California and other states which had fought a merger of Sprint Corp and T-Mobile US Inc over concerns about higher prices for consumers and less innovation have agreed to end their opposition.
While President Donald Trump has proposed a 0% payroll tax rate for the rest of 2020, such a move could have big consequences for programs like Social Security and Medicare that rely on those taxes. And those cuts might not necessarily lead to higher consumer spending. Experts weigh in on how such a change could pan out.
The S&P 500 on Wednesday fell 20% below its Feb. 19 intraday record high, crossing the threshold into a bear market after the World Health Organization classified the coronavirus outbreak as a pandemic.
Oil prices fell 4% on Wednesday, sinking into the close of trading with renewed weakness in the stock market after the World Health Organization said the global coronavirus outbreak is now a pandemic, and as major oil producers announced plans to escalate the burgeoning price war.
Boeing Co is freezing new hiring and overtime except in certain critical areas in efforts to preserve cash due to the coronavirus outbreaks and the 737 MAX grounding, people familiar the matter said on Wednesday.
Top oil exporter Saudi Arabia said on Wednesday it would launch a program to boost production capacity for the first time in more than a decade, signaling to Russia and other rivals it was ready for a long battle over production levels and market share.
Until recently, economists were debating what it would take for the U.S. economy to fall into a recession. But after taking a cue from markets, the conversation for some economists has shifted from whether there will be a sharp downturn, to figuring out what shape the recovery could take.
Leaders of the biggest U.S. banks were summoned to Washington by President Trump to discuss ways to support small businesses and markets.
The U.S. government recorded a $235 billion budget deficit in February, the Treasury Department said on Wednesday.
U.S. consumer prices unexpectedly rose in February but could drop in the months ahead as the coronavirus outbreak depresses demand for some goods and services, outweighing price increases related to shortages caused by disruptions to the supply chain.
Oil prices bounced back 7% on Tuesday from the biggest one-day rout in nearly 30 years, as investors eyed the possibility of economic stimulus despite a price war between top producers Saudi Arabia and Russia.
Asian shares bounced and bond yields rose from historic lows on Tuesday as speculation of coordinated stimulus from global central banks and governments calmed panic selling.
Tesla Inc plans to increase its production capacity for certain car parts at its $2 billion factory in China, according to a government document seen by Reuters, as it pushes to localize its supply chain in the world's biggest auto market.
The largest U.S. airlines are allowing passengers to rebook tickets through April 30 without paying fees to change flights citing uncertainty about traveling during the coronavirus outbreak.
IKEA on Tuesday started selling its products on Alibaba's Chinese e-commerce platform Tmall, the first time the world's biggest furniture retailer has sold through a third party in its 77-year history.