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