Reuters Business News

Apple on Tuesday accused a few companies of filing groundless complaints and criticised EU antitrust regulators for listening to them and opening two investigations into its Apple Pay and App Store.

Volkswagen is increasing its stake in U.S. company QuantumScape by up to $200 million to boost the development of solid-state battery technology that aims to increase the ranges of electric cars and shorten charging times, the German carmaker said https://bit.ly/2BcvqPY on Tuesday.

Cerberus will use "alternative paths" to force leadership change at Commerzbank if it continues to resist calls to reform, the activist investor said in a letter to Germany's second-biggest bank seen by Reuters on Tuesday.

Federal Reserve Chair Jerome Powell on Tuesday begins the first of two days of testimony before U.S. lawmakers in which he will map out how the United States faces an uncertain, uneven and prolonged economic recovery from the novel coronavirus crisis that will likely require continued monetary and fiscal support.

The New York Federal Reserve's planned launch on Tuesday of a bond-buying facility could help ease the potential stigma for companies of asking for help and create an important framework for what the central bank steps in to purchase, analysts and investors said.

Huawei Chief Financial Officer Meng Wanzhou is raising a new argument in a Canadian court in a bid to fight extradition to the United States on bank fraud charges, court documents released on Monday showed.

Southeast Asian ride-hailing and payments firm Grab said on Tuesday it would lay off more than 300 employees due to the impact of novel coronavirus, in the latest setback to major backer SoftBank Group Corp .

Tencent Holdings Ltd aims to become the biggest shareholder in video streaming rival iQIYI Inc , said two people familiar with the matter, to lower costs and counter competition in a sector boosted by stay-at-home virus policies.

Oil prices made marginal gains on Tuesday, reversing out of earlier losses, as hopes for further cuts in crude supplies took the sting out of concerns that a resurgence of new coronavirus infections around the world could hamper fuel demand.

The United States on Monday confirmed a Reuters report that it will amend its prohibitions on U.S. companies doing business with China's Huawei to allow them to work together on setting standards for next-generation 5G networks.

Asian shares rallied and the dollar fell on Tuesday as risk appetite was bolstered by the formal start of the Federal Reserve's corporate bond buying programme, and earlier worries about a second wave of coronavirus infections eased.

Southeast Asian ride-hailing and payments firm Grab announced hundreds of job losses on Tuesday due to the impact of novel coronavirus.

U.S. retail sales likely experienced a record rise in May as 2.5 million Americans went back to work, although any rebound will retrace only a fraction of the historic drops in March and April amid the coronavirus lockdowns.

Southeast Asian ride-hailing and payments firm Grab is set to announce layoffs on Tuesday, sources told Reuters.

Oil prices slid on Tuesday on lingering concerns over the threat to fuel demand from the resurgence of new coronavirus infections around the world, though hopes for further cuts in crude supplies stemmed losses.

The Federal Communications Commission (FCC) will probe an extensive T-Mobile network outage that impacted customers across the United States, the head of the U.S. telecommunications regulatory agency said on Monday.

Two former Pinterest employees who left the image-sharing company in late May publicly alleged in tweets on Monday that they had experienced racial discrimination in the workplace.

Six former eBay Inc employees have been criminally charged with cyberstalking a Massachusetts couple who published an online newsletter viewed as critical of the e-commerce company, federal prosecutors in Boston said on Monday.

Amazon.com Inc said on Monday its founder and Chief Executive Jeff Bezos was willing to testify to a congressional panel investigating potential violations of U.S. antitrust law by big technology companies.

Asian shares and Wall Street futures rallied on Tuesday as the formal start of the Federal Reserve's corporate bond buying programme boosted global investor sentiment and calmed earlier worries about a second wave of coronavirus infections.