French luxury house Chanel said on Wednesday it was increasing prices on its handbags and some small leather goods worldwide to take into account a rise in the cost of raw materials amid the coronavirus pandemic.
The S&P 500 and Dow Jones fell shortly after the open on Wednesday as Federal Reserve Chairman Jerome Powell warned of a prolonged recession due to the coronavirus and dispelled speculation over negative interest rates.
Brazil airline Gol Linhas Aereas Inteligentes said Wednesday it will receive a total of 2.4 billion reais ($412.03 million) from Boeing Co as compensation for the grounding of the 737 MAX plane, which has not flown in over a year.
Tesla Inc can take additional steps ahead of a potential reopening of its California assembly plant as soon as Monday after Chief Executive Elon Musk had vowed to defy authorities and won the backing of President Donald Trump, officials said.
Jerome Powell, chairman of the Federal Reserve board of governors, warned Wednesday that the long-term health of the U.S. economy may depend on more fiscal stimulus to fight the economic impacts of the coronavirus.
Millennials look to boost their emergency funds even while the rest of their plans are likely on hold.
The S&P 500 and Dow slipped on Wednesday as Federal Reserve Chairman Jerome Powell warned of an extended period of weak growth and stagnant incomes, while he also dismissed speculation over negative interest rates.
Wall Street bonuses for 2020 could fall by as much as 25%-30% due to the deep cuts to revenues recorded by banks and hedge funds earlier this year as a result of the novel coronavirus, according to a report published Wednesday by compensation consulting firm Johnson Associates Inc.
OPEC on Wednesday again slashed its forecast for global oil demand this year as the coronavirus outbreak causes a global recession, although it said record supply cuts by the group and other producers were already helping rebalance the market.
While Deutsche Bank employees fret about their jobs and pay, Germany's largest lender is trying to track down several hundred former staff to claim share payouts it has been holding in Jersey.
More than a hundred shoppers waited in line outside a Chanel store in Seoul on Wednesday, shrugging off concerns about a second wave of coronavirus infections to beat imminent price hikes by the French luxury brand.
Over 300 lawmakers from around the world on Wednesday urged the International Monetary Fund and World Bank to cancel the debt of the poorest countries in response to the coronavirus pandemic, and to boost funding to avert a global economic meltdown.
Federal Reserve Chair Jerome Powell, in a sober review of where the U.S. economy stands on the cusp of its reopening, warned on Wednesday of an "extended period" of weak growth and stagnant incomes, pledged to use more of the central bank's power as needed, and issued a call for additional fiscal spending.
Federal Reserve Chair Jerome Powell, in a sober review of where the U.S. economy stands on the cusp of its reopening, said on Wednesday the country could face an "extended period" of weak growth and stagnant incomes, pledged to use more Fed power as needed, and issued a call for more fiscal spending.
Tesla Inc and officials in California have resolved their acrimonious clash over safety procedures at the automaker’s sole U.S. assembly plant with a deal that allows production to resume as early as Monday, county officials said.