Business News

A large number of small U.S. businesses could fail during the coronavirus recession, the Federal Reserve said on Friday, slowing recovery and creating lasting damage to the world's largest economy.

The United States is in talks with Brazil and its local telecommunications companies on funding the acquisition of fifth-generation gear produced by Ericsson and Nokia, U.S. ambassador for Brazil Todd Chapman told Brazilian newspaper Folha de S.Paulo.

Mexico's president on Friday said he had spoken to BlackRock Chief Executive Officer Larry Fink at the request of the Argentine government to lobby the asset management firm to accept Argentina's offer during debt restructuring talks.

Shares of airlines, cruise lines and other companies that have been popular with investors on the Robinhood trading app shot higher on Friday, a day after stocks suffered their worst one-day market rout in about three months.

Shares of airlines, cruise lines and other companies that have been popular with investors on the Robinhood trading app shot higher on Friday, a day after stocks suffered their worst one-day market rout in about three months.

A top White House economic adviser on Friday predicted an "increasing divergence" between states controlled by Republican governors and those led by Democrats, saying Republican "red" states opening up faster will see a stronger economic recovery.

* Travel and leisure stocks the worst weekly performers, down 11%

* Indexes up: Dow 0.76%, S&P 0.52%, Nasdaq 0.35% (Adds quote, details; Updates prices)

* U.S. stocks bounce back, but on track for worst week in 3 months

Brazilian homebuilder You Inc Incorporadora e Participações S.A. has resumed plans for an initial public offering on the Sao Paulo stock exchange after giving up the idea earlier during the coronavirus outbreak.

* Euro zone periphery govt bond yields http://tmsnrt.rs/2ii2Bqr (Recasts, adds Spain rating review, updates prices)

Turkey fiercely criticised Twitter on Friday for suspending more than 7,000 accounts that supported President Tayyip Erdogan, saying the company was smearing the government and trying to redesign Turkish politics.

A U.S. regulator ruled that India's Mahindra and Mahindra Ltd infringed upon the intellectual property rights of Fiat Chrysler Automobiles NV's (FCA) Jeep brand, barring the sale of the vehicles in question.

Mexico's Puebla state, home to plants by German automakers Volkswagen AG and Audi, is not ready to reopen its automotive sector due to continuing concerns about the spread of the coronavirus, Puebla's Governor Miguel Barbosa said on Friday.

British Airways, easyJet and Ryanair said on Friday they have begun legal action against the British government's quarantine policy in a bid to overturn what they see as overly strict rules.

An anti-China advocacy group that includes former White House adviser Steve Bannon is calling on the Trump administration to exclude Chinese companies from U.S. financial markets, as the White House studies new ways to crack down on China.

Facebook's acquisition of popular GIF website Giphy is being scrutinized by the United Kingdom's competition watchdog for possibly reducing competition.

Brazilian homebuilder You Inc Incorporadora e Participações S.A. has resumed plans for an initial public offering on the Sao Paulo stock exchange after giving up the idea earlier this year due to the coronavirus outbreak.

Oil prices rose on Friday but were on track for their first weekly fall in seven as new U.S. coronavirus cases spiked, raising the prospect of a second wave hitting demand.

The Members Exchange (MEMX), a new U.S. stock exchange backed by some of Wall Street's biggest firms that is preparing for a Sept. 4 launch, said it received financial backing from Citigroup Inc .