Exclusive: Chevron to cut up to 15% of staff amid restructuring
Chevron Corp will cut 10% to 15% of its worldwide workforce as part of an ongoing restructuring at the second-largest U.S. oil producer.
Wall Street frets as ‘unloved’ stock rally powers on
The love-hate relationship many investors had with U.S. stocks during the more-than-decade-long bull market is reemerging, as equities steadily climb in the face of economic devastation and uncertainty over the coronavirus pandemic.
Huawei CFO loses key aspect of U.S. extradition case in Canada court
Huawei Technologies Co Ltd’s Chief Financial Officer Meng Wanzhou has lost a key aspect of the trial on her extradition to the United States, a Canadian court announced on Wednesday.
Micron raises third-quarter revenue forecast
Micron Technology Inc raised its revenue forecast for the third quarter on Wednesday to a range of $5.2 billion to $5.4 billion from $4.6 billion to $5.2 billion, sending its shares about 3% higher.
Lufthansa board rejects EU conditions on $10 billion bailout
Lufthansa’s $10 billion government bailout was thrown into doubt on Wednesday after the German airline’s supervisory board refused to accept the conditions attached by Brussels.
S&P 500 rises on boost from bank shares
The S&P 500 edged higher in choppy trading on Wednesday as optimism over a pick up in business activity helped offset worries over simmering U.S.-China tensions, although gains were capped by losses in technology stocks.
23 U.S. states sue Trump administration over fuel efficiency rollback
A group of 23 U.S. states led by California, the District of Columbia and four major cities are filing suit Wednesday to challenge a Trump administration decision to weaken Obama administration fuel efficiency standards.
South African Airways can still be saved with funding: administrators
South African Airways (SAA) can still be saved if it gets the necessary funding, the state-owned airline’s administrators said on Wednesday, adding they were talking to the government about a potential restructuring.
Ford to gradually resume operations, production at Mexican plants
Ford Motor Co will gradually resume operations and production at several of its Mexican plants, the automaker said on Wednesday, as the sector begins to come back online as coronavirus contingencies are relaxed.
Trump threatens social media shutdown over Twitter fact-check label
U.S. President Donald Trump on Wednesday threatened to regulate or shut down social media companies for stifling conservative voices, a day after Twitter attached a warning to some of his tweets prompting readers to fact check the president’s claims.
