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Asia stocks make cautious gains as China worries slow recovery rally

Reuters Business News - Mon, 06/01/2020 - 22:05
Asian stocks eked out gains on Tuesday as investors' focus on the prospects of a global coronavirus recovery won out over familiar worries about Sino-U.S. relations and the depth of economic damage.
Categories: Reuters

Oil prices inch up ahead of OPEC+ meeting on extended output cuts

Reuters Business News - Mon, 06/01/2020 - 21:29
Oil prices crawled higher on Tuesday, with traders waiting to see whether major producers agree to extend their huge output cuts to shore up prices at a meeting expected later this week.
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Facebook staffers walk out saying Trump's posts should be reined in

Reuters Business News - Mon, 06/01/2020 - 20:49
Facebook employees walked away from their work-from-home desks on Monday and took to Twitter to accuse Chief Executive Mark Zuckerberg of inadequately policing U.S. President Donald Trump's posts as strictly as the rival platform has done.
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Ryanair must face U.S. shareholder lawsuit over unionization comments

Reuters Business News - Mon, 06/01/2020 - 20:47
Ryanair Holdings Plc and Chief Executive Michael O'Leary failed to persuade a U.S. judge to dismiss a securities fraud lawsuit accusing Europe's largest budget airline of defrauding them by downplaying its willingness to recognize labor unions.
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SoftBank Vision Fund head's pay doubled last year despite massive losses

Reuters Business News - Mon, 06/01/2020 - 19:57
(This May 29 story corrects Mizuho borrowing to 912 million, not 1.39 trillion yen, in paragraph 6 and borrowing from the three big Japanese banks to almost 2 trillion yen, not 2.45 trillion yen, in paragraph 7 after SoftBank issues corrected filing)
Categories: Reuters

Workers return to Mexico's border factories as auto sector reopens

Reuters Business News - Mon, 06/01/2020 - 19:47
Tens of thousands of workers lined up before dawn to return to work at automotive factories along Mexico's northern border on Monday, the first day that industries joined the country's list of essential activities beginning to reopen.
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Oil prices hold ground ahead of OPEC+ meeting on extended output cuts

Reuters Business News - Mon, 06/01/2020 - 19:39
Oil prices rose in early trade on Tuesday, with traders waiting to see whether major crude producers agree to extend their huge output cuts to shore up prices at a meeting expected later this week.
Categories: Reuters

U.S. court refuses to shield Volkswagen in diesel scandal lawsuits

Reuters Business News - Mon, 06/01/2020 - 19:17
A U.S. appeals court ruled on Monday that Volkswagen AG cannot escape potential financial penalties from two counties in Florida and Utah that may amount to a "staggering" additional liability arising from the German automaker's diesel emissions scandal.
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Stocks under pressure as Trump vows to end violent protests

Reuters Business News - Mon, 06/01/2020 - 19:02
Asian stocks were set to come under pressure on Tuesday following a dip in Wall Street futures as U.S. President Donald Trump vowed to use force to end violent protests in American cities, souring a previously upbeat market mood.
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Boeing takes Embraer to arbitration over failed aviation deal

Reuters Business News - Mon, 06/01/2020 - 18:07
Boeing Co has taken former partner Embraer SA to arbitration over a failed $4.2 billion deal, the Brazilian planemaker said in a securities filing on Monday night.
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Facebook, Snapchat join chorus of companies condemning George Floyd death, racism

Reuters Business News - Mon, 06/01/2020 - 17:54
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.
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Wall Street closes higher as recovery signs soothe protest, pandemic worries

Reuters Business News - Mon, 06/01/2020 - 17:32
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.
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Visa sees recovery in U.S. payments volume in May

Reuters Business News - Mon, 06/01/2020 - 16:43
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.
Categories: Reuters

Facebook's Zuckerberg faces employee backlash over Trump protest comments

Reuters Business News - Mon, 06/01/2020 - 16:09
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.
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U.S. companies issue shares at fastest rate ever, selling the rally

Reuters Business News - Mon, 06/01/2020 - 15:43
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.
Categories: Reuters

World equities edge higher despite U.S.-China tensions

Reuters Business News - Mon, 06/01/2020 - 15:38
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.
Categories: Reuters

Oil steady; U.S.-China tensions weigh, possible output cuts support

Reuters Business News - Mon, 06/01/2020 - 14:37
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.
Categories: Reuters

Volkswagen says ready to restart Mexico operations on June 15

Reuters Business News - Mon, 06/01/2020 - 14:23
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.
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Nestle to appeal ban on 'Incredible Burger' branding in Europe

Reuters Business News - Mon, 06/01/2020 - 14:11
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.
Categories: Reuters

U.S. appeals court: Volkswagen may face 'enormous' diesel liability

Reuters Business News - Mon, 06/01/2020 - 13:56
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.
Categories: Reuters
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