Feed aggregator

Global smartphone shipments will fall nearly 12% to 1.2 billion units in 2020, market research firm IDC said on Wednesday, citing lower consumer spending due to the economic impact of the coronavirus crisis.

Coty Inc is in talks with reality TV star Kim Kardashian West over a potential collaboration for a beauty line, the cosmetics maker disclosed in a regulatory filing on Wednesday.

Europe's biggest travel company, TUI Group , said it has struck a deal with Boeing for compensation and deferred deliveries of the grounded 737 MAX jet, boosting its finances as it seeks to survive the coronavirus pandemic.

A jump in Boeing shares lifted Wall Street on Wednesday, with investors remaining optimistic about an economic rebound from a coronavirus-led slump amid continuing social unrest in the country.

French luxury goods group LVMH's $16.2 billion takeover of Tiffany & Co is looking less certain as the jeweler grapples with a deteriorating situation in the U.S. market brought on by a global pandemic and severe social unrest, fashion trade publication WWD reported on Tuesday.

Nissan's car manufacturing plant in Sunderland, northern England, which employs 7,000, is "unsustainable" if Britain leaves the European Union without a trade deal, it said on Wednesday.

A gauge of global equity markets rose and the euro gained against the dollar on Wednesday, both for a seventh session, in signs of strong risk appetite as easing lockdowns and hopes for more monetary stimulus boosted investor confidence.

Deutsche Bank could face enforcement action by New York regulators investigating its ties to the late U.S. financier and accused sex offender Jeffrey Epstein, two sources familiar with the investigation told Reuters on Wednesday.

French government and industry officials are negotiating a 1-billion-euro, privately led investment fund for small aerospace suppliers in which major manufacturers could invest 200 million euros, people familiar with the proposals said on Wednesday.

Oil fell on Wednesday after jumping for awhile above $40 a barrel, the highest since March, then 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.

SoftBank Group Corp is launching a $100 million fund to invest in "companies led by founders and entrepreneurs of colour", in the latest corporate action as protests roil the United States.

New orders for U.S.-made goods plunged in April and business spending plans on equipment were much weaker than initially thought, suggesting business investment remained depressed early in the second quarter amid the COVID-19 pandemic.

A jump in Boeing shares lifted Wall Street on Wednesday, with investors remaining optimistic about an economic rebound from a coronavirus-led slump amid continuing social unrest in the country.

President Donald Trump's administration said on Wednesday it will bar Chinese passenger carriers from flying to the United States starting on June 16 as it pressures Beijing to allow U.S. air carriers to resume flights.

Airbus is looking to hold underlying jet output at 40% below pre-pandemic plans for two years, an approach which adds new pressure to cut thousands of jobs, industry sources said.

Lufthansa has pledged a wide-ranging restructuring, from thousands of job cuts to asset sales, as it seeks to repay a 9 billion euro ($10.1 billion) state bailout and navigate deepening losses in the face of the coronavirus pandemic.

New orders for U.S.-made goods plunged in April, suggesting business spending remained depressed early in the second quarter amid the COVID-19 pandemic.

Warner Music Group Corp said on Wednesday it raised $1.93 billion in the biggest U.S. initial public offering (IPO) so far in 2020, with the world's third-largest recording label selling more shares than originally planned.

Airlines cut domestic fares by an average 23% last month as traffic picked up from April lows, global industry body IATA said on Wednesday, warning that post-coronavirus discounting posed a further threat to profitability.

President Donald Trump's administration plans to bar Chinese passenger carriers from flying to the United States starting in mid-June as it pressures Beijing to allow U.S. air carriers to resume flights, three U.S. and airline officials briefed on the matter told Reuters.