Reuters Company News

French luxury goods group LVMH's $16.2 billion takeover of Tiffany & Co is looking less certain as the jeweler grapples with a deteriorating situation in the U.S. market brought on by a global pandemic and severe social unrest, fashion trade publication WWD reported on Tuesday.

Facebook CEO Mark Zuckerberg told employees on Tuesday that he stood by his decision not to challenge inflammatory posts by U.S. President Donald Trump, refusing to give ground a day after staff members staged a rare public protest.

Ride-hailing firm Lyft Inc said on Tuesday that rides on its platform rose 26% in May from the previous month, with strong growth from cities where coronavirus-induced restrictions have been eased.

The U.S. Food and Drug Administration has extended the review period for Novartis AG's multiple sclerosis drug ofatumumab by three months, the company said on Tuesday.

Federal Aviation Administration chief Steve Dickson will testify June 17 before a U.S. Senate panel on certification of the Boeing 737 MAX that was involved in two fatal crashes in five months that killed 346 people.

Twitter Inc said on Tuesday that it appointed Patrick Pichette as chair of the social network's board of directors, replacing Omid Kordestani. (Reporting by Munsif Vengattil in Bengaluru; Editing by Anil D'Silva)

Bell Canada on Tuesday chose Sweden's Ericsson to be its 5G network equipment supplier, while smaller rival Telus Corp picked Ericsson and Finland's Nokia Oyj, with Huawei continuing to face an uncertain future in the country.

NEW YORK, June 2 (LPC) - The New Mexico State Investment Council (SIC) fund is offering financing to in-state businesses, an alternative to federally funded loans for small and mid-sized companies that are heavy in requirements and often reserved for better-known borrowers.

World stock markets hit their highest levels since March and oil prices jumped on Tuesday as signs of a global economic recovery from the coronavirus pandemic offset concerns over the worst civil unrest in the United States in decades.

General Motors Co should emerge from the coronavirus pandemic with a permanently reduced cost base after it scrambled to reduce its cash burn to withstand a two-month shutdown in North American production as part of efforts to halt the spread of COVID-19, its top executive said on Tuesday.

* Indexes up: Dow 1.05%, S&P 0.82%, Nasdaq 0.59% (Updates with closing prices)

Zoom Video Communications Inc raised its full-year revenue forecast on Tuesday, riding on a surge in usage of its video conferencing platform as people turn to virtual meetings to stay connected and work remotely amid broader stay-at-home measures.

Bell Canada on Tuesday chose Sweden's Ericsson to be its 5G network equipment supplier, while smaller rival Telus Corp picked Ericsson and Finland's Nokia Oyj, with Huawei continuing to face an uncertain future in the country.

Venezuela's oil exports plummeted in May to their lowest level since 2003 as U.S. sanctions choked exports and two Mexican firms that had acted as intermediaries for Venezuelan crude sales stopped receiving oil, Refinitiv Eikon data and internal shipping documents from state-run energy company PDVSA showed.

* Indexes up: Dow 0.62%, S&P 0.38%, Nasdaq 0.09% (Updates to late afternoon, changes dateline, byline)

* FDA AUTHORIZES OPKO HEALTH CLINICAL TRIAL EVALUATING RAYALDEE IN COVID-19 PATIENTS

A California appeals court on Tuesday heard arguments in the first case that went to trial over allegations that Bayer AG's glyphosate-based weed killer Roundup causes cancer, resulting in a $289 million judgment against the company.

Spain's plans to tax tech companies' revenues does not discriminate against any country, a government source told Reuters on Tuesday after the United States opened a probe into such taxes or proposals by its various trading partners.

The U.S. Trade Representative's office said on Tuesday it was launching a "Section 301" investigation into digital services taxes adopted or under consideration by a number of U.S. trading partners - a move that could lead to new punitive tariffs.

The National Transportation Safety Board (NTSB) on Tuesday urged six major manufacturers to equip turbine-powered helicopters with crash-resistant systems to record data, audio and images, after former NBA star Kobe Bryant and eight others were killed in a helicopter crash in January.