Robyn Denholm to the company's board due to an arrangement with Elon Musk that raises corporate governance concerns, Bloomberg reported on Wednesday.
- FAA chief acknowledges agency, Boeing made mistakes on 737 MAX
The head of the Federal Aviation Administration, Steve Dickson, acknowledged on Wednesday that Boeing Co and the U.S. air safety agency both made mistakes on the 737 MAX jet, but rejected senators' accusations the FAA was "stonewalling" probes after two fatal crashes.
- Oil prices drop on demand worries as coronavirus cases rise
Oil prices fell more than 1% in early trade on Thursday as a spike in new coronavirus cases in China and the United States renewed fears that people would stay home and stall a recovery in fuel demand even as lockdowns ease.
- Dollar holds advantage as anxiety grows over rise in coronavirus cases
The dollar held onto gains on Thursday as growing concerns about a rise in coronavirus cases underpinned safe-haven demand for the U.S. currency.
- Amazon launches Saudi Arabia shopping site despite CEO's dispute with kingdom
Amazon.com Inc on Wednesday launched a website for shoppers in Saudi Arabia, showing its continued business interests there despite a public dispute between Riyadh and the company's chief executive, Jeff Bezos.
- Unemployment payments backlog draws hundreds to Kentucky's capital
Hundreds of people who lost jobs during the coronavirus crisis but have been unable to get their unemployment insurance checks converged at the Kentucky Capitol in Frankfort early Wednesday to seek in-person help.
- S&P closes lower as new COVID-19 cases surge
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.
- Ex-Morgan Stanley diversity officer says bank slashed her budget by 71%
A lawyer representing a former Morgan Stanley diversity officer who is suing the bank over racial discrimination said on Wednesday the bank cut her client's budget for promoting diversity and financial education by 71% from the time she started in wealth management to 2019.
- U.S. fines Copa Airlines $450K for transporting passengers between U.S., Venezuela
The U.S. Transportation Department said on Wednesday it fined Panama's Copa Airlines $450,000 for unlawfully transporting passengers between the United States and Venezuela via a stopover point, and ordered the airline to avoid future similar violations.
- Trump administration proposes rolling back protections for big tech
The U.S. Justice Department proposed on Wednesday that Congress take up legislation to curb protections big tech platforms like Alphabet's Google and Facebook have had for decades, a senior official said, following through on President Donald Trump's bid to crack down on tech giants.
- PepsiCo drops Aunt Jemima, criticized for racist history; Uncle Ben's, Mrs. Butterworth's under review
PepsiCo Inc 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.
- Americans face new coronavirus challenge: a shortage of coins
Banks across the United States are facing a shortage of coins during coronavirus crisis, prompting the U.S. Federal Reserve to ration distribution and work with the U.S. Mint to boost supply.
- Google sets 2025 leadership diversity goal, ends 'tailgater' ID checks
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.
- U.S. trade chief vows to push for 'broad reset' at WTO
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.
- Stocks waver on rising COVID cases, dollar in safety bidding
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.
- Safe-haven dollar lifted by rise in coronavirus cases
The U.S. dollar was slightly higher on Wednesday afternoon as evidence of a surge in coronavirus cases in some U.S. states and in Beijing sent investors into safe-haven assets.
- Fed's Powell beats drum for more government aid to bolster economy
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.
- Hertz suspends share sale after U.S. SEC raises objections
Bankrupt Hertz Global Holdings Inc on Wednesday suspended its plan to sell up to $500 million in new shares after the U.S. Securities and Exchange Commission (SEC) raised objections to the sale, the car rental firm said on Wednesday.