Fed lending program not for insolvent oil drillers, Kaplan says
Insolvent or overly leveraged firms, including oil drillers and oil services firms, won’t be able to tap the U.S. central bank’s “Main Street” emergency lending program, Dallas Federal Reserve President Robert Kaplan said on Wednesday.
World shares mixed amid hopes for business pickup; oil slides
Oil prices slid and world equity markets seesawed on Wednesday as investor hopes for a pickup in business activity were weighed against downbeat economic data and low fuel demand highlighted by a rise in U.S. crude stockpiles to three-year highs.
Gold price boosts Barrick profit as miner eyes copper deals
Barrick Gold Corp reported a nearly 55% rise in quarterly profit on Wednesday as gold prices surged, bolstering its ability to snap up mines including in copper, its chief executive said.
Facebook names first members of oversight board that can overrule Zuckerberg
Facebook Inc’s new content oversight board will include a former prime minister, a Nobel Peace Prize laureate and several constitutional law experts and rights advocates among its first 20 members, the company announced on Wednesday.
Factbox: What to know about Facebook’s content oversight board
Facebook Inc on Wednesday announced the first 20 members of its independent oversight board that can overrule the company’s own content moderation decisions. Here are some key facts about how the board will work:
Factbox: Who are the first members of Facebook’s oversight board?
Facebook Inc on Wednesday named the first members of its independent oversight board, which will be able to overturn the company’s decisions on individual pieces of content and recommend policy changes.
WTO must decide if U.S. complied with Boeing aid ruling, Airbus says
The World Trade Organization must decide whether the United States has fully complied with WTO rulings on illegal government aid to Boeing Co , and that process could take some time, a spokesman for Airbus said on Wednesday.
Abercrombie, Gap prepare to reopen stores as lockdowns ease
Abercrombie & Fitch Co and cash-strapped Gap Inc on Wednesday laid out plans to reopen stores in areas where lockdown curbs have eased, while also introducing social-distancing measures.
U.S. tells WTO ‘no valid basis’ for EU tariffs in Boeing-Airbus subsidy fight
The United States told the World Trade Organization on Wednesday there was “no valid basis” for the European Union to retaliate against U.S. goods since it has fully complied with WTO findings that Washington state’s now-repealed tax breaks for Boeing …
U.S. private payrolls dive by a record 20.2 million
U.S. private employers laid off a record 20.236 million workers in April as mandatory business closures in response to the novel coronavirus outbreak savaged the economy, setting up the overall labor market for historic job losses last month.
