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U.S senators introduce bill to reform aircraft certification after 737 MAX crashes

June 16, 2020 by  
Filed under News

A bipartisan group of U.S. senators introduced a bill on Tuesday to reform aircraft certification following two fatal Boeing Co 737 MAX crashes, lawmakers said in a statement.


Source: Reuters Business News

Green shoots welcome but recovery still a long road, Fed's Powell says

June 16, 2020 by  
Filed under News

A full U.S. economic recovery will not occur until the American people are sure that the novel coronavirus epidemic has been brought under control, Federal Reserve Chair Jerome Powell said on Tuesday, as he began the first of two days of hearings before U.S. lawmakers.


Source: Reuters Business News

Ex-Tommy Hilfiger boss Grieder to become new Hugo Boss CEO

June 16, 2020 by  
Filed under News

German fashion house Hugo Boss has appointed former Tommy Hilfiger boss Daniel Grieder as its next chief executive, it said on Tuesday.


Source: Reuters Business News

Appeals court sides with exchanges in U.S. SEC fee row

June 16, 2020 by  
Filed under News

A U.S. appeals court ruled on Tuesday that the Securities and Exchange Commission cannot force stock exchanges to conduct a costly experiment to see how the fees they charge and the incentives they offer affect brokers’ trading habits.


Source: Reuters Business News

U.S. bank profits plunge 70% on coronavirus loss provisioning

June 16, 2020 by  
Filed under News

U.S. bank profits fell by 69.6% to $18.5 billion in the first quarter of 2020 from the year prior as banks felt the economic impact of the novel coronavirus pandemic, according to data from a banking regulator.


Source: Reuters Business News

Tesla negotiating incentives for possible Texas vehicle assembly plant: report

June 15, 2020 by  
Filed under News

Electric carmaker Tesla Inc is negotiating possible incentives with a Texas county that could bring a new auto assembly plant to the area near Austin, the state capital, the Austin American-Statesman reported on Monday.


Source: Reuters Business News

United Airlines pledges loyalty program for $5 billion loan

June 15, 2020 by  
Filed under News

United Airlines said on Monday it is pledging its MileagePlus frequent flyer program for a new $5 billion loan aimed at further buffering its liquidity, even as its cash burn rate slows thanks to a steady improvement in demand.


Source: Reuters Business News

Wall Street jumps on Fed's corporate bond purchase announcement

June 15, 2020 by  
Filed under News

Wall Street jumped on Monday following an announcement by the U.S. Federal Reserve regarding its corporate bond purchasing program that boosted investor confidence, which had been wavering amid a spike in new COVID-19 cases.


Source: Reuters Business News

Six former eBay employees charged with cyberstalking Massachusetts couple

June 15, 2020 by  
Filed under News

Six former eBay Inc employees have been criminally charged with cyberstalking a Massachusetts couple who published an online newsletter viewed as critical of the e-commerce company, federal prosecutors in Boston said on Monday.


Source: Reuters Business News

Amazon says CEO Bezos willing to testify before U.S. Congress

June 15, 2020 by  
Filed under News

Amazon.com Inc said on Monday its founder and Chief Executive Jeff Bezos was willing to testify to a congressional panel investigating potential violations of U.S. antitrust law by big technology companies.


Source: Reuters Business News

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