Reuters Business News

Brussels Airlines, part of Germany's Lufthansa , said on Tuesday it would reduce its fleet by 30% and its workforce by a quarter to guarantee its survival during and after the COVID-19 pandemic.

Germany's financial watchdog BaFin said on Tuesday that it was conducting multiple investigations into payments company Wirecard .

Lawmakers will quiz U.S. regulators this week on their efforts to help struggling consumers, oversight of massive federal bailout packages and regulatory easing when they appear before Congress this week for the first time since the novel coronavirus outbreak.

Ryanair on Tuesday confirmed it will return to 40% of its planned flight schedule from July 1 and will require passengers to wear face coverings and to ask crew permission to use the toilet.

U.S. stock index futures ticked higher on Tuesday as China's move to waive off tariffs on some U.S imports added to hopes that the easing of virus-led business shutdowns would help jump-start a battered global economy.

Challenged by the arrival of Tesla in China last year, domestic electric vehicle (EV) start-ups were struggling even before the economic shock wrought by the coronavirus, but now for some it has become a battle for survival.

American International Group Inc faces a crucial test on Wednesday, when shareholders are to vote on whether the board of directors has adequately addressed their concerns about executive pay.

Ryanair plans to move back towards an all-Boeing fleet by cancelling leases for Airbus A320s for its Lauda subsidiary and likely replacing 30 Airbus jets at the Austrian airline with Boeing 737s, Chief Executive Michael O'Leary told Reuters.

German conglomerate Thyssenkrupp warned on Tuesday that its operating loss could swell to 1 billion euros ($1.1 billion) in the April to June quarter due to the coronavirus crisis.

Europe's share markets, bond yields and the euro all inched higher on Tuesday, as mildly reassuring signals from China's economy helped limit worries about a potential second wave of coronavirus infections.

Toyota Motor Corp said on Tuesday it expects profit to drop by 80% to its lowest in nine years, as Japan's biggest automaker grapples with the impact of the novel coronavirus which has sapped global demand for vehicles.

Aircraft lessors may need to start taking back some planes in the second half of the year, the CEO of BOC Aviation Ltd said, adding that the pandemic-hit aviation market could take until 2023 to fully rebound.

ArcelorMittal , the world's largest steelmaker, is issuing $2 billion of shares and convertible notes at a deep discount to accelerate debt reduction plans that have been slowed by the COVID-19 pandemic.

Honda Motor Co on Tuesday posted its lowest operating profit in four years and refrained from releasing an earnings outlook for the current year because of uncertainty about the longer-term impact of the coronavirus on global car demand.

China announced on Tuesday a new list of 79 U.S. products eligible for waivers from retaliatory tariffs imposed at the height of the bilateral trade war, amid continued pressure on Beijing to boost imports from the United States.

Fried chicken chain Popeyes is forging ahead with the opening of its first outlet in China despite the coronavirus outbreak and plans to set up "a few more" by the end of the year in several Chinese cities, its executives said on Tuesday.

Honda Motor Co on Tuesday posted its lowest operating profit in four years and refrained from releasing an earnings outlook for the current business year as the coronavirus pandemic hits global car demand.

Honda Motor Co has enough cash on hand, equivalent to almost two months of sales, to weather the downturn caused by the coronavirus pandemic, but may issue bonds to raise funds if there is second or third wave of infections, a senior managing director at the company, Kohei Takeuchi said on Tuesday.

German conglomerate Thyssenkrupp on Tuesday warned its operating loss could swell to 1 billion euros ($1.1 billion) in the current quarter citing the coronavirus pandemic.

Thyssenkrupp does not have a liquidity problem due to a 1 billion euro loan from state-owned lender KfW [KFW.UL] and the expected transfer of funds from the sale of its elevator division, its chief financial officer said.