Category: Business

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, following the Fed’s decision to…

(Reuters) – JPMorgan Chase & Co (JPM.N) plans to start returning more traders to its Manhattan trading floors starting next week, Bloomberg News reported on Monday. The bank plans to bring workers back to its Manhattan office in phases starting June 22, ramping up from 20% of sales and trading staff in the office to…

NEW YORK (Reuters) – Oil prices rose more than 2% on Monday as signs that fuel demand was recovering, while OPEC+ members were complying with a production cut deal, outweighed fears that new coronavirus infections could further slow the global economy. U.S. West Texas Intermediate crude rose 86 cents, or 2.4%, to settle at $37.12…

NEW YORK (Reuters) – A gauge of global equities rebounded on Monday after the Federal Reserve widened its program of buying corporate debt, while crude oil rebounded too on signs fuel demand is recovering and as investors grapple with how to assess the economic reopening. Stocks jumped after the Fed said its secondary market corporate…

(Reuters) – The United States on Monday confirmed a Reuters report that it will amend its prohibitions on U.S. companies doing business with China’s Huawei [HWT.UL] to allow them to work together on setting standards for next-generation 5G networks. The U.S. Commerce Department and other agencies signed off on the rule change, and it is…

(Reuters) – Electric carmaker Tesla Inc (TSLA.O) is negotiating possible incentives with a Texas county that could bring a new auto assembly plant to the area near Austin, the state capital, the Austin American-Statesman reported on Monday. Travis County Commissioners Court is scheduled to discuss terms of the deal on Tuesday, the paper reported, citing…

(Reuters) – The New York Stock Exchange will allow a limited number of market makers to return to its trading floor on Wednesday, a spokesperson said, nearly three months after closing it due to the coronavirus pandemic. More designated market makers, who oversee trading in the exchange’s 2,200 listed companies, will be permitted to come…

LONDON (Reuters) – British Airways is fighting for its survival and has acted lawfully, Willie Walsh, the chief executive of the airline’s owner IAG (ICAG.L) said on Monday, in a terse response to lawmakers who heavily criticised its treatment of employees. On Saturday the airline was labelled a “national disgrace” by parliament’s Transport Select Committee,…

CHICAGO (Reuters) – United Airlines (UAL.O) said on Monday it is pledging its MileagePlus frequent flyer program for a new $5 billion loan aimed at further buffering its liquidity, even as its cash burn rate slows thanks to a steady improvement in demand. So far, United continues to book more new tickets than cancellations for…

(Reuters) – Six former eBay Inc (EBAY.O) employees have been criminally charged with cyberstalking a Massachusetts couple who published an online newsletter viewed as critical of the e-commerce company, federal prosecutors in Boston said on Monday. U.S. Attorney Andrew Lelling said the defendants engaged in a “determined, systematic effort” to emotionally “terrorize” the couple with…