Business & Finance News
Oil prices rose on Friday after an unexpected fall in the May U.S. jobless rate and OPEC’s decision to bring forward to Saturday discussions on whether to extend record production cuts.
President Donald Trump on Friday celebrated a stunning U.S. employment report that showed the country gained more than 2.5 million jobs last month during the thick of the coronavirus pandemic, and predicted the battered economy will have recovered by 2021.
Britain’s high-street restaurant chains Bella Italia, Cafe Rouge and Las Iguanas could see around 30% of their outlets cut, two sources told Reuters, as their owner pushes ahead with talks to sell the businesses stricken by the COVID-19 crisis.
Faced with a partial reopening of their branches from July, many high street restaurant businesses in Britain risk disappearing from the high street or at least changing hands, as private equity owners decide whether to raise billions of dollars to snap up what they see as bargains.
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 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.
U.S. stock indexes jumped on Friday, with the Nasdaq Composite less than 1% away from a record high, after a closely watched report showed surprise job additions in May, lending weight to hopes of a faster economic rebound from a coronavirus-led slump.
Volkswagen has completed an internal report into how it came to publish a racist advert, the German carmaker said on Friday, adding that its findings will be released once its management board has reviewed the matter.
U.S. Vice President Mike Pence said the jobs report released on Friday was a sign the U.S. economy was beginning to recover from the deep hit caused by the novel coronavirus outbreak, but said President Donald Trump is still in favor of a payroll tax cut.
The owner of British Airways is considering a legal challenge to Britain’s quarantine plan, as relations between airlines and the government are frayed by steps to curb the coronavirus pandemic.
Gautam Chawla is joining Barclays from Citigroup Inc , a statement from the British lender said on Friday, continuing the recent spate of job changes among senior financiers covering the insurance industry.
An unexpected jump in U.S. employment sent world equities surging on hopes that the global economy has started to recover from the coronavirus pandemic, pulling investors out of perceived safe havens like government bonds and gold.
WeWork will invest $100 million in its Indian business as the office-sharing startup looks to ride out the coronavirus crisis, which has kept people indoors and away from offices.
U.S. stocks jumped at the open on Friday after a closely watched report showed a surprise drop in the U.S. unemployment rate, lending weight to hopes of a faster economic rebound from a coronavirus-driven slump.
Canadian plane and train maker Bombardier Inc said on Friday it would cut 2,500 jobs, or about 11% of the workforce at its aviation unit, as the coronavirus pandemic’s crushing impact on the air industry adds to its long list of problems.
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