BusinessBloombergSingapore landlords need a post-Covid remake
Every third dollar changing hands on Singapore Exchange is because of someone buying or selling units in a real estate investment trust. But has the city’s REIT mania gone a bit too far?
BusinessYahoo FinanceStock market news live updates: Stock futures tick down, pausing after rally
Stock futures opened slightly lower Wednesday evening, pausing after a rally sent US equities to their highest level in three months.
PoliticsAssociated PressSenate passes fix for small-business coronavirus relief
The Senate on Wednesday passed legislation to make it easier for businesses struggling during the coronavirus pandemic to take advantage of a payroll subsidy program that's been a central part of Washington's response to the corresponding economic crisis. The Senate passed the bill by voice vote after a handful of GOP opponents gave way. The measure now heads to President Donald Trump for his expected signature.
NewsYahoo FinanceCOVID-19 crisis highlights housing inequality faced by black Americans
Job losses from the COVID-19 crisis risk exacerbating the housing inequality faced by black communities, as millions of Americans face missed rent payments and the increasing threat of eviction.
- NewsAssociated Press
North Dakota tribe to fight ruling giving minerals to state
Leaders of the Mandan, Hidatsa and Arikara Nation in North Dakota and others are challenging a Department of Interior opinion rolling back an Obama-era memo stating that mineral rights under the original Missouri River bed should belong to the Three Affiliated Tribes. The memo filed May 26 by Daniel Jorjani, solicitor for the department, said a review by Historical Research Associates, Inc. shows the state is the legal owner of submerged lands beneath the river where it flows through the Fort Berthold Reservation.
- BusinessAssociated Press
Change Healthcare: Fiscal 4Q Earnings Snapshot
The Nashville, Tennessee-based company said it had a loss of 34 cents per share. Earnings, adjusted for non-recurring costs and stock option expense, came to 42 cents per share. The results beat Wall Street expectations.
- BusinessAssociated Press
Greif: Fiscal 2Q Earnings Snapshot
Greif Inc. GEF) on Wednesday reported fiscal second-quarter net income of $11.4 million, after reporting a loss in the same period a year earlier. On a per-share basis, the Delaware, Ohio-based company said it had net income of 19 cents.
- BusinessAssociated Press
How major US stock indexes fared Wednesday
Stocks rallied again on Wall Street Wednesday, and the S&P 500 climbed back to where it was just one week after it set its all-time high earlier this year. The S&P 500 rose for a fourth straight day and climbed back within 8% of its record set in February as lockdowns loosen around the world and raise hopes for a coming economic recovery. Treasury yields also strengthened in a sign of improved confidence after several reports suggested that while the U.S. economy is still getting pummeled, it may not be as bad as economists had feared.
- NewsAssociated Press
Germany's governing parties agree on $146 billion stimulus package to revive economy hit by coronavirus pandemic
Germany's governing parties agree on $146 billion stimulus package to revive economy hit by coronavirus pandemic.
- BusinessAssociated Press
Gilat: 1Q Earnings Snapshot
Gilat Satellite Networks Ltd. (GILT) on Wednesday reported a first-quarter loss of $11.8 million, after reporting a profit in the same period a year earlier. On a per-share basis, the Petah Tikva, Israel-based company said it had a loss of 21 cents. Losses, adjusted for non-recurring costs and stock option expense, were 15 cents per share.
- BusinessAssociated Press
Elastic: Fiscal 4Q Earnings Snapshot
MOUNTAIN VIEW, Calif. (AP) _ Elastic NV (ESTC) on Wednesday reported a loss of $31.2 million in its fiscal fourth quarter. The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of 31 cents per share.
- BusinessAssociated Press
Zoom, Cheesecake Factory rise; HealthEquity, Ambarella fall
Lyft Inc. up $2.76 to $34.44 The ride-hailing company said business improved in May with a 26% increase in rides from April. The Cheesecake Factory Inc.
BusinessYahoo FinanceStock market news live updates: Stocks rise for fourth straight session as markets shake off unrest, lousy ADP data
Stocks extended gains Wednesday as investors set their sights on more plans to reopen businesses in the near-term.
BusinessYahoo FinanceThe next hot building amenity is clean air
The best offices have meditation rooms and gourmet lunches. A high-end apartment building might have a dog park. But tenants and building owners have a new priority amenity: clean air.
- BusinessAssociated Press
Guidewire Software: Fiscal 3Q Earnings Snapshot
SAN MATEO, Calif. (AP) _ Guidewire Software Inc. (GWRE) on Wednesday reported a loss of $31 million in its fiscal third quarter. The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 6 cents per share.
BusinessYahoo FinanceWalmart leadership denounces 'senseless' George Floyd killing, embraces 'more just and fair country'
“[Our] problems as a nation run much deeper than one horrible event,” McMillon said, adding, “Until, we as a nation, confront and address these hard realities, we will never achieve the best of what we can be.”
- BusinessAssociated Press
Fossil Group: 1Q Earnings Snapshot
Fossil Group Inc. FOSL) on Wednesday reported a loss of $85.6 million in its first quarter. On a per-share basis, the Richardson, Texas-based company said it had a loss of $1.69.
NewsAssociated PressNevada betting on health safety as Las Vegas casinos reopen
After 78 days of historic quiet, cards will be cut, dice will roll and jackpots can jingle again 12:01 a.m. Thursday at casinos in Las Vegas and throughout Nevada. “There’s a tremendous amount on the line, not only for casinos, but for the community and the state,” said Alan Feldman, a longtime casino executive now a fellow at the International Gaming Institute at the University of Nevada, Las Vegas.
- BusinessAssociated Press
Comtech: Fiscal 3Q Earnings Snapshot
Comtech Telecommunications Corp. CMTL) on Wednesday reported a fiscal third-quarter loss of $4 million, after reporting a profit in the same period a year earlier. The Melville, New York-based company said it had a loss of 16 cents per share.
BusinessYahoo FinanceTech CEOs decry racial injustice amid George Floyd protests: Tech
Weekly highlight of Yahoo Finance's top tech news, features and analyses.
- BusinessAssociated Press
Closing prices for crude oil, gold and other commodities
Benchmark U.S. crude oil for July delivery rose 48 cents to settle at $37.29 a barrel Wednesday. Brent crude oil for August delivery rose 22 cents to $39.79 a barrel. Wholesale gasoline for July delivery was little changed at $1.12 a gallon.
HealthAssociated PressMalaria drug fails to prevent COVID-19 in a rigorous study
A malaria drug President Donald Trump took to try to prevent COVID-19 proved ineffective for that in the first large, high-quality study to test it in people in close contact with someone with the disease. Results published Wednesday by the New England Journal of Medicine show that hydroxychloroquine was no better than placebo pills at preventing illness from the coronavirus. The drug did not seem to cause serious harm, though -- about 40% on it had side effects, mostly mild stomach problems.
- PoliticsAssociated Press
Snapchat to stop 'promoting' Trump amid uproar over tweets
Snapchat will stop “promoting” President Donald Trump on its video messaging service, the latest example of a social media platform adjusting how it treats this U.S. president. Last week, Twitter placed fact-check warnings on two Trump tweets that called mail-in ballots “fraudulent” and predicted problems with the November elections. It demoted and placed a stronger warning on a third tweet about Minneapolis protests that read, in part, that “when the looting starts the shooting starts.”
- NewsAssociated Press
Ex-UAW president pleads guilty to living high life on dues
A former president of the United Auto Workers pleaded guilty Wednesday to conspiring with others to embezzle dues to pay for golf trips, expensive meals and stays at California villas — the most significant conviction yet in a scandal that has roiled the union. Gary Jones, who appeared by video in federal court in Detroit, acknowledged that he falsified expenses from 2012 to 2017 when he was a regional UAW director in St. Louis. The first wave of convictions, which included some Fiat Chrysler employees, involved money from a Fiat Chrysler-UAW training center in Detroit.
- BusinessAssociated Press
People harmed by OxyContin have more time to file claims
People injured by the powerful prescription painkiller OxyContin have another 30 days to file legal claims against the manufacturer. A federal bankruptcy judge on Wednesday agreed to extend the filing deadline to July 30. Purdue Pharma and some of the governments suing the company requested the extension because the coronavirus pandemic might have prevented some people from making claims by the original deadline.