Tuesday, 12 July 2022

Recession worries keep futures under pressure

Recession worries keep futures under pressure

U.S. stock index futures fell on Tuesday as investors fretted about the health of the global economy as central banks around the world move aggressively to tamp down inflation.

American Airlines expects 12% jump in second-quarter revenue

American Airlines Group Inc said on Tuesday it expects second-quarter revenue to rise by about 12% from pre-pandemic 2019, at a time the aviation industry has been facing several headwinds.

Lordstown Motors names Edward Hightower as CEO

Electric-vehicle startup Lordstown Motors Corp said on Tuesday Edward Hightower will take over the additional role of chief executive officer after Daniel Ninivaggi stepped down with immediate effect.

EU seeks to make airport slot rule more flexible for airlines

The European Commission proposed on Tuesday to make the bloc's "use-it-or-lose-it" airport slot rule more flexible in order to respond to unexpected developments in the future, such as pandemic or war.

Euro pulls back from near parity, up 0.2%

The euro bounced from near-parity versus the dollar on Tuesday and pushed into positive territory in volatile London trading.

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Amazon issued 13,000 disciplinary notices at single U.S. warehouse

Internal Amazon documents, previously unreported, reveal how routinely the company measured workers' performance in minute detail and admonished those who fell even slightly short of expectations - sometimes before their shift ended.

Mercedes-Benz starts trial in class action suit over diesel tests

Mercedes-Benz went on trial on Tuesday in a class action-style lawsuit which alleges that the German carmaker knowingly manipulated diesel-emissions tests by installing defeat devices.

Dollar General CEO Todd Vasos to step down, insider Owen to take over

Dollar General Corp said on Tuesday that Todd Vasos will step down as the discount retailer's chief executive officer and will be succeeded by long-time executive and operations head Jeffery Owen.

U.S. small business sentiment drops near 9-1/2-year low in June, NFIB says

U.S. small-business confidence dropped to the lowest level in nearly 9-1/2 years in June amid concerns about inflation, but demand for labor remained solid as businesses continued to grow their operations, a survey showed on Tuesday.

Peloton to exit in-house manufacturing of its bike, tread products

Exercise equipment maker Peloton Interactive said on Tuesday it will cease in-house production of its bikes and treadmills and move manufacturing to partners in an effort to simplify its operations and reduce costs.

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