White House official warns of negative shocks before rebound later in 2020
Top Trump adminstration officials on Tuesday predicted a strong economic rebound in the fourth quarter as the coronavirus fades, but a senior White House adviser warned that near-term unemployment and GDP data will be a “very grave” negative shock.
U.S. appeals court asks why Facebook encryption order should stay sealed
Federal appeals court judges asked prosecutors on Tuesday why a lower court could seal a ruling that absolved Facebook from having to wiretap a criminal suspect using one of the company’s encrypted services.
Boeing 737 MAX expected to remain grounded until at least August: sources
Boeing Co’s grounded 737 MAX jet is expected to remain grounded until at least August as the manufacturer continues to grapple with software issues, people briefed on the matter told Reuters.
Brent settles higher on easing lockdowns, U.S. crude falls amid storage shortage
U.S. crude prices settled lower on Tuesday, falling about 3% as domestic stockpiles were expected to have risen closer to record highs amid tightening storage despite plans to cut production during the COVID-19 pandemic.
JetBlue, Delta seek U.S. OK to suspend flights to 25 U.S. airports
Delta Air Lines , JetBlue Airways Corp and Spirit Airlines on Tuesday asked the U.S. Transportation Department for approval to suspend flights to more than two dozen U.S. airports.
Stocks rise despite mixed earnings while investors weigh easing of lockdowns
Stock markets across the globe eked out gains on Tuesday, riding out sharp swings on Wall Street as mixed corporate earnings results and dramatic moves in oil prices delivered yet another dose of investor jitters.
Toilet paper trophy hunters on a roll as U.S. shortages start easing
U.S. consumers have begun spotting rare Quilted Northern and Charmin toilet paper rolls on store shelves across the United States, as stocks start building after weeks of severe shortages.
Russia’s Yandex.Taxi targets continued profitability even as rides plummet
Yandex.Taxi, the ride-hailing arm of Russian internet giant Yandex , is hoping to remain profitable in the second half of this year despite a sharp drop in sales as coronavirus restrictions keep people across the country at home.
Wells Fargo’s relationship with NRA is ‘declining’: CEO
Wells Fargo & Co’s relationship with the National Rifle Association (NRA) is “declining,” Chief Executive Charles Scharf told investors on Tuesday.
Fears of surge in coronavirus death toll weigh on S&P, Nasdaq
The S&P 500 and Nasdaq indexes eased on Tuesday as scientists warned of an increase in U.S. coronavirus deaths if states lifted lockdowns too quickly, while healthcare stocks slumped after a sales warning from Merck.
