J&J to begin human trials of COVID-19 vaccine in second half of July
Johnson & Johnson said on Wednesday it would bring forward by two months human trials of its potential COVID-19 vaccine to the second half of July, as the drugmaker rushes to develop a shot for the contagious respiratory disease.
S&P opens higher, Nasdaq hits record as all eyes turn to Fed
U.S. stocks opened higher on Wednesday, with Nasdaq hitting another record high, as attention shifted to the Federal Reserve’s first projections on the economy post-coronavirus outbreak.
Mnuchin says U.S. recovery has begun, will gain strength in Q3, Q4
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.
Oil falls below $41 as U.S. inventory rise revives glut worries
Oil fell more than 1% to below $41 a barrel on Wednesday after a report showed a rise in crude inventories in the United States, reviving concerns about oversupply and weak demand because of the coronavirus crisis.
Delta expects second-quarter revenue to slump, looks to amend debt deals
U.S. carrier Delta Air Lines on Wednesday forecast a 90% plunge in second-quarter revenue and warned it would need to renegotiate its debt agreements to avoid a default next year.
U.S. consumer prices post third straight monthly drop
U.S. consumer prices fell for a third straight month in May and underlying inflation was weak as demand remained subdued amid a recession caused by the COVID-19 pandemic.
Delta Air expects to have $10 billion in cash, cash equivalents by end-2020
U.S. carrier Delta Air Lines said on Wednesday it expects to have $10 billion in cash, cash equivalents, short-term investments and borrowing capacity by year-end.
Ford, Volkswagen to make about 8 million commercial vehicles
Ford Motor Co and Volkswagen AG said on Wednesday they would make up to 8 million units of medium pickup trucks and commercial vans during the lifecycle of the vehicles as part of an alliance announced last year.
Fiat Chrysler plans to resume Panda production on June 16: union
Fiat Chrysler (FCA) plans to resume production of its Panda small car at its plant in Pomigliano, near Naples in southern Italy, on June 16, a union representative said on Wednesday.
Dollar hits three-month lows amid Fed easing speculation
The dollar dropped to a three-month low amid speculation the U.S. Federal Reserve will announce later on Wednesday it intends to keep a recent rise in bond yields in check.
