Fiat, PSA $50 billion merger faces lengthy EU antitrust probe: sources
Fiat Chrysler and Peugeot maker PSA face a lengthy EU antitrust investigation after they declined to offer concessions in a bid to allay EU antitrust concerns about their planned $50 billion merger, people familiar with the matter said on Wednesday.
Dollar sinks to three-month lows as Fed keeps easing policy
The dollar extended losses, dropping to a fresh three-month low against a basket of major currencies on Wednesday after the Federal Reserve made no policy changes, as expected, and pledged to continue its asset purchases aimed at stabilizing a U.S. eco…
U.S. inflation subdued with economy in recession
U.S. consumer prices fell for a third straight month in May and underlying inflation was weak as demand for goods and services remained subdued amid a recession caused by the COVID-19 pandemic.
U.S. states accuse 26 drugmakers of generic drug price fixing in sweeping lawsuit
Twenty-six drug manufacturers were sued on Wednesday by the attorneys general of most U.S. states and several territories, which accused them of conspiring to reduce competition and drive up generic drug prices.
Fed sees growth contracting by 6.5% on year, pledges bondbuying at least ‘at current pace’
The U.S. Federal Reserve on Wednesday repeated its promise of continued extraordinary support for the economy as policymakers projected a 6.5% decline in gross domestic product this year and a 9.3% unemployment rate at year’s end.
U.S. May deficit nearly doubles to $399 billion
The U.S. federal budget deficit in May nearly doubled to $399 billion from a year earlier amid continued strong spending on coronavirus relief programs and a 25% drop in receipts, the Treasury Department said on Wednesday.
Oil edges higher, even as U.S. inventory rise revives glut worries
Oil rebounded from earlier losses on Wednesday, even as U.S. data showed crude inventories rose to a record high, reviving worries of a persistent glut due to weak demand.
Mnuchin says U.S. recovery has begun, will gain strength in third, fourth quarter
U.S. Treasury Secretary Steven Mnuchin said on Wednesday that the U.S. economy has already begun to rebound from the coronavirus pandemic and would “improve dramatically” in the third and fourth quarters.
American, Delta say demand uptick helping cash burn; United requiring health checklists
American Airlines Group Inc and Delta Air Lines Inc said on Wednesday that a modest recovery in demand was helping to slow daily cash burn rates in June after the U.S. government reported record low passenger numbers in April amid the coronavirus pan…
Europe’s Just Eat Takeaway in advanced talks to buy U.S. delivery firm Grubhub
European food ordering firm Just Eat Takeaway.com NV said on Wednesday it was in advanced talks to buy Grubhub Inc in an all-stock deal that, if completed, would create the world’s largest food delivery company by revenue.
