Category: Business

The Federal Reserve kept its loose monetary policy intact on Thursday and pledged again to do whatever it can in coming months to sustain a U.S. economic recovery losing speed amid a spreading coronavirus pandemic and facing uncertainty over a still-undecided presidential election. The economy is still growing but “I would not say that anybody […]

The number of Americans filing new claims for unemployment benefits fell only slightly last week, adding to signs that the economic recovery was losing steam as the COVID-19 pandemic intensifies and fiscal stimulus ends. The economy could be plunged into a period of uncertainty following Tuesday’s presidential election, potentially undermining business investment and delaying a […]

The dollar slipped and global stock markets surged on Thursday as investors bet Republicans would be able to halt major policy changes under a Joe Biden presidency, while the Bank of England became the latest central bank to announce more stimulus. With both Georgia U.S. Senate seats headed for possible runoff elections in January, the […]

The Federal Reserve’s asset purchases succeeded in calming markets and supporting to the economy, and officials plan to keep buying at the current pace – not more, not less – for the foreseeable future, Fed Chair Jerome Powell said on Thursday. The U.S. central bank is purchasing about $120 billion in bonds a month, including […]

Bombardier’s chief executive on Thursday said he expects layoffs as part of broader plans to cut excess capacity, after the plane-and-train maker missed on quarterly operating profits earlier in the day due to the coronavirus pandemic. Bombardier is working on plans to cut costs and capacity as the company sheds assets, including its rail division […]

Volkswagen will tweak its strategy to maintain investment momentum for developing electric and autonomous cars as it tries to make up for lost revenues caused by the coronavirus pandemic, the company’s chief executive said. The multi-brand car and truck maker, which owns the Bentley, Bugatti, Porsche, Skoda, Lamborghini and Audi brands, is preparing a strategy […]

Apple Inc has been ordered to face a proposed class-action lawsuit by shareholders who accused Chief Executive Tim Cook of concealing falling demand for iPhones in China, resulting in billions of dollars of investor losses. In a decision on Wednesday, U.S. District Judge Yvonne Gonzalez Rogers said shareholders led by a UK pension fund can […]