Business

Fed adds Apple, Anheuser-Busch, Expedia to its bond holdings

The U.S. Federal Reserve added $1.33 billion in bonds of individual companies from June 22 to June 30, including iPhone maker Apple Inc(AAPL.O), beer-producer Anheuser-Busch (ABI.BR)and travel booker Expedia Group(EXPE.O). The bond purchases, all on the secondary market, bring the Fed’s holdings of individual corporate bonds to $1.59 billion, according to the latest of what […]

Business

Oil rises as International Energy Agency boosts demand forecast

Oil prices climbed more than 2% on Friday after the International Energy Agency (IEA) bumped up its 2020 demand forecast but record-breaking new coronavirus cases in the United States tempered expectations for a fast recovery in fuel consumption. Prices also found support after data showed U.S. energy firms cut the number of oil and natural […]

Business

TIM excludes Huawei from 5G core equipment tender

Telecom Italia (TIM) (TLIT.MI) excluded China’s Huawei Technologies from a tender it launched this month for 5G equipment for the core network it is preparing to build in Italy and Brazil, two sources familiar with the matter said. The list of invited suppliers comprises Cisco (CSCO.O), Ericsson (ERICb.ST), Nokia (NOKIA.HE), Mavenir and Affirmed Networks, a […]

Business

Amazon begins rolling out bigger UPS and FedEx-style delivery trucks

Amazon.com (AMZN.O) is launching a new fleet of bigger, boxier trucks like those favored by rival package carriers United Parcel Service Inc (UPS.N) and FedEx Corp (FDX.N), as it fights to fix widespread pandemic-fueled delivery delays that sent customers into the arms of competitors like Walmart Inc (WMT.N). The world’s largest online retailer ordered more […]

Business

Cash-strapped New Jersey to borrow up to $9.9 billion under deal

New Jersey, one of the states hardest hit by the coronavirus outbreak, would borrow up to $9.9 billion from sources that could include the U.S. Federal Reserve to deal with massive revenue losses from the economic shutdown, under an agreement announced on Friday between the governor and legislative leaders. At a media briefing, Democratic Governor […]

Business

Amazon.com says it sent the TikTok ban email to employees in error

Amazon.com Inc said it sent an email earlier on Friday that requested employees remove the TikTok app from mobile devices that also had access to company emails in error. A company spokeswoman said there has been no change in its policy on TikTok. “This morning’s email to some of our employees was sent in error,” […]

Business

Credit Suisse settles U.S. shareholder lawsuit over debt writedowns, disclosures

Credit Suisse Group AG (CSGN.S) agreed to pay $15.5 million to settle a lawsuit accusing it of defrauding shareholders about its risk appetite and management before taking $1 billion of writedowns on souring debt, court filings on Friday show. The preliminary settlement of the proposed class action by holders of the Swiss bank’s American depositary […]