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Reuters Business News
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Updated: 4 years 21 weeks ago
U.S. says former eBay workers sent live roaches, bloody pig mask to intimidate critics
Six former eBay Inc employees have been criminally charged with mounting a cyberstalking campaign against a Massachusetts couple whose online newsletter they viewed as critical of the e-commerce company, U.S. prosecutors announced on Monday.
Categories: Business News
Lufthansa shareholder Thiele raps bailout deal, raises stake
German investor Heinz Hermann Thiele sharply criticised a 9-billion-euro ($10.14 billion) bailout deal for carrier Lufthansa , saying he had raised his stake in the group to more than 15% and hoped alternative options could be explored.
Categories: Business News
Ex-Tommy Hilfiger boss Grieder to become new Hugo Boss CEO
German fashion house Hugo Boss has appointed former Tommy Hilfiger boss Daniel Grieder as its next chief executive, it said on Tuesday.
Categories: Business News
Did elite David Boies law firm get a pandemic bailout? It's a secret
When the U.S. government announced a multibillion-dollar bailout of struggling small businesses amid the coronavirus pandemic, one of the top U.S. law firms sensed an opportunity.
Categories: Business News
Appeals court sides with exchanges in U.S. SEC fee row
A U.S. appeals court ruled on Tuesday that the Securities and Exchange Commission cannot force stock exchanges to conduct a costly experiment to see how the fees they charge and the incentives they offer affect brokers' trading habits.
Categories: Business News
U.S senators introduce bill to reform aircraft certification after 737 MAX crashes
A bipartisan group of U.S. senators introduced a bill on Tuesday to reform aircraft certification following two fatal Boeing Co 737 MAX crashes, lawmakers said in a statement.
Categories: Business News
Hilton to cut 2,100 corporate jobs globally
Hotel chain Hilton Worldwide Holdings Inc said on Tuesday it would cut about 22% of its corporate workforce, or 2,100 jobs, following the coronavirus outbreak that has ravaged the global travel industry.
Categories: Business News
China keen to seek benefits from pandemic, distressed U.S. assets: report
U.S. lawmakers and policymakers should be wary of China's moves to target vulnerable U.S. assets and expand its market share in the wake of the global economic crisis triggered by the novel coronavirus, according to a study prepared for a U.S. trade group and released on Tuesday.
Categories: Business News
Exclusive: Chesapeake Energy to file for bankruptcy as soon as this week - sources
Chesapeake Energy Corp is preparing to file for bankruptcy as soon as this week, said three people familiar with the matter, becoming the largest oil and gas producer to unravel after an energy market rout caused by the coronavirus outbreak.
Categories: Business News
Fed corporate bond move relieves potential stigma for companies, say investors
The New York Federal Reserve's planned launch on Tuesday of a bond-buying facility could help ease the potential stigma for companies of asking for help and create an important framework for what the central bank steps in to purchase, analysts and investors said.
Categories: Business News
U.S. economy starts long recovery as retail sales post record jump
U.S. retail sales increased by the most on record in May after two straight months of sharp declines as businesses reopened, offering more evidence that the recession triggered by the COVID-19 pandemic was over or drawing to an end.
Categories: Business News
Wall Street jumps as May retail sales boost hopes of swift recovery
U.S. stocks advanced on Tuesday after a record surge in May retail sales revived hopes of a swift post-pandemic economic rebound, with sentiment also lifted by data showing reduced COVID-19 death rates in a trial of a generic steroid drug.
Categories: Business News
Volkswagen to pay $267 million for Audi buyout
Volkswagen will pay a 48% premium to buy out the minority shareholders of premium division Audi , Audi said on Tuesday.
Categories: Business News
Apple's App Store, Apple Pay targeted by EU antitrust regulators
Apple is being investigated by EU antitrust regulators over its App Store and mobile payment system Apple Pay as the bloc turns up the heat on gatekeepers of online platforms on which thousands of companies depend for business.
Categories: Business News
Oil prices rise as Wall Street rallies, demand improves
Oil prices rose on Tuesday as Wall Street surged and the International Energy Agency (IEA) increased its oil demand forecast for 2020, but gains were capped by worries about a second wave of coronavirus cases.
Categories: Business News
U.S. economic recovery hinges on virus being under control, Fed's Powell says
A full U.S. economic recovery will not occur until the American people are sure that the novel coronavirus epidemic has been brought under control, Federal Reserve Chair Jerome Powell said on Tuesday as he began the first of two days of hearings before U.S. lawmakers.
Categories: Business News
Instant View: Powell: No U.S. growth recovery until epidemic controlled
A full U.S. economic recovery will not occur until the American people are sure that the novel coronavirus epidemic has been brought under control, Federal Reserve Chair Jerome Powell said on Tuesday as he began the first of two days of hearings before U.S. lawmakers.
Categories: Business News
European airlines face longer haul to recovery
A patchwork of national restrictions and a reluctance among travellers to cross borders mean European airlines face a bumpier return to the skies from coronavirus lockdowns than U.S. and Asian rivals.
Categories: Business News
U.S. business inventories drop more than expected
U.S. business inventories fell more than expected in April as the COVID-19 crisis depressed imports, suggesting inventory investment could again be a drag on economic output in the second quarter.
Categories: Business News
New York area business activity shows signs of improvement in June
Business conditions in the New York region began to show signs of improvement in June, and companies have started bringing their staff back to work and feel slightly more optimistic about the near-term future, according to a report released Tuesday by the New York Federal Reserve.
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