Wednesday 20 May 2020

U.S. regulators open door to possible tightening of Huawei chip curb

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U.S. regulators open door to possible tightening of Huawei chip curb

U.S. regulators are open to making changes to close what some see as a loophole in a new rule aimed at curbing global chip sales to blacklisted Chinese telecoms equipment maker Huawei Technologies Ltd, two U.S. officials said on Wednesday.

Fed debates longer-term crisis-fighting plan, minutes show

Federal Reserve policymakers, still working to fully roll out a multi-trillion-dollar effort to shore up financial markets and an economy cratered by the coronavirus pandemic, last month dove into a new debate: how best to support the economy during a recovery they now agree could be slower and more fraught than initially thought.

U.S. arrests two men wanted by Japan over ex-Nissan boss Carlos Ghosn's escape

U.S. authorities on Wednesday arrested a former U.S. Army Special Forces soldier and another man in Massachusetts wanted by Japan on charges that they enabled the escape of former Nissan Motor Co boss Carlos Ghosn out of the country.

Expedia posts bigger quarterly loss as pandemic impact takes toll

Online agent Expedia Inc posted a bigger quarterly loss on Wednesday, as the COVID-19 pandemic decimated travel demand and kept people under government-mandated lockdowns.

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.

Germany agrees on rescue package for Lufthansa: media

The German government has agreed on final details of a rescue package for airline carrier Lufthansa , media reported on Wednesday.

Ford shuts two U.S. assembly plants due to COVID-19 infections

Ford Motor Co on Wednesday closed two U.S. assembly plants as the coronavirus pandemic wreaked early havoc with the No. 2 U.S. automaker's plan to restart North American production and begin making its most profitable vehicles again.

Wall Street climbs on stimulus hopes, as S&P, Nasdaq hit multi-month highs

The three major averages on Wall St. notched their fourth gain in five sessions 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.

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

Oil prices rallied on Wednesday after U.S. crude inventories fell in the most recent week, but gains were capped by worries over the economic fallout from the coronavirus pandemic and weak refining margins.

Four Democratic U.S. senators warn against Uber buying Grubhub

Four Democratic lawmakers, led by Senator Amy Klobuchar, wrote to antitrust enforcers on Wednesday to warn that plans by Uber Technologies Inc, owner of Uber Eats, to buy rival online food delivery company Grubhub Inc would "raise serious competition issues" in many cities.

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.

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