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DETROIT (Reuters) – A federal judge on Wednesday threw out a racketeering lawsuit General Motors Co had filed against smaller rival Fiat Chrysler Automobiles NV, saying the No. 1 U.S. automaker’s alleged injuries were not caused by FCA’s alleged violations. GM officials said in statement they “strongly disagree” with the order by U.S. District Court Judge Paul Borman, whom the […]
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NEW YORK — Brooks Brothers, the 200-year-old company that dressed nearly every U.S. president, filed for bankruptcy protection Wednesday, the latest major clothing seller to be toppled by the coronavirus pandemic. Founded in New York in 1818, Brooks Brothers survived two world wars, the Great Depression and even managed to stay afloat as dress standards eased in the office. But […]
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NEW YORK (Reuters) – The dollar fell on Wednesday, tempering its safe-haven appeal for now, as U.S. stocks rallied, although sentiment remained cautious amid a resurgence of new coronavirus cases globally, particularly in the United States. Demand for the U.S. currency proved remarkably stable as oil prices steadied while European bourses traded in negative territory. “The buck tends to struggle […]
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BRUSSELS (Reuters) – The European Commission has reached agreements with pharmaceutical companies Roche (ROG.S) and Merck KGaA (MRCG.DE) to supply experimental drugs that can be used to treat COVID-19 patients, a commission source told Reuters on Wednesday. The EU executive agreed to the deal to source Roche’s RoActemra and Merck’s Rebif for supply to any 27 EU members states willing […]
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LONDON/SYDNEY (Reuters) – Global stocks faltered on Wednesday, losing momentum after a five-day rally, as an increase in new coronavirus cases in some parts of the world undermined prospects for a quick economic recovery. Oil prices fell on oversupply fears. Frankfurt, Paris and London all opened lower in early trading as investors shifted to wait-and- see mode before upcoming earnings […]
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NEW YORK (Reuters) – Asian stocks were set for a mixed open on Wednesday, as an increase in new coronavirus cases in some parts of the world cast doubts over the economic recovery, leading some investors to cash in on recent gains ahead of earnings season. Australian S&P/ASX 200 futures lost 0.50% in early trading, while Japan’s Nikkei 225 futures […]
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NEW YORK (Reuters) – The U.S. dollar rose against a basket of currencies on Tuesday, holding above the near two-week low hit in the previous session, as investors turned uneasy over new coronavirus flare-ups and local lockdowns in some countries. The U.S. Dollar Currency Index =USD, which measures the greenback’s strength against six major currencies, was 0.15% higher at 96.889. […]
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NEW YORK (Reuters) – Investor caution over renewed coronavirus lockdowns snuffed out a five-day rally in most world equity markets on Tuesday and weighed on oil prices, though it was not enough to halt a hot streak in Chinese stocks. The dollar edged higher as risk currencies such as the Australian dollar took a breather from recent gains and gold […]
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(Reuters) – Wall Street’s major indexes slipped on Tuesday following the benchmark S&P 500’s longest streak of gains this year as investors worried about the tens of thousands of new coronavirus cases nationwide. Florida’s greater Miami area became the latest U.S. coronavirus hot spot to roll back its reopening, while Texas registered an all-time high in the number of people […]
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(Reuters) – Direct cash payments can improve financial security, boost consumer spending and may speed up the recovery, according to a letter from a group of economists calling on U.S. policymakers to keep providing direct cash payments to Americans until the economy is stronger. The stimulus payments should be issued automatically, based on certain economic indicators such as the unemployment […]
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