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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 22 weeks ago
All three Detroit automakers had workers test positive for COVID-19 since plants reopened
In the week since U.S. auto factories reopened after coronavirus lockdowns, workers at all three Detroit automakers have tested positive for COVID-19 but only Ford Motor Co has temporarily closed plants.
Categories: Business News
Ackman says portfolio is up as much as 27%, sold Berkshire recently
Billionaire investor William Ackman told investors on Wednesday that his funds have gained as much as 27% this year and that the stocks he already owns are still cheap after the coronavirus sparked a historic market sell off in March.
Categories: Business News
U.S. mortgage applications rise for sixth straight week
U.S. applications for home mortgages jumped last week, in a sixth straight weekly increase, suggesting the housing market could lead the economy's recovery from the novel coronavirus crisis even as high unemployment is expected to linger.
Categories: Business News
Boeing cutting more than 12,000 U.S. jobs with thousands more planned
Boeing Co said Wednesday it was eliminating more than 12,000 U.S. jobs, including involuntary layoffs of 6,770 U.S. workers as the largest American planemaker restructures in the face of the coronavirus pandemic.
Categories: Business News
Oil slides on U.S.-China tensions, doubts about Russian output cuts
Oil futures tumbled on Wednesday after U.S. President Donald Trump said he was working on a strong response to China's proposed security law in Hong Kong and as some traders doubted Russia's commitment to deep production cuts.
Categories: Business News
Goldman Sachs president says bank on track to meet growth goals
Goldman Sachs Group Inc President and Chief Operating Officer John Waldron said Wednesday that the bank remains on track to achieve its medium and long term growth targets despite the economic shocks caused by the novel coronavirus.
Categories: Business News
Hershey says mint, gum sales hit as lockdowns restrict social gatherings
Hershey Co said on Wednesday sales of gums and mints have taken a hit as social distancing protocols spurred by the COVID-19 pandemic discouraged people from participating in gatherings.
Categories: Business News
Dollar steadies against euro; yuan slips on U.S.-China tensions
The dollar steadied against the euro on Wednesday even as the common currency remained supported by news of a proposal for an economic recovery package to help the euro zone region recover from the coronavirus pandemic.
Categories: Business News
Nokia veteran Sari Baldauf takes over as 5G battle rages
Sari Baldauf took over as chairwoman of telecoms equipment maker Nokia on Wednesday, succeeding Risto Siilasmaa who chaired the Finnish firm for eight years.
Categories: Business News
Euro, stocks retreat from rally on EU stimulus plan
The euro retreated from near two-month highs and equity markets wavered on Wednesday even as the European Union unveiled a 750 billion euro ($823 billion) recovery fund that helped offset concerns about unrest in Hong Kong over Beijing's proposed security laws.
Categories: Business News
Italy's RCS says court ruled 2013 sale to Blackstone valid, may still win damages
Milan's Arbitral Tribunal has judged that the 2013 sale of RCS' headquarters to Blackstone Group was valid but found that the purchaser's behaviour may entitle the Italian publisher to compensatory damages, RCS said late on Tuesday.
Categories: Business News
Online sales surge helps Ralph Lauren recover in China
Ralph Lauren Corp said on Wednesday a surge in online shopping was helping it get back on track in China and putting it on course for a recovery from the financial damage wrought by the COVID-19 lockdowns in other markets as well.
Categories: Business News
Why U.S. energy CEOs will get big payouts despite oil meltdown
National Oilwell Varco Inc (NOV) has had a rough few years: Since 2017, the Houston company, whose drilling equipment is in major oilfields worldwide, has lost two-thirds of its value, costing shareholders a combined $9 billion.
Categories: Business News
Exclusive: Google faces antitrust case in India over payments app - sources
India's antitrust body is looking into allegations that Alphabet Inc's Google is abusing its market position to unfairly promote its mobile payments app in the country, five sources familiar with the case told Reuters.
Categories: Business News
Administrators deny South African Airways set to start flying
Administrators at South African Airways (SAA) said on Wednesday the state-owned airline was not preparing to resume domestic flights, rejecting a company statement from a day earlier and underlining conflicting visions of its future.
Categories: Business News
Renault and Nissan rule out merger as they unveil survival plan
Renault , Nissan Motor Co and Mitsubishi Motors Corp ruled out a merger on Wednesday and instead said they would cooperate more closely on vehicle development to slash costs and salvage their troubled alliance.
Categories: Business News
Factbox: Renault and Nissan's plan to rebuild their alliance
The automaking alliance of Renault SA , Nissan Motor Co and Mitsubishi Motors Corp outlined a new strategy on Wednesday whereby the strongest partner takes the lead in areas such as new technologies and parts procurement.
Categories: Business News
Hong Kong lines up MSCI derivatives launch amid doubts on city's future
Hong Kong's exchange is launching derivatives with index provider MSCI in a deal that hurts rival Singapore and boosts its global appeal amid U.S. warnings that Chinese pressure on the city’s autonomy threatens its future as a financial hub.
Categories: Business News
Ryanair says holiday bookings surge, sees Britain dropping quarantine
Ryanair expects Britain to join European nations in dropping COVID-19 quarantine plans in the coming weeks, Chief Executive Michael O'Leary said in an interview on Wednesday, reporting a "big surge" in holiday bookings from the country.
Categories: Business News
China's Chery Auto plans to sell cars in EU, United States: chairman
China's Chery Automobile, which has a manufacturing partnership with Jaguar Land Rover (JLR) , is planning to sell its own-branded cars in the European Union and United States for the first time, its chairman said.
Categories: Business News
