Business News

Asian stocks rallied for their ninth straight day on Tuesday and oil prices jumped as the lifting of coronavirus lockdowns in many countries fed investor hopes of a relatively quick global economic recovery.

Taiwan Semiconductor Manufacturing Co Ltd (TSMC) could quickly fill the order gap created by the inability to sell to Huawei's HiSilicon chip division due to U.S. restrictions, the company's chairman said on Tuesday.

Online used car seller Vroom Inc raised $467.5 million in its U.S. initial public offering, the company said on Monday, as the IPO market picks up momentum after the COVID-19 pandemic placed many debuts on hold.

* Oil prices jump hopes of higher fuel demand as lockdowns ease

Lawyers for the former Green Beret and son wanted by Japan for helping former Nissan Motor Co boss Carlos Ghosn flee the country on Monday argued U.S. authorities wrongly arrested them for aiding a crime that they say does not exist in Japan: bail jumping.

International Business Machines Corp disclosed Monday it will no longer offer facial recognition or analysis software in a letter to Congress calling for new efforts to pursue justice and racial equity, new Chief Executive Officer Arvind Krishna said.

Movie theaters can reopen in California as early as Friday if they receive approval from local officials, limit attendance and impose other safeguards to prevent the spread of the novel coronavirus, the state's health department said on Monday.

In May 2019, China's central bank announced a shock takeover of a lender, its first such move in 20 years, citing "serious credit risks". Creditors in small Baoshang Bank were to take a hit, assets would be sold and an example set for governance.

Taiwan Semiconductor Manufacturing Co Ltd's planned factory in the United States is "definitely in line with" the company's interests, Chairman Mark Liu told investors on Tuesday.

Alibaba Group said its cloud unit aims to recruit 5,000 staff globally from now until the end of this financial year, in areas including network, database, servers, chips and artificial intelligence, it said in a statement on Tuesday.

Online used car seller Vroom Inc said on Monday it raised $467.5 million in its initial public offering as appetite for new stocks rebounds after the COVID-19 pandemic put many debuts on hold.

Private equity investors are seeking Chinese companies to take private in the hope they can snap up bargains amid the coronavirus-related sell-off, but the banks that help find such deals are proving less keen to finance them.

The U.S. Environmental Protection Agency said on Monday that farmers can use existing supplies of an agricultural weed killer linked to crop damage, after a federal court blocked sales and use of the product last week.

Movie theaters can reopen in California as early as Friday if county officials grant approval, the state's health department said in guidelines issued on Monday.

Private equity investors are seeking Chinese companies to take private in the hope they can snap up bargains amid the coronavirus-related sell-off, but the banks that help find such deals are proving less keen to finance them.

The following are the top stories on the business pages of British newspapers. Reuters has not verified these stories and does not vouch for their accuracy.

China Telecom Corp’s U.S. unit urged the Federal Communications Commission (FCC) not to revoke the company's nearly two-decade old authorization to provide international telecommunications services to and from the United States.

The following are the top stories in the Financial Times. Reuters has not verified these stories and does not vouch for their accuracy.

International Business Machines Corp will no longer offer general purpose facial recognition or analysis software, new Chief Executive Officer Arvind Krishna said in a letter to the members of the United States Congress on Monday.

U.S. business analytics firm Dun & Bradstreet is preparing to launch an initial public offering that could raise up to $1 billion, the latest company to eye a listing after the coronavirus-induced economic downturn roiled the market for new stocks.