Reuters

Mexico's auto industry reopening picked up pace on Tuesday, with Fiat Chrysler and BMW AG joining peers in gradually dusting off operations even as the wait for approvals slowed the return of Ford Motor Co and other companies.

Global equities and oil rose on Tuesday as China's promise of more stimulus and prospects of a world economic recovery cheered investors, who set aside concerns about tense rhetoric between Washington and Beijing.

U.S. stocks closed higher on Tuesday on optimism about the development of coronavirus vaccines and a revival of business activity, but the S&P 500 failed to hold above the key psychological level of 3,000 points.

A New Jersey used car dealer was criminally charged on Tuesday with exploiting the coronavirus pandemic by trying to defraud and price gouge New York City into buying N95 respirator masks in a roughly $45 million scheme.

When Renault SA , Nissan Motor Co and Mitsubishi Motors Corp announced the last strategy plan for their Alliance in September 2017, the goal was to become the world's biggest automaker by 2022.

The Franco-Japanese automaking alliance of Renault SA , Nissan Motor Co and Mitsubishi Motors is banking on a new recovery plan, set to be announced later on Wednesday, to salvage profitability.

LATAM Airlines Group , the continent's largest carrier, filed for U.S. bankruptcy protection on Tuesday, becoming the world's largest carrier so far to seek an emergency reorganization due to the coronavirus pandemic.

Milan's Arbitral Tribunal has judged that the contracts over the sale of Italy's RCS headquarters to Blackstone Group Inc in 2013 were valid but found that the purchaser's behaviour may entitle the Italian publisher to compensatory damages, RCS said on Tuesday.

U.S. legislation introduced on Tuesday would create a taxpayer-backed insurance program to protect businesses from revenue losses during future pandemics and require insurers to pay a slice of the claims.

As U.S. businesses reopen, worried workers and their advocates are borrowing a legal strategy commonly used to shut down rowdy topless bars to try and force employers to strengthen protection against further spread of the coronavirus.

Alphabet Inc's Google said on Tuesday it would reopen buildings in more cities at roughly 10% of their capacity beginning July 6 and scale it up to 30% in September, if conditions permit.

New York Governor Andrew Cuomo donned a face mask and rang the opening bell at the New York Stock Exchange on Tuesday, marking the partial reopening of the trading floor at 11 Wall Street, which had been shuttered since March 23 due to the coronavirus outbreak.

Unthinkable just two months ago as the world economy shut down in response to the coronavirus pandemic, the U.S. stock benchmark S&P 500 index broke through the psychologically-important 3,000 level on Tuesday, capping a 37% stock rally since its March low.

U.S. stocks rose above the 3,000 level for the first time since March 5 on Tuesday, continuing a rally that has pushed the benchmark index up nearly 35% from its March 23 closing low on hopes for a potential coronavirus vaccine and the reopening of businesses across the country.

Merck & Co Inc , which has largely kept to the sidelines of the race for COVID-19 treatments, said it was buying Austrian vaccine maker Themis Bioscience and would collaborate with research nonprofit IAVI to develop two separate vaccines.

U.S. legislation introduced on Tuesday would create a taxpayer-backed insurance program to protect businesses from revenue losses during future pandemics and require insurers to pay a slice of the claims.

The New York Stock Exchange will partially reopen the trading floors at its iconic 11 Wall Street building on Tuesday for the first time since March 20 when the bourse was forced to go all-electronic due to the coronavirus pandemic.

U.S. companies' borrowings for capital investments fell about 7% in April from a year earlier, the Equipment Leasing and Finance Association (ELFA) said on Tuesday.

French carmaker Renault is about to announce plans to cut 5,000 jobs by 2024 in its drive to save 2 billion euros ($2.20 billion) in costs, according to a report published Tuesday by Le Figaro.

Oil prices rose on Tuesday, supported by signs that producers are following through on commitments to cut supplies and as fuel demand picks up with coronavirus restrictions easing.