Feed aggregator

Total has called off a plan to acquire Occidental Petroleum's assets in Ghana, which was conditional on the completion of the acquisition of Occidental's other assets in Algeria, the French energy company said on Monday.

U.S. stocks surged on Monday, with the S&P 500 hitting a 10-week high, as encouraging early data from a potential coronavirus vaccine trial boosted sentiment, with investors also hoping for stimulus to cushion the economic blow from the pandemic.

The global economy will take much longer to recover fully from the shock caused by the new coronavirus than initially expected, the head of the International Monetary Fund said, and she stressed the danger of protectionism.

Wall Street's main indexes surged on Monday as encouraging early data from a potential coronavirus vaccine trial boosted sentiment, with investors also counting on more stimulus to rescue the U.S. economy from a deep slowdown.

Huawei Technologies in its first official response to the Trump administration's move to curb its access to global chip supplies called it "arbitrary" and said its business would be impacted.

Amazon's French warehouses are set to reopen on Tuesday with about 30% of employees, three union officials said, ending a month-long dispute over whether the e-commerce giant was doing enough to protect workers from the coronavirus pandemic.

Uber Technologies Inc will concentrate on its core businesses in ride-hailing and food delivery, Chief Executive Officer Dara Khosrowshahi said in an email to employees on Monday, announcing the company's second round of job cuts during the coronavirus pandemic.

Americans increased their visits to supermarkets far more than to Walmart Inc stores as panic-buying peaked in mid-March, a Reuters analysis of foot traffic to retailers in the United States shows.

Oil prices jumped on Monday, with both U.S. and Brent benchmarks on track for their highest settles in two months, supported by optimism about resumption in economic activity and steady output cuts from major producers.

Uber Technologies Inc will cut about 3,000 jobs, in addition to the 3,700 it had announced earlier this month, as coronavirus-led restrictions sap demand for ride-hailing services, Chief Executive Officer Dara Khosrowshahi said in an email to employees on Monday.

SoftBank Group Corp CEO Masayoshi Son on Monday pinned his hopes on a small group of "winged unicorns" to save the performance of his $100 billion Vision Fund - although he gave few clues on which ones they would be.

Amazon's French warehouses are set to re-open on Tuesday with about 30% of employees, three union officials said, following an agreement with staff representatives last week.

Wall Street's main indexes surged on Monday as encouraging early data from a potential coronavirus vaccine trial boosted sentiment, with investors also counting on more stimulus to rescue the economy from a deep slowdown.

Oil prices jumped on Monday, with benchmark Brent hitting a one-month high and U.S. crude topping $30, supported by optimism about the reopening of economies and output cuts by major producers.

Confidence among U.S. single-family homebuilders rose in May, potentially signaling that the worst of the economic downturn was probably over as the country gradually reopens after lockdowns to slow the spread of the novel coronavirus.

Nissan Motor Co is working on a plan to scale back its European business, focusing on sport utility and commercial vehicles as well as more effective sharing of products and investments with partner Renault, three sources told Reuters.

Italians will be able to grab a cup of their favorite Starbucks coffee again after the group said on Monday it would reopen its Italian cafes, with the exception of its flagship location in central Milan.

U.S. stock indexes shot up in early trade on Monday as encouraging data from a potential COVID-19 vaccine trial fueled optimism, while investors also counted on more stimulus to rescue the economy from a virus-driven slump.

The U.S. auto industry slowly returned to life on Monday, with some vehicle assembly plants reopening after the coronavirus lockdown while suppliers geared up to support a sector that employs nearly 1 million people.

Chris and Amy Hillyard opened their Oakland, California restaurant late last month for the first time since mid-March, thanks in large part to a government loan aimed at tiding over small firms during the worst of the coronavirus crisis.