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Wall Street climbs on healthcare, tech push

May 28, 2020 by  
Filed under News

U.S. stocks rose again on Thursday, boosted by healthcare and technology stocks, as investors continued to bet on a swift recovery from the coronavirus-driven economic slump.


Source: Reuters Business News

U.S. major airlines roll out more options to avoid staff lay-offs

May 28, 2020 by  
Filed under News

The top three U.S. airlines, hit hard by the coronavirus pandemic, are rolling out fresh programs to induce tens of thousands of employees to accept voluntary leave or early retirement in the hope of avoiding widespread furloughs in the fall, company memos show.


Source: Reuters Business News

COVID-19 infects more than 3,000 U.S. meatpacking workers: union

May 28, 2020 by  
Filed under News

More than 3,000 U.S. meatpacking workers have tested positive for COVID-19 and at least 44 workers have died, the country’s largest meatpacking union said on Thursday, reflecting an increasing toll on plant employees.


Source: Reuters Business News

Trump set to order review of law that protects social media companies

May 28, 2020 by  
Filed under News

U.S. President Donald Trump is expected to order a review of a law that has long protected internet companies, including Twitter and Facebook, an extraordinary attempt to intervene in the media that experts said was unlikely to survive legal scrutiny.


Source: Reuters Business News

Trump could sign order on social media companies later on Thursday: White House

May 28, 2020 by  
Filed under News

U.S. President Donald Trump could sign an executive order on social media companies later on Thursday, but the timing could change, White House Press Secretary Kayleigh MacEnany said, after Twitter urged readers to check facts in tweets sent by Trump earlier this week for the first time.


Source: Reuters Business News

Occidental is sued by shareholders, bondholders over Anadarko merger

May 27, 2020 by  
Filed under News

Occidental Petroleum Corp has been sued by investors who claim they suffered billions of dollars of losses because the heavily indebted company concealed its inability to weather plunging oil prices, after paying $35.7 billion to acquire Anadarko Petroleum Corp.


Source: Reuters Business News

Oil slides on U.S.-China tensions

May 27, 2020 by  
Filed under News

Oil futures tumbled on Wednesday after U.S. President Donald Trump said he was working on a strong response to China’s proposed security law in Hong Kong and as some traders doubted Russia’s commitment to deep production cuts.


Source: Reuters Business News

American Airlines not considering Chapter 11, demand improving: CEO

May 27, 2020 by  
Filed under News

American Airlines Group Inc’s is not considering a Chapter 11 bankruptcy filing, CEO Doug Parker said in response to a question at a conference on Wednesday, but said he does expect the overall U.S. airline industry to be 10% to 20% smaller in the summer of 2021.


Source: Reuters Business News

U.S. economic activity fell sharply due to coronavirus disruptions, Fed says

May 27, 2020 by  
Filed under News

Economic activity declined sharply across the United States over the past several weeks, according to a Federal Reserve report released on Wednesday, reflecting the disruptions caused by the coronavirus pandemic.


Source: Reuters Business News

23 U.S. states sue Trump administration over fuel efficiency rollback

May 27, 2020 by  
Filed under News

A group of 23 U.S. states led by California, the District of Columbia and four major cities are filing suit Wednesday to challenge a Trump administration decision to weaken Obama administration fuel efficiency standards.


Source: Reuters Business News

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