Reuters Business News

American Airlines Group Inc told employees on Thursday that 14 officers will be as leaving the company as part of leadership changes in which another five officer positions will not be filled, according to memos seen by Reuters.

The boss of British Airways said its parent company IAG was burning through 178 million pounds ($223 million) a week and could not guarantee its survival, prompting him to urge unions to engage over 12,000 job cuts.

U.S. senators announced a bill on Thursday expanding sanctions on Russia's Nord Stream 2 natural gas pipeline and targeting the project Washington says will boost Moscow's economic and political influence in Germany and other European countries.

The U.S. Transportation Department plans to issue a revised order in the coming days that is likely to allow some Chinese passenger airline flights to continue, government and airline officials said.

Oil prices were little changed in choppy trade on Thursday as investors awaited a decision from top crude producers on whether to extend record output cuts.

Shares of Slack Technologies dipped 3% on Thursday ahead of the workplace communication platform's quarterly report, pausing a three-month rally fueled by millions of people working from home due to the coronavirus.

Bayer AG has been blocked from selling an agricultural weed killer in the United States, the latest setback for a business already fighting an expensive legal battle over another product.

U.S. President Donald Trump on Thursday is expected to sign an executive order that would give federal agencies emergency powers to fast-track major energy and other infrastructure projects by overriding environmental permitting requirements, two sources familiar with the proposal said.

Wall Street retreated on Thursday as investors hit the pause button in advance of Friday's jobs report, capping a four-day rally driven by rising economic sentiment.

A massive Pennsylvania plastics project that President Donald Trump touted during a visit last year faces risks of oversupply and a low price outlook for the materials, a report by an institute that examines energy issues said on Thursday.

Volkswagen is resuming deliveries of its Golf 8 model after fixing a software glitch, a spokesman said on Thursday.

Expectations that the global economy has dodged the worst-case scenarios for the coronavirus pandemic have led to a dramatic selloff in U.S. government bonds from their record highs, pushing the yield curve to its steepest level since March.

The Nasdaq 100 index retreated from an intraday record high on Thursday, with the S&P 500 and Dow Jones indexes also slipping as a rally fueled by hopes of a post-coronavirus economic recovery fizzled out.

Germany has become the second major European economy to use a multi-billion-euro recovery plan to spur clean driving, with incentives for electric cars that should boost Volkswagen and Tesla , while polluting SUVs face higher taxes.

The combined wealth of America's billionaires, including Amazon.com Inc founder Jeff Bezos and Facebook Inc CEO Mark Zuckerberg, jumped over 19% or by half a trillion since the onset of the COVID-19 pandemic in the United States, according to a report published by the Institute for Policy Studies (IPS).

American Airlines Group Inc shares jumped by 25% after it said Thursday it will significantly boost its U.S. flight schedule next month after dramatic reductions caused by the coronavirus pandemic, flying more than 55% of its July 2019 domestic capacity.

Oil prices fell on Thursday on doubts over the ability of top crude producers to agree to extend record output cuts, heightened by worries over a build in U.S. fuel inventories.

A 6.3 billion euro ($7 billion) state-backed loan for Fiat Chrysler (FCA) , financed by Intesa Sanpaolo , is crucial in terms of safeguarding Italy's economy, the head of the country's biggest retail bank said.

Fiat Chrysler will file regular reports on its use of a multi-billion euro state-backed loan which Italy is set to approve soon and will face sanctions if it does not respect commitments attached to the package, the economy minister said.

The European Central Bank approved a bigger-than-expected expansion of its stimulus package on Thursday to prop up an economy plunged by the coronavirus pandemic into its worst recession since World War Two.