What's News : Business & Finance

Published: 2022-07-06 00:18:01 ET CAH

Slowing demand and recession fears helped bring the benchmark U.S. oil price below $100 a barrel Tuesday, continuing a rapid turnaround from soaring levels in recent months.

SAS filed for bankruptcy protection in the U.S., saying a move by about 1,000 of its pilots to go on strike would worsen the airline's already fraught finances.

Fed officials have indicated they accept the risks of causing a recession because they are determined to prevent a change in consumer psychology that could sustain high inflation.

The S&P 500 and Nasdaq closed higher after the market staged a late-day rally, rising 0.2% and 1.7%, respectively, while the Dow industrials fell 0.4%.

A judge ruled that drug distributors McKesson, AmerisourceBergen and Cardinal Health couldn't be held liable for the opioid crisis in West Virginia's Cabell County and the city of Huntington.

Ford reported a nearly 32% increase in U.S. sales for June as it improved truck and SUV deliveries and benefited from the rollout of a new all-electric pickup.

Walmart said it would charge some suppliers a new fee to transport goods to its warehouses and stores, according to a memo viewed by The Wall Street Journal.

Nexo, one of the larger crypto-lending platforms, has agreed in principle to acquire Singapore-based crypto services firm Vauld.

(END) Dow Jones Newswires

07-06-22 0017ET