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China buys U.S. soybeans after halt to U.S. purchases ordered: sources

Reuters Business News - Tue, 06/02/2020 - 09:11
State-owned Chinese firms bought at least three cargoes of U.S. soybeans on Monday, even as sources in China said the government had told them to halt purchases after Washington said it would eliminate special treatment for Hong Kong to punish Beijing.
Categories: Reuters

Exclusive: U.S. small business program handed out virus aid to many borrowers twice

Reuters Business News - Tue, 06/02/2020 - 09:06
A technical snafu in a U.S. government system caused many small businesses to receive loans twice or more under a federal aid program to help businesses hurt by the COVID-19 pandemic, nearly a dozen people with knowledge of the matter said.
Categories: Reuters

Wall St. set for higher open on prospects of economic recovery

Reuters Business News - Tue, 06/02/2020 - 08:41
Wall Street's main indexes were set to hit fresh three-month highs on Tuesday as optimism over reopening businesses overshadowed fears of more disruptions from protests in the country over the death of a black man while in police custody.
Categories: Reuters

Amid pandemic, crypto crime surges in first 5 months: CipherTrace

Reuters Business News - Tue, 06/02/2020 - 08:19
Crypto intelligence company CipherTrace, which started tracking cryptocurrency crime a few years ago, said it has started to see coronavirus-related frauds that require some form of digital currency payment.
Categories: Reuters

Global shares cruise to three-month highs, dollar shows the strain

Reuters Business News - Tue, 06/02/2020 - 08:11
World stocks climbed to three-month highs on Tuesday as the global coronavirus recovery effort won out over U.S.-China tensions and the worst civil unrest in the United States in decades.
Categories: Reuters

How grab-and-go food chains are adjusting to coronavirus reality

Reuters Business News - Tue, 06/02/2020 - 07:37
Restaurants devoted mainly to quick bites and drinks are reconfiguring their businesses to limit traffic in tight quarters and maintain coronavirus social distancing.
Categories: Reuters

Sell, stow or dump? Retailers wrestle with mountain of unsold stock

Reuters Business News - Tue, 06/02/2020 - 07:00
Forget fast or slow fashion, now it's ground to a halt.
Categories: Reuters

Stock futures hit three-month high on prospects of economic recovery

Reuters Business News - Tue, 06/02/2020 - 06:51
U.S. stock index futures hit a three-month high on Tuesday as hopes of a rebound from a coronavirus-led economic slump prevailed over fears of disruption from widespread protests over race in the country.
Categories: Reuters

Exclusive: Winning bidder for Grindr has ties to Chinese owner

Reuters Business News - Tue, 06/02/2020 - 06:29
An investor group that got U.S. approval to buy Grindr Inc has financial and personal links to the dating app's current owner, China's Beijing Kunlun Tech Co Ltd , Reuters has found, in a possible departure from Washington’s national security policy on deals.
Categories: Reuters

George Floyd protests recall earlier tensions, promises of economic change

Reuters Business News - Tue, 06/02/2020 - 06:22
In November 2015, the shooting death of Jamar Clark by Minneapolis police touched off a debate on race and economic inequality that challenged the city's progressive image and led local corporate leaders to back efforts at better sharing the spoils of a booming Midwestern state.
Categories: Reuters

EU to rule on AMS's 4.6 billion euro bid for Osram by July 6

Reuters Business News - Tue, 06/02/2020 - 06:08
EU antitrust regulators will decide by July 6 whether to clear Austrian sensor maker AMS's 4.6 billion euro ($5.14 billion) bid for German lighting group Osram after a preliminary review, a European Commission filing showed on Monday.
Categories: Reuters

Qatar Petroleum's $19 billion LNG vessel order boon for South Korean shipbuilders

Reuters Business News - Tue, 06/02/2020 - 05:18
South Korea's ailing shipbuilders have been thrown a lifeline in an increasingly tough market with a $19 billion order from Qatar Petroleum (QP) for liquefied natural gas (LNG) ships, analysts said on Tuesday.
Categories: Reuters

China auto sales growth seen for second straight month, boosting recovery hopes

Reuters Business News - Tue, 06/02/2020 - 05:15
China's vehicle sales are estimated to rise 11.7% on year in May, its top auto industry body said on Tuesday, cementing hopes of a recovery in the world's biggest auto market with the first back to back monthly sales increase in about two years.
Categories: Reuters

Shares cruise to three-month highs, dollar shows the strain

Reuters Business News - Tue, 06/02/2020 - 05:07
World stocks climbed towards three-month highs on Tuesday as the global coronavirus recovery effort won out over U.S.-China tensions and the worst civil unrest in the United States in decades.
Categories: Reuters

Oil prices rise before OPEC+ meeting about extending output cuts

Reuters Business News - Tue, 06/02/2020 - 05:04
Oil prices rose on Tuesday on expectations that major producers would agree to extend output cuts that have shored up prices, during a video conference likely to be held this week.
Categories: Reuters

Embraer seeks business partners but not a repeat of the Boeing deal

Reuters Business News - Tue, 06/02/2020 - 05:02
The world's No. 3 planemaker Embraer is open to new business partners after Boeing Co ditched a $4.2 billion deal that was years in the making, the Brazilian company's chief executive told Reuters.
Categories: Reuters

Australia's Woolworths to reward over 100,000 staff with shares for virus efforts

Reuters Business News - Tue, 06/02/2020 - 04:43
Australia's biggest supermarket chain Woolworths Group said on Tuesday it will reward more than 100,000 of its staff with free company shares for their efforts during a period of upheaval amid bushfires and the coronavirus buying frenzy.
Categories: Reuters

Qatar Petroleum's $19 bln LNG vessel order boon for S.Korean shipbuilders

Reuters Business News - Tue, 06/02/2020 - 03:53
South Korea's ailing shipbuilders have been thrown a lifeline in an increasingly tough market with a $19 billion order from Qatar Petroleum (QP) for liquefied natural gas (LNG) ships, analysts said on Tuesday.
Categories: Reuters

Oil prices rise ahead of OPEC+ meeting on extended output cuts

Reuters Business News - Tue, 06/02/2020 - 02:38
Oil prices rose on Tuesday, with traders waiting to see whether major producers agree to extend their huge output cuts to shore up prices at a virtual meeting expected later this week.
Categories: Reuters

Stocks make cautious gains as U.S.-China frictions slow recovery rally

Reuters Business News - Tue, 06/02/2020 - 02:37
Asian stocks rose on Tuesday as investors' focus on the prospects of a global coronavirus recovery won out over familiar worries about U.S.-China relations and the depth of economic damage.
Categories: Reuters
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