Business News

British luxury brand Mulberry plans to cut its global workforce by about 25% as it seeks to reduce its cost base with demand hit by the coronavirus pandemic.

* OPEC+ cuts for May and June: https://tmsnrt.rs/2SsCSMN (Changes dateline, updates prices, modifies throughout)

World shares paused on Monday as investors turned cautious after a 42% surge since March, as economies continued to struggle with the effects of the coronavirus pandemic.

* Graphic: World FX rates in 2020 http://tmsnrt.rs/2egbfVh (Recasts top half, updates prices, adds graphic)

* Investors continue to move out of tech, healthcare (Adds comment, updates prices)

Investor morale in the euro zone improved in June and an assessment of expectations rose to its highest level since November 2017 as the bloc "is waking up from its deep sleep", a survey showed on Monday.

The rehabilitation of flag carrier Thai Airways International Pcl may take up to seven years, the airline's legal advisor said on Monday.

(A look at the day ahead from EMEA deputy markets editor Sujata Rao. The views expressed are her own.) While most of the talk of late has been about flattening coronavirus infection curves, another curve has been grabbing markets' attention.

Banks including HSBC, Standard Chartered and Citigroup have seen a spike in enquiries from Hong Kong residents about opening offshore accounts amid concerns stemming from China's decision to impose a national security law on the city, five people said.

Banks including HSBC, Standard Chartered and Citigroup have seen a spike in enquiries from Hong Kong residents about opening offshore accounts amid concerns stemming from China's decision to impose a national security law on the city, five people said.

Hong Kong activist investor David Webb has said he will step back from posting his widely read critiques of companies and the city's government after being diagnosed with prostate cancer.

U.S. private equity firm Blackstone has lowered its takeover bid for the Dutch bank NIBC by around 25%, after it said the coronavirus pandemic threatened to derail the deal altogether.

The first stages of a South Korean government “Green New Deal” aiming to retool one of the world’s most fossil fuel-reliant economies is focused instead on protecting jobs as the country seeks to stimulate a virus-ravaged economy, activists say.

Shares in Britain's AstraZeneca fell 2.1% in early trades on Monday after a report it had approached U.S. rival Gilead Sciences about a possible merger to form one the world's largest drug companies.

Hundreds of thousands of jobs, if not millions, could be lost in Britain if aviation is not able to resume quickly, the chief executive of London's Heathrow Airport said on Monday.

Asset manager Ninety One has launched a 10-billion-rand ($597 million) fund, in partnership with a private equity firm, that will target investments in South African businesses struggling due to the coronavirus outbreak.

Hundreds of thousands of jobs, if not millions, could be lost in Britain if aviation is not able to resume quickly, the chief executive of London's Heathrow Airport said on Monday.

European shares retreated from three-month highs on Monday, as investors locked in some profits following a strong rally last week on hopes of a post-coronavirus recovery.

The coronavirus pandemic has had a devastating impact on companies around the world, but in poorer emerging economies where balance sheets and credit ratings were already weak, the damage is looking particularly widespread.

Ryanair will not cancel flights to and from the United Kingdom despite the introduction of a 14-day quarantine for international travellers because thousands of Britons are still booking holidays, boss Michael O'Leary said on Monday.