Dollar rises as investors take refuge ahead of Fed
The U.S. dollar rose from early lows on Wednesday as investors wary of wider geopolitical risks sought its relative safe haven ahead of midday remarks by Federal Reserve Chair Jerome Powell.
S&P 500, Dow flat after three-day rally
The S&P 500 and the Dow were largely flat on Wednesday as a record rise in coronavirus cases in six U.S. states dented sentiment following a three-day rally on hopes of a swift recovery from a coronavirus-driven downturn.
FAA ‘stonewalling’ Boeing 737 MAX probe after fatal crashes -senator
The U.S. Federal Aviation Administration has been “stonewalling” senators conducting an investigation into the design and development of Boeing Co’s 737 MAX in the wake of deadly crashes, a top Republican senator told a hearing on Wednesday.
United Airlines sweetens exit deal for flight attendants, others
United Airlines sweetened on Tuesday a voluntary exit package for frontline employees like flight attendants and gate agents, saying it needed “a lot more people to sign up” to avoid involuntary layoffs in October, according to a staff email seen by R…
EU worried Fiat-PSA deal may hit competition in vans
Fiat Chrysler and Peugeot maker PSA’s proposed merger may harm competition in small vans in 14 EU countries and Britain, EU antitrust regulators said on Wednesday as they opened a four-month investigation into the deal.
FCA moves closer to state guarantee for $7.1 billion loan: source
Italy’s Treasury has taken a further step towards approving a state guarantee for a 6.3 billion euro ($7.1 billion) loan for Fiat Chrysler’s Italian unit, a government source told Reuters on Wednesday.
U.S. housing starts miss expectations; permits rebound strongly
U.S. homebuilding increased less than expected in May, but a strong rebound in permits for future home construction suggested the housing market was starting to emerge from the COVID-19 crisis along with the broader economy.
Qualcomm aims to woo robotics developers with new chips, tools
Building robots and drones is messy: Developers must pull together sensors to be the eyes and ears, chips for the brains and motors to make the device move, tying them all together with several kinds of software.
Exclusive: Who’s in charge at Nissan? COO’s allies push to give him shared CEO role – sources
Nissan’s chief operating officer Ashwani Gupta helped engineer the troubled automaker’s latest turnaround plan. Now his allies are pressing the board to promote him to co-CEO to drive the new strategy, said four people with direct knowledge.
Oil falls on fears of more COVID-19 cases
Oil prices fell on Wednesday on fears about fresh outbreaks of COVID-19 but prices drew some support from stimulus measures and positive tests of a drug that could save some critically ill patients.
