19 Aug Fed Minutes Note Consumer Spending Rebound, Uncertainty U.S. central bankers noted the rebound in consumer spending at their last meeting but repeated their view that the path of the recovery would depend on containment of the virus. Read more...
19 Aug Infrastructure Investments Possible Under Biden, Sen. Chuck Schumer Says The top Democrat in the U.S. Senate argued investments in infrastructure networks would be achievable in Congress under a Joe Biden administration and Democratic majority. Read more...
19 Aug World’s Largest Offshore Rig Owner Valaris Goes Bankrupt Valaris Plc became the latest casualty of the global slump in oil prices, filing for bankruptcy Aug. 19 as the world’s largest offshore rig owner by fleet size seeks to restructure a roughly $7 billion debt load. Read more...
19 Aug States Sue Trump Over USPS Even as Changes Paused More than a dozen states sued President Donald Trump over changes at the U.S. Postal Service that they said trampled federal law and threatened delivery of mail-in ballots, even after Postmaster General Louis DeJoy pledged to delay the moves until after the November election. Read more...
19 Aug Lawmakers Seek Investigation of Military Moving Contract Re-Award Several members of Congress have written letters requesting further investigation into the award of a $7.2 billion Department of Defense contract to a company they claim lacks the experience to move an estimated 400,000 members of the military and their families and DOD employees across the globe each year. Read more...
19 Aug Maersk Lifts Profit Outlook in Sign of Pandemic Resilience The world’s largest container line may generate $1.5 billion more in operating profit this year than previously expected, as its business proves resilient to the COVID-19 crisis. Read more...
19 Aug GM to Double Down on China After Tesla Grabs EV Lead General Motors Co. is accelerating its push into the fast-growing electric-car segment in China, the world’s largest market, seeking to challenge sales leader Tesla Inc. and a slew of local contenders. Read more...
18 Aug Postmaster General Halts Service Changes Until After Election Postmaster General Louis DeJoy said he is suspending changes to mail service that raised concerns over slow delivery of ballots in the fall election after Democrats accused President Donald Trump of hampering the vote-by-mail process. Read more...
18 Aug Amazon to Establish Tech Hubs in Six Cities, Including Detroit Online retail giant Amazon.com Inc. said Aug. 18 it will put a tech hub in Detroit and five other U.S. cities. The move is expected to create 3,500 jobs in total. Read more...
18 Aug Three More States to Announce Lawsuits Over USPS, Mail-In Voting Three more Democratic-led states announced they will take legal action to protect the U.S. Postal Service and mail-in voting as the Trump administration faces claims it is trying to undermine the election. Read more...