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World equities edge higher despite U.S.-China tensions

Reuters Business News - Mon, 06/01/2020 - 16:38
World stock markets hovered near three-month highs and safe-haven government bonds inched lower as risk appetite grew on signs that the global economic downturn has bottomed, despite worries over violent protests in the United States and unease over Washington's standoff with Beijing.
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Oil steady; U.S.-China tensions weigh, possible output cuts support

Reuters Business News - Mon, 06/01/2020 - 15:37
Oil futures steadied on Monday as rising U.S.-China tensions weighed on sentiment, but prices drew support from reports that OPEC and Russia were close to a deal extending output cuts.
Categories: Reuters

Volkswagen says ready to restart Mexico operations on June 15

Reuters Business News - Mon, 06/01/2020 - 15:23
The Mexican unit of Germany's Volkswagen AG said on Monday the automaker was ready to restart operations in the states of Puebla and Guanajuato on June 15 after activity was idled in late March due to the coronavirus pandemic.
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Nestle to appeal ban on 'Incredible Burger' branding in Europe

Reuters Business News - Mon, 06/01/2020 - 15:11
Nestle said on Monday it would appeal a Dutch court's ruling that prohibits the Swiss food giant from selling its plant-based burgers in Europe under the "Incredible Burger" name after a challenge from U.S.-based Impossible Foods.
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U.S. appeals court: Volkswagen may face 'enormous' diesel liability

Reuters Business News - Mon, 06/01/2020 - 14:56
A U.S. appeals court ruled Monday Volkswagen AG may face "enormous" additional liability in the "Dieselgate" scandal finding that two counties can enforce regulations against the German automaker for tampering with post-sale vehicles.
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Marriott opens all hotels in China, sees steady U.S. recovery: CEO

Reuters Business News - Mon, 06/01/2020 - 14:33
Marriott International has reopened all its hotels in China and is seeing a steady recovery in the United States, its biggest market, Chief Executive Officer Arne Sorenson said on Monday.
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U.S. Supreme Court rebuffs investors' bid to block Madoff trustee lawsuits

Reuters Business News - Mon, 06/01/2020 - 14:26
The U.S. Supreme Court on Monday refused to hear a bid by major banks and companies including Koch Industries Inc to prevent a trustee chasing money for victims of imprisoned Ponzi scheme swindler Bernard Madoff from recouping funds that were transferred overseas.
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Sign here first: U.S. salons, gyms, offices require coronavirus waivers

Reuters Business News - Mon, 06/01/2020 - 14:26
As U.S. businesses reopen after weeks of pandemic lockdowns, many have been posting coronavirus disclaimers or requiring employees and patrons to sign waivers before entering.
Categories: Reuters

Argentina flag carrier Aerolineas seeks to suspend workers' contracts

Reuters Business News - Mon, 06/01/2020 - 14:25
Aerolineas Argentinas will begin negotiations with unions to suspend the contracts of thousands of employees until August after the flag carrier's income plunged about 97% due to the coronavirus outbreak, it said on Monday.
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U.S. stocks gain as signs of recovery offset protests, economic worries

Reuters Business News - Mon, 06/01/2020 - 14:23
Wall Street stocks posted modest gains on Monday as signs suggesting the U.S. economy may be on the road to recovery helped soothe jitters over increasingly violent social unrest and rising U.S.-China tensions.
Categories: Reuters

U.S. manufacturing activity crawls off 11-year low

Reuters Business News - Mon, 06/01/2020 - 14:00
U.S. manufacturing activity eased off an 11-year low in May, the strongest sign yet that the worst of the economic downturn was behind as businesses reopen, though the recovery from the COVID-19 crisis could take years because of high unemployment.
Categories: Reuters

China tells state firms to halt purchases of major U.S. farm products: sources

Reuters Business News - Mon, 06/01/2020 - 13:52
China has told state-owned firms to halt purchases of soybeans and pork from the United States, two people familiar with the matter said, after Washington said it would eliminate special treatment for Hong Kong to punish Beijing.
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Nissan sees cost of quitting Barcelona at up to $1.7 billion, source says

Reuters Business News - Mon, 06/01/2020 - 13:48
Nissan Motor Co has estimated the closure of its plants in Barcelona could cost up to around 1.5 billion euros ($1.7 billion), a union source told Reuters on Monday.
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Wall Street gains as recovery hopes overshadow U.S. protests

Reuters Business News - Mon, 06/01/2020 - 13:36
Wall Street's major indexes rose on Monday as investors chose to look past violent protests across the country over racial inequality and focused more on economic data that bolstered views of a quick post-pandemic recovery.
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Coty names Chairman Harf as CEO to oversee turnaround

Reuters Business News - Mon, 06/01/2020 - 13:27
Coty Inc said on Monday Peter Harf, chairman of both the company and its top investor JAB Holdings, would return as chief executive officer after nearly two decades to help the cosmetics maker revive its business amid the coronavirus crisis.
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Eli Lilly starts human study of potential COVID-19 antibody treatment

Reuters Business News - Mon, 06/01/2020 - 13:15
Eli Lilly and Co said on Monday it had started an early-stage trial to test its potential treatment for COVID-19, in the world's first study of an antibody treatment against the disease.
Categories: Reuters

'Lemon' or not, Trump stuck with Phase 1 China trade deal for now

Reuters Business News - Mon, 06/01/2020 - 12:53
U.S. President Donald Trump has little choice but to stick with his Phase 1 China trade deal for now despite his anger at Beijing over the coronavirus pandemic, new Hong Kong security rules, and dwindling hopes China can meet U.S. goods purchase targets, people familiar with his administration's deliberations say.
Categories: Reuters

Major Aston Martin shareholder cuts stake in British carmaker

Reuters Business News - Mon, 06/01/2020 - 12:43
A top Aston Martin shareholder cut its stake in the British carmaker by nearly 5%, a regulatory filing showed on Monday.
Categories: Reuters

U.S. manufacturing activity off 11-year low; construction spending falls

Reuters Business News - Mon, 06/01/2020 - 12:23
U.S. manufacturing activity eased off an 11-year low in May, the strongest sign yet that the worst of the economic downturn was behind as businesses reopen, though the recovery from the COVID-19 crisis could take years because of high unemployment.
Categories: Reuters

Wall St. flat as recovery hopes offset U.S. protests, China tensions

Reuters Business News - Mon, 06/01/2020 - 11:55
U.S. stocks struggled for direction on Monday as investors weighed prospects of a post-pandemic economic recovery against protests across the country over race and an ongoing standoff between Washington and Beijing.
Categories: Reuters
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