The coronavirus crisis will lead the airline industry into record annual losses of $84 billion as 2020 goes down as the "worst year in the history of aviation", the sector's main global body predicted on Tuesday.
The U.S. is officially in a recession. While unemployment levels are at their highest since the Great Depression, economists think it's unlikely the country will tip into depression territory.
The U.S. Federal Communications Commission voted on Tuesday to adopt auction procedures to provide up to $16 billion to areas that lack broadband service, including nearly six million unserved rural homes and businesses.
Glass maker Corning Inc said on Tuesday it would receive $204 million from the U.S. government to boost the manufacturing capacity of its vials that will be used to store coronavirus vaccines and treatments.
Layoffs in the United States fell in April, but remained the second highest on record, while job openings dropped, suggesting the labor market could take years to recover from the COVID-19 crisis despite a surprise rebound in employment in May.
Boeing Co deliveries worsened even further in May compared to April as the coronavirus pandemic's crushing impact on airlines added to a year of crisis following the grounding of its 737 MAX planes, company data showed on Tuesday.
Goldman Sachs is closing its easy access savings business to new customers in Britain from Wednesday, after deposits surged to near regulatory limits during the coronavirus lockdown.
Volkswagen Chief Executive Herbert Diess apologised to the company's supervisory board for having made "inappropriate and wrong" statements at an internal event, the carmaker said on Tuesday.
Airlines are set to lose $84 billion as the coronavirus pandemic reduces revenue by half to mark the worst year in the sector's history, the International Air Transport Association (IATA) forecast on Tuesday.
Macy's Inc warned on Tuesday its business was not likely to return to normal until late next year, even as it saw better-than-expected sales from stores reopening after COVID-19 lockdowns were lifted across the United States.
The Federal Communications Commission (FCC) on Tuesday voted unanimously to propose a record-setting $225 million fine against Texas-based health insurance telemarketers for allegedly making approximately 1 billion illegally spoofed robocalls.
Barclays has dismissed as "distorted and exaggerated" legal arguments by financier Amanda Staveley, who is claiming up to 1.5 billion pounds in damages for alleged deceit over a financial crisis-era fundraising in a high-profile London trial.
Oil prices were little changed on Tuesday, as traders said concerns about a resurgence in coronavirus cases offset recent commitments from major oil producers to curb production.
It's official: The U.S. economy has come to an end of a historic expansion that lasted for almost 11 years. With the future unclear, financial experts say you can improve your personal financial outlook by taking these steps.
Wall Street's S&P 500 and Dow Jones indexes fell on Tuesday while the tech-heavy Nasdaq hit a record high for the third straight session as investors eyed this week's Federal Reserve meeting for signs on how it views a restarting economy.