Reuters Business News

Volkswagen must pay compensation to owners of vehicles with rigged diesel engines in Germany, a court ruled on Monday, dealing a fresh blow to the automaker almost five years after its emissions scandal erupted.

Nissan Motor would find it cheaper to invest in its Barcelona factory than to close it, a senior Spanish industry ministry official said on Monday, pegging the estimated cost of a shutdown at more than 1 billion euros ($1.1 billion).

Stocks edged higher on Monday after a survey showed German business morale rebounded in May, boosting optimism around economic re-openings, although caution prompted the dollar to snap a rare losing streak.

Aston Martin Chief Executive Andy Palmer is leaving the business as part of a management shake-up and will be replaced by Tobias Moers, CEO of Mercedes-AMG, a source familiar with the matter told Reuters on Sunday.

Japan will lift a state of emergency for Tokyo and remaining areas still facing restrictions on Monday, while the Nikkei reported a plan for new stimulus worth almost $1 trillion to help companies ride out the coronavirus pandemic.

A gauge of Asian stocks pared early gains on Monday amid souring relations between China and the United States, with Hong Kong shares extending losses on mounting fears about future stability in the city.

Great Wall Motor expects China's overall auto sales in the second half this year to return to the same level as last year, its president said, as the world's biggest auto market recovers from a coronavirus-driven low.

Japan is considering a fresh stimulus package worth over $929 billion that will consist mostly of financial aid programmes for companies hit by the coronavirus pandemic, the Nikkei newspaper said on Monday.

Lufthansa , which is in talks with the German government over a 9 billion euro ($9.8 billion) bailout, will resume flights to 20 destinations from mid-June, including some holiday hot-spots, a spokeswoman said on Sunday.

Aston Martin Chief Executive Andy Palmer is leaving the business as part of a shake-up, the Financial Times reported on Sunday.

More than four-fifths of publicly listed companies that received emergency small-business loans from the U.S. government have held onto them, sticking with a certification that they need the money, according to data from market research firm FactSquared.

Air France will have to "drastically" reduce its domestic air traffic in exchange for state loan guarantees, French Environment Minister Elisabeth Borne said on Sunday.

The more than a century old car rental firm Hertz Global Holdings Inc filed for bankruptcy protection on Friday after its business was decimated during the coronavirus pandemic and talks with creditors failed to result in much needed relief.

Jaguar Land Rover is in talks with the British government about a request for temporary state funding of more than 1 billion pounds ($1.22 billion), Sky News said on Saturday, a report the company said was inaccurate.

Investors are diversifying bets in the healthcare sector, as the rush to develop treatments for Covid-19 has driven up prices for some pharmaceutical stocks.

A group representing some of the largest U.S. employers has asked Congress for a year-long ban on mergers and acquisitions among hospitals and doctors groups that received government money to cope with the effects of the COVID-19 pandemic.

Freight-forwarder Kuehne+Nagel may cut more than 20,000 jobs, with warehouse workers most affected, as the coronavirus-caused economic crisis hits shipping, controlling shareholder Klaus-Michael Kuehne said in an interview.

An Uber customer on Friday asked a Manhattan federal judge to overturn an arbitration win for the company in a price-fixing case, arguing that the arbitrator only ruled in Uber's favor because he was scared.

A group of U.S. agencies on Friday asked the Federal Communications Commission (FCC) to reconsider its unanimous April 22 decision to allow Ligado Networks [MOSAV.UL] to deploy a low-power nationwide mobile broadband network, saying it could pose a threat to global positioning systems (GPS).

A range of business groups have made an 11th-hour appeal to U.S. President Donald Trump as he weighs whether to restrict temporary work visas, warning of negative economic consequences if he blocks the flow of skilled foreign workers into the United States.