Business & Finance News
The Nasdaq Composite on Friday became the first of the three major U.S. stock indexes to bounce back to a record high, recovering from a stunning coronavirus-led slump on growing hopes of a swift economic rebound.
A stunning U.S. jobs report on Friday put the Nasdaq within striking distance of its record high as investors flocked back to riskier assets on hopes of a swift economic rebound from the coronavirus-driven slump.
An asset quality review and a stress test on subsidiaries of UBS and Bank of America revealed no capital shortfall, the European Central Bank said on Friday, clearing a hurdle for the banks to relocate activities to Europe from Britain.
French luxury goods giant is not asking to renegotiate its $16.2-billion acquisition of U.S. jewelry chain Tiffany & Co after deliberating whether to do so, people familiar with the matter said on Friday.
The Trump administration has ordered Marriott International to wind down hotel operations in Communist-run Cuba, a company spokeswoman told Reuters, extinguishing what had been a symbol of the U.S.-Cuban detente.
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.
The U.S. economy unexpectedly added jobs in May after suffering record losses in the prior month, offering the clearest signal yet that the downturn triggered by the COVID-19 pandemic was probably over, though the road to recovery could be long.
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.
President Donald Trump on Friday celebrated a stunning U.S. employment report that showed more than 2.5 million jobs were added last month during the thick of the coronavirus pandemic, and predicted the battered economy will recover all of its lost jobs by next year.
The Brazilian real and Mexican peso have both rebounded strongly in recent weeks, but their rallies are starting to diverge with the peso running out of steam and the real gaining momentum.
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.
The U.S. Transportation Department said Friday it will allow Chinese passenger air carriers to operate two flights after Beijing said it would ease coronavirus restrictions to allow in more foreign carriers.
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.
Marriott International, the only U.S. company to run a hotel in Communist-run Cuba, the Four Points Sheraton in Havana, told Reuters it had been ordered by the Trump administration to wind down its operations by August 31.
U.S. stock indexes jumped on Friday, with the Nasdaq Composite less than 1% away from a record high, on hopes of a faster economic rebound from a coronavirus-led slump after data showed surprise job additions in May.
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