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Reuters Business News
Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals.
Updated: 4 years 23 weeks ago
Wall Street closes sharply higher on signs of economic rebound
Wall Street rallied broadly on Wednesday with the Nasdaq approaching record highs as signs of an economic recovery from mandated shutdowns helped investors look beyond U.S. social unrest and pandemic worries.
Categories: Business News
Warner Music strikes a chord as shares pop on Nasdaq debut
Warner Music Group Corp's stock popped 8% on its Nasdaq debut on Wednesday, after the world's third-largest recording label sold shares in its $1.9-billion initial public offering towards the higher end of its target.
Categories: Business News
Amazon leases 12 aircraft to bolster air cargo fleet
Amazon.com Inc said on Wednesday it leased 12 Boeing 767-300 converted cargo aircraft from Air Transport Services Group Inc , bringing its total fleet to more than 80, as it pushes for faster delivery to meet a surge in online orders.
Categories: Business News
Uber signals recovery in rides as lockdown restrictions ease
Uber Technologies Inc said on Wednesday trip requests were gradually picking up, but still remained significantly below prior year levels, as several countries start to lift coronavirus-led restrictions.
Categories: Business News
Shares, euro climb on robust risk appetite as lockdowns ease
Global equity markets rallied and the euro rose against the dollar on Wednesday, both for a seventh straight session, indicating strong risk appetite as easing lockdowns and hopes for more monetary stimulus boosted investor confidence.
Categories: Business News
U.S. House panel says opposes any U.S. trade deal with Brazil
The U.S. House Ways and Means Committee said on Wednesday it opposed the Trump administration's plan to expand economic ties to Brazil under the leadership of President Jair Bolsonaro, given its record on human rights and the environment.
Categories: Business News
Bacardi family member fights for reshuffle at spirits group
Monika Bacardi, a member of the family owning the maker of the eponymous rum, said her Liechtenstein-based trust was blocking her attempt to reshuffle the management team at the spirits group, uncovering a fight inside the family.
Categories: Business News
U.S. labor market stabilizing as layoffs abate
U.S. private payrolls fell less than expected in May, suggesting layoffs were abating as businesses reopen, though the overall economy's recovery from the COVID-19 pandemic will be slow.
Categories: Business News
Oil moves higher, hovers below $40 as doubts emerge over next step on OPEC cuts
Oil ended slightly higher on Wednesday but remained below the session's early highs above $40 a barrel, the highest since March, retreating as doubts emerged about the timing and scale of a potential extension to the pact between OPEC and its allies to cut crude supplies.
Categories: Business News
Delta will extend social distancing through Sept. 30
Delta Air Lines Inc said on Wednesday it will extend social distancing measures on its flights through Sept. 30 and will block the selection of middle seats and cap seating in every cabin.
Categories: Business News
U.S. senators to announce sanctions bill on Russia's Nord Stream 2 gas pipeline
Five U.S. senators are to announce legislation on Wednesday to expand sanctions on Russia's Nord Stream 2, a natural gas pipeline that would increase exports to Germany but is opposed by many in Washington who say it would tighten Moscow's political and economic grip on Europe.
Categories: Business News
U.S. indicts Pilgrim's Pride Corp CEO for alleged chicken price-fixing
The chief executive of Pilgrim's Pride Corp, a major U.S. poultry company, was indicted along with three other current and former industry executives on charges of seeking to fix the price of chickens, the Justice Department said on Wednesday.
Categories: Business News
Trump administration to bar Chinese passenger carriers from flying to U.S.
President Donald Trump's administration on Wednesday barred Chinese passenger carriers from flying to the United States starting on June 16 as it pressures Beijing to let U.S. air carriers resume flights amid simmering tensions between the world's two largest economies.
Categories: Business News
Exclusive: Ex-Enron CEO Skilling launching new digital marketplace for oil investors - sources
Former Enron CEO Jeffrey Skilling, released last year after a 14-year prison term stemming from the energy firm's collapse, is raising funds to launch a digital marketplace catering to professional oil and gas investors, according to four people familiar with the matter.
Categories: Business News
Virus-hit U.S. state revenue could start slow recovery in third quarter: analysts
U.S. state tax revenue, which plunged due to the economic fallout from the coronavirus pandemic, could start to slowly recover this summer as long as the outbreak does not undergo a resurgence, analysts said.
Categories: Business News
Apple must face U.S. shareholder lawsuit over CEO's iPhone, China comments
A federal judge said Apple Inc must face part of a lawsuit claiming it fraudulently concealed falling demand for iPhones, especially in China, leading to tens of billions of dollars in shareholder losses.
Categories: Business News
New U.S. restrictions on 33 Chinese firms and institutions take effect June 5
The U.S Commerce Department said on Wednesday that new restrictions on 33 Chinese firms and institutions it announced last month will take effect Friday.
Categories: Business News
Snap removes Trump account from curated promotional section
Snap Inc said it would no longer promote U.S. President Donald Trump's account in Snapchat's Discover section, saying his inflammatory comments last week made the account ineligible for the curated section where users explore new content.
Categories: Business News
Citigroup chief compliance officer Mark Carawan retires
Citigroup Inc said on Wednesday its chief compliance officer Mark Carawan is retiring after eight years at the firm, effective June 8.
Categories: Business News
SoftBank launches $100 mln fund investing in 'people of colour'
SoftBank Group Corp is launching a $100 million fund to invest in "companies led by founders and entrepreneurs of colour", in the latest corporate action as protests roil the United States.
Categories: Business News
