Reuters

Google is sued in U.S. for tracking users' 'private' internet browsing

Reuters Business News - Tue, 06/02/2020 - 17:09
Google was sued on Tuesday in a proposed class action accusing the internet search company of illegally invading the privacy of millions of users by tracking their internet use from browsers set in "private" browsing mode.
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Rental fleet collapse drags down U.S. vehicle sales

Reuters Business News - Tue, 06/02/2020 - 17:00
The collapse in demand for new vehicles from U.S. rental car fleets hit automakers hard in May, even as consumer sales were stronger than expected as coronavirus stay-at-home orders began to ease.
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Zoom doubles forecast for full-year revenue on remote-work boost

Reuters Business News - Tue, 06/02/2020 - 16:41
Zoom Video Communications Inc nearly doubled its expectations for annual sales on Tuesday, driven by a surge in users as more people work from home and connect with friends online during coronavirus lockdowns.
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Twitter names ex-Google CFO Patrick Pichette chairman

Reuters Business News - Tue, 06/02/2020 - 16:38
Twitter Inc said on Tuesday that it appointed Patrick Pichette, former chief financial officer at Google, as chairman, replacing Omid Kordestani.
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Lyft says May rides jump 26% from prior month

Reuters Business News - Tue, 06/02/2020 - 16:31
Ride-hailing firm Lyft Inc said on Tuesday that rides on its platform rose 26% in May from the previous month helped by strong growth in cities where coronavirus-induced restrictions have been eased.
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Oil up more than 3% ahead of OPEC+ meeting and on easing lockdowns

Reuters Business News - Tue, 06/02/2020 - 16:01
Oil prices climbed by more than $1 a barrel on Tuesday on hopes that major crude producers will agree to extend output cuts during a video conference expected to be held this week and as countries and U.S. states begin to reopen after coronavirus lockdowns.
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FAA chief to testify at June 17 Senate hearing on Boeing 737 MAX

Reuters Business News - Tue, 06/02/2020 - 15:50
Federal Aviation Administration chief Steve Dickson will testify June 17 before a U.S. Senate panel on certification of the Boeing 737 MAX that was involved in two fatal crashes in five months that killed 346 people.
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Twitter names Patrick Pichette as chair of board

Reuters Business News - Tue, 06/02/2020 - 15:45
Twitter Inc said on Tuesday that it appointed Patrick Pichette as chair of the social network's board of directors, replacing Omid Kordestani.
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Zoom doubles full-year revenue forecast on remote-work boost

Reuters Business News - Tue, 06/02/2020 - 15:35
Zoom Video Communications Inc nearly doubled its expectations for annual sales on Tuesday, riding on a surge in usage of its video conferencing platform due to coronavirus-driven lockdown measures globally.
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Equities cruise to three-month highs, dollar under protest pressure

Reuters Business News - Tue, 06/02/2020 - 15:28
World stock markets hit their highest levels since March and oil prices jumped on Tuesday as signs of a global economic recovery from the coronavirus pandemic offset concerns over the worst civil unrest in the United States in decades.
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GM should emerge from pandemic with permanently lower costs: CEO

Reuters Business News - Tue, 06/02/2020 - 15:26
General Motors Co should emerge from the coronavirus pandemic with a permanently reduced cost base after it scrambled to reduce its cash burn to withstand a two-month shutdown in North American production as part of efforts to halt the spread of COVID-19, its top executive said on Tuesday.
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Advocacy group sues to block Trump social media executive order

Reuters Business News - Tue, 06/02/2020 - 15:07
A Washington-based advocacy group on Tuesday asked a U.S. judge to invalidate an executive order on social media companies President Donald Trump signed last week claiming it violates the First Amendment.
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LVMH-Tiffany deal seen as uncertain: WWD

Reuters Business News - Tue, 06/02/2020 - 15:00
French luxury goods group LVMH's board called a meeting in Paris to discuss its $16.2-billion offer for Tiffany & Co amid a deteriorating situation in the U.S. market, fashion trade publication WWD reported https://wwd.com/business-news/mergers-acquisitions/lvmh-tiffany-deal-seen-as-uncertain-sources-1203645650 on Tuesday, citing sources.
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Center for Democracy and Technology files lawsuit against Trump's executive order on social media

Reuters Business News - Tue, 06/02/2020 - 14:55
The Washington-based Center for Democracy and Technology filed a lawsuit on Tuesday against U.S. President Donald Trump's executive order on social media, arguing it violates the First Amendment.
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U.S. launches trade probe into digital taxes, plowing ground for new tariffs

Reuters Business News - Tue, 06/02/2020 - 14:26
The United States is investigating digital services taxes being adopted or considered by Britain, Italy, Brazil and other countries, the U.S. Trade Representative's office said on Tuesday, a move that could lead to new punitive tariffs and heighten trade tensions.
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U.S. sanctions four shipping firms for transporting Venezuelan oil

Reuters Business News - Tue, 06/02/2020 - 14:00
The U.S. Treasury Department on Tuesday said it had sanctioned four shipping firms for transporting Venezuelan oil, the latest escalation in Washington's effort to oust socialist President Nicolas Maduro by cutting off the OPEC nation's crude exports.
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Wall Street advances on signs of economic rebound

Reuters Business News - Tue, 06/02/2020 - 13:38
U.S. stocks posted modest gains on Tuesday as market participants looked past widespread social unrest and pandemic worries to focus instead on lifting lockdown restrictions and signs of economic recovery.
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Geely's Polestar plans China showroom expansion to compete with Tesla: sources

Reuters Business News - Tue, 06/02/2020 - 13:33
Polestar, the premium electric vehicle maker owned by China's Geely, plans a big expansion of its showroom network in the mainland, sources said, as it prepares for delivery of cars to compete with Tesla Inc's locally made Model 3.
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California court hears appeal of $289 million verdict against Bayer in first Roundup cancer trial

Reuters Business News - Tue, 06/02/2020 - 13:27
A California appeals court on Tuesday heard arguments in the first case that went to trial over allegations that Bayer AG's glyphosate-based weed killer Roundup causes cancer, resulting in a $289 million judgment against the company.
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JPMorgan, Barclays settle Mexican bond rigging litigation

Reuters Business News - Tue, 06/02/2020 - 13:17
JPMorgan Chase & Co and Barclays Plc will pay $20.7 million to resolve investors' claims they conspired to rig the Mexican government bond market, the first of nine banks in the proposed class-action litigation to settle.
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