Facebook to launch new shopping feature across apps
Facebook Inc is launching Shops, a service that will allow businesses to display and sell products on the world’s largest social network’s platforms, Chief Executive Mark Zuckerberg said on Tuesday.
Oil dips as U.S. Senate grills Fed chair, Treasury secretary
Oil prices pulled back slightly on Tuesday as a U.S. Senate committee grilled Federal Reserve Chair Jerome Powell and Treasury Secretary Steven Mnuchin about aid packages intended to bolster the economy.
Airlines say ticket cancellations slowing but demand recovery still distant
Top U.S. airlines and Air Canada on Tuesday reported slower ticket cancellations and an improvement in bookings on some routes, sending their shares higher, though executives warned that rebuilding demand to pre-pandemic levels would be tough.
S&P 500 flat after mixed retail earnings
The S&P 500 was largely unchanged on Tuesday, after a strong rally in the prior session, as investors sifted through a mixed batch of results from major retailers including Walmart and Home Depot.
Fiat Chrysler’s loan request raises doubts about 5.5 euro billion dividend
Italy could look into Fiat Chrysler’s planned 5.5 billion euro ($6 billion) payout as part of its merger with Peugeot after the Italian-American carmaker asked for a 6.3 billion euro state-backed loan, a senior government source said.
Lufthansa expects hundreds of aircraft to be grounded until 2022
Lufthansa is bracing for hundreds of aircraft to remain grounded due to the coronavirus pandemic well into 2022 and that further job cuts at its maintenance and catering businesses were inevitable.
Kohl’s exits Jennifer Lopez, other women’s brands as losses mount
Kohl’s Corp said the coronavirus crisis would have a material impact on results this year as it removed eight brands including Jennifer Lopez, Juicy Couture and Popsugar from its stores and warned demand for women’s apparel would remain weak.
FAA to mandate new safety-management tools for airplane manufacturers
The Federal Aviation Administration said Tuesday it would require Boeing Co and other aircraft manufacturers to adopt new safety-management tools in the wake of two fatal Boeing 737 MAX crashes that killed 346 people.
JPMorgan directors reelected, former Exxon executive overcomes opposition
JPMorgan Chase & Co shareholders voted to reelect all of the bank’s board members on Tuesday, including a former Exxon Mobil Corp CEO who drew criticism from environmental groups and New York City’s comptroller and pension system leader.
GM says it is ‘almost there’ on million-mile electric vehicle battery
General Motors Co is “almost there” on developing an electric vehicle battery that will last one million miles, a top executive said on Tuesday.
