Business & Finance News
Bankrupt Hertz Global Holdings Inc on Wednesday suspended its plan to sell up to $500 million in new shares after the U.S. Securities and Exchange Commission (SEC) raised objections to the sale, the car rental firm said on Wednesday.
PepsiCo Inc said on Wednesday it will change the name and brand image of its Aunt Jemima pancake mix and syrup, dropping a mascot that has been criticized for a racist history, amid a national debate over racial inequality in the United States.
Oil prices settled lower on Wednesday on fuel demand worries due to an uptick in coronavirus cases, with emerging hotspots in China and the United States, and as U.S. crude stocks grew again, taking commercial inventories to another all-time high.
Banks across the United States are facing a shortage of coins during coronavirus crisis, prompting the U.S. Federal Reserve to ration distribution and work with the U.S. Mint to boost supply.
A U.S. House of Representatives panel is debating on Wednesday a Democratic plan to boost infrastructure spending that aims to fix crumbling roads and highways and reduce carbon pollution.
Ride-hailing company Lyft Inc on Wednesday said every vehicle on its ride-hailing and rental car platform will be electric by 2030, but it would not provide direct financial support to drivers for switching from gas-powered cars.
A U.S. House of Representatives panel is debating on Wednesday a Democratic plan to boost infrastructure spending that aims to fix crumbling roads and highways and reduce carbon pollution.
LATAM Airlines Group on Wednesday said its Argentine subsidiary will cease operations indefinitely, canceling all domestic flights, its first major cutback since filing for bankruptcy protection.
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.
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.
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.
PepsiCo Inc will change the name and brand image of its Aunt Jemima pancake mix and syrup, it said on Wednesday, dropping a mascot that has been criticized for a racist history.
The U.S. Justice Department proposed on Wednesday that Congress take up legislation to curb protections that big tech platforms like Alphabet’s Google and Facebook have had for decades, a senior official said, following through on U.S. President Donald Trump’s bid to crack down on tech giants.
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.
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.
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