U.S. producer prices post biggest drop since 2009
U.S. producer prices fell by the most since 2009 in April, leading to the largest annual decline in nearly 4-1/2 years, which could bolster some economists’ predictions for a brief period of deflation as the novel coronavirus depresses demand.
Chanel says increasing prices on handbags, small leather goods
French luxury house Chanel said on Wednesday it was increasing prices on its handbags and some small leather goods worldwide to take into account a rise in the cost of raw materials amid the coronavirus pandemic.
Fed’s Powell says economy may face ‘extended period’ of weak growth
Federal Reserve Chair Jerome Powell, in a sober review of where the U.S. economy stands on the cusp of its reopening, said on Wednesday the country could face an “extended period” of weak growth and stagnant incomes, pledged to use more Fed power as ne…
Instant view: Powell: Brace for ‘extended period’ of economic woe
Federal Reserve Chair Jerome Powell, in a sober review of where the U.S. economy stands on the cusp of its reopening, said on Wednesday the country could face an “extended period” of weak growth and stagnant incomes, pledged to use more Fed power as ne…
Boeing to pay Brazil airline Gol $412 million for 737 MAX groundings
Brazil airline Gol Linhas Aereas Inteligentes said on Wednesday it will receive 2.4 billion reais ($412 million) from Boeing Co as compensation for the grounding of the 737 MAX plane.
Futures turn negative as Fed’s Powell warns of prolonged recession
Dow and S&P futures turned negative on Wednesday as Federal Reserve Chairman Jerome Powell warned of a prolonged U.S. recession due to the coronavirus outbreak in his prepared remark before the address.
Tesla can prepare to reopen U.S. plant in California as early as next week
Tesla Inc can take additional steps ahead of a potential reopening of its California assembly plant as soon as Monday after Chief Executive Elon Musk had vowed to defy authorities and won the backing of President Donald Trump, officials said.
Fed Chair Powell warns of prolonged U.S. recession after coronavirus
Jerome Powell, chairman of the Federal Reserve board of governors, warned Wednesday that the long-term health of the U.S. economy may depend on more fiscal stimulus to fight the economic impacts of the coronavirus.
Airline SAS to require face masks on all flights
Swedish-Danish airline SAS said on Wednesday wearing a face mask would be compulsory on all its flights through to the end of August to reduce the risk of coronavirus contagion.
Qatar Airways in talks to defer Airbus, Boeing orders: SCMP
Qatar Airways, one of the Middle East’s biggest airlines, is in talks with Airbus and Boeing to defer aircraft orders for several years, its chief executive was quoted as saying on Wednesday.
