Business & Finance News
General Electric Co on Monday tapped the planemaking head of Brazil’s Embraer to run its key aircraft engines division on Monday, as the global aviation industry grapples with disruption caused by the COVID-19 pandemic.
The London Stock Exchange will not offer concessions to EU antitrust regulators reviewing its $27 billion bid for data and analytics company Refinitiv, two people familiar with the matter said, a move which will likely trigger a four-month probe.
Amazon.com Inc Chief Executive Officer Jeff Bezos is willing to testify before a House antitrust investigation into the market power of major tech companies, the New York Times reported https://www.nytimes.com/2020/06/15/technology/amazon-jeff-bezos-congress.html on Monday, citing a lawyer for Amazon who wrote to lawmakers.
French couture house Givenchy, owned by luxury goods giant LVMH and known for once dressing Hollywood stars such as Audrey Hepburn, said on Monday it had named Matthew Williams as its new creative director.
Manufacturing activity in New York State stabilized unexpectedly in June after three months of broad weakness brought on by coronavirus-related business shutdowns, and companies’ six-month outlook shot to a decade high, the New York Federal Reserve said on Monday.
The coronavirus crisis is likely to reverse a decade-long trend of shrinking equity supply that helped to power the longest bull market in history as cash-strapped companies are forced to raise equity instead of buying back their shares.
The Federal Reserve said on Monday it had opened registration for lenders interested in participating in its Main Street Lending Program, launching arguably 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.
Wall Street’s main indexes slumped with the S&P 500 falling below 3,000 points on Monday after a spike in new coronavirus cases in China and parts of the United States dampened hopes of a swift economic recovery.
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.
France’s PSA , the maker of Peugeot cars, on Monday said it would only transfer a small group of Polish workers to help out in a French plant where production is being increased, following a backlash over the knock-on effect for local jobs.
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.
Goldman Sachs Group Inc on Monday pledged an additional $250 million to fund the federal aid program to help businesses hurt by the COVID-19 pandemic.
U.S. stocks opened sharply lower on Monday as a resurgence in new coronavirus cases in China and parts of the United States dampened hopes of a swift economic revival that drove the Nasdaq to record highs last week.
Hungary is ready to give financial support to Audi to allow its Hungarian manufacturing plant to run at full capacity in the wake of the coronavirus pandemic, Prime Minister Viktor Orban was reported as saying on Monday as he visited the plant.
General Electric Co said on Monday David Joyce, the chief executive of the company’s aviation unit, would retire after 40 years with the industrial conglomerate, and would be succeeded by Embraer executive John Slattery.
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