U.S. senators introduced legislation on Tuesday that would strengthen FAA oversight of aircraft certification following fatal Boeing Co 737 MAX crashes, though a victim's father said the bill, while a positive step, "still lacks teeth."
The dollar held firm against many of its rivals on Wednesday after U.S. retail sales jumped far more than expected in May, while risk-sensitive currencies were hobbled by concerns about the coronavirus and diplomatic tensions in Asia.
Oil prices retreated on Wednesday, weighed down by an increase in U.S. crude inventories and worries about a potential second wave of the coronavirus pandemic.
Asian share markets took a breather on Wednesday as a resurgence of coronavirus cases challenged market confidence in a rapid economic recovery, even as the rebound in U.S. retail sales in May broke all records.
Business sentiment of Asian companies sank to an 11-year low in the second quarter, a Thomson Reuters/INSEAD survey found, with some two-thirds of the firms polled flagging a worsening COVID-19 pandemic as the biggest risk over the next six months.
Oil prices fell on Wednesday as data showed an increase in U.S. crude and fuel inventories, raising the prospect of oversupply as a potential second wave of the coronavirus pandemic threatened to halt any recovery of demand.
Southeast Asian ride-hailing and payments firm Grab announced hundreds of job losses on Tuesday due to the impact of novel coronavirus.
U.S. retail sales likely experienced a record rise in May as 2.5 million Americans went back to work, although any rebound will retrace only a fraction of the historic drops in March and April amid the coronavirus lockdowns.
Oil prices slid on Tuesday on lingering concerns over the threat to fuel demand from the resurgence of new coronavirus infections around the world, though hopes for further cuts in crude supplies stemmed losses.
Southeast Asian ride-hailing and payments firm Grab said on Tuesday it will lay off more than 300 employees due to the impact of novel coronavirus, in the latest setback to major backer SoftBank Group Corp .
Asian shares rallied and the dollar fell on Tuesday as risk appetite was bolstered by the formal start of the Federal Reserve's corporate bond buying programme, and earlier worries about a second wave of coronavirus infections eased.
Oil prices made marginal gains on Tuesday, reversing out of earlier losses, as hopes for further cuts in crude supplies took the sting out of concerns that a resurgence of new coronavirus infections around the world could hamper fuel demand.
Tencent Holdings Ltd aims to become the biggest shareholder in video streaming rival iQIYI Inc , said two people familiar with the matter, to lower costs and counter competition in a sector boosted by stay-at-home virus policies.
The global stocks rally was back on track on Tuesday, with more support from the Federal Reserve and the Bank of Japan helping end a bumpy few days for financial markets.
Apple on Tuesday found itself the target of two EU antitrust investigations into its App Store and Apple Pay as regulators said its terms and conditions and restrictions may violate the bloc's competition rules.