Business News

Truck- and construction equipment maker AB Volvo plans to cut its white-collar workforce by around 4,100 positions during the second half of 2020, it said in a statement on Tuesday, citing the effects of the COVID-19 pandemic.

Global stocks were back firing on all cylinders on Tuesday as a record rebound in U.S. retail sales and fresh support from the Federal Reserve and Bank of Japan reignited risk appetite after a bumpy few days.

Four senior executives are leaving Embraer SA , in addition to its commercial aviation chief, in the wake of a failed deal with Boeing Co and as a new chief executive reassess the jet maker's path forward, three sources said.

Ingka Group, the owner of most IKEA stores, said on Tuesday it had repaid aid received from the Serbian government to cover wages for furloughed staff during lockdown, and was about to do the same in Romania.

Radio-frequency chip maker MaxLinear Inc said on Tuesday it was hit by a cyber attack, with a hacker releasing some proprietary information about the company online.

Four senior executives are leaving Embraer SA, in addition to its commercial aviation chief, in the wake of a failed deal with Boeing Co and as a new chief executive reassess the jet maker's path forward, three sources said.

IAC Holdings Inc filed for an initial public offering on Tuesday as the company looks to list shares after offloading its entire stake in Tinder-owner Match Group Inc last December.

Canadian telecom operator Telus Corp is being pressed by authorities to remove Huawei gear from its 4G infrastructure in the national capital region, the Globe and Mail reported on Tuesday, citing sources.

Three Indian soldiers were killed in a "violent faceoff" with Chinese troops on the disputed border, the Indian Army said on Tuesday, reporting the first casualties in 53 years to result from a clash between the nuclear-armed neighbours.

Airlines are urging aviation regulators to extend a waiver on airport slot rules as they struggle to overcome the coronavirus crisis, their main international body said on Tuesday.

* Premium for cash over 3-month tin contract surges (Updates with official prices)

U.S. stock futures rose sharply on Tuesday after data showed a record jump in retail sales in May, far above expectations, as Americans resumed spending after weeks of lockdown, underscoring views that the worst of the coronavirus impact was over.

Germany appealed to the public on Tuesday to download a new smartphone app to help break the chain of coronavirus infections, one of several such apps that European governments hope will revive travel and tourism safely.

Germany sought to mobilize the public on Tuesday to download a new smartphone app that seeks to help break the chain of coronavirus infections, one of several such apps in Europe that governments hope will revive travel and tourism.

China National Biotec Group (CNBG) said on Tuesday its experimental coronavirus vaccine has triggered antibodies in clinical trials and the company plans late-stage human trials in foreign countries.

* Macron says to repatriate some drugs production (Adds more Macron comments, background)

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.

EU antitrust regulators will decide by July 20 whether to clear Alphabet Inc-owned Google's $2.1 billion bid for fitness trackers company Fitbit , a deal that has prompted concerns from consumer groups and privacy advocates.

The global stocks rally got back on track on Tuesday, with more support from the Federal Reserve and the Bank of Japan helping to end a bumpy few days for financial markets.

* Futures rise: Dow 1.65%, S&P 1.16%, Nasdaq 1.09% (Adds details, quote; Updates prices)