Wednesday 20 May 2020

Daily Investor Update: U.S. travelers pick car rentals over flights for holidays: travel website Kayak

Reuters.com Newsletter

U.S. travelers pick car rentals over flights for holidays: travel website Kayak

Travel website Kayak is seeing more demand for car rentals than air travel from customers looking to avoid crowds and stay closer to home as U.S. states reopen, Chief Executive Officer Steve Hafner told Reuters on Wednesday.

Senate passes bill that could block Chinese firms from U.S. securities exchanges

The U.S. Senate passed legislation on Wednesday that could prevent some Chinese companies from listing their shares on U.S. exchanges unless they follow standards for U.S. audits and regulations.

Oil gains, stocks rally on renewed recovery hopes

Crude prices rose and a gauge of global equities broke out of a three-week trading range on Wednesday as investors bet on a rapid recovery from the coronavirus-induced recession.

At Fiat Chrysler's Brazil plant, production resumes with safety checks

Before going to work these days, employees at the Brazilian unit of Fiat Chrysler Automobiles have to get a health check using a mobile app every morning.

Oil rises on lower U.S. stocks, firmer demand

Oil prices climbed over 3% on Wednesday on signs of improving demand and a drawdown in U.S. crude inventories, but gains were capped by worries over the economic fallout from the coronavirus pandemic and weak refining margins.

Stocks rally on reopening, stimulus hopes

The three major averages on Wall St were poised for their fourth gain in five session on Wednesday as investors again bet on a swift economic recovery from coronavirus-driven lockdowns and the potential for more stimulus measures from the Federal Reserve.

U.S. airlines step up safety measures in preparation for recovery

U.S. carriers JetBlue Airways Corp and United Airlines Holdings Inc announced fresh safety measures on Wednesday aimed at restoring confidence in travel as several executives pointed to signs domestic demand is improving.

Fed mulls firmer rate guidance, adding dates or goals, minutes show

Federal Reserve policymakers last month opened a broad debate over what they can and should to do to boost the effectiveness of their monetary policy tools amid the coronavirus pandemic and beyond, a detailed summary of their most recent policy-setting meeting showed Wednesday.

Volkswagen admits car ad racist, apologizes

Volkswagen withdrew on Wednesday an advert posted on its official Instagram page for its Golf cars that it admitted was racist and insulting, saying it would investigate how it came about and draw consequences.

Air France axes A380, Emirates seen cutting deliveries

The world's largest airliner, the Airbus A380, took a step closer to the aviation archives on Wednesday as Air France said it would permanently axe its grounded fleet and sources said Emirates was in talks to reduce remaining deliveries.

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