Markets

NEW YORK: Wall Street stocks bounced on Wednesday (Apr 22), recovering some of the losses from a two-session slide as US oil prices rallied following a volatile session. The Dow Jones Industrial Average finished up 456.94 points (1.99 per cent) at 23,475.82. The broad-based S&P 500 gained 62.75 ...

NEW YORK: Boeing plans to reduce the workforce in its civil aviation unit by 10 per cent to cut costs as the coronavirus causes a crisis for airlines, two sources familiar with the matter told AFP. The layoffs would impact the unit manufacturing the troubled 737 MAX, which has been...

CSX Corp reported lower quarterly profit on Wednesday after revenue declines from coal, automotive and other sectors weighed on results.

Casino operator Las Vegas Sands Corp reported a loss for the first quarter compared to a year-ago profit, as the coronavirus-induced lockdown kept people away from gaming tables.

U.S. brokers should not be forced to sign an agreement that could make them liable for breaches of a massive new industry trading database that they have no control over, a leading financial industry trade group told regulators on Wednesday.

The recent liquidity crisis in the US$17 trillion U.S. Treasury market has exposed structural problems that are unlikely to be fixed any time soon, which could lead to new bouts of volatility and make it more costly for the U.S. government to sell bonds.

New streaming service Quibi, which offers entertainment and news in episodes of 10 minutes or less on mobile phones, has been downloaded more than 2.7 million times since its April 6 debut, founder Jeffrey Katzenberg told Reuters on Wednesday.

The oil price collapse that took U.S. crude prices sub-zero for the first time in history may turn out to be a silver lining for the world economy, possibly offering a springboard for recovery when coronavirus lockdowns finally end.

Kraft Heinz will extend for two weeks a US$100 per week stipend for factory workers producing its packaged foods during the COVID-19 pandemic, the company said on Wednesday.

Auto retail sales in the United States are beginning to recover from a massive slump in March due to the outbreak of the coronavirus and nationwide stay-at-home orders, according to analysts at research firm J.D. Power on Wednesday.