Reuters

Exclusive: Fiat, PSA merger hits EU roadblock, may need concessions - sources

Reuters Business News - Mon, 06/08/2020 - 11:38
Fiat Chrysler's planned $50 billion merger with Peugeot maker PSA has hit a bump after EU regulators voiced concerns about the companies' market share in small vans, indicating concessions may be required, sources said.
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AstraZeneca, Gilead merger doubted by Wall Street analysts

Reuters Business News - Mon, 06/08/2020 - 11:37
A merger between AstraZeneca and Gilead Sciences Inc is unlikely due to significant political hurdles, Wall Street analysts said on Monday after a Bloomberg report that the British drugmaker last month had contacted its U.S. rival about a deal.
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Wall Street marches higher on hopes of swift economic rebound

Reuters Business News - Mon, 06/08/2020 - 10:59
Wall Street's main indexes rose on Monday, building on last week's sharp gains after a surprisingly upbeat jobs report raised bets of a swift recovery from a coronavirus-driven downturn.
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U.S. consumers grew slightly more optimistic about jobs and earnings in May

Reuters Business News - Mon, 06/08/2020 - 10:14
U.S. consumers felt slightly more optimistic about their finances and job security in May as businesses began to reopen and rehire workers following the easing of coronavirus-related restrictions, according to a survey released on Monday by the New York Federal Reserve.
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Elanco wins conditional EU antitrust okay for $7.6 billion Bayer deal

Reuters Business News - Mon, 06/08/2020 - 10:06
Elanco Animal Health secured EU antitrust clearance on Monday to buy Bayer's veterinary drugs unit after pledging to sell some products to address competition concerns about the $7.6 billion deal.
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Factbox: Who's bidding to be next World Trade Organization chief?

Reuters Business News - Mon, 06/08/2020 - 09:41
The World Trade Organization (WTO) began the process on Monday of selecting a new director-general to replace Brazil's Roberto Azevedo, who is stepping down a year early at the end of August.
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S&P 500, Dow extend rally on hopes of swift economic rebound

Reuters Business News - Mon, 06/08/2020 - 09:40
Wall Street's major indexes rose on Monday, building on last week's sharp gains after a surprisingly upbeat jobs report raised bets of a swift recovery from a coronavirus-driven downturn.
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Austria strikes €450 million bailout deal for Lufthansa unit, sources say

Reuters Business News - Mon, 06/08/2020 - 09:38
Austria has agreed to a smaller than expected bailout package for Lufthansa unit Austrian Airlines of 450 million euros ($508 million) in loans and grants, people familiar with the matter said on Monday.
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Gilead shares rise on report of AstraZeneca's interest in megamerger

Reuters Business News - Mon, 06/08/2020 - 09:05
Shares of Gilead Sciences Inc rose as much as 3% on Monday after a report said the U.S. drugmaker had been approached by Britain's AstraZeneca for a possible merger to form one of the world's largest drug companies.
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British financier Staveley's $2 billion Barclays lawsuit hits High Court

Reuters Business News - Mon, 06/08/2020 - 08:52
British buinesswoman Amanda Staveley's private equity firm told London's High Court on Monday it had received a "substantially worse" deal than Qatar when its syndicate invested billions of pounds in Barclays during the financial crisis in 2008.
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Wall Street opens higher on economic rebound hopes

Reuters Business News - Mon, 06/08/2020 - 08:37
Wall Street's main indexes opened higher on Monday, building on last week's rally after a surprise rebound in jobs bolstered views that the U.S. economy has weathered the worst of the economic fallout from the COVID-19 pandemic.
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UK's quarantine will be quashed or dropped: Ryanair's O'Leary

Reuters Business News - Mon, 06/08/2020 - 08:25
The United Kingdom'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, Ryanair boss Michael O'Leary told Reuters.
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Exclusive: Oil major BP to cut 15% of workforce

Reuters Business News - Mon, 06/08/2020 - 08:14
BP will cut about 15% of its workforce in response to the coronavirus crisis and as part of Chief Executive Bernard Looney's plan to shift the oil and gas major to renewable energy, it said on Monday.
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Wall Street set to rise on swift economic rebound hopes

Reuters Business News - Mon, 06/08/2020 - 07:58
The S&P 500 and the Dow Jones indexes were set to rise on Monday, building on last week's sharp gains after a surprise rebound in jobs strengthened views that the U.S. economy has weathered the worst of the economic fallout from the COVID-19 pandemic.
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Austria strikes €450 million bailout deal for Lufthansa unit: sources

Reuters Business News - Mon, 06/08/2020 - 07:48
Austria has agreed to a smaller-than-expected bailout package for Lufthansa unit Austrian Airlines of 450 million euros ($508 million) in loans and grants, people familiar with the matter said on Monday.
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Austria's Kurz to hold news conference on Austrian Airlines at 1500 GMT

Reuters Business News - Mon, 06/08/2020 - 07:47
Austrian Chancellor Sebastian Kurz, Vice Chancellor Werner Kogler and Finance Minister Gernot Bluemel will hold a news conference on Lufthansa unit Austrian Airlines at 5 p.m. (1500 GMT), the government said in a statement on Monday.
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Gilead shares rise 5% on report of AstraZeneca's interest in megamerger

Reuters Business News - Mon, 06/08/2020 - 07:14
Shares of U.S. drugmaker Gilead Sciences Inc rose over 5% in premarket trading on Monday after a report it had been approached by Britain's AstraZeneca for a possible merger to form one of the world's largest drug companies.
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Ryanair boss sees UK quarantine dropped or quashed by end-June

Reuters Business News - Mon, 06/08/2020 - 07:00
Ryanair believes Britain's courts will either strike down a 14-day quarantine for international travellers this week or the government will drop the measure before the end of June, boss Michael O'Leary told Reuters on Monday.
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Austria strikes 450 mln eur bailout deal for Lufthansa unit: sources

Reuters Business News - Mon, 06/08/2020 - 06:58
Austria has agreed to a smaller-than-expected bailout package for Lufthansa unit Austrian Airlines of 450 million euros ($508 million) in loans and grants, people familiar with the matter said on Monday.
Categories: Reuters

Exclusive: BP to cut 15% of workforce - sources

Reuters Business News - Mon, 06/08/2020 - 06:57
BP plans to cut about 15% of its workforce in response to the coronavirus crisis and as part of Chief Executive Bernard Looney's plan to shift the oil and gas major to renewable energy, company sources told Reuters on Monday.
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