Tuesday, 1 December 2020

U.S. Senators say pandemic relief plan would give airlines $17 billion over four months

U.S. Senators say pandemic relief plan would give airlines $17 billion over four months

U.S. airlines would receive $17 billion for four months of payroll support under a new $908 billion bipartisan Senate COVID-19 relief proposal, staffers for two U.S. Senators said on Tuesday.

VW seeks to avert crisis after CEO demands confidence vote

Volkswagen's top committee on Tuesday avoided discussing a potential contract extension for Chief Executive Herbert Diess in a bid to defuse a looming leadership crisis at the world's largest carmaker, a person familiar with the deliberations told Reuters.

U.S. CFTC issues record number of enforcement actions, as fines remain largely flat

The U.S. derivatives regulator issued a record 113 enforcement actions for corporate wrongdoing in 2020 - the most in the agency's history - the agency said on Tuesday, even as total monetary fines remained almost flat.

Salesforce to buy workplace app Slack for about $26 billion

Salesforce.com Inc agreed to buy workplace messaging app Slack Technologies Inc for about $26 billion in its biggest deal, as the cloud-computing pioneer bolsters its remote-work offerings and takes on larger rival Microsoft Corp.

Box Inc beats quarterly sales estimates

Box Inc beat quarterly sales expectations on Tuesday as remote work and learning during the COVID-19 pandemic drove demand for its file-sharing services.

House seen backing bill that could block Chinese firms from U.S. securities markets

The U.S. House of Representatives is expected to pass legislation this week that could prevent some Chinese companies from listing their shares on U.S. exchanges unless they adhere to U.S. auditing standards, congressional aides said on Tuesday.

Disney consolidates TV studios as part of focus on streaming

Walt Disney Co said on Tuesday it had consolidated its television studios into two units as the company restructures operations to emphasize streaming media.

Global equity markets jump, bonds dip, on hopes of vaccine-led recovery

Stock markets rose and safe havens such as U.S. Treasury bonds dipped Tuesday as strong factory data and signs that coronavirus vaccinations could be administered by the end of the year helped prolong a worldwide rally in risk assets even as the pandemic accelerated.

S&P 500, Nasdaq end at record highs on vaccine optimism

The S&P 500 and Nasdaq Composite indexes closed at record highs on Tuesday, with investors betting a COVID-19 vaccine will be available soon, and more confident about a speedy economic recovery following upbeat Chinese factory data.

Dollar plummets on U.S. stimulus hopes; bitcoin hits all-time peak

The dollar fell on Tuesday to its lowest level in more than 2-1/2 years, as investors' appetite for risk increased on prospects of further fiscal stimulus from the United States as well as expectations of a solid global recovery.

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Mnuchin, Powell push for more small business aid

America's top U.S. economic officials urged Congress on Tuesday to provide more help for small businesses amid fears that a vaccine may not arrive in time to prevent a surging coronavirus pandemic from inflicting more damage to the economy. Conway G. Gittens reports.

Yellen: U.S. facing an 'American tragedy'

U.S. President-elect Joe Biden's Treasury secretary nominee Janet Yellen said on Tuesday the country is facing a historic crisis from the pandemic and the subsequent economic fallout.
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