Reuters Business News

Thyssenkrupp has less time for a wide-ranging restructuring plan than previously thought as the coronavirus pandemic is significantly burdening the already ailing conglomerate, its chief executive said in a note to staff.

Saudi Aramco is looking to restructure its deal to acquire a controlling stake in petrochemicals maker SABIC after a more than 40% drop in SABIC's value following a slump in oil prices in coronavirus pandemic, two sources told Reuters.

U.S. President Donald Trump's administration is in talks with semiconductor companies about building chip factories in the United States, the Wall Street Journal reported on Sunday.

Emirates, one of the world's biggest long-haul airlines, will raise debt to help it through the coronavirus pandemic that has shattered global travel demand, warning that a recovery in travel demand was at least 18 months away.

China's central bank said on Sunday it will step up counter-cyclical adjustments to support the economy and make monetary policy more flexible to fend off financial risks.

Tesla Inc's chief executive Elon Musk tweeted on Saturday that Tesla will move its headquarters and future programs to Texas or Nevada from California immediately.

Mazda Motor Corp has sought loans totalling about 300 billion yen ($2.8 billion) from Japan's three megabanks and other lenders to ride out the coronavirus epidemic, a source with direct knowledge of the matter said on Saturday.

College sports will not resume until all students are back on campus, NCAA president Mark Emmert said Friday.

As many parts of the world's biggest economy begin to reopen after weeks of stay-at-home orders that slowed the spread of the coronavirus but gutted jobs, Americans should not expect a quick return to growth, U.S. Federal Reserve officials said on Friday.

U.S. luxury department store chain Neiman Marcus Group said on Friday it received court approval to access $675 million of its debtor-in-possession financing, which will allow continuity of the company's business during Chapter 11 bankruptcy proceedings and enable it to pay employees and vendors.

A week packed with U.S. economic data is likely to provide investors with more evidence of the extent to which the coronavirus pandemic has hit growth, sharpening the debate on whether a rebound in stocks has been justified amid an unprecedented slowdown.

The U.S. government's $660 billion program to rescue small businesses hit by the coronavirus pandemic thwarts the intention of Congress by making it hard for some borrowers to convert loans to grants and failing to prioritize the right businesses, a government watchdog said on Friday.

Major U.S. stock indexes jumped on Friday and logged solid gains for the week after data on historic job losses due to the coronavirus crisis showed they were slightly fewer than feared.

Tesla Inc "must not reopen" its vehicle factory in the San Francisco Bay area as local lockdown measures to curb the spread of the coronavirus remain in effect, the local county health department said on Friday.

A week packed with U.S. economic data is likely to provide investors with more evidence of the extent to which the coronavirus pandemic has hit growth, sharpening the debate on whether a rebound in stocks has been justified amid an unprecedented slowdown.

U.S. President Donald Trump said on Friday he was "very torn" about whether to end the so-called Phase 1 U.S.-China trade deal, just hours after top trade officials from both countries pledged to press ahead with implementing it despite coronavirus economic wreckage.

Southwest Airlines Co will sell and lease back 20 planes for gross proceeds of about $815 million, the company said in a regulatory filing on Friday.

The fed funds futures market is pricing in negative U.S. interest rates next year, a scenario the Federal Reserve has said it wants to avoid as many doubt that it would be an effective tool to stimulate growth.

Chipotle Mexican Grill Inc has secured a new year-long $600 million revolving credit line, a regulatory filing showed https://bit.ly/2SOtm6L on Friday, as the restaurant chain looks to deal with the fallout from the COVID-19 pandemic.

Equity markets rallied on Friday, hitting weekly highs, and oil prices gained as more governments around the world began gradually reopening their economies and Sino-American trade tensions eased.