Reuters Business News

Milan's Arbitral Tribunal has judged that the contracts over the sale of Italy's RCS headquarters to Blackstone in 2013 were valid but found that the purchaser's behaviour may entitle the Italian publisher to compensatory damages, RCS said on Tuesday.

U.S. stocks jumped on Tuesday, propelling the S&P 500 past the key psychological level of 3,000 points as optimism about developing coronavirus vaccines and the revival of business activity helped investors overlook simmering China-U.S. tensions.

New York Governor Andrew Cuomo donned a face mask and rang the opening bell at the New York Stock Exchange on Tuesday, marking the partial reopening of the trading floor at the iconic 11 Wall Street building, which had been closed since March 23 due to the coronavirus.

The novel coronavirus outbreak and economic fallout is proving to be a bonanza for whistleblower lawyers as the U.S. securities regulator cracks down on a range of related misconduct from companies touting sham cures to misuse of federal aid.

JPMorgan Chase & Co Chief Executive Officer Jamie Dimon said on Tuesday that he expects the bank will boost its credit reserves again in the second quarter by an amount "roughly equivalent" to the $7 billion it added in the first quarter to protect the bank from a potential wave of loan defaults.

Warner Music Group said on Tuesday it is aiming to sell up to $1.82 billion in stock in its U.S. initial public offering, potentially the largest New York IPO so far in 2020 as the market for new stocks rebounds after the COVID-19 pandemic put many debuts on hold.

U.S. stocks jumped and the S&P 500 crossed 3,000 points on Tuesday as optimism about a potential coronavirus vaccine and a revival in business activity helped investors overlook simmering Sino-U.S. tensions.

Apple Inc plans to reopen about 100 U.S. stores, mostly with curbside pickup but some with walk-in service, the company said on Tuesday.

Oil prices rose on Tuesday, supported by growing confidence that producers are following through on commitments to cut supplies and as fuel demand picks up with coronavirus restrictions easing.

U.S. consumer confidence nudged up in May, suggesting the worst of the novel coronavirus-driven economic slump was likely in the past as the country starts to reopen, but it could take a while for the economy to dig out of its hole amid record unemployment.

Norway's Equinor ASA , Brazil's Dommo Energia SA and Anglo-French firm Perenco are among at least six oil producers that have registered coronavirus cases among employees or contractors at facilities off the coast of Brazil, according to industry and regulatory sources.

Apple Inc said on Tuesday that it plans to reopen about 100 stores in the United States, most with curbside pickup but some with walk-in service.

Austria's government and Lufthansa-owned carrier Austrian Airlines on Tuesday reached agreement on loans for the airline and to keep Vienna airport as a long-haul hub, a major step forward in the rescue negotiations, daily Kurier said.

AXA will meet the bulk of business interruption claims from some restaurant owners in France, it said on Tuesday, after losing a court case seen as a potential precedent for coronavirus-related disputes across the world.

Low-cost carrier Ryanair challenged Germany's 9 billion euro rescue package for Lufthansa on Tuesday, saying it distorted competition, while the German carrier moves towards finalising the deal next month.

German carmaker BMW said on Tuesday it would begin a gradual restart of operations at its plant in the central Mexican state of San Luis Potosi on Wednesday, May 27.

Shares in LATAM Airlines Group SA plunged 51% on Santiago´s stock exchange after the region´s top carrier filed for U.S. bankruptcy protection on Tuesday.

U.S. car rental company Hertz Global Holdings said on Tuesday it has paid about $16.2 million in retention bonuses to a range of key executives at the director level and above, days after the company filed for bankruptcy protection.

U.S. stocks jumped and the S&P 500 breached 3,000 points on Tuesday as optimism about a potential coronavirus vaccine and a revival in business activity helped investors overlook simmering Sino-U.S. tensions.

Heavy debts inherited from government bailouts and other fund-raising moves will delay the airline industry's recovery from the coronavirus crisis, a trade body said on Tuesday.