Weak demand keeps U.S. inflation subdued
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.
Tesla shares surge past $1,000 as Musk revs up the Semi
Tesla Inc’s stock jumped above $1,000 a share on Wednesday after Chief Executive Elon Musk told his staff it was time to bring the Tesla Semi commercial truck to “volume production.”
With crisis response in place, Fed focuses on long term
The Federal Reserve completes its latest policy meeting on Wednesday with attention turning from its massive response to the coronavirus pandemic and toward its still-developing plans to strengthen and lengthen a nascent economic recovery.
Walmart’s Mexico business set to absorb two internal units
The Mexican unit of U.S. retailer Walmart said on Wednesday a shareholder meeting would discuss the absorption of two internal units, Holding de Restaurantes y Servicios and Tiendas Wal-Mart.
U.S. air passengers fell 96% in April to historic low: government
U.S. airlines carried 3 million passengers in April, a staggering 96% decline amid the coronavirus pandemic and flight restrictions, the Transportation Department said Wednesday.
Goldman Sachs forms fund to address racial injustice
Goldman Sachs Group Inc said on Wednesday it had launched a $10 million fund to support the work of organizations addressing racial injustice, structural inequity and economic disparity.
Dollar slips, stocks fall ahead of Fed meeting
The dollar slid to a three-month low and a gauge of global equities edged lower on Wednesday as investors awaited news at the end of a two-day meeting of the Federal Reserve and its plans to strengthen a nascent U.S. economic recovery.
Just Eat Takeaway in advanced talks to buy 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.
American Airlines CEO says burning less cash but demand outlook still uncertain
American Airlines Chief Executive Doug Parker said on Wednesday that he expects a daily cash burn of about $40 million in June, down from a previous forecast of $50 million per day, thanks to cost-savings measures to address the coronavirus pandemic.
Mall operator Simon Property abandons $3.6 billion acquisition of Taubman
Simon Property Group Inc , the biggest U.S. mall operator, said on Wednesday it was ending its $3.6-billion deal to buy Taubman Centers Inc , citing the beating the retail sector has taken during the COVID-19 pandemic.
