Business News

Shares of Legend Biotech, a cell therapy unit owned by Hong Kong-listed Genscript Biotech , jumped nearly 61% in their stock market debut, signaling strong investor appetite for new listings.

The Turkish Central Bank said on Friday it will reallocate 20 billion lira ($2.95 billion) of a previously disclosed 60 billion lira rediscount credit facility as advance loans against investment commitment.

Brazil produced more cars than Mexico in May, reversing normal patterns as Latin America's top carmaking countries slowly restarted auto factories in the face of the coronavirus crisis.

Citigroup Inc said on Friday that 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.

A stand-off between airplane manufacturers and airlines over the coronavirus crisis is intensifying after Airbus signalled it would sue airlines that refuse to honour contracts.

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

Shares of payments technology company Shift4 Payments Inc jumped nearly 44% in their U.S. market debut on Friday, at a time when online transactions are seeing a jump amid coronavirus-led lockdowns.

* Indexes up: Dow 3.31%, S&P 500 2.63%, Nasdaq 1.91% (Adds comments, updates prices throughout)

Online used car seller Vroom Inc on Friday increased the target range for its U.S. initial public offering, looking to raise up to $375 million, as the IPO market gathers steam after the COVID-19 pandemic put several debuts on hold.

A Chevron Corp crude oil cargo has become embroiled in U.S. sanctions on shipping companies for violating restrictions on doing business with Venezuela, the company confirmed on Friday.

Britain's high-street restaurant chains Bella Italia, Cafe Rouge and Las Iguanas could see around 30% of their outlets cut, two sources told Reuters, as their owner pushes ahead with talks to sell the businesses stricken by the COVID-19 crisis.

WeWork co-founder Miguel McKelvey will leave the office space-sharing firm at the end of June, a company spokesman said on Friday.

Airbus is ready to sue airlines that refuse to honour contracts to take aircraft, its chief executive was quoted on Friday as saying, raising the stakes in a stand-off between some manufacturers and airlines over the corornavirus crisis.

Volkswagen on Friday said it had resumed deliveries of its newest Golf model after voluntarily halting sales in mid-May.

U.S. President Donald Trump said on Friday he views the Phase 1 trade deal inked between the United States and China differently in the wake of the coronavirus pandemic.

French luxury goods giant is not asking to renegotiate its $16.2-billion acquisition of U.S. jewelry chain Tiffany & Co after deliberating whether to do so, people familiar with the matter said on Friday.

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.

U.S. stock indexes jumped on Friday, with the Nasdaq Composite less than 1% away from a record high, after a closely watched report showed surprise job additions in May, lending weight to hopes of a faster economic rebound from a coronavirus-led slump.

Volkswagen has completed an internal report into how it came to publish a racist advert, the German carmaker said on Friday, adding that its findings will be released once its management board has reviewed the matter.

The U.S. unemployment rate unexpectedly fell in May and layoffs abated, the Labor Department said on Friday in a report that showed the latest signs the economic downturn caused by the COVID-19 pandemic was bottoming.