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Updated: 37 min 54 sec ago

UPDATE 3-U.S. Justice Department proposes rolling back protections for big tech

Wed, 06/17/2020 - 13:00
The U.S. Justice Department proposed on Wednesday that Congress take up legislation to curb protections that big tech platforms like Alphabet's Google and Facebook have had for decades, a senior official said, following through on U.S. President Donald Trump's bid to crack down on tech giants.
Categories: Business News

Dominion seeks more time to complete U.S. Atlantic Coast natgas pipe

Wed, 06/17/2020 - 12:47
Dominion Energy Inc asked U.S. energy regulators for two more years to complete the long-delayed $8 billion Atlantic Coast natural gas pipeline from West Virginia to North Carolina, which the company now expects to enter service in early 2022.
Categories: Business News

Canada's Telus says no govt curbs on using Huawei 4G gear in capital region

Wed, 06/17/2020 - 12:44
Canadian telecom operator Telus Corp said on Wednesday that the federal government has not asked it to remove Huawei equipment from 4G network in the capital region, in response to a report by the Globe and Mail.
Categories: Business News

UPDATE 1-Panama extends suspension of international flights due to coronavirus

Wed, 06/17/2020 - 12:39
Panama's civil aviation authority said it will extend a suspension of international flights by a month due to the coronavirus crisis, according to a statement on Wednesday.
Categories: Business News

GLOBAL MARKETS-Stocks seesaw as rising coronavirus cases offset recovery hopes

Wed, 06/17/2020 - 12:34
Equity markets around the world seesawed on Wednesday as the prior day's rally on economic and vaccine hopes faded, while fresh coronavirus outbreaks and rising geopolitical tensions in Asia boosted demand for the dollar and safe-haven debt.
Categories: Business News

UPDATE 4-FAA chief acknowledges agency, Boeing made mistakes on 737 MAX

Wed, 06/17/2020 - 12:31
Federal Aviation Administration chief Steve Dickson acknowledged on Wednesday that Boeing and the U.S. air safety agency both made mistakes in the development of the 737 MAX jetliner, grounded for more than a year following fatal crashes.
Categories: Business News

UPDATE 2-European shares rise for second day on hopes of more U.S. stimulus

Wed, 06/17/2020 - 12:25
* PostNL jumps on raising FY outlook (Adds comments, updates prices to close)
Categories: Business News

Spain to trial coronavirus tracing app on holiday island

Wed, 06/17/2020 - 12:20
Spain will trial a new smartphone app aimed at helping to stop the spread of the novel coronavirus on one of the Canary Islands, authorities said on Wednesday.
Categories: Business News

Israel signs agreement with Moderna for potential COVID-19 vaccine

Wed, 06/17/2020 - 12:20
Israel has signed an agreement with Moderna Inc for the future purchase of its potential COVID-19 vaccine, Prime Minister Benjamin Netanyahu said on Wednesday.
Categories: Business News

U.S. civil rights groups call for pausing ad spending on Facebook

Wed, 06/17/2020 - 12:01
U.S.-based civil rights groups have urged large global corporations to pause advertising on Facebook Inc during July, saying the world's largest social network is not doing enough to stop hate speech on its platform.
Categories: Business News

UPDATE 1-Cargill worried Brazil government 'insulting' top trade partner China

Wed, 06/17/2020 - 11:59
Cargill's chief executive in Brazil, Paulo Sousa, said on Wednesday that insults by Brazilian government officials aimed at the country's main trading partner, China, are detrimental to the South American nation's business interests.
Categories: Business News

U.S. shale companies to boost oil output by 500,000 bpd by month-end

Wed, 06/17/2020 - 11:48
U.S. shale producers are expected to restore roughly half a million barrels per day (bpd) of crude output by the end of June, according to crude buyers and analysts, amounting to a quarter of what they shut since the coronavirus pandemic cut fuel demand and hammered oil prices.
Categories: Business News

TREASURIES-Yields lower as coronavirus cases rise

Wed, 06/17/2020 - 11:47
U.S. Treasury yields fell on Wednesday as new outbreaks of the novel coronavirus boosted demand for the safe haven debt, and before the Treasury will auction 20-year bonds for the second time since their reintroduction last month. Optimism over a quick economic recovery has been tempered by an increase in global cases of the coronavirus, with a new outbreak in Beijing and a rising tide of cases in U.S. states that are
Categories: Business News

Mexico's president accuses Spain's Iberdrola of 'hidden' media attack

Wed, 06/17/2020 - 11:41
Mexican President Andres Manuel Lopez Obrador ramped up verbal attacks on Spain's Iberdrola on Wednesday, accusing the power generation company of mounting a media campaign against his government as well as unspecified acts of graft.
Categories: Business News

UPDATE 1-Baltic index logs record jump as capesize demand spikes

Wed, 06/17/2020 - 11:36
The Baltic Exchange's main sea freight index recorded its biggest ever daily percentage jump on Wednesday, propelled by surging capesize rates due to a spike in iron-ore shipments.
Categories: Business News

NYSE president says second half of year looks strong for IPOs

Wed, 06/17/2020 - 11:34
Initial public offerings have gained steam since the beginning of the coronavirus pandemic and the pipeline going forward looks strong, Stacy Cunningham, president of Intercontinental Exchange Inc's New York Stock Exchange, said on Wednesday.
Categories: Business News

UPDATE 1-EU worried Fiat-PSA deal may hit competition in vans

Wed, 06/17/2020 - 10:24
Fiat Chrysler and Peugeot maker PSA's proposed merger may harm competition in small vans in 14 EU countries and Britain, EU antitrust regulators said on Wednesday as they opened a four-month investigation into the deal.
Categories: Business News

Carlyle-backed Ortho Clinical gets U.S. funding for COVID-19 tests

Wed, 06/17/2020 - 10:18
Private equity firm Carlyle Group Inc -backed Ortho Clinical Diagnostics said on Wednesday its COVID-19 antibody testing program received a grant of $678,000 from the U.S. Biomedical Advanced Research and Development Authority (BARDA).
Categories: Business News

CANADA STOCKS-TSX gains on early economic recovery hopes

Wed, 06/17/2020 - 10:15
Canada's main stock index rose on Wednesday, as signs of more stimulus and improving economic data raised hopes for a sooner-than-expected recovery from the coronavirus-induced recession.
Categories: Business News

EMERGING MARKETS-Chile's peso drops after GDP downgrade; Brazil rate decision in focus

Wed, 06/17/2020 - 10:14
Chile's peso tumbled on Wednesday after the central bank cut its economic growth outlook, while Brazil's real was flat ahead of an interest rate decision, with most Latin American markets trading muted. The peso fell about 1.6% to the dollar after the Chilean central bank revised its 2020 economic growth estimation
Categories: Business News