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Uber signals recovery in rides as lockdown restrictions ease

Reuters Business News - Wed, 06/03/2020 - 15:40
Uber Technologies Inc said on Wednesday trip requests were gradually picking up, but still remained significantly below prior year levels, as several countries start to lift coronavirus-led restrictions.
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Shares, euro climb on robust risk appetite as lockdowns ease

Reuters Business News - Wed, 06/03/2020 - 15:31
Global equity markets rallied and the euro rose against the dollar on Wednesday, both for a seventh straight session, indicating strong risk appetite as easing lockdowns and hopes for more monetary stimulus boosted investor confidence.
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U.S. House panel says opposes any U.S. trade deal with Brazil

Reuters Business News - Wed, 06/03/2020 - 15:27
The U.S. House Ways and Means Committee said on Wednesday it opposed the Trump administration's plan to expand economic ties to Brazil under the leadership of President Jair Bolsonaro, given its record on human rights and the environment.
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Bacardi family member fights for reshuffle at spirits group

Reuters Business News - Wed, 06/03/2020 - 15:22
Monika Bacardi, a member of the family owning the maker of the eponymous rum, said her Liechtenstein-based trust was blocking her attempt to reshuffle the management team at the spirits group, uncovering a fight inside the family.
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U.S. labor market stabilizing as layoffs abate

Reuters Business News - Wed, 06/03/2020 - 15:17
U.S. private payrolls fell less than expected in May, suggesting layoffs were abating as businesses reopen, though the overall economy's recovery from the COVID-19 pandemic will be slow.
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Oil moves higher, hovers below $40 as doubts emerge over next step on OPEC cuts

Reuters Business News - Wed, 06/03/2020 - 14:57
Oil ended slightly higher on Wednesday but remained below the session's early highs above $40 a barrel, the highest since March, retreating as doubts emerged about the timing and scale of a potential extension to the pact between OPEC and its allies to cut crude supplies.
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Delta will extend social distancing through Sept. 30

Reuters Business News - Wed, 06/03/2020 - 14:45
Delta Air Lines Inc said on Wednesday it will extend social distancing measures on its flights through Sept. 30 and will block the selection of middle seats and cap seating in every cabin.
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U.S. indicts Pilgrim's Pride Corp CEO for alleged chicken price-fixing

Reuters Business News - Wed, 06/03/2020 - 14:11
The chief executive of Pilgrim's Pride Corp, a major U.S. poultry company, was indicted along with three other current and former industry executives on charges of seeking to fix the price of chickens, the Justice Department said on Wednesday.
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Trump administration to bar Chinese passenger carriers from flying to U.S.

Reuters Business News - Wed, 06/03/2020 - 14:04
President Donald Trump's administration on Wednesday barred Chinese passenger carriers from flying to the United States starting on June 16 as it pressures Beijing to let U.S. air carriers resume flights amid simmering tensions between the world's two largest economies.
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Exclusive: Ex-Enron CEO Skilling launching new digital marketplace for oil investors - sources

Reuters Business News - Wed, 06/03/2020 - 13:53
Former Enron CEO Jeffrey Skilling, released last year after a 14-year prison term stemming from the energy firm's collapse, is raising funds to launch a digital marketplace catering to professional oil and gas investors, according to four people familiar with the matter.
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Virus-hit U.S. state revenue could start slow recovery in third quarter: analysts

Reuters Business News - Wed, 06/03/2020 - 13:46
U.S. state tax revenue, which plunged due to the economic fallout from the coronavirus pandemic, could start to slowly recover this summer as long as the outbreak does not undergo a resurgence, analysts said.
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Apple must face U.S. shareholder lawsuit over CEO's iPhone, China comments

Reuters Business News - Wed, 06/03/2020 - 13:43
A federal judge said Apple Inc must face part of a lawsuit claiming it fraudulently concealed falling demand for iPhones, especially in China, leading to tens of billions of dollars in shareholder losses.
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Wall Street surges on signs of economic rebound

Reuters Business News - Wed, 06/03/2020 - 13:13
Wall Street jumped in a broad rally on Wednesday, closing ground on all-time highs as signs of recovery from mandated economic shutdowns helped investors look beyond ongoing social unrest and pandemic woes.
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New U.S. restrictions on 33 Chinese firms and institutions take effect June 5

Reuters Business News - Wed, 06/03/2020 - 13:09
The U.S Commerce Department said on Wednesday that new restrictions on 33 Chinese firms and institutions it announced last month will take effect Friday.
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Oil hovers below $40 as doubts emerge over next step on OPEC cuts

Reuters Business News - Wed, 06/03/2020 - 13:05
Oil pulled back slightly on Wednesday after briefly jumping above $40 a barrel, the highest since March, retreating as doubts emerged about the timing and scale of a potential extension to the pact between OPEC and its allies to cut crude supplies.
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Citigroup chief compliance officer Mark Carawan retires

Reuters Business News - Wed, 06/03/2020 - 12:59
Citigroup Inc said on Wednesday its chief compliance officer Mark Carawan is retiring after eight years at the firm, effective June 8.
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Walmart removes firearms, ammunition from floor display as protests rage in U.S.

Reuters Business News - Wed, 06/03/2020 - 12:17
Walmart Inc said on Wednesday it shifted firearms and ammunition out of sales floors of some U.S. stores amid nationwide protests over the death of an unarmed black man at the hands of police last week.
Categories: Reuters

Gilead's remdesivir could see $7 billion in annual sales on stockpiling boost: analyst

Reuters Business News - Wed, 06/03/2020 - 12:15
Gilead Sciences Inc's potential COVID-19 treatment, remdesivir, could bring in more than $7 billion in annual sales by 2022, spurred by governments stockpiling the drug to guard against future outbreaks, SVB Leerink said on Wednesday.
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Heads of U.S. automakers, other Michigan companies condemn racism, injustice

Reuters Business News - Wed, 06/03/2020 - 12:13
Top executives of the Detroit Three automakers and other major Michigan employers on Wednesday condemned racism and injustice in the United States following the death last week of an unarmed black man at the hands of Minneapolis police, carefully joining a charged national debate.
Categories: Reuters

Wall Street rises on Boeing, economic recovery hopes

Reuters Business News - Wed, 06/03/2020 - 12:12
A jump in Boeing shares led Wall Street higher on Wednesday, with investors hopeful of a rebound from a coronavirus-led economic slump amid continuing social unrest in the country.
Categories: Reuters
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