Business & Finance News
Anhui Jianghuai Automobile Group (JAC Motors) said on Friday that German automaker Volkswagen AG agreed to buy 50% of its parent company Anhui Jianghuai Automobile Group Holding.
The union representing workers at a meatpacking plant near Los Angeles where at least 153 employees have come down with COVID-19 called on Thursday for the plant’s immediate closure, saying measures to control the outbreak were not working.
Oil prices edged lower on Friday after U.S. inventory data showed lacklustre fuel demand in the world’s largest oil consumer while worsening U.S.-China tensions weighed on global financial markets.
A U.S. judge on Thursday said institutional investors, including BlackRock Inc and Allianz SE’s Pacific Investment Management Co, can pursue much of their lawsuit accusing 15 major banks of rigging prices in the $6.6 trillion-a-day foreign exchange market.
Tyson Foods Inc said on Thursday it will temporarily close an Iowa pork plant due to the coronavirus pandemic, a month after U.S. President Donald Trump ordered slaughterhouses to stay open to protect the country’s food supply.
Asian shares were set to dip in choppy trade on Friday as worries about worsening U.S.-China ties offset the fillip from hopes massive government stimulus can jump-start the world economy.
Argentina’s economy minister said on Friday that a newly received debt restructuring proposal from two creditor groups was a step in the right direction, but still fell short of what the country needed to strike a deal.
Power regulator California Public Utilities Commission (CPUC) has approved PG&E Corp’s Chapter 11 reorganization plan, the San Francisco-based utility company said on Thursday.
When Sainsbury’s new boss Simon Roberts hosts a virtual focus group with supermarket shoppers on his first day in charge on Monday, the conversation will be radically different from the one he might have imagined when he got the job.
Costco Wholesale Corp reported a 7.5% fall in quarterly profit on Thursday, as it spent more on wages and sanitizing its warehouse clubs and halted sales of some high-margin products due to the COVID-19 pandemic.
Wall Street ended lower on Thursday following a late-session reversal, with Facebook weighing on the market after President Donald Trump said he would sign an executive order related to social media companies and would hold a news conference on China on Friday.
Salesforce.com Inc cut its annual revenue and profit forecasts on Thursday, as the cloud-based business software maker allowed clients to defer payments and provided its sales team one-time commissions amid the COVID-19 pandemic.
General Motors said on Thursday it would start increasing vehicle production in North America from next week to meet rising demand.
United Parcel Service Inc on May 31 will slap surcharges on U.S. e-commerce companies that have flooded its delivery network with shipments of everything from packaged food to patio furniture since the coronavirus took hold in March.
President Donald Trump said he will introduce legislation that may scrap or weaken a law that has protected internet companies, including Twitter and Facebook, in an extraordinary attempt to intervene in the media.
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