Business & Finance News
Nestle SA is selling the North American business of its Buitoni pasta brand to private-equity firm Brynwood Partners, the Swiss food group said on Monday.
California-based power provider PG&E Corp said on Monday it plans to raise $5.75 billion from public offerings as it tries to emerge from Chapter 11 bankruptcy by the end of this month.
Volkswagen on Monday replaced Herbert Diess as chief executive of the VW brand and installed chief operating officer Ralf Brandstaetter to lead cost cutting efforts at the company’s largest plants in Germany.
U.S. stocks rose on Monday, with the Nasdaq hitting a record high for the second straight session, after a surprisingly upbeat jobs report last week raised bets of a swift recovery from a coronavirus-driven downturn.
A South Korean court on Tuesday denied an arrest warrant request for Samsung Group heir Jay Y. Lee after prosecutors accused him of accounting fraud and stock manipulation, the court spokesperson said in a statement.
Austria is granting Lufthansa’s Austrian Airlines unit a 450 million euro ($508 million) bailout that will protect Vienna as a transit hub and safeguard “the bulk” of the flag carrier’s 7,000 jobs, the government said on Monday.
The Nasdaq composite rose to a new record high on Monday, and looks on track to confirm that it has been in a bull market for two and a half months according to many definitions, after Wall Street’s nosedive on worries about coronavirus.
Volkswagen on Monday named Ralf Brandstaetter as the new chief executive (CEO) of its core VW car brand, replacing Herbert Diess, who retains his title as head of Volkswagen Group, the carmaker said.
A gauge of global equity markets rose on Monday on hopes of a fast recovery from the coronavirus economic slump while oil slid after Saudi Arabia said an extension of output cuts by producer nations would not include extra cuts by three Gulf countries.
The U.S. economy ended its longest expansion in history in February and entered recession as a result of the coronavirus pandemic, the private economics research group that acts as the arbiter for determining U.S. business cycles said on Monday.
A merger between AstraZeneca and Gilead Sciences Inc is unlikely due to significant political hurdles, Wall Street analysts said on Monday after a Bloomberg report that the British drugmaker last month had contacted its U.S. rival about a deal.
Wall Street’s main indexes rose on Monday, building on last week’s sharp gains after a surprisingly upbeat jobs report raised bets of a swift recovery from a coronavirus-driven downturn.
Dunkin’, a unit of Dunkin’ Brands Group Inc , said on Monday its franchisees are seeking to hire up to 25,000 workers as it prepares for higher demand, with U.S. states reopening after months-long lockdowns to contain the spread of the novel coronavirus.
U.S. consumers felt slightly more optimistic about their finances and job security in May as businesses began to reopen and rehire workers following the easing of coronavirus-related restrictions, according to a survey released on Monday by the New York Federal Reserve.
Elanco Animal Health secured EU antitrust clearance on Monday to buy Bayer’s veterinary drugs unit after pledging to sell some products to address competition concerns about the $7.6 billion deal.
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