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Reuters - Business

Air maintenance firms, manufacturers plan for $60 billion in lost sales

Reuters
(Reuters) – Maintenance firms and spare parts producers who keep airplanes running are bracing for a decline of up to 75% in sales this year – and more pain to follow – as airlines park or retire thousands of aircraft due to the coronavirus pandemic. FILE PHOTO: People work near......
Reuters - Business

Australian regulator says Google’s $2.1 billion Fitbit deal could harm competition

Reuters
SYDNEY/BENGALURU (Reuters) – Australia’s antitrust regulator warned Google’s planned $2.1 billion acquisition of fitness tracker maker Fitbit (FIT.N) may give it too much of people’s data, potentially hurting competition in health and online advertising markets. FILE PHOTO: Fitbit Blaze watch is seen in front of a displayed Alphabet logo in......
Reuters - Business

Glass Lewis joins ISS in opposing Tesla chairwoman’s re-election to board

Reuters
(Reuters) – Glass Lewis said on Thursday that it urged Tesla Inc (TSLA.O) investors to vote against re-electing Chairwoman Robyn Denholm to the company’s board, making it the second proxy advisory firm to oppose her appointment. FILE PHOTO: Tesla logo is pictured on a car during electric car E-Rallye Baltica......
Reuters - Business

Glass Lewis opposes Tesla chairwoman’s re-election to Board: Bloomberg News

Reuters
FILE PHOTO: Tesla logo is pictured on a car during electric car E-Rallye Baltica 2019 in Bauska, Latvia July 23, 2019. REUTERS/Ints Kalnins (Reuters) – Proxy-adviser Glass Lewis has urged Tesla Inc (TSLA.O) investors to vote against re-electing chairwoman Robyn Denholm to the company’s board due to an arrangement with......
Reuters - Business

S&P closes lower as new COVID-19 cases surge

Reuters
NEW YORK (Reuters) – The S&P 500 closed lower on Wednesday as news of spiking pandemic data and the prospect of a new round of economic lockdowns dampened investor optimism over signs of economic recovery. The S&P 500 and the Dow reversed earlier gains to snap a three-day winning streak.......
Reuters - Business

Wall Street advances on prospect of economic rebound

Reuters
NEW YORK (Reuters) – Wall Street gained ground on Wednesday as signs of economic recovery helped investors look past spiking pandemic data and the potential of a new round of economic lockdowns. FILE PHOTO: Traders exit the 11 Wall St. door of the New York Stock Exchange (NYSE) in New......
Reuters - Business

PepsiCo to drop Aunt Jemima name, criticized for racist history; Uncle Ben’s under review

Reuters
(Reuters) – PepsiCo Inc (PEP.O) will change the name and brand image of its Aunt Jemima pancake mix and syrup, it said on Wednesday, dropping a mascot that has been criticized for a racist history. Bottles of Aunt Jemima branded syrup stand on a store shelf inside of a shop......
Reuters - Business

Wall Street opens higher on hopes of swift economic recovery

Reuters
FILE PHOTO: Traders exit the 11 Wall St. door of the New York Stock Exchange (NYSE) in New York City, New York, U.S., June 11, 2020. REUTERS/Brendan McDermid (Reuters) – Wall Street’s main indexes opened higher on Wednesday, rising for a fourth straight session, as signs of more stimulus bolstered......
Reuters - Business

Trump team prepares $1 trillion infrastructure plan to spur economy

Reuters
(Reuters) – The Trump administration is preparing an up to $1 trillion infrastructure package focused on transportation projects as part of its push to spur the world’s largest economy back to life, a source familiar with the situation said on Tuesday....
Reuters - Business

Tesla signs three-year pricing deal with battery cell maker Panasonic

Reuters
FILE PHOTO: The company logo is pictured on a Tesla Model X electric car in Berlin, Germany, November 13, 2019. REUTERS/Fabrizio Bensch (Reuters) – Tesla Inc (TSLA.O) has signed a three-year pricing deal with Japan’s Panasonic Corp (6752.T) relating to the manufacture and supply of lithium-ion battery cells at the......
Reuters - Business

Southwest extends limited seating on flights through September

Reuters
FILE PHOTO: Social distancing sign is displayed at a check-in area for Southwest Airlines Co. at Los Angeles International Airport (LAX) on an unusually empty Memorial Day weekend during the outbreak of the coronavirus disease (COVID-19) in Los Angeles, California, U.S., May 23, 2020. REUTERS/Patrick T. Fallon (Reuters) – Southwest......
Reuters - Business

Wall Street closes higher on signs of economic recovery

Reuters
NEW YORK (Reuters) – Wall Street advanced on Tuesday as the prospect of additional stimulus and a record jump in retail sales suggested the U.S. economy could bounce back sooner than expected, five months into its pandemic-inflicted recession. A trader adjusts his mask as he works on the floor of......
Reuters - Business

Hilton to cut 2,100 corporate jobs globally

Reuters
FILE PHOTO: The logo of Hilton hotel is seen in Batumi, Georgia, May 2, 2016. REUTERS/David Mdzinarishvili/File Photo (Reuters) – Hotel chain Hilton Worldwide Holdings Inc (HLT.N) said on Tuesday it would cut 2,100 corporate roles globally in response to the coronavirus outbreak. The company also said it is extending......
Reuters - Business

Futures jump on stimulus hopes ahead of retail sales report

Reuters
(Reuters) – U.S. stock index futures jumped on Tuesday on hopes that aggressive fiscal and monetary stimulus would kick start an economy crushed by the COVID-19 pandemic, with expectations of a record rebound in May retail sales also driving sentiment. A trader adjusts his mask as he works on the......
Reuters - Business

NYSE to reopen trading floor to some market makers on Wednesday

Reuters
FILE PHOTO: The New York Stock Exchange (NYSE) is seen in the financial district of lower Manhattan during the outbreak of the coronavirus disease (COVID-19) in New York City, U.S., April 26, 2020. REUTERS/Jeenah Moon (Reuters) – The New York Stock Exchange will allow a limited number of market makers......
Reuters - Business

Wall Street closes higher as Fed soothes recovery worries

Reuters
NEW YORK (Reuters) – Wall Street closed higher on Monday following an announcement by the U.S. Federal Reserve regarding its corporate bond purchasing program that boosted investor confidence, which had been wavering amid a spike in new COVID-19 cases. All three major U.S. stock indexes reversed losses in afternoon trading,......
Reuters - Business

GE aviation head to retire, Embraer executive to take helm

Reuters
FILE PHOTO: The logo of U.S. conglomerate General Electric is seen on the company building in Belfort, France, October 19, 2019. REUTERS/Vincent Kessler (Reuters) – General Electric Co (GE.N) said on Monday David Joyce, the chief executive of the company’s aviation unit, would retire after 40 years with the industrial......
Reuters - Business

Wall Street set to drop at open after spike in new virus cases

Reuters
(Reuters) – Wall Street was set to drop sharply at the open on Monday as a recent jump in coronavirus cases in China and parts of the United States dashed investor hopes of a quick economic rebound that had powered the Nasdaq to record levels last week. FILE PHOTO: Traders......
Reuters - Business

Unilever to invest 1 billion euros in climate change fund over 10 years

Reuters
(Reuters) – Unilever Plc (ULVR.L) said on Monday it will invest 1 billion euros in a fund to invest in climate change projects and reduce to net zero greenhouse gas emissions from all its products by 2039, 11 years ahead of the Paris Agreement deadline. FILE PHOTO: Unilever headquarters in......
Reuters - Business

Amazon’s business practices examined by two U.S. states

Reuters
(Reuters) – State investigators in both California and Washington are examining Amazon’s business practices, two newspapers reported, citing people familiar with the matter. FILE PHOTO: The logo of Amazon is seen in Lauwin-Planque, northern France, April 22, 2020. REUTERS/Pascal Rossignol The inquiries focus at least in part on how Amazon......

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