Marathon Petroleum Corp's oil-refining unit is cutting at least 6% of its staff, according to people familiar with the matter, demonstrating the depth of declining fuel demand during the pandemic.
U.S. stocks jumped on Wednesday as fresh hopes for a new pandemic relief package and upbeat economic data set the major indexes on course to end the quarter on a high note.
The upcoming U.S. presidential election will likely be an important catalyst for stock market moves in coming months as investors gauge the probabilities of a contested vote and the policies a potential winner would enact.
U.S. stocks are set to close out another quarter with sharp gains on Wednesday, but investors could remain wary with the upcoming U.S. presidential election and mounting coronavirus cases.
Lawyers for Huawei Chief Financial Officer Meng Wanzhou told a court on Wednesday that U.S. President Donald Trump's comments on her extradition justified adding an extra allegation to the abuse of process claims during her arrest.
Hopes for another $25 billion in airline aid before midnight Wednesday - the deadline for mass furloughs of airline employees - dimmed after Washington leaders said there was still more work to do on a broad coronavirus relief package.
NextEra Energy Inc Chief Executive James Robo said on Wednesday that the largest U.S. power utility would not embark on a hostile takeover, a day after reports surfaced it had make an approach to Duke Energy Corp in what would be the sector's biggest-ever acquisition.
Republican President Donald Trump and Democratic rival Joe Biden sparred on stage for the first time on Tuesday in a pivotal debate ahead of the Nov. 3 U.S. presidential election.
Federal Aviation Administration (FAA) Chief Steve Dickson conducted a nearly two-hour evaluation flight at the controls of a Boeing 737 MAX on Wednesday, a milestone for the jet to win approval to resume flying after two fatal crashes.
U.S. Treasury Secretary Steven Mnuchin urged airlines to delay tens of thousands of furloughs set to begin at midnight Thursday as he and Speaker of the House Nancy Pelosi try to reach a wide-ranging stimulus deal, which includes help for the ailing industry. Conway G. Gittens reports.
U.S. casino operator Caesars Entertainment agreed on Wednesday to buy British-based gambling group William Hill for 2.9 billion pounds ($3.7 billion). Edward Baran reports.
Sponsored by IBM: Looking for a new podcast?
Smart Talks is a series that brings you stories of innovation and leadership in business. Learn about cloud, AI, and more from today’s top thinkers.
