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Updated: 4 years 29 weeks ago
J.C. Penney to permanently shut about 242 stores as part of bankruptcy plan
J.C. Penney Co Inc plans to trim its store count by 29% to about 604, as the U.S. department store chain looks to focus on those more profitable, a regulatory filing showed on Monday, two days after it filed for bankruptcy protection.
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Ailing icon Thyssenkrupp seeks partners for steel, warship units
Thyssenkrupp on Monday said it was looking for partners for its steel and warship divisions, singling out just three lines of businesses that will stay within the struggling German industrial icon.
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U.S. auto industry returns to life after lockdown
The Detroit Three automakers and their suppliers began restarting assembly lines on Monday after a two-month coronavirus lockdown in a slow revival of a sector that employs nearly 1 million people in the United States.
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Global shares, oil rally as lockdowns ease, vaccine hopes
A gauge of global equity markets surged 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.
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S&P 500 hits 10-week high on vaccine hopes and stimulus promise
U.S. stocks jumped on Monday, and the S&P 500 reached 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.
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Oil on track for two-month high as lockdowns ease, positive vaccine results
Oil prices jumped on Monday, with both U.S. and Brent benchmarks on track for their highest settles in two months, supported by positive early results on a potential coronavirus vaccine and optimism about resumption in economic activity.
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Exclusive: U.S. probes PerkinElmer's role in massive Medicare fraud - sources
Medical diagnostic firm PerkinElmer Inc faces a federal investigation into its role in an alleged Medicare fraud involving tens of thousands of unnecessary genetic cancer tests, according to three sources with knowledge of the probe and documents reviewed by Reuters.
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U.S. Senator Klobuchar blasts Uber, Grubhub deal talks
U.S. Senator Amy Klobuchar on Sunday blasted merger talks between ride-hailing firm Uber Technologies Inc and online food delivery company Grubhub Inc, calling any deal bad for competition and consumers.
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San Francisco Bay Area to open for manufacturing, curbside retail
Businesses in the San Francisco Bay Area may open for manufacturing, retail with curbside pickup and warehouse distribution, health directors of five counties that make up most of the region said Monday.
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JPMorgan fills senior leadership roles after February makeover
JPMorgan has made a number of changes in senior positions in its investment bank in the Europe, Middle East and Africa (EMEA) region to support a February reshuffle of the top roles, according to an internal memo seen by Reuters.
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Total calls off plan to buy Occidental Petroleum's Ghana assets
Total has called off a plan to acquire Occidental Petroleum's assets in Ghana, which was conditional on the completion of the acquisition of Occidental's other assets in Algeria, the French energy company said on Monday.
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Stimulus, vaccine hopes drive S&P 500 to 10-week high
U.S. stocks surged on Monday, with the S&P 500 hitting a 10-week high, as encouraging early data from a potential coronavirus vaccine trial boosted sentiment, with investors also hoping for stimulus to cushion the economic blow from the pandemic.
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IMF chief warns full global economic recovery unlikely in 2021
The global economy will take much longer to recover fully from the shock caused by the new coronavirus than initially expected, the head of the International Monetary Fund said, and she stressed the danger of protectionism.
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Wall Street soars on hopes of stimulus, coronavirus vaccine
Wall Street's main indexes surged on Monday as encouraging early data from a potential coronavirus vaccine trial boosted sentiment, with investors also counting on more stimulus to rescue the U.S. economy from a deep slowdown.
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Huawei calls U.S. move to curb chips supply 'arbitrary', expects business impact
Huawei Technologies in its first official response to the Trump administration's move to curb its access to global chip supplies called it "arbitrary" and said its business would be impacted.
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Amazon's French warehouses to reopen with 30% staff: unions
Amazon's French warehouses are set to reopen on Tuesday with about 30% of employees, three union officials said, ending a month-long dispute over whether the e-commerce giant was doing enough to protect workers from the coronavirus pandemic.
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Uber to focus on core rides, delivery business as cuts more jobs
Uber Technologies Inc will concentrate on its core businesses in ride-hailing and food delivery, Chief Executive Officer Dara Khosrowshahi said in an email to employees on Monday, announcing the company's second round of job cuts during the coronavirus pandemic.
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Walmart trailed supermarkets amid peak panic-buying: data
Americans increased their visits to supermarkets far more than to Walmart Inc stores as panic-buying peaked in mid-March, a Reuters analysis of foot traffic to retailers in the United States shows.
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Oil futures on track for two-month highs as lockdowns ease
Oil prices jumped on Monday, with both U.S. and Brent benchmarks on track for their highest settles in two months, supported by optimism about resumption in economic activity and steady output cuts from major producers.
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Uber to lay off 3,000 workers in second cut this month
Uber Technologies Inc will cut about 3,000 jobs, in addition to the 3,700 it had announced earlier this month, as coronavirus-led restrictions sap demand for ride-hailing services, Chief Executive Officer Dara Khosrowshahi said in an email to employees on Monday.
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