In nod to grim U.S. outlook, Fed’s Powell calls for more fiscal support
The head of the Federal Reserve warned on Wednesday of an “extended period” of weak economic growth, vowed to use the U.S. central bank’s power as needed, and called for additional fiscal spending to stem the fallout from the coronavirus pandemic.
Trump extends order on U.S. telecom supply chain security until 2021
U.S. President Donald Trump on Wednesday extended for another year an executive order signed in May 2019 declaring a national emergency and barring U.S. companies from using telecommunications equipment made by firms posing a national security risk.
Wall Street falls on Powell’s grim outlook
U.S. stocks fell sharply for the second day on Wednesday after Federal Reserve Chairman Jerome Powell warned of extended economic weakness due to the coronavirus pandemic but did not mention new central bank support.
Climate activists up stakes at Exxon, backing calls for independent board chairman
Shareholder activists prodding Exxon Mobil Corp on climate-change proposals are backing calls for an independent board chairman as the oil major steps up efforts to keep climate proposals off its ballot.
Return of Big Mac – McDonald’s UK emerges from lockdown
After over seven weeks of coronavirus lockdown, Britons hankering for a Big Mac may be a step closer to getting their hands on one after McDonald’s reopened 15 restaurants on Wednesday for delivery only.
Japan´s Softbank sees consolidation in Latam food delivery
Japan’s SoftBank Group Corp , a shareholder in some of Latin America’s largest food delivery companies, expects consolidation in most markets, a senior executive said on Wednesday.
U.S. producer prices record largest drop since 2009 as coronavirus suppresses demand
U.S. producer prices fell by the most since 2009 in April, leading to the largest annual decline in nearly 4-1/2 years, bolstering some economists’ predictions for a brief period of deflation as the novel coronavirus depresses demand.
Exclusive: Europe nears crisis plan for public stakes in key companies – sources
EU officials are seeking to finalise a plan for public stakes to be taken in key European companies to shield them from the economic fallout of the COVID-19 pandemic, three sources familiar with the matter told Reuters.
OPEC slashes oil demand forecast again, sees biggest hit this quarter
OPEC slashed its forecast on Wednesday for global oil demand this year and predicted this quarter would see the steepest decline even as some countries ease lockdown measures designed to stem the coronavirus outbreak.
Mexico revs up car industry from Monday, along with mining
Mexico could begin opening some automotive factories from May 18 under a government plan unveiled on Wednesday that loosens coronavirus restrictions and paves the way for U.S. car giants to ramp up output dependent on parts made south of the border.
