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Germany's Bosch to begin restarting operations in Mexico

Reuters Business News - Wed, 05/27/2020 - 20:42
German automotive supplier Bosch on Monday said it has received government approval in Mexico to restart operations, which had been suspended since late March due to measures taken to curb the spread of the novel coronavirus.
Categories: Reuters

Facebook's Zuckerberg says government censoring social media not the 'right reflex'

Reuters Business News - Wed, 05/27/2020 - 20:40
Facebook Inc's Chief Executive Officer Mark Zuckerberg, commenting on U.S. President Donald Trump's threats against social media companies, said on Wednesday censoring a platform would not be the "right reflex" for a government worried about censorship.
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Factbox: Where do Trump and Biden stand on tech policy issues?

Reuters Business News - Wed, 05/27/2020 - 20:40
U.S. President Donald Trump on Wednesday threatened to regulate or shut down social media companies, a day after Twitter Inc for the first time added a fact-checking label to some of his tweets about mail-in ballots.
Categories: Reuters

Micron raises third-quarter revenue forecast

Reuters Business News - Wed, 05/27/2020 - 20:35
Micron Technology Inc raised its revenue forecast for the third quarter on Wednesday to a range of $5.2 billion to $5.4 billion from $4.6 billion to $5.2 billion, sending its shares about 3% higher.
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Billionaire Icahn exits Hertz with 'significant' loss after bankruptcy filing

Reuters Business News - Wed, 05/27/2020 - 20:16
Billionaire investor Carl Icahn, who was the largest shareholder in Hertz Global Holdings Inc, unloaded his entire stake in the rental car company at a "significant loss" days after it filed for bankruptcy protection.
Categories: Reuters

Asian stocks gain on economic hopes, Hong Kong remains a risk

Reuters Business News - Wed, 05/27/2020 - 20:05
Asian shares and U.S. stock futures rose on Thursday as growing optimism about economic recovery from the coronavirus pandemic trumped immediate concerns about a standoff between the United States and China over Hong Kong.
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Oil drops on worse than feared rise in U.S. fuel stocks

Reuters Business News - Wed, 05/27/2020 - 20:01
Oil prices fell in early trade on Thursday after U.S. crude, gasoline and heating oil inventories all rose more than expected, dousing hopes of a smooth recovery in demand from coronavirus lockdowns.
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Nissan to set out survival plan after expected annual loss

Reuters Business News - Wed, 05/27/2020 - 19:07
Nissan Motor Co will unveil its plan to become a smaller, more cost-efficient automaker on Thursday as it looks to recover from four years of tumbling profits which are set to culminate in its first annual operating loss in 11 years.
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Asian shares set to sag on U.S.-China woes

Reuters Business News - Wed, 05/27/2020 - 19:01
Asian shares are likely to dip on Thursday after remarks by U.S. Secretary of State Mike Pompeo that Hong Kong no longer warranted special treatment under U.S. law reignited worries about worsening relations with Beijing.
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Nissan Motor to close Barcelona plant: El Pais

Reuters Business News - Wed, 05/27/2020 - 18:49
Japan's Nissan Motor Co will close its factory in Barcelona, resulting in the loss of about 2,800 jobs, Spanish newspaper El Pais reported, citing government and union sources.
Categories: Reuters

Wall Street rises with economic hopes; bank stocks jump

Reuters Business News - Wed, 05/27/2020 - 18:34
U.S. stocks rose on Wednesday, with the S&P 500 closing above 3,000 for the first time since March 5, as the further easing of lockdowns lifted optimism for an economic recovery.
Categories: Reuters

U.S. states sue Trump administration over fuel efficiency rollback

Reuters Business News - Wed, 05/27/2020 - 18:09
A group of 23 U.S. states and the District of Columbia filed a lawsuit on Wednesday challenging a Trump administration decision to weaken Obama-era fuel efficiency standards.
Categories: Reuters

Trump will sign an executive order on social media companies: White House spokeswoman

Reuters Business News - Wed, 05/27/2020 - 17:40
U.S. President Donald Trump will sign an executive order shortly regarding social media companies, a White House spokeswoman said on Wednesday.
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Trump threatens social media shutdown over Twitter fact-check label

Reuters Business News - Wed, 05/27/2020 - 17:40
U.S. President Donald Trump on Wednesday threatened to regulate or shut down social media companies for stifling conservative voices, a day after Twitter attached a warning to some of his tweets prompting readers to fact check the president's claims.
Categories: Reuters

Exxon shareholders soundly reject splitting CEO/chairman roles

Reuters Business News - Wed, 05/27/2020 - 17:20
Exxon Mobil Corp shareholders soundly rejected climate-related proposals and splitting the chairman and chief executive's roles at the oil major's shareholder meeting on Wednesday.
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JPMorgan's investment banking head: quarterly revenues tracking 50% up from 2019

Reuters Business News - Wed, 05/27/2020 - 17:06
JPMorgan Chase & Co's head of its corporate and investment banking division said second-quarter revenues for its markets unit are on track to be up more than 50% higher than the same period last year, thanks to extremely strong fixed income and equities trading revenues.
Categories: Reuters

Carl Icahn exits Hertz with 'significant' loss

Reuters Business News - Wed, 05/27/2020 - 17:02
Billionaire investor Carl Icahn said on Wednesday he had sold his entire equity position in Hertz Global Holdings Inc at a "significant loss", days after the car rental pioneer filed for bankruptcy protection.
Categories: Reuters

Luxury homebuilder Toll Brothers scraps 2020 forecast on COVID-19 woes

Reuters Business News - Wed, 05/27/2020 - 16:32
U.S. luxury homebuilder Toll Brothers Inc on Wednesday withdrew its full-year forecast and warned it would not provide such guidance for the foreseeable future due to uncertainty caused by the COVID-19 pandemic.
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United reshuffles management as it prepares for uncertain recovery

Reuters Business News - Wed, 05/27/2020 - 16:25
United Airlines Holdings Inc is reshuffling its management team to help the airline prepare for the near-term uncertainty of travel demand, new Chief Executive Scott Kirby told employees on Wednesday, as restrictions to keep the coronavirus from spreading are lifted.
Categories: Reuters

Boeing resumes 737 MAX production at low rate

Reuters Business News - Wed, 05/27/2020 - 16:23
Boeing Co on Wednesday said it has resumed production of its 737 MAX passenger jet at the company’s Renton, Washington, plant at a "low rate" after halting production in January following two crashes that killed 346 people.
Categories: Reuters
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