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Reuters Business News
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Updated: 4 years 22 weeks ago
Charging points surge ahead of electric car boom
The number of publicly accessible charging points for electric vehicles (EV) jumped 60% in 2019, the biggest increase in three years and outpacing sales of battery-powered cars, according to the International Energy Agency (IEA).
Categories: Business News
BP cuts up to $17.5 billion from assets' value with bleaker oil outlook
BP will write off up to $17.5 billion from the value of its assets after cutting its long-term oil and gas price forecasts, betting the COVID-19 crisis will cast a lasting chill on energy demand and accelerate a shift away from fossil fuels.
Categories: Business News
Exclusive: Mexico's oil hedge to be pricier, but government likely doing it anyway
Mexico will have to pay more for less coverage under its giant oil revenue insurance policy for 2021, but will likely go ahead anyway to avoid further damaging its financial standing with international investors, sources said.
Categories: Business News
Volkswagen in Mexico will begin sending workers back to plant on Tuesday
Volkswagen AG's Mexican unit will begin sending workers back to its plant in the central state of Puebla on Tuesday for "preparation and training eyeing a gradual start further ahead," the company said in a statement on Sunday.
Categories: Business News
SoftBank buybacks pick up in June; $4.7 billion spent in total
SoftBank Group Corp share buybacks accelerated in June, with a total of 499.9 billion yen ($4.66 billion) spent on buying back 107.7 million of its shares since March, a company filing showed on Monday.
Categories: Business News
EasyJet resumes flying with COVID-19 measures in place
EasyJet aircraft took to the skies for the first time since March 30 on Monday, as the British carrier resumed a small number of mainly domestic flights after weeks of lockdown.
Categories: Business News
Recovery rally has further to run, so buy stocks: Morgan Stanley
Stock market gains have further to run and investors are still under-pricing the scale of the world's coronavirus recovery, investment bank Morgan Stanley said in an outlook note.
Categories: Business News
China's factory output perks up but consumers stay cautious
China's factories stepped up production for a second straight month in May, as the country shook off the economic torpor of the coronavirus, although the weaker-than-expected gain suggested the recovery remained fragile.
Categories: Business News
Oil drops as new coronavirus outbreaks raise fuel demand concerns
Oil fell more than 2% on Monday, extending losses from last week, as new coronavirus infections hit China and the United States, raising the prospect that renewed outbreaks of the virus could weigh on the recovery of fuel demand.
Categories: Business News
Asian stocks, oil fall as second wave fears grow
Asian shares stumbled on Monday and oil prices slipped as fears of a second wave of coronavirus infections in Beijing sent investors scurrying for safe-havens while underwhelming data from China further weighed on sentiment.
Categories: Business News
Unilever to invest 1 billion euros in climate change fund over 10 years
Unilever Plc said on Monday it will invest 1 billion euros in a fund to invest in climate change projects and reduce to net zero greenhouse gas emissions from all its products by 2039, 11 years ahead of the Paris Agreement deadline.
Categories: Business News
Crunch time for China's robot startups as pandemic brings pain and opportunities
With glowing blue eyes and trusting feline features, a new robot cat by Chinese startup Elephant Robotics seems happily oblivious to the worries of CEO Joey Song as he shows it off at the company's lab in Shenzhen.
Categories: Business News
Systemic racism slows economic growth: Dallas Fed chief Kaplan
Systemic racism and high unemployment levels among black and Hispanic Americans create a drag on the U.S. economy, Dallas Federal Reserve President Robert Kaplan said on Sunday.
Categories: Business News
Factbox: What changes are companies making in response to George Floyd protests?
The corporate response to a wave of protests over the treatment of African Americans has included pledges to increase diversity, donations to civil rights groups and, in some cases, changes in policies or practices long sought by critics. Here is a sampling:
Categories: Business News
Wall Street Week Ahead: Investors bet bounce in value stocks will stick
As the U.S. economy begins to emerge from the sharp slowdown during the coronavirus pandemic, some fund managers have been drawn to value stocks, a sector that underperformed during the recent rally.
Categories: Business News
CVS joins Walmart in keeping multicultural beauty products out of locked cabinets
Drugstore chain CVS Health Corp joined Walmart Inc in announcing it will stop keeping beauty and personal care products designed for people of color in locked display cases, after the practice drew criticism online.
Categories: Business News
American Express JV gets final approval to launch operations in China
China's central bank has given the final nod to a network clearing license for an American Express joint venture, allowing it to be the first foreign credit card company to launch onshore operations in China.
Categories: Business News
U.S. eases criminal record provision in coronavirus business loan program
Federal authorities administering business payroll loans as part of U.S. coronavirus relief efforts on Friday eased rules prohibiting lending to business owners with criminal records, allowing some with no convictions in the past year to access funds.
Categories: Business News
U.S. regulator sides with FCA in Jeep trade case against Mahindra
A U.S. regulator ruled that India's Mahindra and Mahindra Ltd infringed upon the intellectual property rights of Fiat Chrysler Automobiles NV's (FCA) Jeep brand, barring the sale of the vehicles in question.
Categories: Business News
Bankrupt Hertz to seize on speculation frenzy with $1 billion stock sale
Hertz Global Holdings Inc said it won bankruptcy court approval on Friday to sell up to $1 billion in stock, capitalizing on a remarkable rally in its shares driven by speculators defying conventional market wisdom.
Categories: Business News
