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Updated: 19 hours 57 min ago

Walmart's Mexico unit rolls out mobile phone service

Wed, 06/17/2020 - 23:10
Walmart's Mexican unit has launched a mobile phone service available throughout the country, the retailer said on Wednesday.

Fed's Bostic says pandemic exacerbated structural inequalities

Wed, 06/17/2020 - 23:06
The coronavirus pandemic is hitting minority communities harder than others and recent incidents of racial discrimination around the country have shed light on the moral and economic costs of racism, Atlanta Federal Reserve Bank President Raphael Bostic said Wednesday.

Oil slips as fresh COVID-19 outbreaks face draw in U.S. fuel stocks

Wed, 06/17/2020 - 23:02
Oil prices edged lower on Wednesday as a drawdown in U.S. distillate stockpiles for the first time since March and a sharp drop in U.S. crude production faced concerns over fuel demand due to fresh outbreaks of COVID-19.

German cabinet approves record new borrowing in coronavirus fight

Wed, 06/17/2020 - 23:00
Chancellor Angela Merkel's cabinet on Wednesday passed another extra budget to finance its bumper stimulus package, pushing up overall new borrowing to a record 218.5 billion euros ($245.35 billion) this year in its fight against the coronavirus.

Lufthansa warns of threat to its $10 billion bailout deal

Wed, 06/17/2020 - 23:00
German airline Lufthansa warned on Wednesday that it might need to apply for protection from creditors if its state-backed bailout deal failed to win sufficient support at a shareholder vote on June 25.

S&P 500, Dow muted as rising COVID-19 cases dent recovery hopes

Wed, 06/17/2020 - 23:00
The S&P 500 and the Dow edged higher in choppy trading on Wednesday as hopes of a swift recovery from a coronavirus-driven downturn were dented by fears of a record rise in coronavirus cases in six U.S. states.

Civil rights groups urge companies to pause ad spending on Facebook

Wed, 06/17/2020 - 22:56
Several U.S. civil rights groups have called upon some of the world's largest companies to pause advertising on Facebook Inc, saying the social network is not doing enough to stop hate speech on its platform.

Exclusive: Amid Brexit impasse, Germany urges no-deal preparations - document

Wed, 06/17/2020 - 22:53
The German government is urging other EU states to prepare for a no deal Brexit, according an internal document that casts doubt on Britain's optimism over chances of an early agreement on its future ties with the bloc.

U.S. homebuilding rises moderately; jump in permits hints at green shoots

Wed, 06/17/2020 - 22:53
U.S. homebuilding increased less than expected in May, but a strong rebound in permits for future home construction suggested the housing market was starting to emerge from the COVID-19 crisis along with the broader economy.

EU calls for global alliance to buy COVID-19 vaccines up front

Wed, 06/17/2020 - 22:47
The European Commission called on Wednesday for global leaders to cooperate to buy bulk quantities of potential COVID-19 vaccines, to avoid "harmful competition" in the race for a shot and ensure any future vaccine is available for poor countries.

Israel signs agreement with Moderna for potential COVID-19 vaccine

Wed, 06/17/2020 - 22:43
Israel has signed an agreement with Moderna Inc for the future purchase of its potential COVID-19 vaccine, Prime Minister Benjamin Netanyahu said on Wednesday.

U.S. lawmaker says seeking bipartisan legislation on airline mask rules

Wed, 06/17/2020 - 22:42
A U.S. senator said on Wednesday he was hoping for bipartisan support in Congress for mandatory rules on masks for air travel after the head of the Federal Aviation Administration again resisted calls for a mandate.

China's Geely Automobile moves towards mainland listing

Wed, 06/17/2020 - 22:41
Geely Automobile Holdings Ltd said on Wednesday its board had approved a preliminary proposal for the possible issue of renminbi shares and a listing on mainland China's Nasdaq-like STAR board.

EU post-COVID recovery plan likely to win backing in July - budget chief

Wed, 06/17/2020 - 22:39
The European Union's economic recovery plan after the COVID-19 pandemic is likely to secure backing from member states in July, helping the 27-nation bloc emerge from the recession together, EU Budget Commissioner Johannes Hahn said on Wednesday.

Canada to present fiscal snapshot on July 8, too early for full update, PM Trudeau says

Wed, 06/17/2020 - 22:37
The Canadian government will unveil a "fiscal and economic snapshot" on July 8 to show much money it has spent combating the coronavirus outbreak, Prime Minister Justin Trudeau said on Wednesday.

Panama extends suspension of international flights due to coronavirus

Wed, 06/17/2020 - 22:27
Panama's civil aviation authority said it will extend a suspension of international flights by a month due to the coronavirus crisis, according to a statement on Wednesday.

LATAM Airlines to suspend operations in Argentina indefinitely

Wed, 06/17/2020 - 22:26
LATAM Airlines Group on Wednesday said it will cease operations at its Argentine subsidiary "indefinitely," its first major cutback since Latin America's largest airline filed for bankruptcy protection last month.

Global Markets: Stocks seesaw as rising coronavirus cases offset recovery hopes

Wed, 06/17/2020 - 22:24
Equity markets around the world seesawed on Wednesday as the prior day's rally on economic and vaccine hopes faded, while fresh coronavirus outbreaks and rising geopolitical tensions in Asia boosted demand for the dollar and safe-haven debt.

FAA chief acknowledges agency, Boeing made mistakes on 737 MAX

Wed, 06/17/2020 - 22:15
Federal Aviation Administration chief Steve Dickson acknowledged on Wednesday that Boeing and the U.S. air safety agency both made mistakes in the development of the 737 MAX jetliner, grounded for more than a year following fatal crashes.

Stocks, dollar gain on U.S. retail sales, drug trial

Wed, 06/17/2020 - 01:08
A record rebound in U.S. retail sales, fresh support from the Federal Reserve and Bank of Japan, and upbeat trial results for a COVID-19 treatment boosted risk appetite on Tuesday, driving global equity markets higher and strengthening the dollar.