Reuters Business News

Electric carmaker Tesla Inc is negotiating possible incentives with a Texas county that could bring a new auto assembly plant to the area near Austin, the state capital, the Austin American-Statesman reported on Monday.

British Airways is fighting for its survival and has acted lawfully, Willie Walsh, the chief executive of the airline's owner IAG said on Monday, in a terse response to lawmakers who heavily criticised its treatment of employees.

United Airlines said on Monday it is pledging its MileagePlus frequent flyer program for a new $5 billion loan aimed at further buffering its liquidity, even as its cash burn rate slows thanks to a steady improvement in demand.

Wall Street jumped on Monday following an announcement by the U.S. Federal Reserve regarding its corporate bond purchasing program that boosted investor confidence, which had been wavering amid a spike in new COVID-19 cases.

United Auto Workers (UAW) President Rory Gamble will meet Matthew Schneider, the U.S. attorney for the Eastern District of Michigan, at the end of the month in Detroit to begin negotiations for reforming the union, UAW said on Monday.

Ruling against environmentalists, the U.S. Supreme Court on Monday decided that the federal government has the authority to allow a proposed $7.5 billion natural gas pipeline to cross under the popular Appalachian Trail in rural Virginia.

State investigators in both California and Washington are examining Amazon's business practices, two newspapers reported, citing people familiar with the matter.

Lufthansa said on Monday it was seeking to strike agreements with worker representatives by June 22 on how to make cuts equivalent to 22,000 full-time positions.

U.S. stocks were mixed in choppy afternoon trading on Monday, with the benchmark S&P 500 paring early losses to trade flat as investors weighed the economic outcome of a spike in new coronavirus cases in China and parts of the United States.

The United States will amend its prohibitions on U.S. companies doing business with China's Huawei to allow them to work together in standards setting for next-generation 5G networks, according to people familiar with the matter.

Oil prices rose on Monday as signs fuel demand was recovering while OPEC+ members were complying with a production cut deal outweighed fears that new coronavirus infections could further slow the global economy.

BP will write off up to $17.5 billion from the value of its assets after cutting its long-term oil and gas price forecasts, betting the COVID-19 crisis will cast a lasting chill on energy demand and accelerate a shift away from fossil fuels.

The London Stock Exchange will not offer concessions to EU antitrust regulators reviewing its $27 billion bid for data and analytics company Refinitiv, two people familiar with the matter said, a move which will likely trigger a four-month probe.

Italian Economy Minister Roberto Gualtieri said on Monday the government is closely watching the merger between the London Stock Exchange (LSE) and Refinitiv, and its implications for the Italian bourse owned by LSE.

Britain's Foreign Secretary Dominic Raab voiced a thinly veiled criticism of HSBC on Monday after the bank backed China's national security law for Hong Kong, contradicting the British government's opposition to it.

The U.S. economy will experience a "significant, historic" contraction in the second quarter before it starts to rebound, and unemployment will remain elevated at the end of 2020, Dallas Federal Reserve President Robert Kaplan said on Monday.

U.S. stocks dropped on Monday after a spike in new coronavirus cases in China and parts of the United States dampened hopes of a swift economic recovery that had driven a sharp rise in Wall Street's main indexes over the past month.

The U.S. will amend its prohibitions on U.S. companies doing business with China's Huawei to allow them to work together in standards settings for next generation 5G networks, according to people familiar with the matter.

The Federal Reserve on Monday launched its latest life raft for U.S. businesses hurt by the coronavirus pandemic.

The Federal Reserve said on Monday it had opened registration for lenders interested in participating in its Main Street Lending Program, launching arguably the most complex program undertaken yet by the U.S. central bank to help keep the backbone of the economy from buckling under the strains of the coronavirus pandemic.