Oil rise on positive news of COVID-19 drug study
Oil rose on Wednesday on hopes for economic recovery and for a clinical trial showing a cheap steroid could help save some critically ill coronavirus patients but fears of a second wave of the virus curbed gains.
Dollar treads water on Fed views, geopolitics
The dollar was little changed on Wednesday after U.S. retail sales rose more than expected in May, although caution kept investors from aggressively buying riskier currencies like the Australian dollar.
HSBC revives plan for 35,000 jobs cuts delayed by pandemic
HSBC is resuming a redundancy plan it put on ice after the coronavirus outbreak, and will cut around 35,000 jobs over the medium term, a memo seen by Reuters on Wednesday showed.
Oil falls as U.S. crude stocks build amid virus resurgence fears
Oil prices declined on Wednesday as data showed an increase in U.S. crude and fuel inventories, raising the prospect of oversupply as a potential second wave of the coronavirus pandemic threatened to halt any recovery in demand.
HSBC revives plan to axe 35,000 jobs, memo shows
HSBC is resuming a massive redundancy plan it had put on ice after the coronavirus outbreak, and will cut 35,000 jobs over the medium term, a memo seen by Reuters on Wednesday showed.
United Airlines sweetens exit deal for flight attendants
United Airlines sweetened on Tuesday a voluntary exit package for flight attendants and extended the application deadline, saying it needed “a lot more people to sign up” to avoid involuntary layoffs in October, according to a document seen by Reuters…
Asia stocks turn cautious on virus surge, geopolitics
Asian share markets took a cautious turn on Wednesday as a resurgence of global coronavirus cases challenged market confidence in a rapid economic recovery, even as the rebound in U.S. retail sales in May broke all records.
United Airlines sweetens voluntary exit deal for flight attendants
United Airlines sweetened a voluntary exit package for flight attendants and extended the application deadline, saying that while “thousands of employees” signed up, “we’re finding that’s not enough,” according to a document seen by Reuters.
Dollar firm after U.S. retail sales jump, risk currencies softer
The dollar held firm against many of its rivals on Wednesday after U.S. retail sales jumped far more than expected in May,
Oil slumps as U.S. crude stocks build amid virus resurgence fears
Oil prices fell on Wednesday as data showed an increase in U.S. crude and fuel inventories, raising the prospect of oversupply as a potential second wave of the coronavirus pandemic threatened to halt any recovery of demand.
