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Wall Street's main indexes opened higher on Monday, building on last week's rally after a surprise rebound in jobs bolstered views that the U.S. economy has weathered the worst of the economic fallout from the COVID-19 pandemic.

The United Kingdom's coronavirus quarantine will be struck down by the courts or dropped within weeks as some of Europe's biggest airlines prepare to file a legal challenge by the end of Tuesday, Ryanair boss Michael O'Leary told Reuters.

BP will cut about 15% of its workforce in response to the coronavirus crisis and as part of Chief Executive Bernard Looney's plan to shift the oil and gas major to renewable energy, it said on Monday.

The S&P 500 and the Dow Jones indexes were set to rise on Monday, building on last week's sharp gains after a surprise rebound in jobs strengthened views that the U.S. economy has weathered the worst of the economic fallout from the COVID-19 pandemic.

Austria has agreed to a smaller-than-expected bailout package for Lufthansa unit Austrian Airlines of 450 million euros ($508 million) in loans and grants, people familiar with the matter said on Monday.

Austrian Chancellor Sebastian Kurz, Vice Chancellor Werner Kogler and Finance Minister Gernot Bluemel will hold a news conference on Lufthansa unit Austrian Airlines at 5 p.m. (1500 GMT), the government said in a statement on Monday.

Shares of U.S. drugmaker Gilead Sciences Inc rose over 5% in premarket trading on Monday after a report it had been approached by Britain's AstraZeneca for a possible merger to form one of the world's largest drug companies.

Ryanair believes Britain's courts will either strike down a 14-day quarantine for international travellers this week or the government will drop the measure before the end of June, boss Michael O'Leary told Reuters on Monday.

Austria has agreed to a smaller-than-expected bailout package for Lufthansa unit Austrian Airlines of 450 million euros ($508 million) in loans and grants, people familiar with the matter said on Monday.

BP plans to cut about 15% of its workforce in response to the coronavirus crisis and as part of Chief Executive Bernard Looney's plan to shift the oil and gas major to renewable energy, company sources told Reuters on Monday.

EU antitrust enforcers, boosted by recent court victories, on Monday reinforced their case against Israeli drugmaker Teva over its deal with rival Cephalon to delay selling a generic version of its sleep disorder drug modafinil.

Shares in Britain's AstraZeneca fell 2.1% in early trades on Monday after a report it had approached U.S. rival Gilead Sciences about a possible merger to form one the world's largest drug companies.

Samsung Group's leader, Jay Y. Lee, appeared before a South Korean court on Monday, awaiting a ruling on whether new allegations including accounting fraud and stock manipulation will send him back to jail after more than two years of freedom.

U.S. stock index futures rose on Monday as a surprisingly upbeat jobs report last week added to optimism that the world's biggest economy has weathered the worst fallout of the coronavirus outbreak.

California-based power provider PG&E Corp said on Monday it plans to raise $5.75 billion from public offerings as it tries to emerge from Chapter 11 bankruptcy by the end of this month.

Japan's economy braced for its worst postwar slump even as first-quarter GDP contracted less than initially thought, as the coronavirus crisis slams the brakes on global growth and raises pressure on Tokyo to cushion the blow to business and consumers.

Britain's quarantine plan was rushed into existence, is out of proportion and should be challenged in the courts, according to the head of easyJet which has joined rivals in threatening legal proceedings.

World stocks inched higher on Monday, adding to a 42% surge from their March lows, as a surprise jump in last week's U.S. employment data fuelled hopes of a quicker global economic recovery from the coronavirus pandemic.

Power provider PG&E Corp said on Monday it plans to raise $5.75 billion from public offerings to partially fund its emergence from Chapter 11 bankruptcy.

The Federal Reserve's most ambitious and complicated crisis relief program is set to launch in coming days but it is far from certain that the small and mid-sized businesses the $600 billion "Main Street Lending Facility" is meant to help will come clamoring for loans.