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Mnuchin says U.S. recovery has begun, will gain strength in Q3, Q4

U.S. Treasury Secretary Steven Mnuchin said on Wednesday that the U.S. economy has already begun to rebound from the coronavirus pandemic and would "improve dramatically" in the third and fourth quarters.



3 years ago

Goldman traders gain $1 billion in commodities revenue after oil slump: Bloomberg

Goldman Sachs Group Inc commodities unit generated more than $1 billion in revenue this year through May as traders positioned their bets for the collapse in oil prices, Bloomberg reported on Wednesday.



3 years ago

Tesla to accelerate production of Semi trucks: memo

Tesla Inc Chief Executive Elon Musk has told his staff it was time to bring the Tesla Semi commercial truck to "volume production," a message that coincides with a surge in the share price of rival clean truck maker Nikola Corp.



3 years ago

J&J to begin human trials of COVID-19 vaccine in second half of July

Johnson & Johnson said on Wednesday it would start human trials of its potential COVID-19 vaccine in the second half of July.



3 years ago

Oil falls below $41 as U.S. inventory rise revives glut worries

Oil fell more than 1% to below $41 a barrel on Wednesday after a report showed a rise in crude inventories in the United States, reviving concerns about oversupply and weak demand because of the coronavirus crisis.



3 years ago

Delta expects second-quarter revenue to slump, looks to amend debt deals

U.S. carrier Delta Air Lines on Wednesday forecast a 90% plunge in second-quarter revenue and warned it would need to renegotiate its debt agreements to avoid a default next year.



3 years ago

Ford to return to pre-COVID production rates in U.S. plants by July 6: COO

Ford Motor Co expects to have its U.S. vehicle assembly plants return by early July to building at the rates they did before the coronavirus pandemic shut down the U.S. auto industry for two months, a top executive said on Wednesday.



3 years ago

A surprise hit to your finances could set you back for years, report says. Here's how to stage a comeback

A survey conducted before the Covid-19 pandemic shows that about 75% of respondents had dealt with at least one major financial setback in the past, and 40% said it took three to five years to get their finances back on track.

3 years ago

Someone nabbed the $410 million Mega Millions jackpot. Now, here's that tax bill

Whether the jackpot is claimed as an annuity or lump sum, federal and state taxes will be withheld, and more will likely be due to Uncle Sam at tax time.

3 years ago

As small businesses rehire and rebuild, the road to full recovery is a long one

Although the SBA has approved more than 4.5 million emergency loans to support small businesses, many workers are still unemployed.

3 years ago

Starbucks sees up to $2.2 billion hit to third-quarter operating income from COVID-19

Starbucks Corp said on Wednesday it expected current-quarter operating income to plunge by up to $2.2 billion, with sales declines for the rest of the year even as stores reopen following easing of coronavirus lockdowns.



3 years ago

Here are five lessons that entrepreneurs can apply to their businesses, post-PPP

The federal government's forgivable loan program provided entrepreneurs with a necessary lifeline — but came with plenty of headaches for owners. Here are five ways their businesses might be better prepared for the next disaster.

3 years ago

U.S. consumer prices post third straight monthly drop

U.S. consumer prices fell for a third straight month in May and underlying inflation was weak as demand remained subdued amid a recession caused by the COVID-19 pandemic.



3 years ago

Here's what negative interest rates from Fed would mean for you

For everyday Americans, negative interest rates would likely mean lower mortgage and credit card rates but even lower returns on savings, if any at all.

3 years ago

S&P 500, Dow slip ahead of Fed outlook; Nasdaq scales fresh high

The S&P 500 and Dow eased on Wednesday, as losses in financial stocks outweighed a boost from technology, with focus shifting to the Federal Reserve's first projections on the economy since the coronavirus outbreak.



3 years ago