Volkswagen AG (VW) said on Friday it has agreed to invest 2.1 billion euros ($2.33 billion) in two separate Chinese electric vehicle players, upping its bet on the world's biggest auto market as international rivals seek to muscle in.
Oil prices slid for a second consecutive session on Thursday as U.S. industry data showed a steep and surprising build-up in crude stockpiles, dampening hopes of a smooth demand recovery as the world begins to ease its way out of coronavirus lockdowns.
U.S. stocks will end this year around current levels as the coronavirus pandemic cripples the economy and eats into earnings, according to strategists polled by Reuters.
Job cuts by U.S. state and local governments whose budgets have been crushed fighting the COVID-19 pandemic and more second-wave layoffs in the private sector likely contributed last week to a 10th straight week of more than 2 million Americans seeking unemployment benefits.
U.S. President Donald Trump is expected to order a review of a law that has long protected Twitter , Facebook and Alphabet's Google from being responsible for the material posted by their users, according to a draft executive order and a source familiar with the situation.
Impulse purchases - gum, mints and snack bars tossed into a shopping basket as one snakes through the supermarket checkout line - are falling as more people get groceries delivered or pick them up curbside.
British low cost airline easyJet said it planned to cut up to 30% of its staff, or 4,500 jobs, and shrink its fleet, to fit the smaller market it expects to emerge from the collapse in air travel due to COVID-19.
Asian shares erased gains and the yuan languished on Thursday on growing worries China's planned security law for Hong Kong would spark a broader diplomatic confrontation with the United States.
French Finance Minister Bruno Le Maire on Thursday said that the government had yet to sign off on a planned 5 billion euro ($5.5 billion) loan for Renault , and that the carmaker's site closures and job cuts could only ever be a last resort.
The coronavirus lockdown has accelerated a digitalisation drive in a global shipping and logistics sector that still routinely delivers many documents by bike messenger in some countries, according to industry leaders.
Safran shares rose on Thursday after Boeing said it would restart production of its 737 MAX jet and announced further cost-cutting measures.
British low cost airline easyJet said it planned to cut up to 30% of its staff, or 4,500 jobs, and shrink its fleet, to fit the smaller market that will emerge from the coronavirus pandemic.
Britain's easyJet is not planning on raising new equity currently but its chief executive did not rule it out in future as the low-cost airline seeks to survive the coronavirus pandemic which has wiped out air travel.
EasyJet will not fly to Italy if Rome prolongs social distancing rules on planes beyond June 15, the budget airline's chief executive said in a newspaper interview.
Oil prices plunged on Thursday after U.S. industry data showed a surprise steep build in crude oil inventories, dampening hopes of a smooth recovery in demand as some countries begin to ease their way out of coronavirus lockdowns.