President Joe Biden met on Thursday for more than an hour with a bipartisan group of lawmakers on the White House's planned pursuit of a massive jump in spending on projects to restore crumbling U.S. infrastructure.
U.S. Federal Reserve Chair Jerome Powell on Thursday repeated his pledge to keep credit loose and flowing until Americans are back to work, rebutting investors who have openly doubted he can stick to that promise once the pandemic passes and the economy surges on its own.
Boeing Co has approached a group of banks for a new US$4 billion revolving credit facility, according to a person familiar with the matter, as the planemaker battles a prolonged slowdown in commercial air travel due to the COVID-19 pandemic.
The Texas electricity market faces "insurmountable distress" as more gas and service bills come due, power industry officials said on Thursday at a hearing into financial fallout from the state's February blackout.
As policymakers eye a possible recovery in 2021-2022, they must be vigilant about the side effects of prolonged monetary and fiscal stimulus, say William R Rhodes and Stuart PM Mackintosh.
Membership-only retail chain Costco Wholesale Corp beat analysts' estimates for second-quarter revenue on Thursday, as people stuck at home spent more on frozen foods, liquor and electronic products.
Shares of Broadcom Inc fell slightly on Thursday after the company reported chip sales slightly below Wall Street estimates, joining a growing list of chip industry peers hit by the global semiconductor shortage.
Membership-only retail chain Costco Wholesale Corp beat analysts' estimates for second-quarter revenue on Thursday, as people stuck at home spent more on frozen foods, liquor and electronic products.
Wall Street ended sharply lower on Thursday, leaving the Nasdaq down around 10per cent from its February record high, after remarks from Federal Reserve Chair Jerome Powell disappointed investors worried about rising longer-term U.S. bond yields.
U.S. travel demand remains low even as tens of millions of Americans get vaccinated for COVID-19, with just 12per cent planning a spring break trip this year, the industry said Thursday.
