Business News

The U.S. Transportation Department plans to issue a revised order in the coming days that is likely to allow some Chinese passenger airline flights to continue, government and airline officials said.

The Nasdaq 100 index retreated from an intraday record high on Thursday, with the S&P 500 and Dow Jones indexes also slipping as a rally fueled by hopes of a post-coronavirus economic recovery fizzled out.

Canadian oil producers sideswiped by economic damage from the coronavirus pandemic have received no federal loans, seven weeks after the first lending program was announced, government and industry officials said on Thursday.

U.S. Secretary of State Mike Pompeo is set warn American investors on Thursday against 'fraudulent' accounting practices of China-based companies, and suggest the Nasdaq's recent decision to tighten listing rules for such players should be a model for all other exchanges around the world.

* American Airlines rises on plans to boost U.S. flights in July

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

Germany has become the second major European economy to use a multi-billion-euro recovery plan to spur clean driving, with incentives for electric cars that should boost Volkswagen and Tesla , while polluting SUVs face higher taxes.

* All fuel stations required to provide electric car charging

State-backed hackers from China and Iran have recently targeted the email accounts of staffers working on the U.S. presidential campaigns of Joe Biden and Donald Trump, respectively, a senior Google security official said Thursday.

The combined wealth of America's billionaires, including Amazon.com Inc founder Jeff Bezos and Facebook Inc CEO Mark Zuckerberg, jumped over 19% or by half a trillion since the onset of the COVID-19 pandemic in the United States, according to a report published by the Institute for Policy Studies (IPS).

American Airlines Group Inc shares jumped by 25% after it said Thursday it will significantly boost its U.S. flight schedule next month after dramatic reductions caused by the coronavirus pandemic, flying more than 55% of its July 2019 domestic capacity.

Oil prices fell on Thursday on doubts over the ability of top crude producers to agree to extend record output cuts, heightened by worries over a build in U.S. fuel inventories.

A 6.3 billion euro ($7 billion) state-backed loan for Fiat Chrysler (FCA) , financed by Intesa Sanpaolo , is crucial in terms of safeguarding Italy's economy, the head of the country's biggest retail bank said.

Fiat Chrysler will file regular reports on its use of a multi-billion euro state-backed loan which Italy is set to approve soon and will face sanctions if it does not respect commitments attached to the package, the economy minister said.

Impossible Foods said on Thursday it will sell plant-based meat burgers in the United States directly to consumers through its own website, as demand for vegan alternatives surge amid rising beef prices due to the COVID-19 pandemic.

The Canadian economy is showing green shoots with reports on home sales, consumer spending and new job postings trending upwards after the coronavirus pandemic forced shutdowns and caused a record plunge in economic activity.

The European Central Bank approved a bigger-than-expected expansion of its stimulus package on Thursday to prop up an economy plunged by the coronavirus pandemic into its worst recession since World War Two.

Following is the statement from the European Central Bank following its policy meeting.

The European Central Bank beefed up its bond-buying programme on Thursday in its latest effort to support a euro zone economy pummelled by more than two months of shutdowns due to the coronavirus pandemic.

The European Central Bank expects the euro zone to suffer a deep recession this year, with losses only partly made up in 2021 as pandemic-related restrictions weigh on output for an extended period.