Business News

Apple Inc on Monday released the results of a study that found its App Store spurred $458 billion in sales last year from categories such as retail of physical goods, ride-hailing and advertising from which the iPhone maker takes no commission.

Planemaker Embraer said on Monday it will receive a $600 million loan, financed partly by Brazil's government, to help the company weather the coronavirus crisis that has ravaged the air travel industry.

Mexican President Andres Manuel Lopez Obrador said on Monday he would sell gasoline to Venezuela for "humanitarian" reasons if asked to, despite U.S. sanctions on the South American country and its state-run oil firm, PDVSA.

U.S. homebuilder Lennar Corp on Monday reported a better-than-expected quarterly profit and forecast full-year deliveries above estimates, as home sales rebound due to the economy gradually reopening following coronavirs-led lockdowns.

NEW YORK, June 15 (LPC) - Venture lending business development companies (BDCs) are becoming increasingly active in the private credit space as the coronavirus pandemic continues to weigh down more traditional sources of lending for small and mid-sized companies.

Walt Disney Co’s ABC News has placed on leave one of its top executives, Barbara Fedida, while it investigates press reports that she made racist comments, among other inappropriate behavior, according to the network.

The U.S. Food and Drug Administration on Monday issued a warning to healthcare providers against administering malaria drug hydroxychloroquine or chloroquine in combination with Gilead Sciences' experimental COVID-19 drug, remdesivir.

JPMorgan Chase & Co plans to start returning more traders and sales staff to its Manhattan headquarters starting next week with volunteers, a source familiar with the matter said on Monday.Roughly 20% of the bank's sales and trading staff have worked at its New York office throughout the coronavirus pandemic. Starting on June 22, the bank will gradually increase its in-office staff to as much as 50% by mid-July, the source said.

A gauge of global equities rebounded on Monday after the Federal Reserve widened its program of buying corporate debt, while crude oil rose on signs fuel demand is recovering and as investors grapple with how to assess the economic reopening.

Oil prices rose more than 2% on Monday as signs that fuel demand was recovering, while OPEC+ members were complying with a production cut deal, outweighed fears that new coronavirus infections could further slow the global economy.

The United States on Monday confirmed a Reuters report that it will amend its prohibitions on U.S. companies doing business with China's Huawei [HWT.UL] to allow them to work together on setting standards for next-generation 5G networks.

Electric carmaker Tesla Inc is negotiating possible incentives with a Texas county that could bring a new auto assembly plant to the area near Austin, the state capital, the Austin American-Statesman reported on Monday.

British Airways is fighting for its survival and has acted lawfully, Willie Walsh, the chief executive of the airline's owner IAG said on Monday, in a terse response to lawmakers who heavily criticised its treatment of employees.

Electric carmaker Tesla Inc is negotiating possible incentives with a Texas county that could bring a new auto assembly plant to the area near Austin, the state capital, the Austin American-Statesman reported on Monday.

United Airlines said on Monday it is pledging its MileagePlus frequent flyer program for a new $5 billion loan aimed at further buffering its liquidity, even as its cash burn rate slows thanks to a steady improvement in demand.

Wall Street jumped on Monday following an announcement by the U.S. Federal Reserve regarding its corporate bond purchasing program that boosted investor confidence, which had been wavering amid a spike in new COVID-19 cases.

* Indexes up: Dow 0.95%, S&P 1.16%, Nasdaq 1.69% (Updates to late afternoon, changes dateline, byline)

-- Source link: https://bit.ly/3e7J19R

Six former eBay Inc employees have been criminally charged with cyberstalking a Massachusetts couple who published an online newsletter viewed as critical of the e-commerce company, federal prosecutors in Boston said on Monday.

Amazon.com Inc said on Monday its founder and Chief Executive Jeff Bezos was willing to testify to a congressional panel investigating potential violations of U.S. antitrust law by big technology companies.