Oil prices fell on Wednesday as an industry report showed a rise in crude and fuel inventories in the United States, renewing concerns about oversupply and slumping fuel demand in the world's largest crude consumer.
The U.S. dollar is unlikely to make significant moves higher in the near term because of the ballooning budget deficit, Jeffrey Gundlach, the billionaire chief executive of DoubleLine Capital, said on a webcast presentation on Tuesday.
Shares of Cathay Pacific Airways Ltd were set to open sharply up 18.7% on Wednesday after it announced a HK$39 billion ($5 billion) recapitalisation plan led by the Hong Kong government to help it weather the coronavirus pandemic.
Fujifilm Holdings Corp will spend $928 million to double capacity at a drug manufacturing facility in Denmark, which it has pledged to use in producing COVID-19 treatments, as the Japanese company steps up its pivot towards healthcare.
China's producer prices fell by the sharpest rate in more than four years, underscoring pressure on the manufacturing sector as the COVID-19 pandemic reduces trade flows and global demand.
Asian stock markets eked out a 10th consecutive session of gains on Wednesday, but momentum ebbed as doubts about the global recovery from the pandemic returned ahead of the U.S. Federal Reserve meeting.
The dollar nursed losses against most currencies on Wednesday amid some speculation the U.S. Federal Reserve could take steps to curb a recent rise in bond yields at its policy meeting.
Oil prices fell on Wednesday after data showed a rise in crude and fuel stockpiles in the United States, reviving concerns about oversupply and falling fuel demand in the world's largest crude consumer amid the coronavirus outbreak.
Shares of Cathay Pacific Airways Ltd surged as much as 18.7% on Wednesday, reaching their highest level since Feb. 24, after the carrier announced a HK$39 billion ($5 billion) recapitalisation plan led by the Hong Kong government.
They were shocked. They didn't expect to lose money. They're glad they started investing and here's what they learned.
The Financial Brand | Jim Marous | Jun 8, 2020 The COVID-19 crisis, combined with the recent incidents involving racial injustice, result in a dual pandemic for minority neighborhoods across the country. Financial institutions must increase their resolve to support racial and gender equality, diversity and inclusion within their organizations and in their communities. While
Nestle SA is selling the North American business of its Buitoni pasta brand to private-equity firm Brynwood Partners, the Swiss food group said on Monday.
U.S. stocks rose on Monday with the Nasdaq hitting a new intraday high after a surprisingly upbeat jobs report last week raised expectations of a swift recovery from a coronavirus-driven downturn.
JetBlue Airways Corp expects to fly about half of its original schedule in July, up from about 25% to 30% in June, and a bit more in August as leisure demand begins to recover, Chief Executive Robin Hayes told CNBC in an interview on Monday.
The U.S. economy ended its longest expansion in history in February and entered recession as a result of the coronavirus pandemic, the private economics research group that acts as the arbiter for determining U.S. business cycles said on Monday.