Reuters Business News

Frederick Baba, a managing director at Goldman Sachs who is black, sent the following email to colleagues at the bank on June 2:

Investors eyeing a turnaround in the U.S. economy are piling into U.S. bank stocks even as some caution that positive stress test results and an abatement of loan losses will be needed to sustain a rally in the battered sector.

Another 1.9 million people filed for unemployment benefits for the first time last week, according to data released by the Labor Department on Thursday, marking 11 straight weeks in which millions of Americans have filed claims for jobless benefits.

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

A consortium of private equity firms KKR & Co Inc and Ampersand Capital Partners has approached Oxford Immunotec Global Plc , a medical diagnostics company that develops tests to identify tuberculosis, with a $400 million acquisition offer, people familiar with the matter said on Thursday.

Oil prices eased slightly on Friday as markets wait to see whether major producers will commit to an extension of record production cuts to support oil prices.

A federal judge on Thursday rejected Bernard Madoff's request to be released early from prison because he was dying of kidney failure, saying the swindler has never fully accepted responsibility for his massive, decades-long Ponzi scheme.

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

Asian stocks were set to hold tight ranges on Friday after a mixed Wall Street session and as investors awaited key U.S. jobs data while sustained hopes about a global economic recovery kept pressure on the safe-haven dollar.

Broadcom Inc on Thursday forecast current-quarter revenue with a midpoint slightly below analysts' estimates, in part caused by a delay at a "large North American mobile phone" customer that analysts believe is Apple Inc .

U.S. President Donald Trump on Thursday signed an executive order that gives federal agencies emergency powers to fast-track major energy and other infrastructure projects by overriding environmental permitting requirements.

A U.S. appeals court has blocked Bayer AG from selling an agricultural weed killer in the United States, the latest setback for a business already fighting an expensive legal battle over another product.

Uber Technologies Inc on Thursday launched a feature on its food delivery app Uber Eats that lets customers in the United States and Canada order from restaurants owned by black people and pay no delivery fees for those orders through 2020.

Telsa Inc Chief Executive Elon Musk on Thursday called for Amazon.com Inc to be broken up, after an author complained on social media about being unable to self-publish a book via the world's largest online retailer.

Gap Inc on Thursday reported a quarterly loss of nearly $1 billion as the apparel retailer was forced to close its stores due to the coronavirus outbreak, sending its shares down about 8% after market hours.

Slack Technologies Inc on Thursday posted slowing quarterly sales growth, disappointing investors who had expected a surge in demand for its workplace messaging app as companies rapidly adopt remote working tools and technology.

A consortium of private equity firms KKR & Co Inc and Ampersand Capital Partners has approached Oxford Immunotec Global Plc , a medical diagnostics company that develops tests to identify tuberculosis, with a $400 million acquisition offer, people familiar with the matter said on Thursday.

The S&P 500 lost ground on Thursday as investors took profits in advance of Friday's jobs report, ending a four-day rally driven by rising economic sentiment.

Luxury carmaker Bentley is cutting about 1,000 jobs in the United Kingdom amid the ongoing coronavirus outbreak, the BBC reported late on Thursday.

The number of Americans filing for unemployment benefits dropped below 2 million last week for the first time since mid-March, but remains astonishingly high as companies adjust to an environment that has been significantly changed by COVID-19.