Reuters Business News

Hyatt Hotels Corp said late Monday it would restructure roles and lay off employees across its operations worldwide, which would impact about 1,300 staff, amid a virtual halt in global travel to curb the spread of the coronavirus pandemic.

Sandwich maker Potbelly Corp on Monday promised to reimburse activist shareholders' expenses with stock not cash, creating a situation that lawyers call an outlier for now but which they said could find traction in tough economic times.

A special committee of WeWork board members filed a motion in Delaware on Monday to prevent it from being disbanded, as it pursues legal action against majority owner SoftBank Group Corp over an abandoned $3 billion tender offer for the office space-sharing start-up.

Boeing Co Chief Executive Dave Calhoun does not expect passenger traffic to reach even a quarter of its levels in September, creating the need for airlines to make "adjustments" as they weather the impact of the coronavirus pandemic.

Asian equities and oil prices were set to slip on Tuesday amid growing investor worries about a second wave of coronavirus infections after the Chinese city where the pandemic originated reported its first new cases since its lockdown was lifted.

Bitcoin slid on Monday in volatile trading, after it went through a technical adjustment that reduced the rate at which new coins are created, but the outlook remained upbeat as the increase in supply slows down.

United Airlines Holdings Inc said on Monday that starting next week it will notify passengers ahead of time if their flight is expected to be "closer to full capacity," allowing them to re-book on a different flight or receive a travel credit.

Caesars Entertainment Corp missed quarterly revenue estimates on Monday as it shuttered its casinos amid nationwide lockdowns to contain the spread of the COVID-19 pandemic.

The S&P 500 closed barely higher, eking out a nominal gain on Monday as investors weighed new spikes in coronavirus infections with expectations that an economy crippled by mandated shutdowns will soon be re-opened for business.

Bitcoin slid on Monday in volatile trading, after it went through a technical adjustment that reduced the rate at which new coins are created, but the outlook remained upbeat as the increase in supply slows down.

President Donald Trump on Monday said he is not in favor of the United States reopening negotiations with China on Phase 1 of a trade deal, which the two countries agreed on at the beginning of the year.

China's Tencent Music Entertainment Group missed Wall Street estimates for quarterly revenue on Monday as the COVID-19 pandemic impacted the company's social entertainment services business, sending its shares down 4.5% in extended trade.

Oklahoma's energy regulators on Monday took no action on applications from oil and gas producers seeking to win state-support for measures they said would help stabilize oil prices.

Tesla Inc on Monday told employees at its primary vehicle factory in California to return to work, defying local officials, who said days earlier that the plant should remain closed as lockdown measures remain in effect to curb the spread of the coronavirus.

Global equities wavered on Monday as investors weighed a jump in coronavirus cases in South Korea and Germany against signs that more parts of the U.S. economy could soon emerge from economic lockdown. Safe havens such as U.S. Treasuries edged higher in anticipation of further stimulus measures to limit the damage of the COVID-19 pandemic.

Tesla Inc sued local authorities in California on Saturday as the electric carmaker pushed to re-open its factory there and Chief Executive Elon Musk threatened to move Tesla's headquarters and future programs from the state to Texas or Nevada.

California Governor Gavin Newsom said both he and local health officials would speak to officials at Tesla Inc, after the company ordered workers back on the job despite ongoing coronavirus restrictions in Alameda County, where its auto plant is located.

Billionaire Richard Branson's Virgin Group said on Monday that it may sell up to 25 million shares of space tourism company Virgin Galactic Holdings Inc to raise funds amid the COVID-19 pandemic.

California should do whatever is necessary to help electric carmaker Tesla Inc reopen its only U.S. vehicle factory, U.S. Treasury Secretary Steven Mnuchin said on Monday.

The S&P 500 inched higher on Monday as investors balanced caution over new spikes in coronavirus infections with expectations that an economy crippled by mandated shutdowns will soon be re-opened for business.