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Business News

Reddit co-founder Ohanian resigns from board, wants a black candidate to take over

Reuters Business News - Fri, 2020-06-05 13:48
Reddit co-founder Alexis Ohanian on Friday resigned from the social network firm's board and sought to be replaced by a black candidate.
Categories: Business News

UPDATE 1-Indian travel firm Yatra scraps merger deal with U.S.-based Ebix

Reuters Company News - Fri, 2020-06-05 13:34
India's Yatra Online Inc said on Friday it was terminating a pending merger agreement with U.S. software firm Ebix Inc, and had filed a litigation seeking "substantial" damages for Ebix's alleged breach of deal terms.
Categories: Business News

Occidental Petroleum shuts in U.S. Gulf of Mexico production, evacuates workers

Reuters Company News - Fri, 2020-06-05 13:32
Occidental Petroleum Corp has shut in production at its central and eastern Gulf of Mexico facilities ahead of Tropical Storm Cristobal, the company said on Friday.
Categories: Business News

PG&E Corp preparing $11 billion debt financing: investor

Reuters Business News - Fri, 2020-06-05 13:25
California utility PG&E Corp is preparing an $11 billion debt-financing package as it prepares to exit from its bankruptcy, an investor involved with the company's funding plan said on Friday, sending its shares up more than 12%.
Categories: Business News

UPDATE 3-Twitter, Facebook disable Trump video tribute to Floyd over copyright complaint

Reuters Company News - Fri, 2020-06-05 13:24
Twitter Inc, Facebook Inc and Instagram disabled U.S. President Donald Trump's campaign tribute video to George Floyd on their platforms on Friday, citing copyright complaints.
Categories: Business News

UPDATE 1-PG&E Corp preparing $11 bln debt financing – investor

Reuters Company News - Fri, 2020-06-05 13:23
California utility PG&E Corp is preparing an $11 billion debt-financing package as it prepares to exit from its bankruptcy, an investor involved with the company's funding plan said on Friday, sending its shares up more than 12%.
Categories: Business News

Trump touts job gains as 'greatest comeback in American history'

Reuters Business News - Fri, 2020-06-05 13:05
President Donald Trump on Friday celebrated a stunning U.S. employment report that showed more than 2.5 million jobs were added last month during the thick of the coronavirus pandemic, and predicted the battered economy will recover all of its lost jobs by next year.
Categories: Business News

MassMutual explores sale of its retirement services business -sources

Reuters Company News - Fri, 2020-06-05 13:04
Massachusetts Mutual Life Insurance Company (MassMutual) is exploring a sale of its retirement services division, which has about $175 billion of assets under management and administration, people familiar with the matter said on Friday.
Categories: Business News

Ireland hopes to restart international travel later in the summer

Reuters Company News - Fri, 2020-06-05 12:57
Ireland is hopeful that it will be able to resume air travel to other European countries later in the summer, acting prime minister Leo Varadkar said on Friday.
Categories: Business News

GRAPHIC-Tech drives Nasdaq to all-time high as signs of recovery emerge from coronavirus pandemic

Reuters Company News - Fri, 2020-06-05 12:56
The heavyweight technology and growth stocks that drove Wall Street higher in recent years are again fueling a surge that has taken the Nasdaq from a brutal selloff to an intraday record high in just 11 weeks, as investors look beyond the economic upheaval caused by the coronavirus.
Categories: Business News

India's Yatra scraps merger deal with U.S. firm Ebix

Reuters Company News - Fri, 2020-06-05 12:49
Indian travel services company Yatra Online Inc said on Friday it is terminating its pending merger agreement with U.S. software firm Ebix Inc and filed a litigation over Ebix's breach of agreement terms.
Categories: Business News

Surprise U.S. unemployment rate drop leaves out blacks, Asians

Reuters Business News - Fri, 2020-06-05 12:40
The U.S. unemployment rate dropped unexpectedly in May, but not all workers benefited equally as joblessness among African Americans and Asians rose, signaling some minorities face a longer recovery as the economy slowly rebounds from the coronavirus shutdowns.
Categories: Business News

May's jobs report stunner: real deal or head fake?

Reuters Business News - Fri, 2020-06-05 12:34
The U.S. economy unexpectedly added jobs in May, surprising economists and analysts who had forecast millions more losing their livelihoods, and raising hopes of a faster economic recovery than expected.
Categories: Business News

Wall Street rallies to end higher on surprise U.S. jobs report

Reuters Business News - Fri, 2020-06-05 12:26
Wall Street surged on Friday after a strikingly upbeat May jobs report unexpectedly provided the clearest evidence yet that the U.S. economy is headed for a quicker-than-anticipated recovery.
Categories: Business News

US STOCKS-Wall Street rallies to end higher on surprise U.S. jobs report

Reuters Company News - Fri, 2020-06-05 12:24
* Indexes up: Dow 3.15%, S&P 500 2.62%, Nasdaq 2.06% (Updates with closing prices)
Categories: Business News

Equities surge, bonds tumble on surprise U.S. jobs gains

Reuters Business News - Fri, 2020-06-05 12:21
An unexpected jump in U.S. employment sent world equities and oil surging on hopes that the global economy has started to recover from the coronavirus pandemic, pulling investors out of perceived safe havens like government bonds and gold.
Categories: Business News

Trump opens Atlantic sanctuary to commercial fishing

Reuters Business News - Fri, 2020-06-05 12:16
President Donald Trump announced on Friday he will open up a 5,000 square mile conservation area in the Atlantic Ocean off the coast of New England to commercial fishing.
Categories: Business News

GLOBAL MARKETS-Equities surge, bonds tumble on surprise U.S. jobs gains

Reuters Company News - Fri, 2020-06-05 12:13
An unexpected jump in U.S. employment sent world equities and oil surging on hopes that the global economy has started to recover from the coronavirus pandemic, pulling investors out of perceived safe havens like government bonds and gold.
Categories: Business News

Powell spoke almost daily with Mnuchin in April

Reuters Company News - Fri, 2020-06-05 12:09
U.S. Federal Reserve Chair Jerome Powell spoke on an almost daily basis with Treasury Secretary Steven Mnuchin in April as the two officials scrambled to erect programs to soften the economic blow from the coronavirus pandemic, Fed records released Friday showed.
Categories: Business News

U.S. labor market unexpectedly improves; recovery years away

Reuters Business News - Fri, 2020-06-05 12:06
The U.S. economy unexpectedly added jobs in May after suffering record losses in the prior month, offering the clearest signal yet that the downturn triggered by the COVID-19 pandemic was probably over, though the road to recovery could be long.
Categories: Business News
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