Reuters

Hong Kong's government will lead a near HK$30 billion ($3.9 billion) bailout package for Cathay Pacific Airways Ltd giving it two observer seats in the boardroom, the South China Morning Post reported on Tuesday, citing sources.

Oil prices climbed on Tuesday as the easing of coronavirus lockdown measures across the globe lifted trader hopes for a swift recovery in demand, though gains were capped by the spectre of persistent oversupply in the market.

A South Korean court on Tuesday denied an arrest warrant request for Samsung Group heir Jay Y. Lee after prosecutors accused him of accounting fraud and stock manipulation.

Hong Kong's government will lead a near HK$30 billion ($3.9 billion) bailout package for Cathay Pacific Airways Ltd giving it two observer seats in the boardroom, the South China Morning Post reported on Tuesday, citing sources.

Taiwan Semiconductor Manufacturing Co Ltd (TSMC) is still in talks with the U.S. government about subsidies for its new plant in Arizona, chairman Mark Liu said on Tuesday.

The U.S. units of China Telecom Corp’s and China Unicom urged the Federal Communications Commission (FCC) not to revoke the company's nearly two-decade old authorization to provide international telecommunications services to and from the United States.

Australia announced the biggest shakeup of its foreign investment laws in almost half a century on Friday, including giving the government the power to force the sale of a business if it creates a national security risk.

(This June 5 story corrects paragraph 6 to show stake in common facilities being sold)

International Business Machines Corp disclosed Monday it will no longer offer facial recognition or analysis software in a letter to Congress calling for new efforts to pursue justice and racial equity, new Chief Executive Officer Arvind Krishna said.

Asian stocks rallied for their ninth straight day on Tuesday and oil prices jumped as the lifting of coronavirus lockdowns in many countries fed investor hopes of a relatively quick global economic recovery.

Lawyers for the former Green Beret and son wanted by Japan for helping former Nissan Motor Co boss Carlos Ghosn flee the country on Monday argued U.S. authorities wrongly arrested them for aiding a crime that they say does not exist in Japan: bail jumping.

In May 2019, China's central bank announced a shock takeover of a lender, its first such move in 20 years, citing "serious credit risks". Creditors in small Baoshang Bank were to take a hit, assets would be sold and an example set for governance.

Taiwan Semiconductor Manufacturing Co Ltd's planned factory in the United States is "definitely in line with" the company's interests, Chairman Mark Liu told investors on Tuesday.

Oil prices climbed on Tuesday, paring losses from the previous session, as markets broadly rose on growing confidence in a global recovery with pandemic lockdowns easing.

Cathay Pacific Airways Ltd and its major shareholders Swire Pacific Ltd and Air China Ltd halted trading in their shares in Hong Kong on Tuesday pending announcements.

Hong Kong's Cathay Pacific Airways Ltd and its major shareholders Swire Pacific Ltd and Air China Ltd entered share trading halts in Hong Kong on Tuesday pending announcements.

Asian stocks were set to climb on Tuesday as confidence in an economic recovery pushed the Nasdaq benchmark to a record high, although doubts about crude supply cuts were likely to keep oil prices under pressure.

The Nasdaq posted a record closing high on Monday, becoming the first of the major indexes to confirm a new bull market, while the S&P 500 ended in positive territory for the year as expectations for a swift recovery from a coronavirus-driven downturn increased.

Macy's Inc said on Monday it raised a total of $4.5 billion, including $3.15 billion in new borrowings against its real estate assets, as the department store chain tries to navigate through the fallout from the COVID-19 pandemic.

Macy's Inc said on Monday it raised a total of $4.5 billion, including $3.15 billion in asset-based credit, as the department store chain tries to navigate through the fallout from the COVID-19 pandemic.