Employees at the largest U.S. oil companies have lost around $5 billion in retirement savings since the end of 2018 because of outsized bets on their own slumping stock, according to a Reuters analysis of company disclosures, a trend exacerbated by the recent crash in oil prices.
U.S. companies rushed to bulk up their cash reserves amid market turmoil fueled by the global coronavirus outbreak and a plunge in oil prices.
Boeing Co plans to separate 737 MAX wiring bundles, flagged by regulators as potentially dangerous, before the jet returns to service, two people familiar with the matter told Reuters on Wednesday.
"I think the name of the game right now is to be very selective," Bank of America strategist Savita Subramanian said.
Fear about the coronavirus has pulled the S&P 500 down nearly 20% from its record high. So what?
The Trump administration is "looking at" investments in Chinese military companies by the California Public Employees' Retirement System (CalPERS), U.S. national security adviser Robert O'Brien said on Wednesday.
Boeing Co plans to separate 737 MAX wiring bundles, flagged by regulators as potentially dangerous, before the jet returns to service, two people familiar with the matter told Reuters on Wednesday.
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Allianz economist Mohamed El-Erian said he is seeing signs of stress in financial markets and expects stocks to fall further.
Delta Air Lines Inc said on Wednesday it was extending the suspension of all flights between the United States and China from April 30 to May 31 due to the coronavirus outbreak.
Warren Buffett plans to wait until around April 1 to decide whether the coronavirus pandemic will require changes to Berkshire Hathaway Inc's annual shareholder weekend a month later, Omaha, Nebraska's mayor Jean Stothert said.
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.
The U.S. government recorded a $235 billion budget deficit in February, the Treasury Department said on Wednesday.
Leaders of the biggest U.S. banks were summoned to Washington by President Trump to discuss ways to support small businesses and markets.
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.