Business News

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.

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.

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.

The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Friday:

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.

U.S. President Donald Trump on Friday threatened to impose tariffs on European Union cars if the bloc does not drop its tariff on American lobsters, naming White House trade adviser Peter Navarro the "lobster king" in charge of talks.

WeWork's Miguel McKelvey, who co-founded the troubled office-sharing start-up with Adam Neumann, will leave the company at the end of June.

Canada unexpectedly added almost 290,000 jobs in May as some provinces loosened COVID-19 restrictions on businesses, data showed on Friday, and there could be an even bigger improvement in June.

Oil prices rose on Friday after an unexpected fall in the May U.S. jobless rate and OPEC's decision to bring forward to Saturday discussions on whether to extend record production cuts.

Expectations that the global economy has dodged the worst-case coronavirus pandemic scenarios have led to a dramatic sell-off in U.S. government bonds from their record highs, pushing the yield curve to its steepest level since March.

Facebook Inc will start labeling Russian, Chinese and other state-controlled media organizations, and later this summer will block any ads from such outlets that target U.S. users, it said on Thursday.

U.S. President Donald Trump on Friday said Warren Buffett, often regarded as the world's greatest investor, made a mistake by recently exiting a multi-billion dollar investment in the airline industry.

Facebook Inc will start labeling Russian, Chinese and other state-controlled media organizations, and later this summer will block any ads from such outlets that target U.S. users, it said on Thursday.

Facebook Inc is making it harder to find user groups associated with the term "Boogaloo," which refers to a potential U.S. civil war or the collapse of civilization, the company said on Thursday.

A stand-off over undelivered passenger jets is intensifying after Airbus signalled it would sue airlines refusing to honour contracts in the face of the coronavirus crisis.

Canada has postponed its 3500MHz spectrum auction process by six months to allow telecoms companies to focus on providing essential services during COVID-19 pandemic, the innovation ministry said in a statement on Friday.

WeWork's Miguel McKelvey, who co-founded the troubled office-sharing start-up with Adam Neumann, will leave the company at the end of June.

India's Reliance Industries late on Friday said U.S. private equity fund Silver Lake and its co-investors will invest an additional 45.46 billion rupees ($601.40 million) in the company's digital unit Jio Platforms.

The U.S. state attorneys general investigating Alphabet Inc's Google for potential antitrust violations are leaning toward pushing for a breakup of its ad technology business as part of an expected suit, CNBC reported on Friday, citing sources.

Who needs expensive lunches at glitzy hotels and fancy restaurants to court investors for bond deals or the sale of new shares on the stock exchange?