Business News

The European Central Bank beefed up its bond-buying programme on Thursday in its latest effort to support a euro zone economy pummelled by more than two months of shutdowns due to the coronavirus pandemic.

The European Central Bank expects the euro zone to suffer a deep recession this year, with losses only partly made up in 2021 as pandemic-related restrictions weigh on output for an extended period.

The European Central Bank beefed up its bond-buying programme on Thursday in its latest effort to support a euro zone economy pummelled by more than two months of shutdowns to cope with the coronavirus pandemic.

European Central Bank policymakers debated expanding their pandemic-fighting programme by between 500 billion euros ($566 billion) and 750 billion euros on Thursday before settling for a compromise figure, three sources told Reuters.

LVMH said on Thursday Frederic Arnault, one of the younger sons of the luxury goods group's billionaire boss, would take over running watch brand Tag Heuer, joining his siblings in taking on bigger roles within the conglomerate.

Germany said it will oblige all petrol stations to offer electric car charging to help remove refuelling concerns and boost consumer demand for the vehicles as part of its 130 billion euro ($146 billion) economic recovery plan.

A bet on tech companies has been a solid one in the aftermath of the coronavirus-induced market crash, but some investors are questioning whether those stocks can maintain their momentum if jobs do not recover soon.

The Hong Kong dollar rose on Monday to 7.75 per U.S. dollar, the strong end of its trading band, for the first time since May 21.

* Graphic: Trade-weighted sterling since Brexit vote http://tmsnrt.rs/2hwV9Hv

EBay Inc raised its current-quarter revenue and profit forecasts on Thursday, as people stuck at home due to the COVID-19 pandemic ordered more through its online platform, sending its shares to a record high.

Murphy Oil began evacuating non-essential workers from the U.S. Gulf of Mexico on Thursday because of the threat from Tropical Storm Cristobal.

Bank lending in Brazil is set to rise by 7.6% this year, the central bank said in a presentation on Thursday, citing increased demand from companies hit by the economic fallout of the coronavirus pandemic.

* American Airlines up on plans to boost U.S. flights in July

Brazilian electronics and appliances retailer Via Varejo SA said on Thursday its board has approved a primary share offering to raise up to 4 billion reais ($790 million), driving its shares higher.

Latin American stocks fell on Thursday and Mexico's peso eased off 12-week highs as a recent rally in risk assets on hopes of an economic recovery lost steam. MSCI's index of Latam stocks broke a three-day winning streak, with Brazil's Bovespa Mexico's IPC index both giving up about half a percent. But "the rally could have another leg higher, especially as the dollar looks to be on a downward trajectory, which may be a sign that investors are g

Many U.S.-listed Chinese firms will likely list on the Hong Kong exchange this year, in part because of U.S. political pressure following China's new national security legislation on Hong Kong, the head of the exchange said on Thursday.

* Bayer says seeking new EPA registration for 2021 (Adds analyst comment, background in dicamba)

The number of Americans filing for unemployment benefits dropped below 2 million last week for the first time since mid-March, but remains astonishingly high as companies adjust to an environment that has been significantly changed by COVID-19.

Canada's main stock index fell on Thursday as the heavyweight energy sector dropped on lower oil prices, with bleak trade data for April further denting sentiment.

Swiss voters look set to get the final say on whether Swiss-based companies should be liable for human rights abuses and environmental violations in operations even outside Switzerland.