Business News

Austria is granting Lufthansa's Austrian Airlines unit a 450 million euro ($508 million) bailout that will protect Vienna as a transit hub and safeguard "the bulk" of the flag carrier's 7,000 jobs, the government said 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.

* OPEC+ cuts for May and June: https://tmsnrt.rs/2SsCSMN (Adds latest prices; Changes dateline, previous LONDON)

Energy companies on Monday began preparations to resume oil and gas production in the U.S. Gulf of Mexico, a day after Tropical Storm Cristobal blew through with high winds and heavy rains.

Fiat Chrysler's planned $50 billion merger with Peugeot maker PSA has hit a bump after EU regulators voiced concerns about the companies' market share in small vans, indicating concessions may be required, sources said.

A merger between AstraZeneca and Gilead Sciences Inc is unlikely due to significant political hurdles, Wall Street analysts said on Monday after a Bloomberg report that the British drugmaker last month had contacted its U.S. rival about a deal.

Royalty Pharma Plc said on Monday it is looking to raise up to $1.96 billion in an initial public offering, which would make it the biggest U.S. listing of the year so far.

A gauge of global equity markets rose on Monday on hopes of a fast recovery from the coronavirus economic slump while oil slid after Saudi Arabia said an extension of output cuts by producer nations would not include extra cuts by three Gulf countries.

Russian Finance Minister Anton Siluanov told U.S. Treasury Secretary Steven Mnuchin on Monday that Russia intends to "participate fully" in a G20 official debt service suspension initiative to help the poorest countries fight the coronavirus, the Treasury said in a statement.

* Investors continue to move out of tech, healthcare (Updates with market close)

Trading volume for emerging market credit default swaps (CDS) rose 3% in the first quarter to a record $521 billion from $505 billion a year earlier, according to a survey of 12 major dealers released on Monday.

The U.S. National Transportation Safety Board (NTSB) on Monday urged strengthening air cargo shipping requirements for prototype and low-production lithium-ion batteries after a 2016 FedEx delivery truck fire in Canada.

Google is adding features on its Maps service to alert users about COVID-19-related travel restrictions to help them plan their trips better, the Alphabet Inc unit said on Monday.

* Indexes: Dow 1.09%, S&P 0.53%, Nasdaq 0.34% (Adds quote, details; Updates prices)

The coronavirus will cause global economic output to contract by 5.2% in 2020, the World Bank said on Monday, warning that its latest forecasts would be revised downward if uncertainty over the pandemic and business lockdowns persist.

U.S. consumers felt slightly more optimistic about their finances and job security in May as businesses began to reopen and rehire workers following the easing of coronavirus-related restrictions, according to a survey released on Monday by the New York Federal Reserve.

Elanco Animal Health secured EU antitrust clearance on Monday to buy Bayer's veterinary drugs unit after pledging to sell some products to address competition concerns about the $7.6 billion deal.

The U.S. National Transportation Safety Board (NTSB) on Monday urged strengthening air cargo shipping requirements for prototype and low-production lithium-ion batteries after a 2016 FedEx delivery truck fire in Canada, saying existing rules pose a "danger to all those involved in the transportation of these batteries, on the ground and in the air."

Dunkin', a unit of Dunkin' Brands Group Inc, said on Monday its franchisees are seeking to hire up to 25,000 workers as it prepares for higher demand, with U.S. states reopening after months-long lockdowns to contain the spread of the novel coronavirus.

Elanco Animal Health secured EU antitrust clearance on Monday to buy Bayer's veterinary drugs unit after pledging to sell some products to address competition concerns about the $7.6 billion deal.