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Reuters Business News
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Updated: 4 years 21 weeks ago
Ryanair's Lauda airline to close Vienna base, 300 jobs to go
Ryanair's Austrian airline Lauda on Friday said it would shut down its main Vienna base on May 29 with the loss of more than 300 jobs in Austria after it did not manage to agree new labour contracts with the union.
Categories: Business News
Amazon to hire 50,000 temp workers in India as lockdown boosts demand
Amazon.com Inc's India unit said it would hire 50,000 temporary workers to meet a surge in online shopping in the country, where customers have been stuck indoors for two months in a lockdown to fight the coronavirus outbreak.
Categories: Business News
Nissan considering 20,000 job cuts, mainly in Europe, developing nations: Kyodo
Nissan Motor Co is considering cutting 20,000 jobs from its global workforce, focusing on Europe and developing countries, Kyodo news reported on Friday, as the Japanese automaker struggles to recover from plunging car sales.
Categories: Business News
Banks pursue Luckin Coffee chairman's assets after loan default
The banks that lent $518 million to Luckin Coffee Chairman Charles Zhengyao Lu have started court proceedings to liquidate his private company, a government gazette for the British Virgin Islands showed.
Categories: Business News
Vodafone names Heineken's Van Boxmeer as new chairman
Vodafone , the world's second-biggest mobile operator, has recruited Jean-Francois Van Boxmeer, the current CEO of brewer Heineken , to succeed Gerard Kleisterlee as chairman from November this year.
Categories: Business News
China's biggest automaker expects domestic car sales to pick up in second quarter
China's biggest automaker SAIC Motor expects the nation's auto sales to post year-on-year growth in the second quarter due to recovering demand and supportive policies, its chairman said on Friday.
Categories: Business News
Trump visits Ford plant in politically crucial Michigan, leaves mask off for cameras
President Donald Trump traveled on Thursday to the crucial U.S. election battleground state of Michigan to visit a Ford Motor Co plant amid tensions with its Democratic governor during the coronavirus pandemic, opting not to wear a protective face mask for the cameras.
Categories: Business News
Roche buys U.S. gene sequencing tech company Stratos Genomics
Pharmaceutical group Roche has acquired U.S.-based Stratos Genomics to further develop DNA-based sequencing for diagnostic use, it said on Friday.
Categories: Business News
Why bond investors are willing to bet on money-losing Pemex after oil price crash
Mexico's state-owned oil company Petroleos Mexicanos has seen investor sentiment improve in recent weeks despite sky-high debts, a slump in demand and no clear direction about how the government will turn the money-losing driller around.
Categories: Business News
Rudderless after a rally, stock markets look for next catalyst
Global equity markets have shuffled up about 1% this month despite the world starting to re-open after the coronavirus-driven lockdowns and U.S. and European economic data showing glimmers of a recovery.
Categories: Business News
Australia's Wesfarmers to shut or rebrand over 100 Target stores in virus slump
Australian retail giant Wesfarmers Ltd said it will close or rebrand nearly two-thirds of its Target department stores and take one-off charges totalling up to A$650 million ($426 million) as it reels from the coronavirus fallout.
Categories: Business News
Oil drops after China abandons target for 2020 GDP amid coronavirus outbreak
Oil prices slumped on Friday after China's decision to omit an economic growth target for 2020 renewed concerns that the fallout from the coronavirus pandemic will continue to depress fuel demand in the world's second-largest oil user.
Categories: Business News
GM gradually restarts in Mexico as Lear Corp readies for return
General Motors Co said on Thursday it was gradually restarting the transmission and motor lines at its Mexican facilities in Silao and Ramos Arizpe, while U.S. auto parts maker Lear Corp also geared up for production.
Categories: Business News
Hong Kong leads Asian shares lower as Beijing readies new security law
Hong Kong shares tumbled on Friday after Beijing moved to impose a new security law on the city after last year's pro-democracy unrest, risking fresh protests and further straining fast-deteriorating U.S.-China ties.
Categories: Business News
Judgment on key aspect of Huawei CFO's extradition trial in Canada due next Wednesday
A decision on a key legal aspect of the trial over whether Huawei Technologies Chief Financial Officer Meng Wanzhou can be extradited to the United States from Canada will be announced next Wednesday, the British Columbia Supreme Court said on Thursday.
Categories: Business News
U.S. secures 300 million doses of potential AstraZeneca COVID-19 vaccine
The United States has secured almost a third of the first 1 billion doses planned for AstraZeneca's experimental COVID-19 vaccine by pledging up to $1.2 billion, as world powers scramble for medicines to get their economies back to work.
Categories: Business News
Facebook's Zuckerberg embraces remote work beyond Silicon Valley
Facebook Inc will permanently embrace remote work even after coronavirus lockdowns ease, Chief Executive Mark Zuckerberg said on Thursday, accelerating the tech sector's geographic diversification away from its home in Silicon Valley.
Categories: Business News
Proxy adviser ISS recommends vote 'against' executive pay at Alphabet
Institutional Shareholder Services (ISS) has recommended shareholders of Google-parent Alphabet Inc to vote "against" the company's proposed executive pay at its annual meet in June, according to a report seen by Reuters on Thursday.
Categories: Business News
SoftBank Group's sale of 5% telco unit stake to raise $2.9 billion
SoftBank Group Corp said on Friday its planned sale of 5% in its domestic telco SoftBank Corp would fetch 310.2 billion yen ($2.9 billion), as part of a programme to raise $41 billion through asset sales.
Categories: Business News
Nvidia forecasts sales above estimates, powered by data center results
Nvidia Corp on Thursday forecast second-quarter revenue above analysts' estimates, as demand surges for its chips used in the data centers that power the shift to working remotely because of the new coronavirus outbreak.
Categories: Business News
