Business News

Global benchmark Brent rose more than 1% on Thursday to its highest since March, supported by lower U.S. crude inventories, OPEC-led supply cuts and recovering demand as governments ease coronavirus restrictions on people's movements.

Global equities slid on Thursday on concerns about the long-term impact of the new coronavirus and renewed U.S.-China tensions, though oil markets ignored those worries and marched to a 2-1/2 month highs.

Comcast Corp's Universal Studios Orlando on Thursday announced plans to reopen its park to the public on June 5.

Canadian miner Hudbay Minerals Inc expects a delay of up to four months before it can start mining an extension at its Constancia copper mine in Peru, the miner's chief executive said on Thursday.

The Trump administration has lowered royalties for several drilling companies producing oil and gas on federal lands, according to a government database, as the industry seeks help weathering low energy prices.

A group of U.S. senators is urging Delta Air Lines Inc and JetBlue Airways Corp to immediately reverse their decisions to reduce employees' hours, saying that the moves are inconsistent with the requirements of taxpayer-funded payroll assistance.

President Donald Trump traveled on Thursday to the crucial U.S. election battleground state of Michigan to visit a Ford Motor Co plant amid hostility with its Democratic governor over how quickly to reopen its economy during the coronavirus pandemic.

Facebook Inc will permanently embrace remote work even after coronavirus lockdowns ease, Chief Executive Mark Zuckerberg told employees on Thursday, accelerating the tech sector's geographic diversification away from its home in Silicon Valley.

Warehouse employees last month staged a walkout in Michigan to demand safer working conditions at their facility. So did workers in New York, Illinois and Minnesota.

Millions more Americans filed for unemployment benefits last week, more than two months after a shutdown of the country to deal with the coronavirus crisis, pointing to a second wave of layoffs in industries not initially impacted by closures caused by the pandemic.

The Trump Administration's coronavirus relief payment provided a fillip to sales of major retailers in April as millions of Americans used the money to buy everything from video games to sewing machines even as the country struggles with record job losses.

Southwest Airlines Co will continue to limit bookings on its flights through at least July to give passengers space between seats, CEO Gary Kelly told shareholders on Thursday, mirroring a plan by competitor Delta Air Lines Inc .

Chinese search engine giant Baidu Inc is considering delisting from the U.S. Nasdaq and moving to an exchange closer to home to boost its valuation amid rising tension between the United States and China over investments, three sources said.

Millions more Americans filed for unemployment benefits last week as backlogs in processing claims continue to be cleared and disruptions from the novel coronavirus unleash a second wave of layoffs, pointing to another month of staggering job losses in May.

Uber Technologies Inc on Thursday for the first time detailed how much it has spent to support its ride-hail drivers and food delivery workers during the coronavirus crisis, which has battered the company and forced it to lay off thousands of employees.

Unemployment payments jumped to at least $16.2 billion in April, up more than five-fold from February, as layoffs attributed to the coronavirus pandemic swept through the economy.

BlackRock Inc said all of its 16 director nominees received strong investor support at its annual meeting on Thursday, at which Chief Executive Laurence Fink defended the size of the company's large board.

Morgan Stanley's Chief Executive Officer James Gorman told shareholders at its annual meeting on Thursday that it is too early for him or the board of directors to consider reinstating bank's share buy back program.

Amazon.com Inc is scheduling its annual Prime Day shopping event for September and allowing unlimited shipments of non-essential goods to warehouses, the Wall Street Journal reported on Thursday, citing people familiar with the matter.

Michigan Governor Gretchen Whitmer said on Thursday she signed a series of executive orders re-opening sectors of the economy across the state, including allowing retail and auto showrooms to resume operations by appointment.