Business News

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?

The United States is considering imposing sanctions on dozens of additional foreign oil tankers for trading with Venezuela, a U.S. official told Reuters on Friday.

Grubhub Inc has received takeover interest from at least two European companies, Delivery Hero SE and Just Eat Takeaway.com NV, CNBC reported https://cnb.cx/2XBcfrR on Friday, citing people familiar with the matter.

Companies working on self-driving vehicles have criticized an insurance industry study suggesting that only a third of all U.S. road crashes could be prevented by driverless cars, arguing that the study has underestimated the technology's capabilities.

* Airbus issues default notices to multiple carriers - sources

* Indexes up: Dow 3.39%, S&P 500 2.81%, Nasdaq 2.16% (Updates to late afternoon, changes dateline, byline)

United Airlines Holdings Inc is closing three out of four international bases for flight attendants, according to an internal memo seen by Reuters, saying it is not able to sustain the bases in the current environment.

Canada postponed its 3500 MHz 5G 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.

AstraZeneca's cancer drug Calquence has shown initial signs of helping hospitalised COVID-19 patients get through the worst of the disease, as researchers scramble to repurpose existing treatments to help fight the deadly infection.

Facebook Inc said on Friday it had seen no evidence of coordinated foreign interference on its platforms targeting U.S. anti-racism protests, after the U.S. attorney general said foreign groups were trying to exacerbate the situation.

* Hugo Boss jumps after confirming talks for new CEO (Updates to market close)

Facebook Inc said on Friday it had not seen evidence of coordinated foreign interference targeting the U.S. protests spurred by the police killing of George Floyd, an unarmed black man.

Citigroup Inc said on Friday it would "proactively" close some branches and reduce hours at others in light of protests around the country in response to the death of George Floyd that have at times turned violent.

WeWork co-founder Miguel McKelvey will leave the company at the end of June, a spokesman for the troubled office-sharing start-up said on Friday.

Royal Dutch Shell Plc said on Friday there has been no impact to offshore oil production from Tropical Storm Cristobal, but it expects a minimal impact to drilling.

Ford Motor Co is re-evaluating how much office space it needs for white-collar workers as restrictions put in place during the coronavirus pandemic are eased and employees return to workplaces.

Shares of online grocery firm Dada Nexus Ltd jumped 14.3% in their stock market debut amid intense scrutiny of Chinese companies pursuing U.S. listings.

Copper prices surged on Friday to the highest in 13 weeks as an unexpected increase in U.S. employment in May fuelled hopes of a revival of global economic activity.

The U.S. Transportation Department said on Friday it will allow Chinese passenger air carriers to operate two flights per week after Beijing said it would ease coronavirus restrictions to allow in more foreign carriers.

An unexpected jump in U.S. employment sent world equities 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.