Wall Street opens higher after oil-led selloff
U.S. stock markets opened higher after a two-day selloff on Wednesday as upbeat quarterly earnings reports lifted sentiment following a record crash in oil prices, although companies warned of more pain in the coming months.
Zoom raises encryption level with upgraded meeting app
Zoom Video Communications Inc said on Wednesday it was upgrading the encryption features on its video conferencing app to better safeguard meeting data and offer protection against tampering. The new version of the app, Zoom 5.0, will release withi…
U.S. Treasury chief looks for most if not all of U.S. economy to be open later in summer
U.S. Treasury Secretary Steven Mnuchin said on Wednesday most, if not all, of the U.S. economy should be reopened by later in the summer after a devastating shutdown to try to stem the spread of the coronavirus.
Air travel resumption will require social distancing, says EU
The European Commission will next month present a set of rules for the safe reopening of air travel when coronavirus pandemic lockdowns end, including social distancing in airports and planes, the EU’s transport chief said on Wednesday.
U.S. House to pass nearly $500 billion more in coronavirus aid on Thursday: Pelosi
The U.S. House of Representatives will pass Congress’ latest coronavirus aid bill on Thursday, House Speaker Nancy Pelosi said, paving the way for nearly $500 billion more in economic relief amid the pandemic.
Next round of coronavirus business aid to be as fair as possible: Kudlow
White House economic adviser Larry Kudlow on Wednesday said the Trump administration would try to fairly distribute the next round of aid for small businesses hurt by the coronavirus outbreak, saying demand for the first round of funding was “overwhelm…
Nissan to resume production at Spanish plant, pilot safety steps in UK
Nissan will restart production at its Barcelona factory from May 4 and it will begin piloting safety measures at its British plant with the return of around 50 staff this week, the Japanese carmaker said on Wednesday.
Migrant wages sent home set to drop $142 billion in 2020: World Bank
Global remittances are set to tumble by $142 billion in 2020, the sharpest fall in recent history, the World Bank estimates, as the coronavirus crisis chokes off a cash lifeline for hard-pressed households in poorer countries.
Baker Hughes reports $10 billion loss, revenue miss, as demand sinks
Oilfield firm Baker Hughes Co reported a $10 billion loss and lower-than-expected revenue in the first quarter on Wednesday as an 80% plunge in oil prices crushed demand for services and equipment.
Brent crude oil rises after hitting lowest this century on coronavirus crisis
Brent crude oil rose on Wednesday after slumping below $16 a barrel to its lowest since 1999, supported by voluntary as well as the prospect of forced production cuts to tackle a glut caused by the coronavirus crisis.
