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Reuters Business News
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Updated: 4 years 22 weeks ago
Israel taps local desalination firm IDE over Hong Kong rival
Israel on Tuesday chose local company IDE Technologies over a Chinese-linked rival to build the country's largest desalination plant to tackle water shortages in one of the driest parts of the world.
Categories: Business News
Macau gambling king Stanley Ho dies aged 98
Macau gambling king Stanley Ho, who built a business empire from scratch in the former Portuguese colony and became one of Asia's richest men, died peacefully at the age of 98, his family confirmed on Tuesday.
Categories: Business News
Korean prosecutors question Samsung heir in succession-related probe
Samsung Group heir Jay Y. Lee was questioned on Tuesday by prosecutors about a controversial 2015 merger and alleged accounting fraud that they said may have helped him advance his succession-planning agenda at the country's top conglomerate.
Categories: Business News
World shares reach 10-week high, S&P 500 eyeing 3000
World shares forged ahead on Tuesday and commodity markets drove higher as well, as investors disregarded Sino-U.S. tensions to focus on more stimulus in China and a re-opening world economy.
Categories: Business News
Oil prices climb as faith in supply cuts grows
Oil prices rose on Tuesday, supported by growing confidence that producers are following through on commitments to cut crude supplies while fuel demand picks up with more cars back on the road as coronavirus lockdowns ease.
Categories: Business News
Take Five: Coronavirus vaccine race is on
U.S. President Donald Trump has put his faith in anti-malarial drug hydroxychloroquine to ward off COVID-19, but governments and investors are focusing on a vaccine. Without one, it's unlikely economic activity can resume fully.
Categories: Business News
Lufthansa unit Eurowings to cut a third of head-office staff
Eurowings, the low-cost airline owned by Lufthansa , said it would cut a third of the jobs at its headquarters as part of wider efforts to return the German airline group to profitability after a major state bailout.
Categories: Business News
Uber cuts 600 jobs in India as lockdown hits business
Uber Technologies Inc will cut around 600 jobs in India as part of its plans to cut 23% of its global workforce, as the company navigates a lockdown that has brought businesses in the country to a grinding halt.
Categories: Business News
U.S. stock futures rise 2% to 3,012 points
U.S. stock futures rose 2% on Tuesday and breached a major chart barrier as investors brushed aside China-U.S. trade tension and braced for a re-opening of the world economy.
Categories: Business News
Tencent to invest $70 billion in 'new infrastructure'
Chinese tech giant Tencent Holdings will invest 500 billion yuan ($70 billion) over the next five years in technology infrastructure including cloud computing, artificial intelligence and cybersecurity, the company said Tuesday.
Categories: Business News
Insurer AXA to pay out to restaurants after court ruling
AXA said on Tuesday it would meet the bulk of claims from some restaurant owners after a Paris court ruled last week the French insurer should pay one owner two-months' worth of coronavirus-related revenue losses.
Categories: Business News
Macau gambling king Stanley Ho's family confirms his death at age 98
Macau gambling king Stanley Ho, who built a business empire from scratch in the former Portuguese colony and became one of Asia's richest men, died peacefully at the age of 98, his family confirmed on Tuesday.
Categories: Business News
Casino king Stanley Ho: the man who built the gambling hub of Macau
Macau gambling king Stanley Ho, who built a business empire from scratch in the former Portuguese colony and became one of Asia's richest men, died on Tuesday at the age of 98.
Categories: Business News
Latin America's largest airline LATAM files for U.S. bankruptcy protection
Latin America's largest airline LATAM Airlines Group SA said on Tuesday the company and its affiliates in Chile, Peru, Colombia, Ecuador and the U.S. have filed for Chapter 11 bankruptcy protection in the United States.
Categories: Business News
Aston Martin confirms Mercedes boss Moers will replace CEO Palmer
Aston Martin confirmed on Tuesday that Tobias Moers, CEO of Mercedes-AMG, would become chief executive on August 1, replacing Andy Palmer who stepped down on Monday.
Categories: Business News
'This could be the one that gets me,' says oilfield service veteran
Tim Harris was preparing to relocate for an assignment with energy services firm Halliburton Co for the fifth time in 15 years when his career came to a halt.
Categories: Business News
Samsung Group heir questioned by prosecutors over contentious 2015 deal
Samsung Group heir Jay Y. Lee on Tuesday was summoned and questioned by prosecutors over a controversial 2015 merger of two of the group's affiliates, Yonhap News Agency said.
Categories: Business News
Japan shares hit 10-week peak, S&P 500 tests 3,000
Asian shares forged ahead on Tuesday while U.S. stock futures challenged a major chart barrier as investors looked past Sino-U.S. trade tensions to more stimulus in China and a re-opening world economy.
Categories: Business News
Chile's Latam Airlines Group hires PJT Partners to restructure debt: report
Chile's Latam Airlines Group SA has hired U.S. investment boutique PJT Partners to explore debt restructuring options that may include bankruptcy protection filings in three countries, Brazilian newspaper O Estado de S. Paulo reported late on Monday.
Categories: Business News
Michelin says its Mexican plants have resumed operations
French tire maker Michelin resumed operations at its two plants in Mexico on Monday, saying that activity will be staggered at first.
Categories: Business News
