Johnson & Johnson moved up the start of human clinical trials for its experimental vaccine against the highly contagious coronavirus by two months to the second half of July, as the drugmaker rushes to develop a prevention for COVID-19, the company said on Wednesday.
A group of attorneys general from U.S. states and territories sued 26 manufacturers of dermatology drugs on Wednesday, accusing them of price fixing and other violations of antitrust law, the third such lawsuit since 2016.
When Congress enacted legislation to stem the financial distress caused by Covid-19, some dependents were shut out of receiving stimulus checks. Now, young adults are working to raise awareness and reverse that policy.
The U.S. Federal Reserve on Wednesday signaled years of extraordinary support for an economy facing a torturous slog back from the coronavirus pandemic, with policymakers projecting a 6.5% decline in gross domestic product this year and a 9.3% unemployment rate at year's end.
The U.S. Federal Reserve on Wednesday signaled years of extraordinary support for an economy facing a torturous slog back from the coronavirus pandemic, with policymakers projecting a 6.5% decline in gross domestic product this year and a 9.3% unemployment rate at year's end.
The S&P 500 turned positive on Wednesday after the Federal Reserve repeated its promise of support for the economy.
The U.S. federal budget deficit in May nearly doubled to $399 billion from a year earlier amid continued strong spending on coronavirus relief programs and a 25% drop in receipts, the Treasury Department said on Wednesday.
For consumers with good credit, historically low interest rates on mortgages and credit cards are an asset. But riskier borrowers are shut out of the relief.
Oil recovered its earlier losses on Wednesday, even as U.S. data showed crude inventories rose to a record high, reviving worries of a persistent glut due to weak demand.
U.S. Treasury Secretary Steven Mnuchin said on Wednesday that the U.S. economy has already begun to rebound from the coronavirus pandemic and would "improve dramatically" in the third and fourth quarters.
ConocoPhillips Chief Executive Officer Ryan Lance on Wednesday expressed surprise at the quick rebound in U.S. oil prices that slipped into the negative territory in April and said he expects prices to remain volatile in the near term.
The U.S. Federal Reserve on Wednesday signaled it would provide years of extraordinary support for an economy facing a torturous slog back from the coronavirus pandemic, with policymakers projecting a 6.5% decline in gross domestic product this year and a 9.3% unemployment rate at year's end.
U.S. Treasury Secretary Steven Mnuchin said on Wednesday he would seriously consider more direct payments to individuals in the next phase of coronavirus rescue legislation, adding that funds should also be targeted to help sectors struggling to reopen, including hospitality and tourism.
Fiat Chrysler and Peugeot maker PSA face a lengthy EU antitrust investigation after they declined to offer concessions in a bid to allay EU antitrust concerns about their planned $50 billion merger, people familiar with the matter said on Wednesday.
The dollar extended losses, dropping to a fresh three-month low against a basket of major currencies on Wednesday after the Federal Reserve made no policy changes, as expected, and pledged to continue its asset purchases aimed at stabilizing a U.S. economy that has been ravaged by the novel coronavirus.