Reuters Business News

German insurer Allianz has struck a deal to invest in the bancassurance business of Spanish lender BBVA , the companies said on Monday, confirming an earlier report by Reuters.

Stocks rose across the globe on Monday as investors cheered news that more countries and U.S. states were looking to ease lockdowns and the Bank of Japan expanded its stimulus program, while the price of oil continued to crumble as storage runs out.

Brent crude fell below $20 a barrel and U.S. crude plunged 25% on Monday, driven lower by skittish investors fleeing the U.S. benchmark due to lack of available storage to deal with a coronavirus-induced collapse in demand.

Verizon Communications Inc , the largest U.S. wireless carrier, said Monday it will extend a commitment through June 30 not to cancel service or charge late fees to customers because of the coronavirus pandemic.

Wall Street advanced on Monday as investors girded for a busy earnings week while turning a hopeful eye toward several U.S. states that are relaxing shutdown restrictions put in place to curb the spread of the COVID-19 pandemic.

U.S. banks on Monday began another chaotic dash to grab $310 billion in fresh small-business aid released by the government, after 11th-hour changes to the first-come-first-served program led to technology issues for some lenders.

Brazil's Embraer SA on Monday said it had begun an arbitration process against Boeing Co, after the U.S. planemaker abruptly canceled a $4.2 billion deal over the weekend that was years in the making.

Bayer said the economic downturn and the need to preserve cash means it is taking a tougher stance in talks to settle claims over accusations that its glyphosate-based weedkillers cause cancer, even as its earnings rose.

An investor group that comprises investment firm Mudrick Capital Management LP and Daniel Loeb's hedge fund Third Point LLC plans to challenge a $600 million financing package that Neiman Marcus Group has lined up for its looming bankruptcy, and will push the U.S. department store operator to sell itself, people familiar with the matter said on Sunday.

Brent crude hovered around $20 a barrel and U.S. crude plunged 18% on Monday, driven lower by skittish investors fleeing the U.S. benchmark due to lack of available storage to deal with a coronavirus-induced collapse in demand.

European planemaker Airbus gave its starkest assessment yet of damage from the coronavirus crisis, telling the company's 135,000 employees to brace for potentially deeper job cuts and warning its survival is at stake without immediate action.

U.S. stock markets jumped more than 1% on Monday as more states prepared to ease stay-at-home orders and investors geared up for one of the busiest weeks of quarterly earnings reports, including from tech titans Apple and Microsoft.

General Motors Co said on Monday the automaker has suspended its quarterly cash dividend on its common stock and its share buybacks to save cash in the face of the coronavirus crisis that has severely hurt global automobile sales.

Airbus will furlough around 3,200 staff at its Broughton factory in Wales, the European planemaker said on Monday after it warned staff that the coronavirus crisis had put its survival at stake.

Fiat Chrysler resumed van production on Monday at its Atessa plant in central Italy, a week before the country plans to start lifting a national lockdown put in place to limit the spread of the coronavirus.

U.S. banks on Monday began another chaotic dash to grab $310 billion in fresh small business aid released by the government, after it changed some of the rules of the first-come-first-served program at the 11th hour.

Boeing Co reached a point where negotiation for Embraer’s commercial aerospace division “was no longer helpful,” chief executive Dave Calhoun told shareholders on Monday at the U.S. planemaker's annual general meeting.

Polish airline LOT is in talks with Boeing to modify its 787 Dreamliner jets into temporary cargo carriers, a LOT spokesman told Reuters, in a move that could help to narrow losses from the coronavirus crisis.

Adidas warned of an even bigger hit to second-quarter sales and profits from coronavirus lockdowns, after the German sportswear firm reported first-quarter earnings were almost wiped out and said it had not yet seen a full rebound in China.

As Americans delay elective surgeries and avoid doctors and hospitals during the coronavirus pandemic, healthcare spending declines have more than offset the added costs of COVID-19 care, insurance executives and experts say, boosting U.S. health insurer profits.