Federal Reserve Chair Jerome Powell on Tuesday begins the first of two days of testimony before U.S. lawmakers in which he will map out how the United States faces an uncertain, uneven and prolonged economic recovery from the novel coronavirus crisis that will likely require continued monetary and fiscal support.
The New York Federal Reserve's planned launch on Tuesday of a bond-buying facility could help ease the potential stigma for companies of asking for help and create an important framework for what the central bank steps in to purchase, analysts and investors said.
Kabbage is an Atlanta-based company that provides automated small business loans through a suite of financial products, which aid various cash-flow issues.
Oil prices rose on Tuesday, with Brent crude rising above $40 a barrel, as the IEA increased its oil demand forecast for 2020 and as record supply cuts supported.
Apple on Tuesday found itself the target of two EU antitrust investigations into its App Store and Apple Pay as the bloc turned up the heat on online gatekeepers over alleged anti-competitive business practices aimed at blocking rivals.
French carmaker Renault plans to cut 1,500 engineering jobs in France, a trade union source told Reuters on Tuesday.
When the U.S. government announced a multibillion-dollar bailout of struggling small businesses amid the coronavirus pandemic, one of the top U.S. law firms sensed an opportunity.
U.S. health insurers may balk at covering tests that look for coronavirus antibodies in some cases, arguing that employers or the government should foot a bill expected to run into billions of dollars.
U.S. stock index futures jumped on Tuesday on hopes that aggressive fiscal and monetary stimulus would kick start an economy crushed by the COVID-19 pandemic, with investors also expecting a record rebound in May retail sales.
Airlines are urging aviation regulators to extend a waiver on airport slot rules as they struggle to overcome the coronavirus crisis, their main international body said on Tuesday.
The share of people getting unemployment benefits last month exceeded the share of jobless workers. On its face, that seems impossible.
U.S. stock futures rose sharply on Tuesday after data showed a record jump in retail sales in May, far above expectations, as Americans resumed spending after weeks of lockdown, underscoring views that the worst of the coronavirus impact was over.
Amazon.com Inc on Tuesday launched an artificial intelligence-based tracking system to enforce social distancing at its offices and warehouses to help reduce any risk of contracting the new coronavirus among its workers.
EU trade chief Phil Hogan will limit public appearances after he put himself forward as a possible candidate to become the next head of the World Trade Organization, the European Commission said on Tuesday.
To bridge the growing gap between income and tuition expenses, student loan balances will also likely rise as more families must borrow money to cover college costs.