S&P 500, Dow muted as rising COVID-19 cases dent recovery hopes
The S&P 500 and the Dow edged higher in choppy trading on Wednesday as hopes of a swift recovery from a coronavirus-driven downturn were dented...
PepsiCo to drop Aunt Jemima name, criticized for racist history; Uncle Ben’s under review
PepsiCo Inc will change the name and brand image of its Aunt Jemima pancake mix and syrup, it said on Wednesday, dropping a mascot that...
U.S. Justice Department proposes rolling back protections for big tech
The U.S. Justice Department proposed on Wednesday that Congress take up legislation to curb protections that big tech platforms like Alphabet’s Google and Facebook have...
LATAM Airlines to suspend operations in Argentina indefinitely
LATAM Airlines Group on Wednesday said it will cease operations at its Argentine subsidiary “indefinitely,” its first major cutback since Latin America’s largest airline filed...
U.S. homebuilding rises moderately; jump in permits hints at green shoots
U.S. homebuilding increased less than expected in May, but a strong rebound in permits for future home construction suggested the housing market was starting to...
Stocks seesaw as rising coronavirus cases offset recovery hopes
Equity markets around the world seesawed on Wednesday as the prior day’s rally on economic and vaccine hopes faded, while fresh coronavirus outbreaks and rising...
FAA chief acknowledges agency, Boeing made mistakes on 737 MAX
Federal Aviation Administration chief Steve Dickson acknowledged on Wednesday that Boeing and the U.S. air safety agency both made mistakes in the development of the...
Powell repeats Fed to use full range of tools to aid economy
With a full U.S. economic recovery out of reach until the coronavirus pandemic is brought to heel, the Federal Reserve will use its “full range...
U.S. shale companies to boost oil output by 500,000 bpd by month-end
U.S. shale producers are expected to restore roughly half a million barrels per day (bpd) of crude output by the end of June, according to...
U.S. SEC has problems with car rental firm Hertz selling new shares: CNBC
The U.S. Securities and Exchange Commission (SEC) has told bankrupt Hertz Global Holdings Inc it has issues with the car rental firm’s plan to sell...