Reuters

Mitsubishi Motors Corp posted on Tuesday an 89% drop in annual operating profit for its weakest performance in three years and skipped the year-end dividend, as the coronavirus outbreak added to the Japanese automaker's profitability woes.

Nasdaq Inc is set to unveil new restrictions on initial public offerings (IPOs), a move that will make it harder for some Chinese companies to debut on its stock exchange, people familiar with the matter said on Monday.

Abu Dhabi's Etihad Airways has laid off hundreds of employees this month, including cabin crew, after the coronavirus pandemic forced it to ground flights, according to industry and company sources.

Mitsubishi Motors Corp on Tuesday posted an 89% drop in annual operating profit in the year ended March as the Japanese automaker took a hit from falling vehicle sales as the coronavirus pandemic takes its toll on global demand for cars.

Thyssenkrupp's CEO on Tuesday said there were no taboos in plans to consolidate its steel unit, marking a break with tradition under which the business had been sacrosanct for centuries.

The auto industry represents a significant share of Italy's economy and it is right to support those who create jobs, Deputy Economy Minister Laura Castelli said when asked about Fiat Chrysler's request for state-backed loans.

U.S. electric vehicle maker Tesla Inc suffered a slump of 64% in car registrations in China in April on the month, data from auto consultancy LMC Automotive showed.

Businesses in the San Francisco Bay Area may open for curbside retail and manufacturing, while fan-free professional sports events might be allowed as soon as June, as California continued to loosen coronavirus health restrictions on Monday.

The United States has overtaken China as the most attractive country in the world for renewables investment and the global clean energy sector is expected to bounce back quickly despite the coronavirus pandemic, research showed on Tuesday.

Worldwide electric car registrations are set to fall 18% this year, but those of combustion engine cars are set to drop even faster, analysts BloombergNEF (BNEF) said on Tuesday, as the automotive sector is hammered by the coronavirus crisis.

In the eastern Chinese city of Yuyao, a group of five face-masked workers at a Geely auto plant, stood almost shoulder to shoulder behind an SUV as they conducted paint and other quality checks.

Oil prices rose for a fourth straight session on Tuesday amid signs that producers are cutting output as promised just as demand picks up, stoked by more countries easing out of curbs imposed to counter the coronavirus pandemic.

The auto industry represents a significant share of Italy's economy and it's right to support those who create jobs in the country, Deputy Economy Minister Laura Castelli said when asked about Fiat Chrysler's request for state-backed loans.

Swiss regulators have requested electronic messaging data from the mobile phones of several Credit Suisse managers and supervisory board directors as part of a probe into spying at the bank, three people familiar with the matter said.

Asian shares extended gains on Tuesday as more countries emerged from their economic lockdowns and a successful early-stage trial of a coronavirus vaccine cheered sentiment, although oil shed some of its early moves higher.

Risk managers expect a prolonged global recession as a result of the coronavirus pandemic, a report by the World Economic Forum showed on Tuesday.

Money trumped spying as the top motivator for data breaches last year, according to Verizon's annual report on cyber crimes published on Tuesday.

Oil prices were mixed on Tuesday, with Brent pulling back from an early gain on profit-taking, while U.S. crude extended its rally amid signs that producers are cutting output as promised just as demand picks up on a resumption of economic activity.

Asian shares jumped on Tuesday and oil extended gains on optimism the global economy would recover quickly following a successful early-stage trial of a coronavirus vaccine, while the euro hovered near a two-week top.

Moderna Inc's experimental COVID-19 vaccine, the first to be tested in the United States, produced protective antibodies in a small group of healthy volunteers, according to very early data released by the biotech company on Monday.