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Updated: 12 hours 54 min ago

Boeing jet deliveries sink to just four in May

Tue, 06/09/2020 - 22:57
Boeing Co deliveries slowed even further in May from April as the coronavirus pandemic's crushing impact on airlines added to a year of crisis following the grounding of its 737 MAX planes, company data showed on Tuesday.

What to look for in the Fed's U.S. economic outlook

Tue, 06/09/2020 - 22:54
U.S. Federal Reserve policymakers on Wednesday will publish their first economic projections since the coronavirus pandemic set off a recession in February, estimates expected to signal a collapse in output this year and near-zero interest rates for the next few years.

Gilead's remdesivir prevents lung damage in COVID-19 study on monkeys

Tue, 06/09/2020 - 22:50
Gilead Sciences Inc's antiviral drug remdesivir prevented lung disease in macaque monkeys infected with the new coronavirus, according to a study published in the journal Nature on Tuesday.

Tiffany amends debt pacts for financial leeway amid pandemic, slump in sales

Tue, 06/09/2020 - 22:49
U.S. luxury jeweler Tiffany & Co, which is being bought by France's LVMH for $16 billion, said on Tuesday it had amended some of its debt agreements to gain more financial leeway amid the coronavirus pandemic after its quarterly sales sank 44%.

U.S. layoffs ease in April; hiring slumps to record low

Tue, 06/09/2020 - 22:48
Layoffs in the United States fell in April, but remained the second highest on record, while hiring hit an all-time low, suggesting the labor market could take years to recover from the COVID-19 crisis despite a surprise rebound in employment in May.

Macy's says return to normal business at least a year away

Tue, 06/09/2020 - 22:38
Macy's Inc warned on Tuesday its business was not likely to return to normal until late next year, even as it saw better-than-expected sales from stores reopening after COVID-19 lockdowns were lifted across the United States.

BoE's Cunliffe sees 'great deal of pain' for financial sector

Tue, 06/09/2020 - 22:36
The initial shock of the coronavirus pandemic to Britain's financial system is over, but another sharp repricing of risk is still possible, Bank of England Deputy Governor Jon Cunliffe said on Tuesday.

VW CEO apologises after row with supervisory board

Tue, 06/09/2020 - 22:31
Volkswagen CEO Herbert Diess has apologised to the carmaker's supervisory board after accusing some of its members of leaking confidential information to the press.

Barclays labels Staveley lawsuit 'distorted and exaggerated'

Tue, 06/09/2020 - 22:25
Barclays has dismissed as "distorted and exaggerated" legal arguments by financier Amanda Staveley, who is claiming up to 1.5 billion pounds in damages for alleged deceit over a financial crisis-era fundraising in a high-profile London trial.

Retailers can reopen on June 15: British business minister

Tue, 06/09/2020 - 22:11
Retailers will be allowed to reopen on June 15, subject to social distancing guidelines, British business minister Alok Sharma said on Tuesday.

Pakistan to target 2.3% growth in FY21 budget as economy recovers from pandemic

Tue, 06/09/2020 - 22:08
Pakistan will target growth of 2.3% in fiscal year 2020-21, according to government officials and documents seen by Reuters that said the economic landscape would depend mainly on the country's ability to control the coronavirus pandemic.

Exclusive: Savings surge forces Goldman to shut Marcus to new UK clients

Tue, 06/09/2020 - 22:06
Goldman Sachs is closing its easy access savings business to new customers in Britain from Wednesday after deposits surged near to regulatory limits during the coronavirus lockdown.

Oil steady as renewed demand fears face production curbs

Tue, 06/09/2020 - 22:03
Oil prices were little changed on Tuesday, as traders said concerns about a resurgence in coronavirus cases offset recent commitments from major oil producers to curb production.

Online used car seller Vroom's shares surge 83% in debut

Tue, 06/09/2020 - 21:49
Shares of online used car seller Vroom Inc soared nearly 83% in their market debut on Tuesday, as the U.S. IPO market roars back to life after the coronavirus crisis slammed the brakes on new listings.

Exclusive: Obscure Indian cyber firm spied on politicians, investors worldwide

Tue, 06/09/2020 - 21:44
A little-known Indian IT firm offered its hacking services to help clients spy on more than 10,000 email accounts over a period of seven years.

WTO backs Australia in appeal over its tobacco packaging law

Tue, 06/09/2020 - 21:43
The World Trade Organization's appeals body ruled on Tuesday that Australia's tight laws on tobacco packaging were justified, rejecting complaints by Honduras and the Dominican Republic that they are unfair restrictions on trade.

GSK begins U.S. test of experimental drug for pneumonia from COVID-19

Tue, 06/09/2020 - 21:42
GlaxoSmithKline (GSK) has started a trial in the United States to test an experimental rheumatoid arthritis drug on patients suffering from pneumonia caused by COVID-19, the British drugmaker said on Tuesday.

South Korean court denies arrest warrant request for Samsung heir

Mon, 06/08/2020 - 23:12
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.

PG&E plans $5.75 billion equity raise to fund bankruptcy exit

Mon, 06/08/2020 - 23:09
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.

Dunkin' franchisees to hire up to 25,000 workers as U.S. states reopen

Mon, 06/08/2020 - 23:09
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.