Feed aggregator

Asia's stock markets fell and gold hit a one-week high on Thursday as worries about a second wave of coronavirus infections and a dour assessment of the way back from the head of the U.S. Federal Reserve dashed hopes for a quick recovery.

Casual clothing chain Uniqlo has reopened more stores in the past week and plans to resume business at more shops in coming days as governments ease coronavirus restrictions, its owner Fast Retailing said on Thursday.

Uber Technologies, Inc. on Wednesday said it will require drivers, delivery workers and riders globally to wear a mask as countries around the world begin easing restrictions aimed at curbing the spread of the coronavirus.

Asian equities were set to slump on Thursday after the head of the Federal Reserve warned of a "significantly worse" U.S. recession than any downturn since World War Two because of coronavirus pandemic fallout, sentiments that drove bonds higher on a safety bid.

Uber Technologies Inc is in negotiations to buy online food delivery company Grubhub Inc in an all-stock deal, according to people familiar with the matter.

Wall Street's three major indexes closed lower for the second day in a row after Federal Reserve Chairman Jerome Powell warned on Wednesday of extended economic weakness due to the coronavirus pandemic and called for Congress to agree on additional fiscal support.

Mexico will begin opening some automotive factories from May 18 under a plan unveiled on Wednesday that loosens coronavirus restrictions and paves the way for U.S. car giants to ramp up output dependent on parts made south of the border.

Federal Reserve Chair Jerome Powell had a clear message to interest rate futures traders on Wednesday: Bets that the U.S. central bank will pursue a negative interest-rate policy are off-base.

The U.S. economy lost a record 20.537 million jobs in April and not 20.5 million as reported last Friday, according to revised data published by the Labor Department this week.

Brazil airline Gol Linhas Aereas Inteligentes said on Wednesday it will receive up to 2.4 billion reais ($412 million) from Boeing Co as compensation for the grounding of the 737 MAX plane, in a mix of cash and credits.

Tesla Inc and officials in California have resolved their acrimonious clash over safety procedures at the automaker’s sole U.S. assembly plant with a deal that allows production to resume as early as Monday, county officials said.

Stock markets tumbled on Wednesday on fears about a second wave of coronavirus infections and warnings from Federal Reserve Chairman Jerome Powell that the U.S. faces a "significantly worse" recession than any downturn since World War Two, while bonds rose on a safety bid.

Airbus is exploring restructuring plans involving the possibility of "deep" job cuts as it braces for a prolonged coronavirus crisis after furloughing thousands of workers, industry sources said, though no decision is imminent.

Shareholder activists prodding Exxon Mobil Corp on climate-change proposals are backing calls for an independent board chairman as the oil major steps up efforts to keep climate proposals off its ballot.

Online retailer Amazon.com, criticized for not acting quickly enough to curb sellers who charged hundreds of dollars for high-demand hand sanitizer during the early phase of the new coronavirus pandemic, urged Congress on Wednesday to pass a law against price gouging during times of national emergency.

The head of the Federal Reserve warned on Wednesday of an "extended period" of weak economic growth, vowed to use the U.S. central bank's power as needed, and called for additional fiscal spending to stem the fallout from the coronavirus pandemic.

U.S. stocks fell sharply for the second day on Wednesday after Federal Reserve Chairman Jerome Powell warned of extended economic weakness due to the coronavirus pandemic but did not mention new central bank support.

Federal Reserve Chair Jerome Powell, in a sober review of where the U.S. economy stands on the cusp of its reopening, said on Wednesday the country could face an "extended period" of weak growth and stagnant incomes, pledged to use more Fed power as needed, and issued a call for more fiscal spending.

Jerome Powell, chairman of the Federal Reserve board of governors, warned Wednesday that the long-term health of the U.S. economy may depend on more fiscal stimulus to fight the economic impacts of the coronavirus.

Deutsche Bank's regulators in the United States have criticised the German lender in an internal audit for weaknesses in fighting money laundering and in risk management, according to a German newspaper on Wednesday.