U.S. lawmakers challenge Facebook over Libra cryptocurrency plan
U.S. lawmakers bashed Facebook on Wednesday over its planned cryptocurrency, saying the company had not shown it could be trusted to safeguard the world financial system and consumers’ data.
Trade concerns dent stocks; U.S. Treasury yields rise
A gauge of global stocks declined for a second straight session and U.S. Treasury yields rose as trade concerns again began to bubble and U.S. earnings season picked up steam.
Oil prices steady after U.S. fuel inventories build
Oil prices on Wednesday steadied after plummeting more than 3% in the previous session, but were weighed down by U.S. government data that showed large builds in refined product stockpiles.
Facebook faces more scrutiny from Congress over Libra cryptocurrency plan
Facebook Inc faces more questioning by U.S. lawmakers on Wednesday over its planned cryptocurrency, after a bruising first bout when senators from both parties condemned the project, saying the company had not shown it could be trusted.
Microsoft, AT&T sign cloud deal worth more than $2 billion
Microsoft Corp and AT&T Inc on Wednesday said they reached a deal under which the telecommunications company will tap Microsoft’s Azure cloud service for its computing needs and use Microsoft 365, which includes Office productivity software, for much of its 268,000-strong workforce.
Boeing to spend $50 million to support 737 MAX crash victim families
Boeing Co said on Wednesday it will dedicate half of a $100 million fund it created to address two crashes of its 737 MAX planes to financial relief for the families of those killed, with compensation expert Ken Feinberg hired by the world’s largest p…
Wall St. flat as railroads slide after CSX signals trade impact
U.S. stocks treaded water on Wednesday as trade-related weakness hurt CSX Corp’s profit, leading to a decline in railroad stocks and offsetting gains in shares of Abbott and Qualcomm.
Boeing to spend half of $100 million fund to support 737 MAX crash victim families
Boeing Co said on Wednesday at least half of its $100 million fund for victims and communities affected by two deadly 737 MAX crashes would go directly to the families of those killed.
Wall Street opens flat, investors shrug off bank results
U.S. stocks opened flat on Wednesday as trade worries and concerns about the balance of monetary policy and growth outweighed solid results from Bank of America and a boost to chipmakers from Dutch company ASML.
Bank of America trims net interest income guidance
Bank of America Corp lowered its annual net interest income guidance on Wednesday to reflect a weakened interest rate environment as the second-largest U.S. lender reported higher-than expected earnings fueled by strong consumer trends.
