Business & Finance News
U.S. stocks jumped at the open on Tuesday after a record rise in May retail sales revived hopes of a swift post-pandemic economic rebound, with sentiment also lifted by data showing reduced COVID-19 death rates in a trial of a generic steroid drug.
Truck- and construction equipment maker AB Volvo plans to cut its white-collar workforce by around 4,100 positions during the second half of 2020, it said in a statement on Tuesday, citing the effects of the COVID-19 pandemic.
U.S. retail sales increased by the most on record in May after two straight months of sharp declines as businesses reopened, offering more evidence that the recession triggered by the COVID-19 pandemic was over or drawing to an end.
Four senior executives are leaving Embraer SA , in addition to its commercial aviation chief, in the wake of a failed deal with Boeing Co and as a new chief executive reassess the jet maker’s path forward, three sources said.
U.S. retail sales experienced a record rise in May as 2.5 million Americans went back to work and people began moving about more freely, although the rebound retraces only a fraction of the historic drops in March and April amid the coronavirus lockdowns.
Airlines are urging aviation regulators to extend a waiver on airport slot rules as they struggle to overcome the coronavirus crisis, their main international body said on Tuesday.
U.S. stock futures rose sharply on Tuesday after data showed a record jump in retail sales in May, far above expectations, as Americans resumed spending after weeks of lockdown, underscoring views that the worst of the coronavirus impact was over.
Amazon.com Inc on Tuesday launched an artificial intelligence-based tracking system to enforce social distancing at its offices and warehouses to help reduce any risk of contracting the new coronavirus among its workers.
EU trade chief Phil Hogan will limit public appearances after he put himself forward as a possible candidate to become the next head of the World Trade Organization, the European Commission said on Tuesday.
Apple on Tuesday found itself the target of two EU antitrust investigations into its App Store and Apple Pay as the bloc turned up the heat on online gatekeepers over alleged anti-competitive business practices aimed at blocking rivals.
French carmaker Renault plans to cut 1,500 engineering jobs in France, a trade union source told Reuters on Tuesday.
U.S. health insurers may balk at covering tests that look for coronavirus antibodies in some cases, arguing that employers or the government should foot a bill expected to run into billions of dollars.
When the U.S. government announced a multibillion-dollar bailout of struggling small businesses amid the coronavirus pandemic, one of the top U.S. law firms sensed an opportunity.
U.S. stock index futures jumped on Tuesday on hopes that aggressive fiscal and monetary stimulus would kick start an economy crushed by the COVID-19 pandemic, with investors also expecting a record rebound in May retail sales.
Apple on Tuesday found itself the target of two EU antitrust investigations into its App Store and Apple Pay as regulators said its terms and conditions and restrictions may violate the bloc’s competition rules.
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