Reuters Business News

Freight-forwarder Kuehne+Nagel may cut more than 20,000 jobs, with warehouse workers most affected, as the coronavirus-caused economic crisis hits shipping, controlling shareholder Klaus-Michael Kuehne said in an interview.

An Uber customer on Friday asked a Manhattan federal judge to overturn an arbitration win for the company in a price-fixing case, arguing that the arbitrator only ruled in Uber's favor because he was scared.

A group of U.S. agencies on Friday asked the Federal Communications Commission (FCC) to reconsider its unanimous April 22 decision to allow Ligado Networks [MOSAV.UL] to deploy a low-power nationwide mobile broadband network, saying it could pose a threat to global positioning systems (GPS).

A range of business groups have made an 11th-hour appeal to U.S. President Donald Trump as he weighs whether to restrict temporary work visas, warning of negative economic consequences if he blocks the flow of skilled foreign workers into the United States.

The United States said on Friday it would add 33 Chinese firms and institutions to an economic blacklist for helping Beijing spy on its minority Uighur population or because of ties to weapons of mass destruction and China's military.

Unemployment rates rose and total employment fell in all 50 U.S. states and the District of Columbia in April as efforts to contain the coronavirus pandemic forced businesses to close across the country, the Labor Department said on Friday.

U.S. prosecutors have charged the recently ousted owner of a Hollywood movie distributor with defrauding a federal coronavirus emergency relief program and a BlackRock Inc investment fund, including to pay for a Beverly Hills mansion and other luxuries.

A group representing many major automakers on Friday backed the Trump administration's decision to weaken Obama administration fuel efficiency standards but said it opposed further reductions in requirements.

The U.S. Transportation Department said late on Friday it had granted tentative approval to 15 airlines to temporarily halt service to 75 U.S. airports because of the coronavirus pandemic.

Wall Street ended mixed on Friday in a mostly tame finish to a week of strong gains, as investors gauged China-U.S. tensions and amid ongoing uncertainty about the pace of economic recovery from the coronavirus.

United Airlines Holdings Inc said on Friday it would pay Chief Executive Officer Scott Kirby an annual base salary of $1 million, lower than what prior head Oscar Munoz received.

Car rental firm Hertz Global Holdings Inc is preparing to file for bankruptcy as soon as Friday night after failing to reach a standstill agreement with its top lenders, the Wall Street Journal reported https://on.wsj.com/2A4ONKs, citing people familiar with the matter.

The United States said on Friday it would add 33 Chinese firms and institutions to an economic blacklist for helping Beijing spy on its minority Uighur population or because of ties to weapons of mass destruction and China's military.

New Chinese national security restrictions imposed on Hong Kong could draw a U.S. revocation of the former British colony's "special status" under U.S. law, a move that would have far-reaching trade and investment implications.

Delta Air Lines Inc said https://news.delta.com/complimentary-care-kits-provide-delta-customers-travel-safety-essentials on Friday a care kit containing a disposable face mask and a Purell hand sanitizer gel will be available on request at ticket counters and gates by June 5.

Oil prices tumbled and global equity markets fell on Friday as China's move to impose a new security law on Hong Kong further strained U.S.-China relations and clouded economic recovery prospects.

The U.S. Commerce Department said on Friday it is adding 33 Chinese companies and other institutions to an economic blacklist for human rights violations and to address U.S. national security concerns involving weapons of mass destruction and other military activities.

Oil prices tumbled about 2% on Friday on rising U.S.-China tensions and doubts about how quickly fuel demand would recover from the coronavirus crisis.

Oil prices tumbled and global equity markets wavered on Friday as China's move to impose a new security law on Hong Kong further strained U.S.-Sino relations and clouded economic recovery prospects.

Italy's Economy Minister Roberto Gualtieri said on Friday he was confident the government and Fiat Chrysler would be able to complete a deal over a state-backed loan for the carmaker.