Exclusive: Key U.S. senators draft plan to reform new plane design approvals after 737 MAX crashes
Two key U.S. senators are circulating a bipartisan draft bill that would reform how the Federal Aviation Administration certifies new aircraft in the wake of two fatal Boeing 737 MAX crashes that killed 346 people.
White House sees red state/blue state divide in post-coronavirus economic recovery
A top White House economic adviser on Friday predicted an “increasing divergence” between states controlled by Republican governors and those led by Democrats, saying Republican “red” states opening up faster will see a stronger economic recovery.
U.S. consumer sentiment rises in early June
U.S. consumer sentiment perked up in early June as households responded to the reopening of businesses, which had been shuttered to slow the spread of COVID-19, and a rebound in hiring.
U.S. consumer confidence rises; COVID-19, unemployment shadow lingers
U.S. consumer sentiment perked up in early June as households cheered the reopening of businesses and a surprise rebound in hiring, though they did not expect a significant improvement in the economy amid fears of a resurgence in COVID-19 infections.
Oil heads for weekly loss on coronavirus resurgence fears
Oil was little changed on Friday and headed for a first weekly fall since April as new U.S. coronavirus cases spiked, raising the prospect of a second wave of the virus hitting demand.
World shares stem losses as fresh lockdown fears fade
Global equity markets bounced back on Friday as investors took in stride the U.S. Federal Reserve’s outlook for a long road to recovery and bet shutdowns to fight the coronavirus pandemic were unlikely to be reinstated widely.
Wall Street rises after biggest pullback since March
Wall Street’s main indexes rose on Friday, after a steep decline in the previous session, but were still on track for their worst week in nearly three months on fears of a rise in new coronavirus infections and economic worries.
Fed’s Barkin says some jobs lost during crisis will not come back
Richmond Federal Reserve Bank President Tom Barkin he fears the coronavirus pandemic could have effects that last beyond the next couple of months and that some of the jobs lost during the downturn may not come back.
U.S. regulator sides with FCA in Jeep trade case against Mahindra
A U.S. regulator ruled that India’s Mahindra and Mahindra Ltd infringed upon the intellectual property rights of Fiat Chrysler Automobiles NV’s (FCA) Jeep brand, barring the sale of the vehicles in question.
Fed sees ‘persistent fragilities’ for households and businesses: Fed report
The Federal Reserve expects U.S. household finances and business balance sheets to grapple with “persistent fragilities” as a result of the shock to economic activity arising from the coronavirus pandemic, the central bank said in a report to Congress …
