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.
U.S. consumer prices fell for a third straight month in May and underlying inflation was weak as demand for goods and services remained subdued amid a recession caused by the COVID-19 pandemic.
Twenty-six drug manufacturers were sued on Wednesday by the attorneys general of most U.S. states and several territories, which accused them of conspiring to reduce competition and drive up generic drug prices.
The S&P 500 was down slightly in choppy trading on Wednesday after the Federal Reserve repeated its promise of support for the economy but projected a 6.5% decline in gross domestic product this year.
Ford Motor Co said on Wednesday it will recall 2.15 million U.S. vehicles with potentially faulty door latches.
Nikola Corp , a maker of hydrogen-fueled vehicles, is in the process of picking a partner to produce its Badger pickup truck, while also aiming to start deliveries of its electric commercial big rigs next year, founder Trevor Milton said on Wednesday.
The Dow and S&P 500 ended a choppy session lower on Wednesday after the Federal Reserve reassured investors of its support for the economy but projected a 6.5% decline in gross domestic product this year.
Lufthansa admitted on Wednesday that the positions of up to 26,000 employees are surplus to requirements, suggesting many more jobs will be cut at the German carrier than a figure of more than 10,000 flagged a few weeks ago.
Fiat Chrysler and Peugeot maker PSA face a lengthy EU antitrust investigation after declining to offer concessions to allay EU antitrust concerns about their planned $50 billion merger, people familiar with the matter said on Wednesday.
Amazon.com Inc said on Wednesday it was implementing a one-year moratorium on the use of its facial recognition software by the police following backlash over the use of racially biased surveillance technology amid ongoing protests in the United States.
Aircraft parts maker Spirit AeroSystems Holdings Inc announced on Wednesday a 21-day layoff for staff doing production and support work for Boeing Co's 737 program.
It is not too late for small and medium-sized U.S. businesses to benefit from the Federal Reserve's "Main Street" lending program, Chair Jerome Powell said on Wednesday, even though its launch in the coming days will be nearly three months after the central bank announced the nearly $600 billion program.
The U.S. dollar would probably come under further pressure if the Federal Reserve adopts targets for U.S. Treasury yields that would limit their rise and ensure that interest rates remain near zero for some time.
The dollar slid to a three-month low and a gauge of global stocks fell on Wednesday after the Federal Reserve projected a more sluggish recovery than the market expected, but the Nasdaq hit a fresh high on expectations of low interest rates past 2022.
Tyson Foods Inc said on Wednesday it was cooperating with the U.S. Department of Justice on a price-fixing investigation in the poultry industry, under a program that could protect the meat processor from criminal prosecution.