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Reuters Business News
Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals.
Updated: 4 years 21 weeks ago
Wall Street plunges to close with biggest one-day loss since March 16
Wall Street plummeted on Thursday as investors reacted to renewed fears of a pandemic resurgence and digested dour economic forecasts from the U.S. Federal Reserve.
Categories: Business News
Air Canada CEO urges Trudeau's government to relax travel curbs: Bloomberg News
Air Canada Chief Executive Officer Calin Rovinescu on Thursday urged the Canadian government to relax travel restrictions as they have been hurting the company's sales, Bloomberg News reported.
Categories: Business News
Global stocks tumble, safe-haven assets rally on downbeat Fed outlook
Global equity markets fell sharply on Thursday in their worst sell-off since markets crashed in mid-March, while safe-haven assets rose after the Federal Reserve's sobering outlook cast doubt on hopes for a V-shaped recovery from the coronavirus pandemic.
Categories: Business News
U.S. states accuse 26 drugmakers of generic drug price fixing in sweeping lawsuit
Twenty-six drug manufacturers were sued on Wednesday by the attorneys general of most U.S. states and several territories, which accused them of conspiring to reduce competition and drive up generic drug prices.
Categories: Business News
Wall Street plunges to close with biggest one-day loss since mid-March
Wall Street plummeted on Thursday as investors reacted to renewed fears of a pandemic resurgence and digested dour economic forecasts from the U.S. Federal Reserve.
Categories: Business News
Microsoft bans police face recognition sales as Big Tech reacts to protests
Microsoft Corp on Thursday said it would await federal regulation before selling facial recognition to police departments, making it the latest big firm to back away from the surveillance business following protests against police brutality.
Categories: Business News
Google to ban targeting housing ads based on gender, age
Alphabet Inc's Google said on Thursday it was tackling unlawful discrimination by barring housing, employment and credit ads from being targeted to users based on their postal code, gender, age, parental status or marital status.
Categories: Business News
Zuckerberg's former aide Chris Cox returns to Facebook as product head
Facebook Inc's former chief product officer, Chris Cox, is returning to his role, according to his post https://www.facebook.com/photo.php?fbid=10105509261342903&set=a.692319249513&type=3&theater on the social media platform.
Categories: Business News
Oil prices slump 8% as virus-related demand concerns resurface
Oil prices tumbled about 8% a barrel on Thursday, fuelled by renewed concerns about demand destruction as new cases of coronavirus tick up globally, while crude inventories hit a record in the United States.
Categories: Business News
Yum sues Grubhub for allegedly violating delivery deal
Yum Brands Inc filed a lawsuit against Grubhub Inc on Thursday for allegedly violating terms of a food delivery deal, a day after Europe's Just Eat Takeaway.com agreed to buy the U.S. food delivery platform for $7.3 billion.
Categories: Business News
British Airways turns to Damien Hirst in its hour of need
British Airways will sell at least 10 works of art that normally hang in its executive lounges, a source said, turning to pieces by famous artists like Damien Hirst to raise millions of pounds to help it through the coronavirus pandemic.
Categories: Business News
Nestle explores sale of Pure Life in overhaul of water business
Nestle is exploring a potential sale of part of its North American water business, including the Pure Life brand, it said on Thursday, as the food giant shifts focus to better performing brands.
Categories: Business News
How Uber hailed a deal with Grubhub only to let it slip
Uber Technologies Inc CEO Dara Khosrowshahi has spent much of his career deftly negotiating acquisitions. Yet his $6.5 billion all-stock bid for Grubhub Inc ended with the food delivery company being acquired by European rival Just Eat Takeway.com NV.
Categories: Business News
Instant View: Wall Street backslides on economic gloom, uptick in virus cases
Wall Street indexes nosedived on Thursday, on track for their worst days since early in the coronavirus pandemic as investors reassessed a stocks resurgence after the Fed issued a gloomy growth forecast and infections showed signs of upswing.
Categories: Business News
Lloyds Bank fined $81 million for overcharging mortgage customers
Britain's biggest domestic bank Lloyds has been fined 64 million pounds ($81.2 million) by the Financial Conduct Authority for mistreating hundreds of thousands of mortgage customers in financial difficulties.
Categories: Business News
Uber, Lyft drivers are employees, says California regulator
Drivers working for ride-hailing services such as Uber Technologies Inc and Lyft Inc will be considered employees under California's new gig worker law, the state's leading industry regulator said on Thursday.
Categories: Business News
Comcast, media mogul Byron Allen reach carriage deal
Comcast Corp said on Thursday it reached a content carriage deal with comedian-turned media mogul Byron Allen, who withdrew a lawsuit about racial bias against channels owned by African Americans.
Categories: Business News
Stock market rally of hope pauses as virus worries mount
The reality that the coronavirus crisis is far from over is threatening a blistering equity market rally that had taken some world indexes to fresh highs.
Categories: Business News
Apple will increase spending with black-owned suppliers as part of $100 million racial justice effort
Apple Inc Chief Executive Tim Cook said on Thursday the iPhone maker will increase spending with black-owned partners in its supply chain and seek to increase minority representation among the firms it does business with.
Categories: Business News
Amazon may face EU antitrust charges over merchant data in coming weeks: source
Amazon may face EU antitrust charges in the coming weeks over its use of data from merchants with whom it competes on its platform, a person familiar with the matter said on Thursday, putting it at risk of a hefty fine.
Categories: Business News
