Reuters Business News

Qantas Airways Ltd could restart 40-50% of its domestic capacity in July if states relax border controls, and expects to offer low and flexible fares without social distancing measures to stimulate travel demand, its chief executive said on Tuesday.

Oil prices rose on Tuesday, extending gains for a fourth straight session, amid signs that producers are cutting output as promised just as demand picks up, stoked by more countries easing out of curbs imposed to counter the coronavirus pandemic.

The U.S. Securities and Exchange Commission (SEC) on Monday said it settled charges against three former KPMG LLP audit partners stemming from a cheating scandal at the firm.

Starbucks Coffee Japan said it was reopening many of its stores in Japan, including Tokyo, starting on Tuesday, although many of them will be limited to take-out and drive-through services.

Asian shares were set to rise on Tuesday after data from an early-stage trial for a coronavirus vaccine lifted hopes for a near-term economic recovery, sending global equity markets and oil prices surging.

SoftBank Group Corp is in talks to sell "a significant portion" of its T-Mobile US stake to controlling shareholder Deutsche Telekom AG, the Wall Street Journal reported on Monday, citing unidentified sources.

U.S. stocks jumped on Monday, and the S&P 500 closed at a 10-week high, on encouraging early-stage data for a potential coronavirus vaccine and on the promise of more stimulus to lift an economy beaten down by the pandemic.

Uber Technologies Inc will concentrate on its core businesses in ride-hailing and food delivery and cut 23% of its workforce in an attempt to become profitable despite the coronavirus pandemic, Chief Executive Officer Dara Khosrowshahi said in an email to employees on Monday.

Dutch bank NIBC Holding NV said late on Monday it has agreed to pay its 2019 dividend to its proposed buyer, U.S. equity firm Blackstone Group Inc , before the deal settles, in order to remove one hurdle to the proposed 1.36 billion-euro ($1.47 billion) takeover.

Dana Inc , a key supplier of truck parts to Detroit automakers, restarted its Toledo plant Monday on a single shift, with one-third of its 750-person workforce and less than 1% absenteeism, according to plant manager Craig Zimmerly.

Walt Disney Co said on Monday its top streaming executive, Kevin Mayer, will leave to become the Chief Executive Officer of Bytedance's popular video app TikTok.

Jet manufacturers and airlines are launching an urgent initiative to convince nervous travelers that the air they breathe on planes is safe, believing this is critical to rebuilding a travel industry floored by the novel coronavirus.

Delta Air Lines said on Monday it would resume flying several major routes in June that were suspended due to the coronavirus pandemic, including some Trans-Atlantic and Caribbean destinations.

Jack Dorsey-led Square Inc said on Monday that most of its employees can continue to work from home permanently even after offices reopen, following a similar announcement from Twitter Inc, which is also headed by the billionaire.

A gauge of global equity markets surged almost 3% on Monday and oil rallied to highs last seen in mid-April as data from an early-stage trial for a coronavirus vaccine lifted hopes of a faster recovery from the pandemic-driven economic slump.

U.S. President Donald Trump said on Monday extending the amount of time borrowers in the Paycheck Protection Program have to spend their funds to 24 weeks from the current eight weeks "should be easy."

Italy's Economy Minister Roberto Gualtieri on Monday said Fiat Chrysler [FCHA.MI] has to strengthen investments in Italy and avoid delocalizing its factories outside the national borders to apply for a state backed loan.

Oil prices on Monday jumped to their highest in over two months on positive early results on a potential coronavirus vaccine, optimism about a resumption in economic activity and signs producers were following through on planned output reductions.

Roughly 4.1 million U.S. mortgage borrowers have had their payments paused or reduced as the novel coronavirus outbreak hits household finances, but the increase in the number of people needing such help is slowing, the latest weekly survey from the Mortgage Bankers Association showed on Monday.

The coronavirus crisis is accelerating a shift in the world of autonomous cars toward delivering packages instead of people, as big players open up a lead over startups in the race for funding.