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Updated: 45 min 9 sec ago

Special delivery: activists urge France to rein in Amazon

Wed, 06/17/2020 - 7:49am
Environmental campaigners delivered a 12-foot (3.6-metre) tall mock-up of an Amazon parcel to the French finance ministry on Wednesday to demand that the government rein in the e-commerce giant's expansion in France.

Lufthansa warns of threat to its $10 billion bailout deal

Wed, 06/17/2020 - 7:46am
German airline Lufthansa warned on Wednesday that it might need to apply for protection from creditors if its state-backed bailout deal failed to win sufficient support at a shareholder vote on June 25.

New U.S. Huawei rule targets standards, security concerns remain: Ross

Wed, 06/17/2020 - 7:44am
A new U.S. rule regarding China's Huawei Technologies Co Ltd is a needed "clarification" to help develop standards, U.S. Commerce Secretary Wilbur Ross said on Wednesday, adding that security concerns remain over the telecoms equipment maker.

German Fin Min Scholz sees no danger of Lufthansa rescue deal collapse

Wed, 06/17/2020 - 7:44am
German Finance Minister Olaf Scholz said on Wednesday a bailout deal for airline Lufthansa was a good, balanced solution which he hoped shareholders would approve, adding he did not think the agreement was in danger of collapse.

Southwest Airlines says has enough cash for two years as demand improves

Wed, 06/17/2020 - 7:26am
Southwest Airlines said on Wednesday it has enough cash to carry on business for the next two years, up from its prior forecast of 20 months, as travel demand gradually picks up.

Wall Street rally wins more fans as economy hints at recovery

Wed, 06/17/2020 - 7:21am
Record upside surprises in U.S. economic data are bolstering the case for a “V” shaped recovery from the COVID-19 recession and boosting investor confidence in a stock rally that has already delivered hefty gains in recent months.

Coronavirus turmoil fuels the rise of AI-powered companies

Wed, 06/17/2020 - 7:11am
For the past seven years, a Munich-based firm called riskmethods has tried to interest companies in buying software that allows them to track all their suppliers in a way that minimizes risks in operating globally spread supply chains.

U.S. FAA chief to testify at hearing on jet certification after 737 MAX crashes

Wed, 06/17/2020 - 7:04am
The head of the Federal Aviation Administration is set to testify on Wednesday before a Senate committee on the safety certification of jetliners like Boeing Co's 737 MAX, still grounded after fatal crashes.

Futures inch higher on hopes of quick economic revival

Wed, 06/17/2020 - 6:50am
U.S. stock index futures rose on Wednesday as signs of more official stimulus supported hopes of an economic recovery from a coronavirus-led slump, even as six U.S. states saw a record rise in new COVID-19 cases.

Lufthansa warns its $10 billion bailout deal is in jeopardy

Wed, 06/17/2020 - 6:31am
German airline Lufthansa warned on Wednesday that it might need to apply for protection from creditors if its state-backed bailout deal failed to win sufficient support at a shareholder vote on June 25.

Main Street's boldest take on Wall Street in bankruptcy stock frenzy

Wed, 06/17/2020 - 6:29am
When Bryan Quevedo received his U.S. government stimulus check last month, he invested $1,000 in the stock of bankrupt car rental company Hertz Global Holdings Inc .

May flowers: Where the U.S. retail blooms are and are not

Wed, 06/17/2020 - 6:26am
No denying May's $73 billion rebound in U.S. retail sales was an eye-popper and is the latest fodder to fuel the red-hot "V" vs "U" debate about what kind of recovery to expect from the COVID-19 recession.

Oil falls on fears of rising COVID-19 cases

Wed, 06/17/2020 - 6:19am
Oil fell on Wednesday on fears that COVID-19 cases could rise, but prices drew some support from stimulus measures and hopes for positive tests of a drug that could save some critically ill patients.

Lufthansa warns its bailout deal is in jeopardy

Wed, 06/17/2020 - 5:50am
German airline Lufthansa warned on Tuesday that it might need to apply for creditor protection if its state-backed bailout failed to win sufficient shareholder support in a vote later this month.

Employee union Unite says to oppose compulsory job losses at HSBC

Wed, 06/17/2020 - 5:49am
Employee union Unite said it will oppose any compulsory job losses within HSBC and "work vigorously to ensure staff are heard and their jobs protected", after the bank dusted off plans to axe as many as 35,000 roles worldwide.

Saudi Aramco completes $69 billion SABIC stake deal, extends schedule

Wed, 06/17/2020 - 5:46am
Saudi Aramco has completed its purchase of a 70% stake in petrochemicals company Saudi Basic Industries for $69.1 billion and extended the payment period by three years to 2028, providing a cushion against weak oil prices.

Stocks grind higher on recovery hopes

Wed, 06/17/2020 - 5:00am
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 standing firm against a resurgence of global coronavirus cases.

Oil rise on positive news of COVID-19 drug study

Wed, 06/17/2020 - 4:56am
Oil rose on Wednesday on hopes for economic recovery and for a clinical trial showing a cheap steroid could help save some critically ill coronavirus patients but fears of a second wave of the virus curbed gains.

HSBC revives 35,000 job cut plan after pandemic pause

Wed, 06/17/2020 - 4:34am
HSBC is resuming plans to cut around 35,000 jobs which it put on ice after the coronavirus outbreak, as Europe's biggest bank grapples with the impact on its already falling profits.

Dollar treads water on Fed views, geopolitics

Wed, 06/17/2020 - 3:40am
The dollar was little changed on Wednesday after U.S. retail sales rose more than expected in May, although caution kept investors from aggressively buying riskier currencies like the Australian dollar.