Business News

Los Angeles County officials said on Wednesday that movie and TV production could resume on Friday, but movie theaters in the biggest market in the United States must remain closed because of the coronavirus pandemic.

Aircraft parts maker Spirit AeroSystems Holdings Inc announced on Wednesday a 21-day layoff for staff doing production and support work for Boeing Co's 737 program.

Amazon.com Inc said on Wednesday it was implementing a one-year moratorium on the use of its facial recognition software by the police following backlash over the use of racially biased surveillance technology amid ongoing protests in the United States. (Reporting by Ayanti Bera in Bengaluru; Editing by Anil D'Silva)

It is not too late for small and medium-sized U.S. businesses to benefit from the Federal Reserve's "Main Street" lending program, Chair Jerome Powell said on Wednesday, even though its launch in the coming days will be nearly three months after the central bank announced the nearly $600 billion program.

A bipartisan group of U.S. lawmakers on Wednesday introduced a bill that would provide more than $22.8 billion in aid for semiconductor manufacturers, aiming to spur the construction of chip factories in America amid a simmering strategic technology rivalry with China.

Aircraft parts maker Spirit AeroSystems Holdings Inc announced on Wednesday a 21-day layoff for staff doing production and support work for Boeing Co's 737 program.

The U.S. dollar would probably come under further pressure if the Federal Reserve adopts targets for U.S. Treasury yields that would limit their rise and ensure that interest rates remain near zero for some time.

Tesla Inc's stock jumped above $1,000 a share on Wednesday after Chief Executive Elon Musk told his staff it was time to bring the Tesla Semi commercial truck to "volume production."

Los Angeles County officials said on Wednesday that movie and TV production can resume on Friday, but movie theaters must remain closed because of the coronavirus epidemic.

The U.S. Federal Reserve on Wednesday signaled it plans years of extraordinary support for an economy facing a torturous slog back from the coronavirus pandemic, with policymakers projecting the economy to shrink 6.5% in 2020 and the unemployment rate to be 9.3% at year's end.

The dollar slid to a three-month low and a gauge of global stocks fell on Wednesday after the Federal Reserve projected a more sluggish recovery than the market expected, but the Nasdaq hit a fresh high on expectations of low interest rates past 2022.

The dollar slid to a three-month low and a gauge of global stocks fell on Wednesday after the Federal Reserve projected a more sluggish recovery than the market expected, but the Nasdaq hit a fresh high on expectations of low interest rates past 2022.

Boeing supplier Spirit AeroSystems Holdings Inc announced on Wednesday a 21-day layoff for staff doing production and support work for Boeing's 737 program.

ConocoPhillips Chief Executive Officer Ryan Lance on Wednesday expressed surprise at the quick rebound in U.S. oil prices that slipped into the negative territory in April and said he expects prices to remain volatile in the near term.

Tyson Foods Inc said on Wednesday it was cooperating with the U.S. Department of Justice on a price-fixing investigation in the poultry industry, under a program that could protect the meat processor from criminal prosecution.

ConocoPhillips Chief Executive Officer Ryan Lance on Wednesday expressed surprise at the quick rebound in U.S. oil prices that slipped into the negative territory in April and said he expects prices to remain volatile in the near term.

New York state filed civil charges on Wednesday accusing Endo International Plc of insurance fraud for misrepresenting the safety and efficacy of its opioid drugs, adding fuel to the nation's opioid crisis.

Ford Motor Co said on Wednesday it will recall 2.15 million U.S. vehicles with potentially faulty door latches.

Oscar-winning Civil War epic "Gone with the Wind" was pulled from the HBO Max streaming service and reality TV show "Cops" was canceled as America's reckoning with systemic racism extended to its popular culture.

Nikola Corp, a maker of hydrogen-fueled vehicles, is in the process of picking a partner to produce its Badger pickup truck, while also aiming to start deliveries of its electric commercial big rigs next year, founder Trevor Milton said on Wednesday.