Business News

Asian stocks were set to climb on Tuesday as confidence in an economic recovery pushed the Nasdaq benchmark to a record high, although doubts about crude supply cuts were likely to keep oil prices under pressure.

The U.S. Environmental Protection Agency said on Monday that farmers can use supplies of an agricultural weed killer they had on hand as of June 3, after a federal court blocked sales and use of the product last week.

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.

Oil and gas producer Occidental Petroleum is reviewing options for its Middle Eastern assets in a bid to ease its debt load, Bloomberg News reported on Monday, citing people familiar with the matter.

-- Note: Reuters has not verified this story and does not vouch for its accuracy

The Nasdaq posted a record closing high on Monday, becoming the first of the major indexes to confirm a new bull market, while the S&P 500 ended in positive territory for the year as expectations for a swift recovery from a coronavirus-driven downturn increased.

-- Note: Reuters has not verified this story and does not vouch for its accuracy

Macy's Inc said on Monday it raised a total of $4.5 billion, including $3.15 billion in new borrowings against its real estate assets, as the department store chain tries to navigate through the fallout from the COVID-19 pandemic.

Macy's Inc said on Monday it raised a total of $4.5 billion, including $3.15 billion in new borrowings against its real estate assets, as the department store chain tries to navigate through the fallout from the COVID-19 pandemic.

The Nasdaq posted a record closing high on Monday, becoming the first of the major indexes to confirm a new bull market, while the S&P 500 ended in positive territory for the year as expectations for a swift recovery from a coronavirus-driven downturn increased.

General Electric Co said on Monday it reopened portions of its prior debt offerings for $3 billion in total proceeds to boost its cash reserves amid the coronavirus crisis.

Global equity markets surged on Monday, with the Nasdaq hitting a record high on hopes of a quick recovery from the coronavirus slump, while oil slid after Saudi Arabia said new output cuts by producer nations would not include extra cuts by three Gulf countries.

General Electric Co said on Monday it reopened portions of its prior debt offerings for $3 billion in total proceeds to boost its cash reserves amid the coronavirus crisis.

Global equity markets surged on Monday, with the Nasdaq hitting a record high on hopes of a quick recovery from the coronavirus slump, while oil slid after Saudi Arabia said new output cuts by producer nations would not include extra cuts by three Gulf countries.

Macy's Inc said on Monday it raised a total of $4.5 billion, including $3.15 billion in asset-based credit, as the department store chain tries to navigate through the fallout from the COVID-19 pandemic.

Global Blood Therapeutics Inc said on Monday it plans to ask U.S. regulators to greenlight the use of its sickle cell treatment, Oxbryta, in children aged 4 to 11, expanding on an earlier approval for patients 12 and over.

* Airlines, cruise operators jump (Updates close with details)

The U.S. economy ended its longest expansion in history in February and entered recession as a result of the coronavirus pandemic, the private economics research group that acts as the arbiter for determining U.S. business cycles said on Monday.

On the same day that the Nasdaq marked a new bull market, the U.S. economy was officially declared to be in a recession. The two milestones on Monday illustrate how an 11-week surge in stocks has occurred despite widespread economic devastation fueled by the coronavirus pandemic.

* GBT ANNOUNCES PLANS TO SEEK EXPANDED LABELING FOR OXBRYTA® (VOXELOTOR) TO TREAT CHILDREN AGES 4 TO 11 YEARS WITH SICKLE CELL DISEASE