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Updated: 52 min 9 sec ago

FAA 'stonewalling' Boeing 737 MAX probe after fatal crashes: senator

Wed, 06/17/2020 - 10:53am
The U.S. Federal Aviation Administration has been "stonewalling" senators conducting an investigation into the design and development of Boeing Co's 737 MAX in the wake of deadly crashes, a top Republican senator told a hearing on Wednesday.

Citing 'racial stereotype,' PepsiCo to drop Aunt Jemima name; Uncle Ben's under review

Wed, 06/17/2020 - 10:44am
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 has been criticized for a racist history.

S&P 500, Dow struggle for direction after three-day rally

Wed, 06/17/2020 - 10:38am
The S&P 500 and the Dow edged lower in choppy trading on Wednesday as a record rise in coronavirus cases in six U.S. states dented sentiment following a three-day rally on hopes of a swift recovery from a coronavirus-driven downturn.

EU worried Fiat-PSA deal may hit competition in vans

Wed, 06/17/2020 - 10:36am
Fiat Chrysler and Peugeot maker PSA's proposed merger may harm competition in small vans in 14 EU countries and Britain, EU antitrust regulators said on Wednesday as they opened a four-month investigation into the deal.

FCA moves closer to state guarantee for $7.1 billion loan: source

Wed, 06/17/2020 - 10:26am
Italy's Treasury has taken a further step towards approving a state guarantee for a 6.3 billion euro ($7.1 billion) loan for Fiat Chrysler's Italian unit, a government source told Reuters on Wednesday.

U.S. housing starts miss expectations; permits rebound strongly

Wed, 06/17/2020 - 10:24am
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 emerge from the COVID-19 crisis along with the broader economy.

Qualcomm aims to woo robotics developers with new chips, tools

Wed, 06/17/2020 - 10:23am
Building robots and drones is messy: Developers must pull together sensors to be the eyes and ears, chips for the brains and motors to make the device move, tying them all together with several kinds of software.

Exclusive: Who's in charge at Nissan? COO's allies push to give him shared CEO role – sources

Wed, 06/17/2020 - 10:11am
Nissan's chief operating officer Ashwani Gupta helped engineer the troubled automaker's latest turnaround plan. Now his allies are pressing the board to promote him to co-CEO to drive the new strategy, said four people with direct knowledge.

Oil falls on fears of more COVID-19 cases

Wed, 06/17/2020 - 9:54am
Oil prices fell on Wednesday on fears about fresh outbreaks of COVID-19 but prices drew some support from stimulus measures and positive tests of a drug that could save some critically ill patients.

Mars Inc says evaluating changing Uncle Ben's brand image

Wed, 06/17/2020 - 9:47am
Mars Inc is "evaluating all possibilities" regarding changes to its Uncle Ben's rice brand image, the food company told Reuters on Wednesday, following news that PepsiCo Inc was dropping its Aunt Jemima brand.

Wall Street opens higher on hopes of swift economic recovery

Wed, 06/17/2020 - 9:38am
Wall Street's main indexes opened higher on Wednesday, rising for a fourth straight session, as signs of more stimulus bolstered hopes of a quick economic rebound, even as six U.S. states saw a record rise in new coronavirus cases.

Trump administration vows to push for 'broad reset' at WTO

Wed, 06/17/2020 - 9:23am
The Trump administration will push for a broad reset of "outdated tariff determinations" at the World Trade Organization to right what it sees as years of unfair treatment of the United States, a top trade official will tell lawmakers on Wednesday.

Google releases new ad features to help small businesses

Wed, 06/17/2020 - 9:09am
Alphabet Inc's Google on Wednesday introduced new advertising features intended to help local businesses get more customers and recover from the coronavirus pandemic.

Acknowledging 'racial stereotype,' PepsiCo to drop Aunt Jemima name, brand

Wed, 06/17/2020 - 9:03am
PepsiCo Inc will change the name and brand image of its Aunt Jemima pancake mix and syrup, it said on Wednesday, dropping a mascot criticized for a racist history.

UK's Supreme Court rules against Mastercard, Visa in retailers' fees battle

Wed, 06/17/2020 - 8:31am
Britain's highest court on Wednesday upheld an earlier Court of Appeal ruling that credit card companies Visa and Mastercard restricted competition in the way they set fees for retailers, opening the way for them to seek compensation.

Trade war? U.S. battle over kitchen cabinets really a domestic dispute

Wed, 06/17/2020 - 8:27am
The anti-China trade mood has reached U.S. kitchens, where a battle is being waged over competing visions of where and how cabinets should be made.

Stocks grind higher as recovery hopes stand firm

Wed, 06/17/2020 - 8:19am
Europe's shares added to their best gains in almost a month as safety plays lost their lustre on Wednesday, with hopes of a rapid economic recovery holding firm against a resurgence of global coronavirus cases.

Wall Street set to extend three-day rally on recovery hopes

Wed, 06/17/2020 - 8:17am
Wall Street's main indexes were set to open higher on Wednesday, building on their three-day rally as signs of more official stimulus supported hopes of an economic recovery, even as six U.S. states saw a record rise in new coronavirus cases.

PepsiCo's Aunt Jemima brand to change name, logo: NBC News

Wed, 06/17/2020 - 8:15am
PepsiCo Inc's Aunt Jemima pancake mix will change its name and image in an effort by the brand to distance itself from racial stereotypes, NBC News reported on Wednesday.

Dollar regains ground as investors take refuge from murky outlook

Wed, 06/17/2020 - 7:51am
The U.S. dollar rose from early lows on Wednesday as investors wary of wider geopolitical risks sought its relative safe haven.

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