Tuesday 19 January 2021

Netflix says borrowing to end as global membership tops 200 million

Netflix says borrowing to end as global membership tops 200 million

Netflix Inc said on Tuesday its global subscriber rolls crossed 200 million at the end of 2020 and projected it will no longer need to borrow funds to keep financing its broad slate of streaming TV shows and movies, sending shares up 12% after hours.

Equities, oil rally in anticipation of more U.S. stimulus spending

Global equity benchmarks jumped and safe-haven currencies such as the U.S. dollar dipped on Tuesday as Janet Yellen used a confirmation hearing on her appointment as Treasury secretary to bolster the case for additional fiscal stimulus.

U.S. agency orders Ford to recall 3 million vehicles over air bags

The U.S. auto safety regulator said on Tuesday it would require Ford Motor Co to recall 3 million vehicles with potentially defective Takata air bags, rejecting a bid by the second-largest U.S. automaker to avoid calling them back.

"Act big" now to save economy, worry about debt later, Yellen says in Treasury testimony

Janet Yellen, U.S. President-elect Joe Biden's nominee for Treasury Secretary, urged lawmakers on Tuesday to "act big" on coronavirus relief spending, arguing that the economic benefits far outweigh the risks of a higher debt burden.

Yellen tells lawmakers to 'act big' on coronavirus relief

Janet Yellen, U.S. President-elect Joe Biden's nominee for Treasury Secretary, urged lawmakers on Tuesday to "act big" on the next coronavirus relief package, adding that the benefits outweigh the costs of a higher debt burden.

Wall Street closes higher as Yellen backs more stimulus

Wall Street's main indexes rose on Tuesday as U.S. Treasury Secretary nominee Janet Yellen advocated for a hefty fiscal relief package before lawmakers to help the world's largest economy ride out a pandemic-driven slump.

Eyeing a recovery, American Airlines' regional carrier to resume pilot hiring

American Airlines' wholly-owned regional subsidiary PSA Airlines plans to resume new pilot hiring this year, a positive sign for an industry that was ravaged last year by the coronavirus pandemic but is now preparing to ramp up flying.

Tyson Foods settles more of chicken price-fixing litigation

Tyson Foods Inc agreed to settle price-fixing litigation by consumers who accused it of illegally conspiring to inflate prices in the $65 billion chicken industry.

Treasury nominee Yellen says markets should determine value of dollar

Janet Yellen, U.S. President-elect Joe Biden's nominee for Treasury Secretary, said the value of the dollar should be determined by markets, and the targeting of exchange rates for commercial advantage by other countries was "unacceptable."

Democrat Wyden wants Thursday vote on Yellen as U.S. Treasury secretary

Senator Ron Wyden, the top Democrat on the U.S. Senate Finance Committee, said he would push for a Thursday vote to confirm former Fed Chair Janet Yellen as the next Treasury secretary.

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