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Updated: 4 years 23 weeks ago
US STOCKS-Wall St jumps, Nasdaq set for record closing high after surprise jobs report
* Indexes up: Dow 3.39%, S&P 500 2.81%, Nasdaq 2.16%
(Updates to late afternoon, changes dateline, byline)
Categories: Business News
UPDATE 1-United Airlines closing 3 of 4 international bases for flight crew
United Airlines Holdings Inc
is closing three out of four international bases for
flight attendants, according to an internal memo seen by
Reuters, saying it is not able to sustain the bases in the
current environment.
Categories: Business News
Canada postpones 5G spectrum auction citing COVID-19 - statement
Canada postponed its 3500 MHz 5G
spectrum auction process by six months to allow telecoms
companies to focus on providing essential services during
covid-19 pandemic, the innovation ministry said in a statement
on Friday.
Categories: Business News
AstraZeneca blood cancer drug shows signs of helping COVID-19 patients
AstraZeneca's cancer
drug Calquence has shown initial signs of helping hospitalised
COVID-19 patients get through the worst of the disease, as
researchers scramble to repurpose existing treatments to help
fight the deadly infection.
Categories: Business News
UPDATE 1-Facebook says it found no foreign interference targeting U.S. protests
Facebook Inc said on Friday it had
seen no evidence of coordinated foreign interference on its
platforms targeting U.S. anti-racism protests, after the U.S.
attorney general said foreign groups were trying to exacerbate
the situation.
Categories: Business News
Facebook says it found no foreign interference campaigns targeting U.S. protests
Facebook Inc said on Friday it had
not seen evidence of coordinated foreign interference targeting
the U.S. protests spurred by the police killing of George Floyd,
an unarmed black man.
Categories: Business News
UPDATE 1-Citigroup closes some branches, mostly in LA and Chicago, due to George Floyd protests
Citigroup Inc said on Friday it
would "proactively" close some branches and reduce hours at
others in light of protests around the country in response to
the death of George Floyd that have at times turned violent.
Categories: Business News
UPDATE 1-WeWork co-founder McKelvey to leave company by June end
WeWork co-founder Miguel McKelvey will
leave the company at the end of June, a spokesman for the
troubled office-sharing start-up said on Friday.
Categories: Business News
Shell expects minimal drilling impact, no production impact due U.S. Gulf storm
Royal Dutch Shell Plc
said on Friday there has been no impact to offshore oil
production from Tropical Storm Cristobal, but it expects a
minimal impact to drilling.
Categories: Business News
Ford re-evaluates office space in coronavirus world
Ford Motor Co is
re-evaluating how much office space it needs for white-collar
workers as restrictions put in place during the coronavirus
pandemic are eased and employees return to workplaces.
Categories: Business News
China's Dada Nexus shares rise 14% in U.S. market debut
Shares of online grocery firm Dada Nexus
Ltd jumped 14.3% in their stock market debut amid
intense scrutiny of Chinese companies pursuing U.S. listings.
Categories: Business News
METALS-Copper on track for its biggest weekly gain since September 2018
Copper prices surged on Friday to
the highest in 13 weeks as an unexpected increase in U.S.
employment in May fuelled hopes of a revival of global economic
activity.
Categories: Business News
UPDATE 1-U.S. will allow Chinese passenger carriers two flights per week
The U.S. Transportation
Department said on Friday it will allow Chinese passenger air
carriers to operate two flights per week after Beijing said it
would ease coronavirus restrictions to allow in more foreign
carriers.
Categories: Business News
GLOBAL MARKETS-Equities surge, bonds tumble on surprise U.S. jobs gains
An unexpected jump in U.S.
employment sent world equities surging on hopes that the global
economy has started to recover from the coronavirus pandemic,
pulling investors out of perceived safe havens like government
bonds and gold.
Categories: Business News
Legend Biotech shares jump nearly 61% in U.S. market debut
Shares of Legend Biotech, a cell
therapy unit owned by Hong Kong-listed Genscript Biotech
, jumped nearly 61% in their stock market debut,
signaling strong investor appetite for new listings.
Categories: Business News
Turkish cenbank decides to reallocate part of rediscount credits
The Turkish Central Bank said
on Friday it will reallocate 20 billion lira ($2.95 billion) of
a previously disclosed 60 billion lira rediscount credit
facility as advance loans against investment commitment.
Categories: Business News
UPDATE 2-Brazil overtakes Mexico in auto production in pandemic
Brazil produced
more cars than Mexico in May, reversing normal patterns as Latin
America's top carmaking countries slowly restarted auto
factories in the face of the coronavirus crisis.
Categories: Business News
Citigroup closes some branches due to George Floyd protests
Citigroup Inc said on Friday that
it would proactively close some branches and reduce hours at
others in light of protests around the country in response to
the death of George Floyd that have at times turned violent.
Categories: Business News
UPDATE 1-Airbus warns it may sue airlines over undelivered jets -paper
A stand-off between airplane
manufacturers and airlines over the coronavirus crisis is
intensifying after Airbus signalled it would sue
airlines that refuse to honour contracts.
Categories: Business News
