Reuters

Deere profit slumps 41% as farm equipment demand crashes

Reuters Business News - Fri, 05/22/2020 - 05:23
Deere & Co reported a 41% fall in quarterly profit on Friday as coronavirus-led lockdowns sapped demand for its tractors, harvesters and other machinery.
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Oil drops over 5% on China-U.S. tensions, demand doubts

Reuters Business News - Fri, 05/22/2020 - 05:16
Oil fell 5% on Friday towards $34 a barrel as tensions rose between the United States and China, and doubts grew about the pace of demand recovery from the coronavirus crisis.
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Cabin crew union demands Lufthansa bailout safeguards jobs

Reuters Business News - Fri, 05/22/2020 - 05:14
Germany's airline cabin crew union called on Friday for Berlin to include measures to safeguard jobs in the bailout package which is being finalised for airline Lufthansa .
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EasyJet founder fails to oust management, proxy votes show

Reuters Business News - Fri, 05/22/2020 - 04:59
EasyJet said founder Stelios Haji-Ioannou had failed in his attempt to oust key management including the CEO, according to the initial results of a shareholder vote brought over the airline's plan to buy new planes.
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China's Geely to explore deeper cooperation with Daimler: chairman

Reuters Business News - Fri, 05/22/2020 - 04:35
China's Geely will explore the possibility of deeper cooperation with German luxury automaker Daimler AG , its Chairman Li Shufu said on Friday.
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Ryanair's Lauda airline to close Vienna base, 300 jobs to go

Reuters Business News - Fri, 05/22/2020 - 04:24
Ryanair's Austrian airline Lauda on Friday said it would shut down its main Vienna base on May 29 with the loss of more than 300 jobs in Austria after it did not manage to agree new labour contracts with the union.
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Amazon to hire 50,000 temp workers in India as lockdown boosts demand

Reuters Business News - Fri, 05/22/2020 - 04:12
Amazon.com Inc's India unit said it would hire 50,000 temporary workers to meet a surge in online shopping in the country, where customers have been stuck indoors for two months in a lockdown to fight the coronavirus outbreak.
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Tensions over Hong Kong unnerve world stocks, oil tumbles

Reuters Business News - Fri, 05/22/2020 - 03:52
World stocks took a hit on Friday as China moved to impose a new security law on Hong Kong after last year's pro-democracy unrest, further straining fast-deteriorating U.S.-China ties.
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Tensions over Hong Kong unnerves world stocks, oil tumbles

Reuters Business News - Fri, 05/22/2020 - 03:33
World stocks took a hit on Friday as China moved to impose a new security law on Hong Kong after last year's pro-democracy unrest, further straining fast-deteriorating U.S.-China ties.
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Nissan considering 20,000 job cuts, mainly in Europe, developing nations: Kyodo

Reuters Business News - Fri, 05/22/2020 - 03:06
Nissan Motor Co is considering cutting 20,000 jobs from its global workforce, focusing on Europe and developing countries, Kyodo news reported on Friday, as the Japanese automaker struggles to recover from plunging car sales.
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Renault could disappear and must adapt: French finance minister

Reuters Business News - Fri, 05/22/2020 - 02:36
Renault could disappear if it does not get help very soon to cope with the fallout from the coronavirus crisis, France's Finance Minister Bruno Le Maire said on Friday, while adding the carmaker also needed to adapt to the situation.
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Banks pursue Luckin Coffee chairman's assets after loan default

Reuters Business News - Fri, 05/22/2020 - 02:34
The banks that lent $518 million to Luckin Coffee Chairman Charles Zhengyao Lu have started court proceedings to liquidate his private company, a government gazette for the British Virgin Islands showed.
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Global stocks skid as Hong Kong returns as Sino-U.S. flashpoint

Reuters Business News - Fri, 05/22/2020 - 02:25
Global shares tumbled on Friday as Hong Kong's political unrest returned as a flashpoint in fast-deteriorating U.S.-China relations, following Beijing's moves to impose a new security law on the city.
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Oil prices drop as China-U.S. tensions grow, Beijing fails to set economic growth target

Reuters Business News - Fri, 05/22/2020 - 02:08
Oil prices fell on Friday as tensions rose between the U.S. and China and as Beijing failed to set target for economic growth this year, stoking concern that the coronavirus pandemic will overshadow fuel demand in the world's second-largest oil user.
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Vodafone names Heineken's Van Boxmeer as new chairman

Reuters Business News - Fri, 05/22/2020 - 01:58
Vodafone , the world's second-biggest mobile operator, has recruited Jean-Francois Van Boxmeer, the current CEO of brewer Heineken , to succeed Gerard Kleisterlee as chairman from November this year.
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Renault could disappear and needs to be able to adapt: Le Maire

Reuters Business News - Fri, 05/22/2020 - 01:51
France's Finance Minister Bruno Le Maire said on Friday that Renault could disappear if it does not get help very soon to cope with the fallout from the coronavirus crisis, while adding that Renault also needed to adapt to the situation.
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China's biggest automaker expects domestic car sales to pick up in second quarter

Reuters Business News - Fri, 05/22/2020 - 01:40
China's biggest automaker SAIC Motor expects the nation's auto sales to post year-on-year growth in the second quarter due to recovering demand and supportive policies, its chairman said on Friday.
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Trump visits Ford plant in politically crucial Michigan, leaves mask off for cameras

Reuters Business News - Fri, 05/22/2020 - 01:22
President Donald Trump traveled on Thursday to the crucial U.S. election battleground state of Michigan to visit a Ford Motor Co plant amid tensions with its Democratic governor during the coronavirus pandemic, opting not to wear a protective face mask for the cameras.
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Roche buys U.S. gene sequencing tech company Stratos Genomics

Reuters Business News - Fri, 05/22/2020 - 00:24
Pharmaceutical group Roche has acquired U.S.-based Stratos Genomics to further develop DNA-based sequencing for diagnostic use, it said on Friday.
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Rudderless after a rally, stock markets look for next catalyst

Reuters Business News - Fri, 05/22/2020 - 00:12
Global equity markets have shuffled up about 1% this month despite the world starting to re-open after the coronavirus-driven lockdowns and U.S. and European economic data showing glimmers of a recovery.
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