Wednesday, 13 May 2020

U.S. March, April job losses revised higher

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U.S. March, April job losses revised higher

The U.S. economy lost a record 20.537 million jobs in April and not 20.5 million as reported last Friday, according to revised data published by the Labor Department this week.

Sanofi to accelerate European COVID-19 vaccine access after CEO prioritizes U.S. preorders

French drugmaker Sanofi SA said on Wednesday that it is working with European regulators to speed up access to a potential coronavirus vaccine in Europe after its chief executive suggested Americans would likely get the vaccine first.

Brazil's Gol values Boeing's 737 MAX compensation at up to $412 million

Brazil airline Gol Linhas Aereas Inteligentes said on Wednesday it will receive up to 2.4 billion reais ($412 million) from Boeing Co as compensation for the grounding of the 737 MAX plane, in a mix of cash and credits.

Less than zero? Fed's Powell shows no love for negative rates

Federal Reserve Chair Jerome Powell had a clear message to interest rate futures traders on Wednesday: Bets the U.S. central bank is headed toward a negative interest-rate policy are off-base.

Trump extends U.S. telecom supply chain order aimed at Huawei, ZTE

President Donald Trump on Wednesday extended for another year an executive order signed in May 2019 declaring a national emergency and barring U.S. companies from using telecommunications equipment made by firms posing a national security risk.

Tesla, California county reach deal to reopen U.S. plant next week

Tesla Inc and officials in California have resolved their acrimonious clash over safety procedures at the automaker's sole U.S. assembly plant with a deal that allows production to resume as early as Monday, county officials said.

Wall Street ends down on Powell's sober outlook, call to Congress for help

Wall Street's three major indexes closed lower for the second day in a row after Federal Reserve Chairman Jerome Powell warned on Wednesday of extended economic weakness due to the coronavirus pandemic and called for Congress to agree on additional fiscal support.

Equities slide, bonds rise on Fed warning of prolonged recession

Stock markets tumbled on Wednesday on fears about a second wave of coronavirus infections and warnings from Federal Reserve Chairman Jerome Powell that the U.S. faces a "significantly worse" recession than any downturn since World War Two, while bonds rose on a safety bid.

Airbus examining restructuring including job cuts -sources

Airbus is exploring restructuring plans involving the possibility of "deep" job cuts as it braces for a prolonged coronavirus crisis after furloughing thousands of workers, industry sources said, though no decision is imminent.

Mexico green lights auto industry restart, heeding U.S. calls

Mexico will begin opening some automotive factories from May 18 under a plan unveiled on Wednesday that loosens coronavirus restrictions and paves the way for U.S. car giants to ramp up output dependent on parts made south of the border.

Climate activists up stakes at Exxon, backing calls for independent board chairman

Shareholder activists prodding Exxon Mobil Corp on climate-change proposals are backing calls for an independent board chairman as the oil major steps up efforts to keep climate proposals off its ballot.

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