European Economics Preview: Eurozone Consumer Price Data Due Consumer prices from euro area, unemployment and retail sales from Germany are due on Wednesday, headlining a busy day for the European economic news. At 2.00 am ET, the Office for National Statistics releases revised UK GDP data for the second quarter. The economy is forecast to shrink 20.4 percent sequentially, as initially estimated.

Disney Plans To Lay Off 28,000 Theme Park Employees In U.S. Walt Disney Co. plans to lay off 28,000 theme park employees in U.S., as the coronavirus pandemic continues to affect its businesses. The layoff will affect about 67 percent of part-time employees.

JPMorgan To Pay $920 Mln Fine For Manipulating Precious Metals, Treasury Market JPMorgan Chase & Co (JPM) agreed to pay a total of $920 million in penalty to settle U.S. investigations into the company's alleged manipulation of metal and treasuries markets.

Stocks Close Weak As Mood Turns Cautious Ahead Of Presidential Debate U.S. stocks faltered after recovering from a weak start Tuesday morning, but slipped deeper into the red by noon and despite recovering gradually, eventually ended the session on a negative note, snapping a three-day winning streak.

Stage Set For First Presidential Debate With just 34 days remaining for Americans to vote for the country's next leader, the stage is all set for the first of the three socially distanced presidential debates to take place. Moderated by Chris Wallace of Fox News at Case Western Reserve University and Cleveland Clinic in Cleveland, Ohio, the debate will kick off at 9 PM ET on Tuesday. There will be six segments of approximately 15 minu

Hong Kong Monetary Authority Selects Consensys For CBDC Project The Hong Kong Monetary Authority has selected U.S.-based blockchain technology firm ConsenSys to conduct a study on the application of a central bank digital currency for cross-border payments. ConsenSys has been awarded a contract by the HKMA to develop technology for a central bank digital currency proof-of-concept.

150 Million Covid Rapid Tests To Be Distributed Nationwide The Trump Administration announced a national plan to distribute 150 million Abbott rapid point-of-care coronavirus tests in the coming weeks to assist Governors' efforts to safely reopen their states and schools. Explaining its details at a White House news conference, President Donald Trump said 50 million tests will go to protect the most vulnerable communities, and 100 million tests will be g

Elon Musk Mulls IPO For SpaceX's Starlink 'several Years In Future' Elon Musk, the founder and CEO of Space Exploration Technologies, or SpaceX, said the aerospace company is planning to list its space internet venture, Starlink, after many years when revenue growth is smooth and predictable. In a tweet, Musk said, "We will probably IPO Starlink, but only several years in the future when revenue growth is smooth & predictable. Public market does *not* like erratic

Tuesday Is National Coffee Day It's again that day of the year when coffee lovers celebrate their passion for the caffeinated beverage. It is National Coffee Day today in the U.S. when major food and beverage outlets nationwide promote the coffee culture with deals for coffee fans. In the U.S., major coffee outlets such as Starbucks, Dunkin' Donuts, Wawa, Krispy Kreme, Wendy's and Panera Bread give away free cups of coffee.

Futures Point To Lower Open Ahead Of First Presidential Debate Ahead of the first Presidential debate tonight, the early signs from the U.S. Futures Index suggest that Wall Street might open slightly down. At 9.00 pm, President Donald Trump and former Vice President Joe Biden will debate. The U.S. International Trade in the goods report and monthly Retail Inventories...

GM To Repay $28 Mln Tax Credits To Ohio After Closing Lordstown Plant The state of Ohio ordered General Motors to repay $28 million in tax credits after closing the Lordstown plant, which was in agreement to be operated until 2040. The Ohio Tax Credit Authority said the closure violated the terms of two economic development agreements signed by the company. In separate development, GM announced it is investing $71 million in two other Ohio manufacturing facilities.

Global COVID-19 Deaths Cross 1 Million The world on Tuesday recorded a terrible milestone of the number of people dying from coronavirus infection reaching 1 million. The United States, Brazil and India make up nearly half of the total death toll globally, with U.S. recording the most deaths and infections. With the addition of 33,735 coronavirus-related cases in the last 24 hours, total number of infections in the U.S. reached 71490

European Shares Slide Ahead Of Trump-Biden Debate European stocks were moving lower on Tuesday as investors looked for cues from the final round of Brexit trade talks as well as the upcoming U.S. presidential debate. The European Union and Britain have indicated that a post-Brexit deal was still some way off as negotiations recommenced over implementing...