Business News

Moderna Inc on Thursday confirmed it plans to start a trial of 30,000 volunteers of its much-anticipated coronavirus vaccine in July as the company enters the final stage of testing.

Moderna Inc on Thursday confirmed it plans to start a trial of 30,000 volunteers of its much-anticipated coronavirus vaccine in July as the company enters the final stage of testing.

Layoffs in the United States are abating, but millions who lost their jobs because of COVID-19 continue to draw unemployment benefits, suggesting the labor market could take years to heal from the pandemic even as businesses resume hiring workers.

* Futures fall: Dow 3.09%, S&P 2.49%, Nasdaq 1.57% (Adds details, quote; updates prices)

The California Public Utilities Commission (CPUC) said drivers under Transportation Network Companies (TNCs), which include ride-hailing services such as Uber Technologies Inc and Lyft Inc, would be considered employees under the state's work law.

Unilever proposed collapsing its Anglo-Dutch legal structure into a single holding company based in Britain on Thursday, nearly two years after shareholders sank an earlier plan to move its headquarters to the Netherlands.

Anglo-Dutch Unilever plans to become a single holding company based in Britain, unwinding a dual-headed structure which has been in place for 90 years.

Takeda Pharmaceutical Co Ltd has agreed to sell a portfolio of over-the-counter and prescription drugs marketed in the Asia Pacific region to South Korea's Celltrion Inc for $278 million, it said on Thursday

* PM Marape says PNG just wants fair share (Adds Exxon comment in paragraph 9)

Planemaker Bombardier Inc is to cut up to 600 jobs in its Northern Ireland operations, it said on Thursday, as part of plans announced last week to cut 2,500 jobs or about 11% of the workforce in its global aviation unit.

World shares took their biggest tumble in five weeks on Thursday as a sobering economic outlook from the U.S. Federal Reserve challenged market expectations, while bonds rallied on bets yet more stimulus would be needed to ensure recovery.

* Europe falls 2.5%, Asia stocks retreat after 10 days of gains

JPMorgan has promoted Jonas Wikmark as co-head of Nordics banking to drive growth in one of its major European markets, according to a memo seen by Reuters.

Futures for Canada's main stock index fell on Thursday, as oil prices dropped on a record build-up in U.S. crude inventories and a dour economic outlook from the U.S. Federal Reserve.

Moderna Inc on Thursday confirmed it plans to start a trial of 30,000 volunteers of its much-anticipated coronavirus vaccine in July as the company enters the final stage of testing.

Planemaker Bombardier Inc is to cut up to 600 jobs in its Northern Ireland operations, it said on Thursday, as part of plans announced last week to cut 2,500 jobs or about 11% of the workforce in its global aviation unit.

Takeda Pharmaceutical Co Ltd said on Thursday it will divest some over-the-counter and prescription drugs sold exclusively in Asia Pacific to South Korea's Celltrion Inc.

China and the United States should resume timely communication on trade and other issues, an adviser to the Chinese cabinet said on Thursday, stressing that the world's two biggest economies are too intertwined to be decoupled.

Volkswagen's management board on Thursday apologised for the company's publication on its Instagram page of a racist advert and said the clip was published because of a lack of cultural sensitivity rather than because of racist intentions.

* VW says racist ad a product of lack of cultural understanding