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Reuters Business News
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Updated: 4 years 21 weeks ago
Take Five: Hong Kong takes center stage
China just concluded its closed-door annual meeting of parliament, the National People's Congress (NPC), with top officials making clear that employment is the top priority.
Categories: Business News
OPEC delivers three quarters of record oil cut in May: survey
OPEC oil output hit the lowest in two decades in May as Saudi Arabia and other members started to deliver a record supply cut, a Reuters survey found, although Nigeria and Iraq are laggards in making their share of the reduction.
Categories: Business News
Uber launches hourly ride booking option in some U.S. cities
Uber Technologies Inc on Friday said it would offer rides by the hour in some U.S. cities, a feature aimed at helping Americans with essential trips during the coronavirus pandemic.
Categories: Business News
We thought too big, Renault says as it axes 15,000 jobs in cost-cutting reboot
Renault acknowledged that its global ambitions had been unrealistic, announcing plans to cut about 15,000 jobs, shrink production and restructure French plants as it pressed the reset button and sought to banish the spectre of Carlos Ghosn.
Categories: Business News
Renault factory worker spared layoffs - for now
Giovanni Pili, a worker at a Renault factory in France, was on Friday savoring the fact that he was not laid off in a global shakeup at the carmaker, and trying not to think too much about the uncertain future facing his plant, and his industry.
Categories: Business News
Volkswagen says it will have full control of JAC-VW Chinese venture
German automaker Volkswagen will have full management control of its JAC-VW joint venture, the company's China CEO said on Friday.
Categories: Business News
Volkswagen pumps 2 billion euros into China electric vehicle bet
Volkswagen AG plans to boost its electric push in China, the world's biggest auto market, by pumping 2.1 billion euros in two Chinese electric vehicle players.
Categories: Business News
Danish state prosecutor drops investigation of Danske Bank auditor EY
Denmark's state prosecutor has dropped its investigation into whether accounting firm EY breached anti-money laundering laws in connection with its audit of Danske Bank , the Danish Business Authority said on Friday.
Categories: Business News
Futures hit by Sino-U.S. tensions at the end of strong month
U.S. stock futures dropped on Friday as investors braced for President Donald Trump's response to China's national security legislation for Hong Kong, threatening to take the shine off another month of strong gains for Wall Street.
Categories: Business News
German official sees Lufthansa bailout in reach, demands fairness
The Berlin government is likely to reach a deal with Brussels on a $10 billion government bailout of stricken airline Lufthansa , senior government official Thomas Jarzombek said on Friday, but stressed the German airline needed fair treatment.
Categories: Business News
EU's Vestager denies making Lufthansa bailout more difficult
EU antitrust chief Margrethe Vestager denied on Friday that she was putting hurdles in the way of Lufthansa's $10 billion government rescue, saying companies getting big capital injections from the state have to offset their competitive advantage.
Categories: Business News
'Intensive' talks on Lufthansa with EU Commission ongoing: Germany
Berlin is in intensive talks with the European Commission over a planned bailout for flagship German carrier Lufthansa , a government spokesman said on Friday.
Categories: Business News
As lockdowns ease, a Bronx nail salon plans a careful reopening
When Yahaira Caraballo opened her nail salon in the Bronx, New York nearly seven years ago, it was a bare-bones shop with two nail technicians.
Categories: Business News
Oil falls but remains set for biggest monthly gain in years
Oil prices were dragged sharply lower on Friday by weak U.S. fuel demand, fears of a second wave of coronavirus cases in South Korea and a worsening in U.S.-China relations, but were still on track for a hefty monthly gain.
Categories: Business News
Ukraine expects $5 billion IMF loan approval on June 5 - PM
Ukraine expects the International Monetary Fund (IMF) to approve a $5 billion (4.05 billion pounds) loan package at a board meeting on June 5 and the first tranche of $1.9 billion to be disbursed the following day, Prime Minister Denys Shmygal told Reuters on Friday.
Categories: Business News
SoftBank leads $500 million fundraising for Didi's self-driving unit
China's Didi Chuxing said on Friday it had completed a fundraising round of over $500 million for its autonomous driving subsidiary that was led by SoftBank Group's Vision Fund 2.
Categories: Business News
Japan backs nearly a third of $6.6 billion loans to Nissan: sources
The Japanese government has guaranteed almost a third of the 7l3 billion yen ($6.65 billion) in loans Nissan Motor Co has secured from its main lenders to weather the COVID-19 pandemic, according to three people with knowledge of the plans.
Categories: Business News
China says Canada is an accomplice of U.S. in Huawei case
China's foreign ministry said on Friday that Canada is an accomplice to the U.S. government's efforts to bring down Chinese tech giant Huawei and said Canada should immediate release Huawei executive Meng Wanzhou.
Categories: Business News
Canada's Huawei extradition ruling could unleash more Chinese backlash
A Canadian court ruling that could permit the extradition of a senior Huawei Technologies Co Ltd [HWT.UL] executive to the United States leaves Canada vulnerable to further retaliation from Beijing, analysts said.
Categories: Business News
Global stocks slip as investors await Trump's Hong Kong response
Global stock markets fell and safe havens such as bonds and the Japanese yen gained on Friday, as investors awaited Washington's response to China tightening control over the city of Hong Kong.
Categories: Business News
