Asian shares swung lower on Thursday while bonds rallied after a downbeat economic outlook from the U.S. Federal Reserve stoked speculation it would have to add to already historic levels of stimulus to underpin a recovery.
Britain's Heathrow Airport, which before the coronavirus pandemic was the busiest in Europe, said it had started a voluntary redundancy scheme after passenger numbers fell to an all-time low and it could not rule out further job losses.
China's auto sales in May rose 14.5% from the same month a year earlier, industry data showed on Thursday, the second consecutive month of increase as the world's biggest vehicle market recovers from lows hit during coronavirus lockdowns.
The market for COVID-19 antibody tests is red-hot. It has ballooned in a matter of months as hundreds of products flood the world for people who want to find out whether they've already had the virus.
Asian shares retreated on Thursday as a gloomy outlook from the U.S. Federal Reserve challenged market optimism on the global economy, while bonds rallied on speculation that yet more stimulus would be needed to ensure recovery.
Finnish telecoms equipment maker Nokia named a new finance chief on Thursday, completing an overhaul of its top executive team as it battles rivals Ericsson and Huawei [HWT.UL] for work on lucrative 5G networks.
E-commerce companies Amazon Inc and eBay Inc have been instructed by the U.S. Environmental Protection Agency (EPA) to stop selling unproven or unsafe disinfectants, including products falsely marketed as killing COVID-19, on their platforms, Bloomberg reported https://bloom.bg/3fcuLg5 on Thursday.
Tesla Inc has received government approval to build Model 3 vehicles in China equipped with lithium iron phosphate (LFP) batteries, a document on Ministry of Industry and Information Technology website showed.
European food-ordering firm Just Eat Takeaway.com NV's proposed $7.3 billion all-share acquisition of U.S. peer Grubhub Inc was met with investor scepticism, sending its shares down 2.5% to 83.26 euros at the start of trade on Thursday.
British Airways will sell at least 10 works of art from its extensive collection, a source said, to try to raise millions of pounds to boost its cash reserves as it struggles through the coronavirus pandemic.
Oil prices fell on Thursday, hit by another record build-up in U.S. crude inventories and the U.S. Federal Reserve's projections that the world's biggest economy would shrink 6.5% this year.
World shares took their biggest tumble in five weeks on Thursday as a sobering outlook from the U.S. Federal Reserve challenged market optimism on the global economy, while bonds rallied on bets yet more stimulus would be needed to ensure recovery.
Unilever proposed combining its Dutch and British legal entities in a single holding company based in Britain on Thursday, after shareholders sank an earlier plan to move the global consumer goods group's headquarters to the Netherlands.
Unilever's decision to base the company solely in Britain and not in the Netherlands represented a vote of confidence in the country, said British business minister Alok Sharma.
China and the United States should resume timely communication on trade and other issues, a former senior Chinese official said on Thursday, who stressed that the world's two largest economies are too intertwined to be decoupled.