Reuters

General Electric Co said on Monday it reopened portions of its prior debt offerings for $3 billion in total proceeds to boost its cash reserves amid the coronavirus crisis.

Global equity markets surged on Monday, with the Nasdaq hitting a record high on hopes of a quick recovery from the coronavirus slump, while oil slid after Saudi Arabia said new output cuts by producer nations would not include extra cuts by three Gulf countries.

The Nasdaq hit a record high close on Monday, becoming the first of the major indexes to confirm a new bull market, and the Dow and S&P 500 jumped as expectations for a swift recovery from a coronavirus-driven downturn increased.

The U.S. economy ended its longest expansion in history in February and entered recession as a result of the coronavirus pandemic, the private economics research group that acts as the arbiter for determining U.S. business cycles said on Monday.

On the same day that the Nasdaq marked a new bull market, the U.S. economy was officially declared to be in a recession. The two milestones on Monday illustrate how an 11-week surge in stocks has occurred despite widespread economic devastation fueled by the coronavirus pandemic.

U.S. stocks rose on Monday with the Nasdaq hitting a new intraday high after a surprisingly upbeat jobs report last week raised expectations of a swift recovery from a coronavirus-driven downturn.

JetBlue Airways Corp expects to fly about half of its original schedule in July, up from about 25% to 30% in June, and a bit more in August as leisure demand begins to recover, Chief Executive Robin Hayes told CNBC in an interview on Monday.

A gauge of global equity markets rose on Monday on hopes of a fast recovery from the coronavirus economic slump while oil slid after Saudi Arabia said an extension of output cuts by producer nations would not include extra cuts by three Gulf countries.

California-based power provider PG&E Corp said on Monday it plans to raise $5.75 billion from public offerings as it tries to emerge from Chapter 11 bankruptcy by the end of this month.

Ryanair boss Michael O'Leary said he believed Britain's coronavirus quarantine will be struck down by the courts or dropped within weeks as some of Europe's biggest airlines prepare to file a legal challenge by the end of Tuesday.

Nestle SA is selling the North American business of its Buitoni pasta brand to private-equity firm Brynwood Partners, the Swiss food group said on Monday.

Dunkin', a unit of Dunkin' Brands Group Inc , said on Monday its franchisees are seeking to hire up to 25,000 workers as it prepares for higher demand, with U.S. states reopening after months-long lockdowns to contain the spread of the novel coronavirus.

The Nasdaq Composite Index rose to a new high on Monday, and looks on track to confirm that it was the first of Wall Street's main indexes to enter a bull market two and a half months ago, after Wall Street's nosedive on worries about the novel coronavirus.

Volkswagen Chief Executive Herbert Diess may lose responsibility for managing the company's core VW brand at an extraordinary supervisory board meeting due to be held on Monday, sources familiar with the matter told Reuters.

Volkswagen said Stefan Sommer, group board member for procurement and components, will leave the company on June 30, 2020 as part of a broader management reshuffle.

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, the court spokesperson said in a statement.

U.S. stocks rose on Monday, with the Nasdaq hitting a record high for the second straight session, after a surprisingly upbeat jobs report last week raised bets of a swift recovery from a coronavirus-driven downturn.

Austria is granting Lufthansa's Austrian Airlines unit a 450 million euro ($508 million) bailout that will protect Vienna as a transit hub and safeguard "the bulk" of the flag carrier's 7,000 jobs, the government said on Monday.

Volkswagen on Monday named Ralf Brandstaetter as the new chief executive (CEO) of its core VW car brand, replacing Herbert Diess, who retains his title as head of Volkswagen Group, the carmaker said.

The U.S. economy ended its longest expansion in history in February and entered recession as a result of the coronavirus pandemic, the private economics research group that acts as the arbiter for determining U.S. business cycles said on Monday.