Business News

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.

Walt Disney Co on Friday will release a film adaptation of popular young adult book series "Artemis Fowl," one that its stars and director admit differs from the story written by Irish author Eoin Colfer.

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.

U.S. carrier Delta Air Lines said on Wednesday it expects to have $10 billion in cash, cash equivalents, short-term investments and borrowing capacity by year-end.

Norway's energy minister said state-controlled Equinor must be more transparent about its foreign businesses after it was hit by mounting losses from U.S. oil and gas investments.

* Futures up: Dow 0.17%, S&P 0.33%, Nasdaq 0.79% (Adds comment, details; updates prices)

Starbucks Corp on Wednesday forecast its third-quarter operating income to plunge by about $2.2 billion, hit by coronavirus-induced store closures.

* Aims to be entertainment leader in German-speaking countries (Recasts with CEO comments on M&A; supervisory board vote)

Saks Fifth Avenue owner Hudson's Bay Company is preparing a bond offering to shore up its finances, the latest retailer to do so after the novel coronavirus pandemic forced widespread store closures, according to people familiar with the matter.

Abbvie Inc said on Wednesday it is partnering with Danish biotech firm Genmab AS to jointly develop and market cancer treatments, as it looks to expand its cancer franchise.

Facebook, Google and Twitter should provide monthly reports on their fight against disinformation, two senior EU officials said on Wednesday as they called out Russia and China for their roles in the spread of fake news.

A cross-border European TV merger would make little sense, the CEO of German broadcaster ProSiebenSat.1 Media said on Wednesday, pushing back against calls for closer cooperation from Italy's Mediaset .

Oil fell more than 2% towards $40 a barrel on Wednesday after a report showed a rise in crude inventories in the United States, reviving concerns about oversupply and weak demand due to the coronavirus crisis.

* Inditex to pay 0.35 euro/share dividend for 2019 (Adds comment from conference call, shares, analyst comment)

China Express Airlines said on Wednesday it had signed a strategic partnership agreement with the Commercial Aircraft Corporation of China (COMAC) to buy a total of 100 ARJ21 and C919 passenger aircraft for delivery from 2020.

Singapore on Wednesday approved the use of Gilead Sciences Inc's antiviral drug remdesivir for the treatment of severely ill patients with COVID-19 infection.

The head of the NATO military alliance said on Wednesday that the West could not ignore the rise of China and so it was important that Britain had a review of the role of Huawei in its 5G network to ensure its security.

German utility RWE plans to mass produce hydrogen from renewable energy sources as part of a supply deal with Thyssenkrupp so Germany's largest steel maker can gradually replace coal to power its blast furnaces.

Two drugs used to treat inflammatory diseases and cancer are being tested as potential therapies for patients with COVID-19, the Universities of Birmingham and Oxford announced on Wednesday.

The head of the NATO military alliance said on Wednesday that the West could not ignore the rise of China and so it was important that Britain had a review of the role of Huawei in its 5G network to ensure its security.