Chinese e-commerce giant Alibaba Group Holding Ltd has demoted Jiang Fan, one of its most senior executives, after an internal investigation into allegations of improper behaviour, according to a person familiar with the matter.
Stock markets rallied on Monday as investors cheered news more countries were easing lockdowns and the Bank of Japan expanded stimulus to cushion the impact of the coronavirus, though the oil price took another tumble with storage running out.
U.S. banks were girding on Monday for another chaotic dash to grab $310 billion in fresh small business aid due to be released by the government on Monday, after it changed some of the rules of the first-come-first-served scheme at the 11th hour.
The Small Business Administration (SBA) on Monday will release $310 billion in funds for the second round of its program that aims to help small businesses hurt by the novel coronavirus disruption to cover their payroll costs.
The German government should support Lufthansa as it tackles the coronavirus crisis but the flagship carrier should not be nationalised, Bavarian State Premier Markus Soeder said on Monday.
As Americans delay elective surgeries and avoid doctors and hospitals during the coronavirus pandemic, healthcare spending declines have more than offset the added costs of COVID-19 care, insurance executives and experts say, boosting U.S. health insurer profits.
Britain's easyJet said it will hold a general meeting of investors on May 22 to consider resolutions put forward by its biggest shareholder and founder Stelios Haji-Ioannou, who opposes the airline's strategy of buying more planes.
U.S. stock index futures rose on Monday as more states looked set to lift coronavirus-induced curbs, with investors also turning to quarterly earnings reports from marquee companies including Apple and Microsoft later this week.
Adidas warned of an even deeper hit to second-quarter sales and profits from coronavirus lockdowns after the German sportswear firm reported worse-than-expected first-quarter results and said it had not yet seen a full rebound in China.
Brazil's Embraer SA has already begun an arbitration process against Boeing Co , its CEO said on Monday, after the U.S. planemaker canceled a $4.2 billion deal overnight.
U.S. stock index futures rose on Monday as more states looked set to lift coronavirus-induced curbs, and investors awaited earnings reports from marquee companies including Apple and Microsoft due this week.
Oil prices slumped again on Monday on concerns over scarce storage capacity, especially in the United States, and global economic doldrums from the coronavirus pandemic.
General Motors Co said on Monday the automaker has suspended its quarterly cash dividend on its common stock and its share buybacks to save cash in the face of the coronavirus crisis that has severely hurt global automobile sales.
Data from FactSquared, a Washington D.C.-based data analytics firm, shows the full extent that public companies successfully navigated emergency funding.
EasyJet's battle with its founder and biggest shareholder Stelios Haji-Ioannou will come to a head on May 22, when the results of an investor vote on the airline's strategy to stick with a plan to buy more planes will be made public.