Reuters Business News

The Federal Reserve on Monday launched its Main Street Lending Program, the most complex program undertaken yet by the U.S. central bank to help keep the backbone of the economy from buckling under the strains of the coronavirus pandemic.

Embraer SA said on Monday it had secured a $600 million loan, partly backed by Brazil's government, at the same time as a key executive departed the planemaker weeks after a potentially transformational deal with Boeing Co fell apart.

Wall Street closed higher on Monday following an announcement by the U.S. Federal Reserve regarding its corporate bond purchasing program that boosted investor confidence, which had been wavering amid a spike in new COVID-19 cases.

General Motors Co's top executive struck an optimistic note on Monday about U.S. new vehicle demand despite the coronavirus pandemic, and the ability to sell electric vehicles at a profit, especially in China.

Proxy adviser Institutional Shareholder Services Inc (ISS) on Monday urged Tesla Inc shareholders to vote against the re-election of chairwoman Robyn Denholm at the electric carmaker's annual meeting next month.

The New York Stock Exchange will allow a limited number of market makers to return to its trading floor on Wednesday, nearly three months after closing it due to the coronavirus pandemic.

Apple Inc on Monday released the results of a study that found its App Store spurred $458 billion in sales last year from categories such as retail of physical goods, ride-hailing and advertising from which the iPhone maker takes no commission.

Planemaker Embraer said on Monday it will receive a $600 million loan, financed partly by Brazil's government, to help the company weather the coronavirus crisis that has ravaged the air travel industry.

JPMorgan Chase & Co plans to start returning more traders and sales staff to its Manhattan headquarters starting next week with volunteers, a source familiar with the matter said on Monday.Roughly 20% of the bank's sales and trading staff have worked at its New York office throughout the coronavirus pandemic. Starting on June 22, the bank will gradually increase its in-office staff to as much as 50% by mid-July, the source said.

A gauge of global equities rebounded on Monday after the Federal Reserve widened its program of buying corporate debt, while crude oil rose on signs fuel demand is recovering and as investors grapple with how to assess the economic reopening.

Oil prices rose more than 2% on Monday as signs that fuel demand was recovering, while OPEC+ members were complying with a production cut deal, outweighed fears that new coronavirus infections could further slow the global economy.

The United States on Monday confirmed a Reuters report that it will amend its prohibitions on U.S. companies doing business with China's Huawei [HWT.UL] to allow them to work together on setting standards for next-generation 5G networks.

Electric carmaker Tesla Inc is negotiating possible incentives with a Texas county that could bring a new auto assembly plant to the area near Austin, the state capital, the Austin American-Statesman reported on Monday.

British Airways is fighting for its survival and has acted lawfully, Willie Walsh, the chief executive of the airline's owner IAG said on Monday, in a terse response to lawmakers who heavily criticised its treatment of employees.

United Airlines said on Monday it is pledging its MileagePlus frequent flyer program for a new $5 billion loan aimed at further buffering its liquidity, even as its cash burn rate slows thanks to a steady improvement in demand.

Wall Street jumped on Monday following an announcement by the U.S. Federal Reserve regarding its corporate bond purchasing program that boosted investor confidence, which had been wavering amid a spike in new COVID-19 cases.

United Auto Workers (UAW) President Rory Gamble will meet Matthew Schneider, the U.S. attorney for the Eastern District of Michigan, at the end of the month in Detroit to begin negotiations for reforming the union, UAW said on Monday.

Ruling against environmentalists, the U.S. Supreme Court on Monday decided that the federal government has the authority to allow a proposed $7.5 billion natural gas pipeline to cross under the popular Appalachian Trail in rural Virginia.

State investigators in both California and Washington are examining Amazon's business practices, two newspapers reported, citing people familiar with the matter.

Lufthansa said on Monday it was seeking to strike agreements with worker representatives by June 22 on how to make cuts equivalent to 22,000 full-time positions.