Reuters Business News

Facebook Inc and Snapchat developer Snap Inc became the latest U.S. companies condemning racial inequality in the United States as violent protests flared up across major cities over the death of George Floyd, an unarmed black man who died while in police custody in Minneapolis last week.

U.S. stocks posted gains on Monday as signs of U.S. economic recovery helped offset jitters over increasingly violent social unrest amid an ongoing pandemic and rising U.S.-China tensions.

Visa Inc's total U.S. payments volume fell at a much slower pace in May from the previous month, indicating that consumer spending was picking up as the government starts to ease coronavirus-induced lockdowns.

Facebook employees accusing Chief Executive Mark Zuckerberg of inadequately policing U.S. President Donald Trump's posts took to Twitter to praise the rival social media platform for acting and rebuke their own employer.

U.S. public companies sold more than $60 billion in shares in May, the biggest monthly haul ever, as they capitalized on a stock market rally fueled by hopes that the COVID-19 pandemic is subsiding.

World stock markets hovered near three-month highs and safe-haven government bonds inched lower as risk appetite grew on signs that the global economic downturn has bottomed, despite worries over violent protests in the United States and unease over Washington's standoff with Beijing.

Oil futures steadied on Monday as rising U.S.-China tensions weighed on sentiment, but prices drew support from reports that OPEC and Russia were close to a deal extending output cuts.

The Mexican unit of Germany's Volkswagen AG said on Monday the automaker was ready to restart operations in the states of Puebla and Guanajuato on June 15 after activity was idled in late March due to the coronavirus pandemic.

Nestle said on Monday it would appeal a Dutch court's ruling that prohibits the Swiss food giant from selling its plant-based burgers in Europe under the "Incredible Burger" name after a challenge from U.S.-based Impossible Foods.

A U.S. appeals court ruled Monday Volkswagen AG may face "enormous" additional liability in the "Dieselgate" scandal finding that two counties can enforce regulations against the German automaker for tampering with post-sale vehicles.

Marriott International has reopened all its hotels in China and is seeing a steady recovery in the United States, its biggest market, Chief Executive Officer Arne Sorenson said on Monday.

The U.S. Supreme Court on Monday refused to hear a bid by major banks and companies including Koch Industries Inc to prevent a trustee chasing money for victims of imprisoned Ponzi scheme swindler Bernard Madoff from recouping funds that were transferred overseas.

As U.S. businesses reopen after weeks of pandemic lockdowns, many have been posting coronavirus disclaimers or requiring employees and patrons to sign waivers before entering.

Aerolineas Argentinas will begin negotiations with unions to suspend the contracts of thousands of employees until August after the flag carrier's income plunged about 97% due to the coronavirus outbreak, it said on Monday.

Wall Street stocks posted modest gains on Monday as signs suggesting the U.S. economy may be on the road to recovery helped soothe jitters over increasingly violent social unrest and rising U.S.-China tensions.

U.S. manufacturing activity eased off an 11-year low in May, the strongest sign yet that the worst of the economic downturn was behind as businesses reopen, though the recovery from the COVID-19 crisis could take years because of high unemployment.

China has told state-owned firms to halt purchases of soybeans and pork from the United States, two people familiar with the matter said, after Washington said it would eliminate special treatment for Hong Kong to punish Beijing.

Nissan Motor Co has estimated the closure of its plants in Barcelona could cost up to around 1.5 billion euros ($1.7 billion), a union source told Reuters on Monday.

Wall Street's major indexes rose on Monday as investors chose to look past violent protests across the country over racial inequality and focused more on economic data that bolstered views of a quick post-pandemic recovery.

Coty Inc said on Monday Peter Harf, chairman of both the company and its top investor JAB Holdings, would return as chief executive officer after nearly two decades to help the cosmetics maker revive its business amid the coronavirus crisis.