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Cash flows into U.S. growth funds surge, value funds see outflows

Reuters Business News - Thu, 06/18/2020 - 08:08
U.S. investors have ramped up investments in growth funds over the past few months on expectations of higher returns and safety, while they dumped value funds despite cheaper prices after this year's pandemic-linked selloff.
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U.S. Chamber urges China to accelerate purchases of U.S. goods

Reuters Business News - Thu, 06/18/2020 - 07:53
The U.S. Chamber of Commerce on Thursday underscored the importance of functional U.S.-China ties and urged Beijing to step up its purchases of U.S. goods and services as agreed under a Phase 1 trade deal despite delays caused by the coronavirus.
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Oil prices tick up as drop in U.S. product stocks encourages bulls

Reuters Business News - Thu, 06/18/2020 - 07:48
Oil prices ticked up on Thursday after U.S. oil product stocks shrank, providing bulls with ammunition ahead of a meeting between OPEC producers and their allies to discuss their future output strategy.
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KKR buys vacation parks firm Roompot in $1.1 billion deal

Reuters Business News - Thu, 06/18/2020 - 07:47
U.S. private equity firm KKR said on Thursday it had reached an agreement to buy Dutch vacation parks firm Roompot from French private equity firm PAI Partners.
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U.S. weekly jobless claims remain high as second wave of layoffs hits industries

Reuters Business News - Thu, 06/18/2020 - 07:38
A second wave of layoffs amid weak demand and fractured supply chains is keeping new U.S. applications for unemployment benefits elevated, supporting views that the economy faces a long and difficult recovery from the COVID-19 recession.
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Kroger expects to top 2020 outlook, beats estimates for profit, sales

Reuters Business News - Thu, 06/18/2020 - 07:27
Kroger Co said it expects to exceed its 2020 outlook for same-store sales and profit after beating Wall Street expectations for quarterly results on Thursday, as the U.S. supermarket chain benefited from consumers stocking up on essentials during the coronavirus lockdowns.
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World stocks drift lower as second wave virus fears mount

Reuters Business News - Thu, 06/18/2020 - 07:23
Global stocks drifted lower on Thursday as an increase in new coronavirus cases in some U.S. states and China crushed hopes of a swift world economic comeback from the pandemic.
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Wells Fargo investment adviser to sell feeder fund platform to iCapital

Reuters Business News - Thu, 06/18/2020 - 07:09
Wells Fargo & Co said on Thursday its investment adviser Wells Fargo Investment Institute will sell its feeder fund platform to fintech firm iCapital Network for an undisclosed amount.
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Dollar and yen supported by fears of new pandemic wave; Norway's crown shines

Reuters Business News - Thu, 06/18/2020 - 06:52
The U.S. dollar and Japanese yen held their positions on Thursday as concerns about a rise in new coronavirus cases underpinned demand for safe-haven currencies, while the Norwegian crown was a star performer.
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Mother's Day sales uptick doesn't cover coronavirus downturn, Washington D.C. florist says

Reuters Business News - Thu, 06/18/2020 - 06:32
Mother's Day during the coronavirus pandemic meant an uptick in sales for Lee's Flower and Card Shop in Washington, D.C.
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Exclusive: Who's in charge at Nissan? COO's allies push to give him shared CEO role – sources

Reuters Business News - Thu, 06/18/2020 - 06:27
Nissan's chief operating officer Ashwani Gupta helped engineer the troubled automaker's latest turnaround plan. Now his allies are pressing the board to promote him to co-CEO to drive the new strategy, said four people with direct knowledge.
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Futures drift lower ahead of jobless claims data

Reuters Business News - Thu, 06/18/2020 - 06:22
Futures tracking the S&P 500 and Dow indexes edged lower on Thursday as caution over an uptick in COVID-19 infections in parts of the United States and China weighed on the mood ahead of a weekly jobless claims report.
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Amazon to hire 3,000 people in South Africa for customer service roles

Reuters Business News - Thu, 06/18/2020 - 05:44
Amazon.com Inc is hiring 3,000 people in South Africa this year to provide support to customers in North America and Europe, it said on Thursday.
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Ford to offer hands-free driving in 2021 - six years after Tesla

Reuters Business News - Thu, 06/18/2020 - 05:40
Ford Motor Co said on Thursday that it will offer hands-free driving on its new Mustang Mach-E in fall 2021, six years after Tesla Inc and four years after General Motors Co introduced similar systems.
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Exclusive: EU in advanced talks with Johnson & Johnson on COVID-19 vaccine deal - sources

Reuters Business News - Thu, 06/18/2020 - 05:34
The European Commission is in advanced talks with pharmaceutical giant Johnson & Johnson to reserve or buy up-front doses of its COVID-19 vaccine under development, two officials familiar with the talks told Reuters.
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KKR to buy Dutch vacation park operator Roompot

Reuters Business News - Thu, 06/18/2020 - 05:27
U.S. private equity firm KKR said on Thursday it had reached an agreement to buy Dutch vacation parks firm Roompot for an undisclosed sum.
Categories: Reuters

Automakers rev up U.S. assembly lines, wary of outside risks to workers

Reuters Business News - Thu, 06/18/2020 - 05:03
Automakers are speeding up U.S. assembly lines to meet recovering demand, increasingly confident coronavirus safety protocols are working to prevent outbreaks in their plants but wary of the challenges workers face outside.
Categories: Reuters

JPMorgan gets China's nod for first fully foreign-owned futures business

Reuters Business News - Thu, 06/18/2020 - 04:50
China on Thursday approved JPMorgan's application to operate the first fully foreign-owned futures business, as the world's second-largest economy pushes ahead with opening its multi-trillion-dollar financial market.
Categories: Reuters

Sharp learning curve for bosses as WFH goes global

Reuters Business News - Thu, 06/18/2020 - 04:15
Two weeks into the coronavirus lockdown and Sergei Holmeckis, a boss at Deutsche Telekom's Czech operations in the city of Brno, was frustrated with staff video calls. His team didn't like turning on their cameras and the discussion was stilted.
Categories: Reuters

Oil prices tick up amid mixed signals from U.S. data

Reuters Business News - Thu, 06/18/2020 - 03:56
Oil prices ticked up on Thursday after U.S. oil product stocks shrank, providing bulls with ammunition ahead of a meeting between OPEC producers and their allies to discuss their future output strategy.
Categories: Reuters
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