U.S. factory orders tumble in April
New orders for U.S.-made goods plunged in April, suggesting business spending remained depressed early in the second quarter amid the COVID-19 pandemic.
Warner Music strikes a chord in $1.9 billion U.S. IPO
Warner Music Group Corp said on Wednesday it raised $1.93 billion in the biggest U.S. initial public offering (IPO) so far in 2020, with the world’s third-largest recording label selling more shares than originally planned.
Oil falls from $40 as doubts emerge over next step on OPEC cuts
Oil fell on Wednesday after jumping for awhile above $40 a barrel, the highest since March, then retreating as doubts emerged about the timing and scale of a potential extension to the pact between OPEC and its allies to cut crude supplies.
Exclusive: Trump administration to bar Chinese passenger carriers from flying to U.S., sources say
President Donald Trump’s administration plans to bar Chinese passenger carriers from flying to the United States starting in mid-June as it pressures Beijing to allow U.S. air carriers to resume flights, three U.S. and airline officials briefed on the …
Air fares decline in further threat to profit: IATA
Airlines cut domestic fares by an average 23% last month as traffic picked up from April lows, global industry body IATA said on Wednesday, warning that post-coronavirus discounting posed a further threat to profitability.
U.S. services sector off 11-year trough; still contracting
U.S. services industry activity pushed off an 11-year low in May, but businesses appeared in no rush to rehire workers as they reopen, supporting views the economy could take years to recover from the devastation caused by the COVID-19 crisis.
U.S. labor market appears to stabilize as private payrolls fall less than expected
U.S. private payrolls fell less than expected in May, suggesting layoffs were abating as businesses reopen, though the overall economy’s recovery from the COVID-19 pandemic will be slow.
Saudi, Russia agree oil cuts extension, raise pressure for compliance
OPEC leader Saudi Arabia and non-OPEC Russia have agreed a preliminary deal to extend existing record oil output cuts by one month while raising pressure on countries with poor compliance to deepen their cuts, OPEC+ sources told Reuters.
Will Americans still travel abroad? Only with cast-iron coronavirus cover
In the new reality of COVID-19, some Americans may still be willing to travel abroad – but they’re going to make sure they’re insured up to the hilt.
Wall Street opens higher on recovery optimism
U.S. stocks opened higher on Wednesday as investors remained optimistic about an economic rebound from a coronavirus-led slump amid continuing civil unrest in the country.
