Reuters

U.S. layoffs abating, labor market distress persists

Reuters Business News - Thu, 06/11/2020 - 11:02
The number of Americans seeking jobless benefits fell last week, but millions laid off because of COVID-19 continue to receive unemployment checks, suggesting the labor market could take years to heal from the pandemic even as hiring resumes.
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U.S. EPA orders Amazon, Ebay to remove unsafe products that cash in on pandemic fears

Reuters Business News - Thu, 06/11/2020 - 10:53
The U.S. Environmental Protection Agency (EPA) said on Thursday that it ordered Amazon.com Inc and eBay Inc to stop selling a wide range of pesticide products on their platforms, including those that are falsely marketed as being effective against the novel coronavirus.
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Zoom suspends U.S.-based activists' account after Tiananmen event

Reuters Business News - Thu, 06/11/2020 - 10:38
Zoom Video Communications temporarily shut the account belonging to a group of U.S.-based Chinese activists after they held an event to commemorate the 31st anniversary of China's Tiananmen Square crackdown, the activists said on Thursday.
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Just Eat Takeaway's $6 billion Grubhub grab tests growth limits

Reuters Business News - Thu, 06/11/2020 - 10:30
Just Eat Takeaway said on Thursday its proposed $6 billion takeover of Grubhub to create a trans-Atlantic giant would give it the upper hand in the online food delivery market, where competitors are scrambling for share.
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Europe's Just Eat Takeaway to buy Grubhub for $7.3 billion

Reuters Business News - Thu, 06/11/2020 - 10:28
European food-ordering firm Just Eat Takeaway.com NV said on Wednesday it had agreed to buy U.S. peer Grubhub Inc in an all-stock deal that, if completed, would create the world's largest food delivery company outside China.
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Moderna to start final testing stage of coronavirus vaccine in July

Reuters Business News - Thu, 06/11/2020 - 10:26
Moderna Inc on Thursday confirmed it plans to start a trial of 30,000 volunteers of its much-anticipated coronavirus vaccine in July as the company enters the final stage of testing.
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S&P 500 falls 3% on new virus wave fears, Fed's cautious outlook

Reuters Business News - Thu, 06/11/2020 - 10:19
U.S. stocks extended losses on Thursday, with the S&P 500 on track for its sharpest percentage decline since April 1, as investors worried about a second wave of coronavirus infections and a grim economic forecast from the Federal Reserve.
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U.S. cannot shut down economy again, Treasury's Mnuchin says

Reuters Business News - Thu, 06/11/2020 - 09:49
The United States cannot let the coronavirus shut down its economy again, U.S. Treasury Secretary Steven Mnuchin said on Thursday, adding that more than $1 trillion in rescue funds will flow into the economy over the next month.
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Delta rolling out COVID-19 testing for all employees

Reuters Business News - Thu, 06/11/2020 - 09:48
Delta Air Lines Inc next week is launching a program to test employees for active COVID-19 and antibodies under a partnership with the Mayo Clinic and Quest Diagnostics Inc, Chief Executive Ed Bastian said in an employee memo on Thursday.
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Wall Street lower on fears of new virus wave, Fed's cautious outlook

Reuters Business News - Thu, 06/11/2020 - 09:36
The S&P 500 and the Dow Jones hit a one-week low on Thursday, after a sharp climb over the past month, as investors worried about a second wave of coronavirus infections and a grim forecast for the economy from the Federal Reserve.
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PayPal pledges over $500 million to support minority-owned U.S. businesses

Reuters Business News - Thu, 06/11/2020 - 09:23
PayPal Holdings Inc said on Thursday it was pledging $530 million to support black and minority-owned businesses in the United States and foster diversity, amid worldwide protests over racial injustice.
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VW blames cultural insensitivity for ad criticised as 'racist'

Reuters Business News - Thu, 06/11/2020 - 09:13
Volkswagen on Thursday apologised for posting on its Instagram page last month an advert widely criticised as "racist", and said it was published because of a lack of cultural sensitivity.
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Oil prices set for worst daily drop since April on inventories, bearish Fed

Reuters Business News - Thu, 06/11/2020 - 08:59
Oil prices slumped on Thursday, dragged down by another record build-up in U.S. crude inventories and the U.S. Federal Reserve's projections that the world's biggest economy would shrink 6.5% this year.
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Wall Street slides at open on fears of second virus wave

Reuters Business News - Thu, 06/11/2020 - 08:53
U.S. stocks opened sharply lower on Thursday with the Nasdaq falling after a four-day rally on fears of a second wave of coronavirus infections and a grim economic forecast from the Federal Reserve.
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Japan's Takeda to sell some Asia-focused drugs to Celltrion for $278 million

Reuters Business News - Thu, 06/11/2020 - 08:26
Takeda Pharmaceutical Co Ltd has agreed to sell a portfolio of over-the-counter and prescription drugs marketed in the Asia Pacific region to South Korea's Celltrion Inc for $278 million, it said on Thursday
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Exclusive: Pershing Square's Ackman eyes $1 billion-plus 'blank-check' company - sources

Reuters Business News - Thu, 06/11/2020 - 07:57
Billionaire investor William Ackman's hedge fund Pershing Square Capital Management has filed confidentially with U.S. regulators for an initial public offering (IPO) of a blank-check investment vehicle that could raise more than $1 billion and be the biggest of its kind, according to people familiar with the matter.
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Futures drop on fears of second virus wave, bleak economic view

Reuters Business News - Thu, 06/11/2020 - 07:51
U.S. stock futures fell sharply on Thursday on jitters over a second wave of coronavirus infections and a grim forecast for the economy from the Federal Reserve.
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U.S. weekly jobless claims fall, but millions still unemployed

Reuters Business News - Thu, 06/11/2020 - 07:39
Layoffs in the United States are abating, but millions who lost their jobs because of COVID-19 continue to draw unemployment benefits, suggesting the labor market could take years to heal from the pandemic even as businesses resume hiring workers.
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Oil prices hit by record U.S. crude inventories, bearish Fed

Reuters Business News - Thu, 06/11/2020 - 07:34
Oil prices fell on Thursday, hit by another record build-up in U.S. crude inventories and the U.S. Federal Reserve's projections that the world's biggest economy would shrink 6.5% this year.
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Factbox: Unilever's bid to end Anglo-Dutch dual-headed structure

Reuters Business News - Thu, 06/11/2020 - 07:27
Anglo-Dutch Unilever plans to become a single holding company based in Britain, unwinding a dual-headed structure which has been in place for 90 years.
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