Asian stocks set to track U.S. gains as Fed steps up support
Asian stocks were set to follow a late Wall Street surge on Tuesday, after the Federal Reserve’s fresh move to support financial markets through the coronavirus pandemic cheered investors.
U.S., China to each allow four weekly flights for airlines; Delta to fly next week
The United States and China will each allow four weekly flights between the two countries, the U.S. Transportation Department said on Monday, easing a standoff on travel restrictions in the midst of the novel coronavirus pandemic.
Fed launches long-awaited Main Street lending program, seeks to reach nonprofits
The Federal Reserve on Monday launched its Main Street Lending Program, the most complex program undertaken yet by the U.S. central bank to help keep the backbone of the economy from buckling under the strains of the coronavirus pandemic.
Embraer secures $600 mln loan as commercial aviation chief departs
Embraer SA said on Monday it had secured a $600 million loan, partly backed by Brazil’s government, at the same time as a key executive departed the planemaker weeks after a potentially transformational deal with Boeing Co fell apart.
Delta to resume passenger flights to China next week
Delta Air Lines said on Monday it would resume passenger flights to Shanghai from Seattle, via Seoul, next week following Chinese government approval for U.S. carriers to fly there, with once weekly flights from Seattle and Detroit beginning in July.
U.S. companies can work with Huawei on 5G, other standards: Commerce Dept
The United States on Monday confirmed a Reuters report that it will amend its prohibitions on U.S. companies doing business with China’s Huawei [HWT.UL] to allow them to work together on setting standards for next-generation 5G networks.
GM CEO optimistic on U.S. demand, China, EV profitability
General Motors Co’s top executive struck an optimistic note on Monday about U.S. new vehicle demand despite the coronavirus pandemic, and the ability to sell electric vehicles at a profit, especially in China.
Proxy adviser ISS opposes re-election of Tesla chairwoman
Proxy adviser Institutional Shareholder Services Inc (ISS) on Monday urged Tesla Inc shareholders to vote against the re-election of chairwoman Robyn Denholm at the electric carmaker’s annual meeting next month.
Apple-backed study sheds light on physical sales through App Store
Apple Inc on Monday released the results of a study that found its App Store spurred $458 billion in sales last year from categories such as retail of physical goods, ride-hailing and advertising from which the iPhone maker takes no commission.
Embraer to receive $600 million loan, partly backed by government, due to coronavirus
Planemaker Embraer said on Monday it will receive a $600 million loan, financed partly by Brazil’s government, to help the company weather the coronavirus crisis that has ravaged the air travel industry.
