Reuters Business News

Since September, investors have pumped at least $6 billion into more than two dozen startups that are automating delivery of goods and food, from heavy trucks to sidewalk robots and drones.

Japan's SoftBank Group Corp reported a stunning $18 billion loss at its giant Vision Fund, pushing Masayoshi Son's conglomerate to a record loss and highlighting the deepening crisis at its portfolio companies from the global downturn.

Softbank Group will raise 1.25 trillion yen ($11.7 billion) using Alibaba stock to fund buybacks of its own shares, Chief Executive Masayoshi Son said on Monday.

Unemployment checks are flowing, $490 billion has been shipped to small businesses, and the U.S. Federal Reserve has put about $2.5 trillion and counting behind domestic and global markets.

U.S. stock index futures surged on Monday with gains spread across stocks ranging from autos to oil as many of the hard-hit countries eased restrictions on business and social activities, boosting hopes of a global economic recovery.

Top technology services firms are offering payment deferrals, discounts of up to 20% and other sweeteners to some U.S. banks to keep their business as the pandemic forces Wall Street to cut tech budgets, according to executives involved in the talks.

Panasonic Corp's finance chief said the company is seeing strong demand for battery cells from U.S. partner Tesla and they are in talks to expand their joint plant in Nevada, which is now profitable.

Thyssenkrupp's powerful labor representatives are open to consolidation talks in the steel sector, a leading union official told Reuters on Monday.

The U.S. auto industry is slowly returning to life, with vehicle assembly plants scheduled to reopen on Monday and suppliers gearing up in support as the sector that employs nearly 1 million people seeks to recover from the coronavirus pandemic.

European stock markets rose on Monday and oil prices climbed to their highest in more than a month as a loosening of coronavirus shutdowns boosted market sentiment, even as the deadly outbreak has yet to be fully contained.

The most important data for the U.S. economy right now are the "medical metrics" around the coronavirus pandemic, Federal Reserve Chairman Jerome Powell said Sunday night in broadcast remarks where he outlined the likely need for three to six more months of government financial help for firms and families.

Oil prices climbed by more than $1 a barrel on Monday, with benchmark Brent hitting a one-month high and U.S. crude topping $30 supported by optimism about the re-opening of economies and output cuts by major producers.

Britain and the United States are hopeful that negotiations for a trade agreement can proceed at an accelerated pace, Britain's department for trade said on Monday in an update on the talks after the first round concluded last week.

Japan's SoftBank Group Corp reported a stunning $18 billion loss at its giant Vision Fund, pushing Masayoshi Son's conglomerate to a record loss and highlighting the deepening crisis at its portfolio companies from the global downturn.

Huawei Technologies said on Monday that its business will be inevitably impacted by the latest U.S. move to restrict chip sales to the Chinese technology company, but it is confident of finding solutions soon.

German ailing conglomerate Thyssenkrupp is in talks with international peers about consolidating its loss-making steel business, a person familiar with the matter said.

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.

Japan's Panasonic Corp posted on Monday a 29% drop in annual operating profit amid the coronavirus outbreak but said its battery cells joint venture with major customer Tesla Inc logged a second straight quarterly profit.

Japan's economy slipped into recession for the first time in 4-1/2 years in the last quarter, putting the nation on course for its deepest postwar slump as the coronavirus crisis ravages businesses and consumers.

Asian shares stepped ahead on Monday and oil prices hit a five-week peak as countries' efforts to re-open their economies stirred hopes the world was nearer to emerging from recession.