WASHINGTON (Reuters) – U.S. Treasury Secretary Steven Mnuchin on Tuesday defended the Trump administration’s fiscal response to the coronavirus pandemic and told senators he was willing to consider extending and modifying a payroll loan program for small businesses. In a sometimes testy hearing before the Senate Banking Committee, Mnuchin and Federal Reserve Chair Jerome Powell […]

HONG KONG/NEW YORK (Reuters) – Luckin Coffee Inc (LK.O) said on Tuesday that Nasdaq Inc (NDAQ.O) has given it notice that it plans to delist it from the U.S. stock exchange a month after the Chinese coffee chain disclosed that some of its employees fabricated sales accounts. The move underscores Nasdaq’s renewed focus on the […]

WASHINGTON (Reuters) – The U.S. government’s handling of its massive economic response to the coronavirus pandemic will come under scrutiny on Tuesday as Treasury Secretary Steven Mnuchin and Federal Reserve Chair Jerome Powell testify before the Senate Banking Committee. Senators are expected to grill Mnuchin and Powell about actions still needed to keep the world’s […]

LONDON/NEW YORK (Reuters) – Americans increased their visits to supermarkets far more than to Walmart Inc (WMT.N) stores as panic-buying peaked in mid-March, a Reuters analysis of foot traffic to retailers in the United States shows. Yet by early May, visits to Walmart had rebounded and were outpacing visits to supermarkets, according to the analysis. […]

WARREN, Michigan (Reuters) – The Detroit Three automakers and their suppliers began restarting assembly lines on Monday after a two-month coronavirus lockdown in a slow revival of a sector that employs nearly 1 million people in the United States. On a chilly and damp Monday morning, hundreds of workers at Fiat Chrysler Automobile’s (FCA) (FCHA.MI) […]

(Reuters) – Delta Air Lines (DAL.N) said on Monday it would resume flying several major routes in June that were suspended due to the COVID-19 pandemic. Salt Lake City to Mexico City is among several routes the U.S. carrier is resuming next month even as its overall second quarter schedule is expected to be 85% […]

(Reuters) – Hertz Global Holdings Inc (HTZ.N) on Monday appointed Paul Stone as its chief executive officer days after the U.S. car rental company raised going-concern doubts following a bigger quarterly loss. Hertz, backed by billionaire investor Carl Icahn, has suffered a “sudden and dramatic negative impact” on its business due to the coronavirus crisis, […]

LONDON (Reuters) – Britain and the United States are hopeful that negotiations for a trade agreement can proceed at an accelerated pace, Britain’s department for trade said on Monday in an update on the talks after the first round concluded last week. “Both sides are hopeful that negotiations for a comprehensive trade agreement can proceed […]

With college campuses closed because of the coronavirus pandemic, free virtual tours have grown in popularity. High school juniors hoping to begin college in autumn next year are not able to visit campuses in person, but they and their families have many ways to explore their options while staying safe at home. Here is a […]

(Reuters) – J.C. Penney Co Inc (JCP.N) said on Saturday a U.S. Bankruptcy Court will allow it to keep paying wages and benefits to workers who will remain on the job after the U.S. department store chain filed for Chapter 11 protection from creditors, and also to pay vendors for goods delivered to its stores. […]