Reuters Business News

Southwest Airlines Co Chief Executive Officer Gary Kelly said on Friday he expects a "brutal low-fare" environment when traffic returns after coronavirus-induced restrictions ease.

A gauge of global equities rebounded and crude oil rose on Friday after U.S. President Donald Trump ordered an end to Washington's special treatment of Hong Kong, a move investors welcomed as unlikely to jeopardize a trade accord with China.

A United Nations aviation-led task force is urging airlines, airports and countries to come up with a uniform approach to flying safely during the coronavirus pandemic, although it stopped short of providing specific requirements for the hard hit industry's recovery.

The Trump administration will study ways to safeguard Americans from the risks of investing in Chinese companies, U.S. president Donald Trump said on Friday, ratcheting up pressure on the firms to comply with U.S. accounting and disclosure rules.

Four U.S. senators, including a China hawk, urged the Federal Trade Commission on Friday to investigate allegations that the popular video app TikTok violated a consent decree protecting children's privacy.

Oil prices soared on Friday, with U.S. futures closing out May with record monthly gains, on hopes that the U.S.-China trade deal would remain intact and on falling crude production.

Chinese internet giant Tencent Holdings Ltd is in talks to invest $200 million in Warner Music Group, ahead of the record company's slated initial public offering next week, the Wall Street Journal reported https://www.wsj.com/articles/tencent-in-talks-to-buy-warner-music-stake-11590774885 on Friday.

Morgan Stanley is planning to start getting some traders to return to its New York headquarters in mid- to late-June, CNBC reported on Friday, citing people with knowledge of the situation.

The union representing workers at a meatpacking plant near Los Angeles where at least 153 employees have come down with COVID-19 called on Thursday for the plant's immediate closure, saying measures to control the outbreak were not working.

It took just three days to sell shares in JDE Peet's as investors facing a dearth of opportunities because of the coronavirus-induced slow-down rushed to secure a dose of the world's No. 2 maker of packaged coffee.

U.S. consumers cut spending by the most on record for the second straight month in April while boosting savings to an all-time high, and the growing frugality reinforced expectations the economy could take years to recover from the COVID-19 pandemic.

Chinese gaming company Beijing Kunlun Tech Co Ltd said on Friday that a U.S. national security panel approved the $620 million sale of popular gay dating app Grindr to an investor group called San Vicente Acquisition LLC.

Wall Street's main indexes retreated on Friday as investors were cautious ahead of a U.S. response to China's national security law on Hong Kong that threatens to take some shine off another month of strong gains for the stock market.

Morgan Stanley is planning to start getting some traders to return to its New York headquarters in mid- to late-June, CNBC reported on Friday, citing people with knowledge of the situation.

Wells Fargo & Co on Friday appointed Kevin Reen as chief risk officer (CRO) for its consumer lending arm and Bill Juliano to lead its operational risk management team as it revealed a new organizational structure to provide risk oversight.

Oil prices eased on Friday on fears of worsening Washington-Beijing relations and lacklustre U.S. fuel demand, but were still headed for sharp monthly gains.

Ryanair's Austrian carrier Lauda said on Friday it was closing down its Vienna base after failing to reach an agreement with unions on pay, and had already relocated many of its 15 planes to other bases.

U.S. consumers cut spending by the most on record for the second straight month in April while boosting savings to an all-time high, and the growing frugality reinforced expectations the economy could take years to recover from the COVID-19 pandemic.

Global stocks fell and safe havens such as bonds and the Japanese yen rallied on Friday as investors awaited Washington's response to China's national security law on Hong Kong amid rising tensions between the world's two biggest economies.

Aircraft makers are circling Brazil's Embraer weeks after Boeing ditched plans for a historic commercial aviation tie-up, people familiar with the matter said.