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Updated: 6 hours 43 min ago

Oil prices rise on optimism around OPEC+ output pact

Mon, 06/15/2020 - 23:05
Oil prices rose on Monday as signs fuel demand was recovering while OPEC+ members were complying with a production cut deal outweighed fears that new coronavirus infections could further slow the global economy.

SAP online customer event off to rocky start as site crashes

Mon, 06/15/2020 - 22:58
SAP's biggest customer event, Sapphire Now, got off to a rocky start on Monday as the site hosting this year's "reimagined" event, held online due to the coronavirus pandemic, crashed.

Primark the star attraction as England's stores reopen after lockdown

Mon, 06/15/2020 - 22:51
Long queues of shoppers snaked around stores in England on Monday, with discount fashion retailer Primark proving a particular draw as shops reopened their doors after 83 days of lockdown.

U.S. FDA revokes emergency use status of drug touted by Trump for COVID-19

Mon, 06/15/2020 - 22:49
The U.S. Food and Drug Administration on Monday revoked its emergency use authorization for hydroxychloroquine to treat COVID-19, the drug championed by U.S. President Donald Trump to stave off the coronavirus.

Gold falls over 1% on stronger dollar amid new wave fears

Mon, 06/15/2020 - 22:46
Gold fell more than 1% on Monday as the dollar hovered near a more than one-week high, but the metal held above $1,700 an ounce, buoyed by fears of a second wave of coronavirus infections.

Italy says closely watching LSE/Refinitiv deal due to implications for Milan bourse

Mon, 06/15/2020 - 22:46
Italian Economy Minister Roberto Gualtieri said on Monday the government is closely watching the merger between the London Stock Exchange (LSE) and Refinitiv, and its implications for the Italian bourse owned by LSE.

Coronavirus vaccine maker CureVac plans U.S. listing in July

Mon, 06/15/2020 - 22:45
German drugmaker CureVac, in which the government is taking a sizeable stake to help fund a COVID-19 vaccine, is planning an initial public offering in the United States next month, a finance ministry document seen by Reuters on Monday showed.

HSBC gets veiled rebuke from UK government over Hong Kong

Mon, 06/15/2020 - 22:45
Britain's Foreign Secretary Dominic Raab voiced a thinly veiled criticism of HSBC on Monday after the bank backed China's national security law for Hong Kong, contradicting the British government's opposition to it.

Fed's Daly calls for more public spending, sees big payoff

Mon, 06/15/2020 - 22:14
San Francisco Federal Reserve President Mary Daly on Monday called on fiscal policymakers to boost spending on healthcare, education and digital infrastructure, even as she signaled she expects the U.S. central bank to keep interest rates low and do more if needed to help the economy.

UAE confident that OPEC+ laggards will meet oil cut commitments

Mon, 06/15/2020 - 22:13
The energy minister of the United Arab Emirates said on Monday he was confident OPEC+ countries with poor compliance to agreed cuts would meet their commitments and said there were signs that oil demand was picking up as some nations eased lockdowns.

EU set to slightly surpass 2030 renewable energy goal, but funding boost needed

Mon, 06/15/2020 - 22:12
The European Union looks set to slightly beat its goal to get a third of its energy from renewable sources by 2030, but public support will be needed to offset a drop in clean power investment due to COVID-19, the bloc's top energy official said.

Fears of fresh virus wave hit Wall Street, S&P 500 slips below 3,000 pts

Mon, 06/15/2020 - 22:10
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.

For shrinking stock markets, corona crisis looks like a turning point

Mon, 06/15/2020 - 22:02
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.

Santander's U.S. unit to close offices on June 19 commemorating Juneteenth

Mon, 06/15/2020 - 22:01
Santander Holdings USA Inc, a unit of Madrid-based Banco Santander S.A., said on Monday it would close its offices and branches at noon on June 19, to commemorate 'Juneteenth', or the end of slavery in the United States.

Shares of Bombardier, BlackBerry drop after removal from blue-chip index

Mon, 06/15/2020 - 21:55
Shares in Bombardier Inc and BlackBerry Ltd, one a staple of Canadian pension funds, the other a formerly high-flying technology company whose ubiquitous devices were in hands of presidents & average people alike, slipped on Monday after being removed from Canada's bluechip stock index.

Novavax to raise $200 million through stock offering to fund COVID-19 vaccine

Mon, 06/15/2020 - 21:54
Novavax Inc said on Monday it would raise fresh capital through a $200 million preferred stock offering as it races to develop a vaccine for the new coronavirus, sending its shares up 10.5%.

Tata Motors to shed 1,100 JLR jobs after pandemic hits earnings

Mon, 06/15/2020 - 21:53
India's Tata Motors Ltd expects to shed about 1,100 temporary jobs at Jaguar Land Rover after it raised the cost-cutting target at its luxury unit by 1 billion pounds ($1.26 billion) to ride out the disruptions caused by the coronavirus outbreak.

Coronavirus vaccine maker CureVac plans U.S. listing in July

Mon, 06/15/2020 - 21:51
German vaccine maker CureVac plans to raise funds by selling stock in an initial public offering in the United States next month, a finance ministry document seen by Reuters on Monday showed.

Iraq agrees with oil companies on deeper output cuts in June - sources

Sun, 06/14/2020 - 22:10
Iraq has agreed with major oil companies operating its giant southern oilfields to cut crude production further in June, Iraqi officials working at the fields told Reuters on Sunday.

Systemic racism slows down economic growth, Dallas Fed chief says

Sun, 06/14/2020 - 22:04
Systemic racism and high unemployment levels among black and Hispanic Americans create a drag on the U.S. economy, Dallas Federal Reserve President Robert Kaplan said on Sunday.