U.S. banks set aside billions for potential loan losses

Beyond Meat Drops 10 Percent After Test With McDonald's Ends

CBC reported that McDonald’s ended its Canadian trial of Beyond Meat in April with no plans to continue. According to Business Insider, the plant-based burger dropped as much as 10% because of the news. While Beyond Meat said in an email they were “pleased with the test,” a JPMorgan analyst said usually if a test goes well, it doesn’t end. Beyond Meat CEO Ethan Brown said the plan with McDonald’s hasn’t changed. Despite the recent drop, Beyond Meat is up more than 90% year-to-date.

Virus could cost Mexico a million jobs: president

Mexican President Andres Manuel Lopez Obrador said on Sunday that the novel coronavirus could cost as many as a million jobs in the country as many industries considered not essential remain shut. Libby Hogan reports.

Wells Fargo Directs Employees To Delete TikTok

America’s fourth-largest bank, Wells Fargo, is barring the app TikTok on company devices and instructing any employees who have it currently installed to remove it immediately, citing privacy concerns. “We have identified a small number of Wells Fargo employees with corporate-owned devices who had installed the TikTok application on their device,” Wells Fargo said in a statement to multiple outlets.

Protests over police abuses flare again in Mexico

Masked men and women protesting police abuses vandalized buildings and threw stones at the U.S. Embassy in Mexico City on Friday as Mexican state authorities arrested three officers in a bid to quell anger over the death of a man in police custody.

Stocks soar on growing economic optimism

Wall Street rose sharply on Wednesday, powered by bank and retail shares, as the further easing of lockdowns boosted hopes for an economic recovery. Conway G. Gittens has the market action.

Delta trims flights amid resurgent virus

Delta Air Lines scaled back the flights it planned to add in August amid a surge in COVID-19 cases and warned it will be more than two years before the industry sees a sustainable recovery from the impact of the pandemic. Fred Katayama reports.

Chinese stock rally has 'long legs': strategist

The Shanghai Composite has soared 15% this month, but Invesco's Kristina Hooper says it's not too late to get exposure to Chinese stocks. She tells Reuters' Fred Katayama that they're the "stars" of the emerging market world.

Tesla slashes Model Y price

Tesla cut the price of its sport utility vehicle Model Y by $3,000, just four months after its launch, as the U.S. electric carmaker seeks to maintain sales momentum in the COVID-19 pandemic. Fred Katayama reports.

Democrats blast Trump for Stone commutation

Democrats condemned Trump's decision to commute Roger Stone's prison sentence as an assault on the rule of law. Fred Katayama reports.