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Reuters Business News
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Updated: 4 years 23 weeks ago
Lufthansa vows company revamp as losses balloon
Lufthansa vowed to step up up restructuring measures after posting a first-quarter net loss of 2.1 billion euros ($2.35 billion), days after agreeing a state bail-out amid the fallout from the coronavirus pandemic.
Categories: Business News
Oil gains, with Brent above $40, as hopes rise for output cuts, recovery
Oil rose on Wednesday, with Brent above $40 for the first time since March, as optimism mounted that major producers will extend output cuts and a recovery from the coronavirus pandemic will spur fuel demand.
Categories: Business News
Virgin Australia bidders get 10-day extension for final offers, source says
Virgin Australia Holdings Ltd's administrator has given final bidders Bain Capital and Cyrus Capital Partners until June 22 to lodge binding offers, an extension of 10 days from the original date, a person with knowledge of the matter said on Wednesday.
Categories: Business News
World stocks jump to 3-month high as recovery hopes outweigh looming risks
Global shares vaulted to a near three-month high on Wednesday as hopes of more stimulus and further easing in social restrictions around the world outweighed caution over a host of worries from the coronavirus to growing U.S. civil unrest.
Categories: Business News
BlackRock focuses on China credit, oil and travel in Asia
The world's biggest asset manager, BlackRock Inc, called out oil stocks, domestic tourism and debt in China and India as investment opportunities in its Asia outlook on Wednesday.
Categories: Business News
TUI strikes compensation deal with Boeing, delays 737 MAX orders
TUI Group , Europe's biggest travel company, said it had struck a deal with aircraft maker Boeing for compensation and slower delivery of the 737 MAX plane, helping its finances during the coronavirus pandemic.
Categories: Business News
As Asia's tropical storm season arrives, grounded airplanes at risk of damage
Airlines, airports and insurers across Asia are bracing for the prospect of unusually high damage as the region's tropical storm season begins, as hundreds of aircraft grounded by the coronavirus pandemic can't be moved easily.
Categories: Business News
Big in China and tiny in the U.S., Fast Retailing seen weathering pandemic
The coronavirus pandemic is shredding the global apparel industry, stripping hundreds of billions of dollars from sales and thrusting big names like J.Crew into bankruptcy protection.
Categories: Business News
Google faces $5 billion lawsuit in U.S. for tracking 'private' internet use
Google was sued on Tuesday in a proposed class action accusing the internet search company of illegally invading the privacy of millions of users by pervasively tracking their internet use through browsers set in "private" mode.
Categories: Business News
U.S. FAA chief to testify at Senate hearing on Boeing 737 MAX
U.S. Federal Aviation Administration chief Steve Dickson will testify June 17 before a U.S. Senate panel on certification of the Boeing 737 MAX that was involved in two fatal crashes in five months that killed 346 people.
Categories: Business News
Wells Fargo stops giving loans to most independent car dealerships
Wells Fargo & Co will stop providing loans to a majority of its independent auto dealer customers due to the economic challenges brought on by the COVID-19 pandemic, a spokeswoman said on Tuesday.
Categories: Business News
Tech advocacy group's lawsuit says Trump's order on social media is unconstitutional
An advocacy group backed by the tech industry sued President Donald Trump on Tuesday over his executive order that would weaken a law protecting online platforms including social media companies that label or fact-check his posts.
Categories: Business News
After Facebook staff walkout, Zuckerberg defends no action on Trump posts
Facebook CEO Mark Zuckerberg told employees on Tuesday that he stood by his decision not to challenge inflammatory posts by U.S. President Donald Trump, refusing to give ground a day after staff members staged a rare public protest.
Categories: Business News
Oil hits three-month high over hopes for output cuts
Oil rose on Wednesday to a near three-month high amid optimism that major producers will extend production cuts as the world recovers from the coronavirus pandemic.
Categories: Business News
Asian stocks set to gain as stimulus hopes support risk appetite
Asian stocks were poised to follow the global rally on Wednesday as hopes of more government stimulus bolstered riskier assets and overshadowed a host of other worries from the coronavirus to Hong Kong and growing U.S. civil unrest.
Categories: Business News
Zoom nearly doubles revenue forecast on remote-work boost, but costs rising
Zoom Video Communications Inc nearly doubled its expectations for annual sales on Tuesday, driven by a surge in users as more people work from home and connect with friends online during coronavirus lockdowns.
Categories: Business News
Twitter names ex Google CFO Pichette as chair, Kordestani to stay on
Twitter Inc on Tuesday appointed Patrick Pichette, a former chief financial officer at Google, as the social network's board chairman, marking the first time in Twitter's history that an outsider will preside over the group.
Categories: Business News
Wall Street closes up on signs of economic rebound
A late-session rally pushed Wall Street to solid gains on Tuesday as market participants looked past widespread social unrest and pandemic worries to focus instead on easing lockdown restrictions and signs of economic recovery.
Categories: Business News
Rental fleet collapse drags down U.S. vehicle sales
The collapse in demand for new vehicles from U.S. rental car fleets hit automakers hard in May, even as consumer sales were stronger than expected as coronavirus stay-at-home orders began to ease.
Categories: Business News
Lyft says May rides jump 26% from prior month
Ride-hailing firm Lyft Inc said on Tuesday that rides on its platform rose 26% in May from the previous month helped by strong growth in cities where coronavirus-induced restrictions have been eased.
Categories: Business News
