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Reuters Business News
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Updated: 4 years 22 weeks ago
Canada spy agency warned of 'shock waves' from arrest of Huawei founder's daughter
Canada's intelligence agency warned that arresting the daughter of billionaire Huawei founder Ren Zheng would set off global "shock waves" and seriously affect ties with China, just before her detention in Vancouver on a U.S. extradition request, new court documents show.
Categories: Business News
Lawmakers label British Airways 'national disgrace' over jobs
British Airways was labelled a "national disgrace" by lawmakers for its treatment of employees on Saturday, adding to pressure on the airline as it juggles job cuts and new quarantine rules.
Categories: Business News
Airbnb partners with Brazil virus hotspot Sao Paulo on post-pandemic tourism
Home rental firm Airbnb struck a partnership with Brazil's Sao Paulo state to encourage tourism once the novel coronavirus crisis has passed, a company executive said on Friday.
Categories: Business News
Wall Street ends higher but indexes mark worst week since March selloff
U.S. stocks ended higher on Friday as bargain hunters stepped back into the market following sharp losses a day earlier, but all three major indexes suffered their biggest weekly percentage declines since March.
Categories: Business News
Bankrupt Hertz wins approval to offer up to $1 billion in shares
A bankruptcy judge on Friday approved Hertz Global Holdings Inc's proposal to sell up to $1 billion in shares, as the car rental firm looks to cash in on a huge speculative rise in its share price since filing for bankruptcy late last month.
Categories: Business News
Zoom hits political turbulence in Washington, Beijing; lobbyists ready
Zoom Video Communications, whose remote meeting app made the obscure California company a hub for global communications during the coronavirus pandemic, now finds itself fighting political battles in Washington and Beijing.
Categories: Business News
World shares modestly higher as investors mull coronavirus, recovery outlook
Global equity markets rose in choppy trading on Friday as concerns triggered by the U.S. Federal Reserve's less-than-optimistic outlook for an economic recovery and a jump in U.S. coronavirus cases gave investors pause.
Categories: Business News
California examines Amazon's business practices: WSJ
California investigators are examining Amazon.com Inc's business practices as part of an inquiry into the company, the Wall Street Journal reported on Friday, citing people familiar with the matter.
Categories: Business News
U.S. insurers use lofty estimates to beat back coronavirus claims
U.S. property and casualty insurers have cast the coronavirus pandemic as an unprecedented event whose massive cost to small businesses they are neither able nor required to cover.
Categories: Business News
After jolt, investors still see stocks as long-term bet
An interruption to a searing rally gave a jolt to equity investors who had been getting used to weeks of steadily rising U.S. stocks.
Categories: Business News
Oil prices see weekly loss on virus resurgence fears
Oil was little changed on Friday and logged a first weekly decline since April as new U.S. coronavirus cases spiked, stoking fears of a second wave of the virus hitting fuel demand.
Categories: Business News
Exclusive: U.S. senators draft plan to reform new plane design approvals after 737 MAX crashes
Two key U.S. senators are circulating a bipartisan draft bill that would reform how the Federal Aviation Administration certifies new aircraft in the wake of two fatal Boeing 737 MAX crashes that killed 346 people.
Categories: Business News
Volkswagen, Audi on hold as Mexico's Puebla state not ready to reopen
Mexico's Puebla state, where German automaker Volkswagen and its luxury brand unit Audi have major plants, said it is not ready to reopen its automotive sector due to ongoing concerns about the spread of the coronavirus.
Categories: Business News
Coronavirus threatens Chicago's last remaining trading pits
Chicago brokers and traders worry the novel coronavirus will kill more of the city's once famous shout-and-gesture trading pits.
Categories: Business News
China's Tencent Music reports passive stake in Warner Music
China's Tencent Music Entertainment Group on Friday reported a 5.2% passive stake in Class A shares of Warner Music Group Corp, about a week after the world's third-largest recording label's debut on the Nasdaq.
Categories: Business News
'Persistent fragilities' ahead for households and businesses -Fed report
The Federal Reserve expects household finances and business balance sheets to suffer "persistent fragilities" as a result of the shock to economic activity arising from the coronavirus pandemic, the central bank said in a report to Congress on Friday.
Categories: Business News
U.S. consumer confidence rises; COVID-19, unemployment shadow lingers
U.S. consumer sentiment perked up in early June as households cheered the reopening of businesses and a surprise rebound in hiring, though they did not expect a significant improvement in the economy amid fears of a resurgence in COVID-19 infections.
Categories: Business News
American Airlines expects to halt cash burn by year-end, shares jump
American Airlines Group Inc said on Friday it expects to halt its daily cash burn by the end of 2020 thanks to cost-cutting measures and an improvement in travel demand, easing concerns about its short-term liquidity.
Categories: Business News
Fed frets about small business failures amid 'alarming' data
A large number of small U.S. businesses could fail during the coronavirus recession, the Federal Reserve said on Friday, slowing recovery and creating lasting damage to the world's largest economy.
Categories: Business News
Robinhood users' favorite stocks roar back after selloff
Shares of airlines, cruise lines and other companies that have been popular with investors on the Robinhood trading app shot higher on Friday, a day after stocks suffered their worst one-day market rout in about three months.
Categories: Business News
