U.S. crude strengthens as certain stimulus measures to continue
U.S. crude ended slightly higher on Tuesday, as U.S. Treasury Secretary Steven Mnuchin said he supported extending certain measures intended to bolster the economy, while Brent ended lower on concerns that output cuts might not be sufficient.
U.S. economy won’t reclaim all of its lost ground until after 2021: CBO
The U.S. economy should bounce back sharply in the third quarter after its deep coronavirus-related collapse, but it will not fully retake recover lost ground until sometime after next year, the non-partisan Congressional Budget Office said on Tuesday….
S&P stumbles as Moderna sinks on report questioning trial results
The S&P 500 closed lower on Tuesday, as investors focused on a report questioning Moderna’s recent coronavirus vaccine early-stage trial results, wiping out modest gains on the benchmark index in the last hour of trading.
Airlines say ticket cancellations slowing; business models may change
Top U.S. airlines and Air Canada on Tuesday reported slower ticket cancellations and an improvement in bookings on some routes, though executives said overall demand remained weak and changes to travel rules may force new business models.
AT&T shuts Venezuela subscription TV unit, citing U.S. sanctions
AT&T Inc said on Tuesday it was shutting its DirecTV subscription access to Venezuela due to U.S. sanctions, cutting off a key source of entertainment for millions of people stuck in their homes under a strict coronavirus quarantine.
Lockheed’s F-35 production could slow by 24 jets as COVID-19 hits suppliers
Lockheed Martin said on Tuesday it will slow production of its stealthy F-35 fighter jets at its Texas facility, possibly delaying delivery of between 18 and 24 jets due to a parts shortage as the coronavirus hampers production across the jet’s vast s…
U.S. workers hit McDonald’s with class action over COVID-19 safety
Five McDonald’s workers in Chicago filed a class action lawsuit against the chain on Tuesday, accusing it of failing to adopt government safety guidance on COVID-19 and endangering employees and their families.
American Airlines may use loyalty program as collateral for U.S. debt: President
American Airlines Group Inc may use its Advantage loyalty program as collateral for a secured U.S. government loan, President Robert Isom said at a conference on Tuesday, noting that government talks are ongoing.
Fiserv’s First Data pays $40 million to settle FTC charges it aided merchants’ fraud
First Data Merchant Services LLC and a former executive will pay nearly $40.3 million to settle U.S. civil charges they knowingly processed payments and helped launder credit card transactions in four scams that harmed hundreds of thousands of consumer…
Mnuchin defends U.S. fiscal response to pandemic, seeks payroll loan extension
U.S. Treasury Secretary Steven Mnuchin on Tuesday defended the Trump administration’s fiscal response to the coronavirus pandemic and told senators he was willing to consider extending and modifying a payroll loan program for small businesses.
