Dow shuts Midland operations after flood waters sweep in
Dow Inc said on Wednesday it has shut down all operating units at its headquarters in Midland, Michigan, after flood waters breached its sites following the collapse of two dams.
Oil gains, stocks rally on renewed recovery hopes
Crude prices rose and a gauge of global equities broke out of a three-week trading range on Wednesday as investors bet on a rapid recovery from the coronavirus-induced recession.
U.S. arrests two men wanted by Japan over ex-Nissan boss Carlos Ghosn’s escape
U.S. authorities on Wednesday arrested a former U.S. Army Special Forces soldier and another man in Massachusetts wanted by Japan on charges that they enabled the escape of former Nissan Motor Co boss Carlos Ghosn out of the country.
U.S. House to vote on extending small business coronavirus loan program
Lawmakers in the U.S. House of Representatives plan to vote again next week on giving small businesses more time to utilize their coronavirus aid under the Paycheck Protection Program, House Speaker Nancy Pelosi said on Wednesday.
JPMorgan to use common desks to make offices easier to clean after pandemic
When JPMorgan Chase & Co staff return to offices in regions slowly re-opening from the coronavirus lockdown, some may be required to sit at common desks, or “hot desks,” a temporary seating arrangement that management hopes will make it easier to clean, according to a memo seen by Reuters.
France wants Renault to maintain its French plants
The French government will insist on preserving Renault production plants in France and wants it to remain the carmaker’s global centre for engineering, research, innovation and development, Prime Minister Edouard Philippe said on Wednesday.
Wall Street climbs as investors hold out for recovery; Nasdaq at three-month high
Wall Street’s main indexes surged and the Nasdaq hit its highest level in three months on Wednesday as investors clung to hopes of a recovery from a coronavirus-fueled slump amid signs of more stimulus for ailing sectors.
Oil jumps 4% on lower U.S. stocks, firmer demand
Oil prices climbed more than 4% on Wednesday on signs of improving demand and a drawdown in U.S. crude inventories, but gains were capped by worries over the economic fallout from the coronavirus pandemic and weak refining margins.
Target’s online sales surge eases coronavirus pain
A surge in Target Corp’s online sales due to panic buying during the coronavirus crisis helped the big-box retailer post better-than-expected quarterly results on Wednesday, even as it grappled with soaring operational costs.
Lowe’s says surging sales will not last
Lowe’s Cos Inc warned on Wednesday that high spending on do-it-yourself projects by people hunkered down at home due to coronavirus lockdowns would taper off in the coming months, as a deep economic recession looms on the horizon.
