Business News

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.

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.

The coronavirus pandemic will not be the end of office buildings, Brookfield Asset Management Chief Executive Bruce Flatt said on Wednesday in an interview with Reuters Breakingviews.

White House Economic Adviser Larry Kudlow said on Wednesday the U.S. economy appears to have hit a turning point after rapidly plunging into a recession due to the coronavirus pandemic about three months ago.

American Airlines Group Inc and Delta Air Lines Inc said on Wednesday that a modest recovery in demand was helping to slow daily cash burn rates in June after the U.S. government reported record low passenger numbers in April amid the coronavirus pandemic.

The members of Mexican retailers' association ANTAD said on Wednesday that same-store sales tumbled by 19.0% in May compared with the same month a year earlier, as the impact of the coronavirus pandemic battered demand.

White House Economic Adviser Larry Kudlow said on Wednesday it appears that the U.S. economy, plunged rapidly into a recession by the coronavirus pandemic about three months ago, has already hit a turning point.

* Rate-sensitive bank stocks track U.S. Treasury yields lower

European food ordering firm Just Eat Takeaway.com NV said on Wednesday it was in advanced talks to buy Grubhub Inc in an all-stock deal that, if completed, would create the world's largest food delivery company by revenue.

The U.S. government has adopted rules to protect landowners affected by natural gas pipeline or liquefied natural gas plant development by forbidding construction until the Federal Energy Regulatory Commission (FERC) acts on requests for rehearing of any decisions for a permit.

Johnson & Johnson moved up the start of human clinical trials for its experimental vaccine against the highly contagious coronavirus by two months to the second half of July, as the drugmaker rushes to develop a prevention for COVID-19, the company said on Wednesday.

The Cboe Futures Exchange submitted a regulatory filing on Tuesday to launch mini futures on the Cboe Volatility Index as it looks to expand its array of products that allow investors to guard against equity market gyrations.

A group of attorneys general from U.S. states and territories sued 26 manufacturers of dermatology drugs on Wednesday, accusing them of price fixing and other violations of antitrust law, the third such lawsuit since 2016.

Boeing Co is aiming to conduct a key certification test flight on its grounded 737 MAX jet in late June, two people briefed on the matter said on Wednesday.

The coronavirus pandemic will not be the end of office buildings, Brookfield Asset Management Chief Executive Bruce Flatt said on Wednesday in an interview with Reuters Breakingviews.

The global economy will suffer the biggest peace-time downturn in a century before it emerges next year from a coronavirus-inflicted recession, the OECD said on Wednesday.