Business News

Risk appetite found new life on Tuesday on a record rebound in U.S. retail sales, fresh support from the Federal Reserve and Bank of Japan, and upbeat trial results for a COVID-19 treatment, driving global equity markets higher and boosting the dollar.

Oilfield services provider Schlumberger NV expects to book a charge to earnings of up to $1.4 billion for an accelerated restructuring and new job cuts, Chief Executive Officer Olivier Le Peuch said at a energy conference on Tuesday.

Risk appetite found new life on Tuesday on a record rebound in U.S. retail sales, fresh support from the Federal Reserve and Bank of Japan, and upbeat trial results for a COVID-19 treatment, driving global equity markets higher and boosting the dollar.

Texas as early as this fall could tighten some rules for the controversial practice of natural gas flaring, the head of the state's regulatory commission said on Tuesday.

Oracle Corp reported quarterly revenue below Wall Street targets on Tuesday as its traditional licensing business underperformed because the coronavirus crisis delayed purchases from clients in hospitality, retail and other sectors.

* Indexes up: Dow 2.04%, S&P 1.90%, Nasdaq 1.75% (Updates with prices)

Six former eBay Inc employees have been criminally charged with mounting a cyberstalking campaign against a Massachusetts couple whose online newsletter they viewed as critical of the e-commerce company, U.S. prosecutors announced on Monday.

Business software maker Oracle Corp reported quarterly revenue below Wall Street targets on Tuesday, hurt by weaker sales in its traditional software licensing business as the coronavirus crisis delayed purchases from clients in certain sectors.

Latin American stocks joined a global rally on Tuesday as hopes of more global stimulus and upbeat U.S. data lifted sentiment, although most regional currencies turned to

Six former eBay Inc employees have been criminally charged with mounting a cyberstalking campaign against a Massachusetts couple whose online newsletter they viewed as critical of the e-commerce company, U.S. prosecutors announced on Monday.

Wall Street advanced on Tuesday as the prospect of additional stimulus and a record jump in retail sales suggested the U.S. economy could bounce back sooner than expected, five months into its pandemic-inflicted recession.

The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Tuesday:

A fifth-generation (5G) telecoms tender in Brazil should not be contaminated by ideological battles with China and more competition will lead to better prices for consumers, the head of the lower house said on Tuesday.

German investor Heinz Hermann Thiele sharply criticised a 9-billion-euro ($10.14 billion) bailout deal for carrier Lufthansa , saying he had raised his stake in the group to more than 15% and hoped alternative options could be explored.

German fashion house Hugo Boss has appointed former Tommy Hilfiger boss Daniel Grieder as its next chief executive, it said on Tuesday.

Shale producer Devon Energy Corp has curtailed roughly 10,000 barrels per day of oil production, its chief executive said at an energy conference on Tuesday, but said Devon still expects to end the year with output flat with 2019 levels.

AT&T Inc plans to cut more than 3,400 technician and clerical jobs across the country over the next few weeks, the wireless carrier told its main labor union, the Communications Workers of America, on Tuesday.

Amazon.com Inc on Tuesday launched an artificial intelligence-based tracking system to enforce social distancing at its offices and warehouses to help reduce any risk of contracting the new coronavirus among its workers.

U.S. Treasury yields rose on Tuesday as hopes of further fiscal stimulus boosted risk appetite, and after data showed a record rise in U.S. retail sales in May. Stocks gained on a report that the Trump administration is preparing a nearly $1 trillion infrastructure proposal as part of its push to spur the world's largest economy back to life. Risk sentiment was further uplifted after the Comm

A record rebound in U.S. retail sales, fresh support from the Federal Reserve and Bank of Japan, and upbeat trial results for a COVID-19 treatment boosted risk appetite on Tuesday, driving global equity markets higher and strengthening the dollar.