Wall Street jumps on glimmers of economic recovery
Wall Street surged on Tuesday as a record jump in retail sales indicated the U.S. economy is on the road to recovery, five months into its pandemic-inflicted recession.
Appeals court sides with exchanges in U.S. SEC fee row
A U.S. appeals court ruled on Tuesday that the Securities and Exchange Commission cannot force stock exchanges to conduct a costly experiment to see how the fees they charge and the incentives they offer affect brokers’ trading habits.
Stocks, dollar gain on U.S. retail sales, drug trial
A record rebound in U.S. retail sales, fresh support from the Federal Reserve and Bank of Japan, and upbeat trial results for a COVID-19 treatment boosted risk appetite on Tuesday, driving global equity markets higher and strengthening the dollar.
China keen to seek benefits from pandemic, distressed U.S. assets: report
U.S. lawmakers and policymakers should be wary of China’s moves to target vulnerable U.S. assets and expand its market share in the wake of the global economic crisis triggered by the novel coronavirus, according to a study prepared for a U.S. trade gr…
Oil prices rise on hopes of demand recovery
Oil prices edged higher on Tuesday as Wall Street surged and the International Energy Agency (IEA) increased its oil demand forecast for 2020, but gains were capped by worries about a second wave of coronavirus cases.
Fed corporate bond move relieves potential stigma for companies, say investors
The New York Federal Reserve’s planned launch on Tuesday of a bond-buying facility could help ease the potential stigma for companies of asking for help and create an important framework for what the central bank steps in to purchase, analysts and inve…
U.S. economy starts long recovery as retail sales post record jump
U.S. retail sales increased by the most on record in May after two straight months of sharp declines as businesses reopened, offering more evidence that the recession triggered by the COVID-19 pandemic was over or drawing to an end.
Factbox: What changes are companies making in response to George Floyd protests?
The corporate response to a wave of protests over the treatment of African-Americans has included pledges to increase diversity, donations to civil rights groups and, in some cases, changes in policies or practices long sought by critics. Here is a sam…
Green shoots welcome but recovery still a long road, Fed’s Powell says
A full U.S. economic recovery will not occur until the American people are sure that the novel coronavirus epidemic has been brought under control, Federal Reserve Chair Jerome Powell said on Tuesday, as he began the first of two days of hearings befor…
Hilton to cut 2,100 corporate jobs globally
Hotel chain Hilton Worldwide Holdings Inc said on Tuesday it would cut about 22% of its corporate workforce, or 2,100 jobs, following the coronavirus outbreak that has ravaged the global travel industry.
