Reuters Business News
Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals.
Updated: 4 years 29 weeks ago
Uber closes Eats operations in eight smaller markets
Uber said on Monday it was closing down its Uber Eats operations in eight markets because they did not offer a clear route to becoming the number one or number two online food delivery operator, its stated aim for its Eats business.
Categories: Reuters
French carmaker PSA to re-start production gradually over this week
Peugeot carmaker PSA , one of many car companies around the world to have been hit hard by the coronavirus, said on Monday that it would gradually restart production at sites over the course of this week.
Categories: Reuters
Carmakers Dacia and Ford resume production in Romania
Romanian carmaker Dacia, owned by France's Renault and Ford Motor Co's Craiova plant resumed operations on Monday after output was halted due to the coronavirus pandemic in March, they said.
Categories: Reuters
Norwegian Air's shareholders vote in favour of rescue plan: DN
Norwegian Air's shareholders gave their backing on Monday to the company's financial survival plan, with about 95% of votes cast supporting the conversion of debt into equity, financial daily Dagens Naeringsliv reported on Monday.
Categories: Reuters
HSBC to buy out life insurance joint venture partner in China
HSBC Holdings PLC said on Monday its insurance unit had agreed to acquire its China life insurance venture partner's 50% stake to own fully the company under the new rules on foreign ownership that came into effect in January.
Categories: Reuters
Mirae Asset scraps $5.8 billion deal to buy U.S. hotels from China's Anbang
South Korea's Mirae Asset Global Investments said on Monday that it has terminated a $5.8 billion deal to buy 15 U.S. hotels from China's Anbang Insurance Group [ANBANG.UL], accusing the insurer of breaching contract obligations.
Categories: Reuters
J. Crew files for bankruptcy protection
J. Crew Group Inc filed for bankruptcy protection on Monday, adding to an array of brick-and-mortar retailers pushed to the brink by widespread store closures in response to the coronavirus pandemic.
Categories: Reuters
Pandemic slams Asia's factories, activity hits financial crisis lows
Asia's factory activity was ravaged in April, business surveys showed on Monday, and the outlook dimmed further as government restrictions on movement to contain the coronavirus outbreak froze global production and slashed demand.
Categories: Reuters
Mastercard promotes Mark Barnett to European president role
Mastercard has promoted Mark Barnett to the role of president of its European business, responsible for the payment giant's strategy and operations across 53 countries.
Categories: Reuters
UK watchdog investigates EY audit of NMC Health
Britain's accounting regulator said it has opened an investigation into EY's audit of NMC Health, the troubled hospital operator that was placed into administration in April.
Categories: Reuters
Oil prices fall on demand concerns, U.S.-China trade tension
Oil prices fell on Monday, paring last week's gains, on worries a global oil glut may persist amid slumping demand and U.S.-China trade tensions that could restrict an economic recovery even as coronavirus pandemic lockdowns start to ease.
Categories: Reuters
EU clears 7 billion euros in state aid for Air France
The European Union's competition watchdog on Monday approved French state aid worth 7 billion euros ($7.66 billion) for Air France , saying the support would provide cash to soften the economic shock of the coronavirus pandemic.
Categories: Reuters
Norwegian Air's shareholders to vote on pivotal rescue plan
Norwegian Air's shareholders began a pivotal meeting on Monday to vote on a plan to convert debt into equity and raise more cash that could determine whether the budget carrier survives the coronavirus pandemic.
Categories: Reuters
Telefonica confirms talks to merge Britain's O2 and Virgin Media
Spain's Telefonica SA confirmed on Monday it has opened talks with billionaire John Malone's Liberty Global Plc over a possible merger of the two companies' businesses in Britain.
Categories: Reuters
Britain's Hotel Chocolat bolsters finances to get through coronavirus crisis
British chocolatier Hotel Chocolat has increased its banking facilities to help get it through the coronavirus crisis, it said on Monday.
Categories: Reuters
Norwegian Air says lessors support rescue ahead of shareholder vote
Norwegian Air has won "strong support" from aircraft lessors for its plan to convert debt into equity, the carrier said on Monday, as shareholders prepared to cast their vote on the scheme in a meeting set to begin at 0630 GMT.
Categories: Reuters
India's Reliance to sell $750 million stake in unit to Silver Lake, on track to cut debt
India's Reliance Industries Ltd said on Monday private equity firm Silver Lake will invest nearly $750 million in its digital arm, days after securing a $5.7 billion investment from Facebook Inc , boosting its efforts to cut debt.
Categories: Reuters
Dollar up, Asian stocks slip as U.S. pins blame for virus on China
The dollar inched higher, stock markets struggled for traction and oil dropped on Monday as a U.S.-China spat over the origin of the coronavirus put the brakes on optimism about an economic re-start as countries around the world ease restrictions.
Categories: Reuters
Oil prices slide on demand concerns, U.S.-China trade tension
Oil prices fell on Monday, paring last week's gains, on worries a global oil glut may persist amid slumping demand and U.S.-China trade tensions that could restrict an economic recovery even as coronavirus pandemic lockdowns start to ease.
Categories: Reuters
India's Reliance sells $750 million stake in digital unit to Silver Lake
Reliance Industries Ltd said on Monday private equity firm Silver Lake will invest nearly $750 million in its digital arm, days after securing a $5.7 billion investment from Facebook as the Indian conglomerate looks to pare debt.
Categories: Reuters