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- Los Angeles union, joined by 'Pandemic Pig,' demands meatpacking plant closure
Thu, 28 May 2020 21:23:19 -0400
The union representing workers at a meatpacking plant near Los Angeles where at least 153 employees have come down with COVID-19 called on Thursday for the plant's immediate closure, saying measures to control the outbreak were not working.
- U.S.-China tension to push Asian shares lower in choppy trade
Thu, 28 May 2020 21:20:32 -0400
Asian shares were set to dip in choppy trade on Friday as worries about worsening U.S.-China ties offset the fillip from hopes massive government stimulus can jump-start the world economy.
- Oil prices fall as U.S. fuel demand remains weak
Thu, 28 May 2020 21:17:27 -0400
Oil prices edged lower on Friday after U.S. inventory data showed lacklustre fuel demand in the world's largest oil consumer while worsening U.S.-China tensions weighed on global financial markets.
- Exclusive: Argentina says new debt revamp proposal in right direction, still falls short
Thu, 28 May 2020 20:49:02 -0400
Argentina's economy minister said on Friday that a newly received debt restructuring proposal from two creditor groups was a step in the right direction, but still fell short of what the country needed to strike a deal.
- Tyson Foods will shut U.S. pork plant as more workers catch COVID-19
Thu, 28 May 2020 20:35:31 -0400
Tyson Foods Inc said on Thursday it will temporarily close an Iowa pork plant due to the coronavirus pandemic, a month after U.S. President Donald Trump ordered slaughterhouses to stay open to protect the country's food supply.
- U.S. judge orders 15 banks to face big investors' currency rigging lawsuit
Thu, 28 May 2020 20:33:26 -0400
A U.S. judge on Thursday said institutional investors, including BlackRock Inc and Allianz SE's Pacific Investment Management Co, can pursue much of their lawsuit accusing 15 major banks of rigging prices in the $6.6 trillion-a-day foreign exchange market.
- Trump move could scrap or weaken law that protects social media companies
Thu, 28 May 2020 20:29:54 -0400
President Donald Trump said he will introduce legislation that may scrap or weaken a law that has protected internet companies, including Twitter and Facebook, in an extraordinary attempt to regulate social media platforms where he has been criticized.
- California regulator approves PG&E's Chapter 11 reorganization plan
Thu, 28 May 2020 20:09:27 -0400
PG&E Corp said on Thursday its Chapter 11 reorganization plan has been confirmed by a California power regulator, bringing the power provider one step closer to emerge from bankruptcy and participate in a state-backed wildfire fund.
- Sainsbury's new boss Roberts faces unexpected in-tray
Thu, 28 May 2020 19:13:55 -0400
When Sainsbury's new boss Simon Roberts hosts a virtual focus group with supermarket shoppers on his first day in charge on Monday, the conversation will be radically different from the one he might have imagined when he got the job.
- Costco profit falls on coronavirus-related costs
Thu, 28 May 2020 19:12:52 -0400
Costco Wholesale Corp reported a 7.5% fall in quarterly profit on Thursday, as it spent more on wages and sanitizing its warehouse clubs and halted sales of some high-margin products due to the COVID-19 pandemic.
- Wall Street ends down in late selloff; Facebook and China weigh
Thu, 28 May 2020 19:11:17 -0400
Wall Street ended lower on Thursday following a late-session reversal, with Facebook weighing on the market after President Donald Trump said he would sign an executive order related to social media companies and would hold a news conference on China on Friday.
- Salesforce cuts annual estimates on COVID-19 hit
Thu, 28 May 2020 18:38:47 -0400
Salesforce.com Inc cut its annual revenue and profit forecasts on Thursday, as the cloud-based business software maker allowed clients to defer payments and provided its sales team one-time commissions amid the COVID-19 pandemic.
- GM to increase North America vehicle production
Thu, 28 May 2020 18:33:35 -0400
General Motors said on Thursday it would start increasing vehicle production in North America from next week to meet rising demand.
- Nordstrom sales plunge nearly 40% on pandemic-led store closures
Thu, 28 May 2020 18:17:43 -0400
Upscale department store chain Nordstrom Inc on Thursday reported a nearly 40% slump in quarterly sales, as lockdowns to contain the COVID-19 pandemic shut stores.
- UPS adds 'peak' surcharge amid coronavirus fueled delivery spike
Thu, 28 May 2020 17:55:02 -0400
United Parcel Service Inc on May 31 will slap surcharges on U.S. e-commerce companies that have flooded its delivery network with shipments of everything from packaged food to patio furniture since the coronavirus took hold in March.
- Renault poised to announce 15,000 layoffs worldwide: union
Thu, 28 May 2020 17:41:09 -0400
French carmaker Renault is poised to announce 15,000 layoffs worldwide on Friday as it unveils a plan to boost its profitability and cope with faltering sales, a representative for the CFDT union said after meeting with the company.
- Stocks, euro rise on recovery hopes; U.S.-China rift lifts gold
Thu, 28 May 2020 17:40:30 -0400
A gauge of global equity markets climbed on Thursday on optimism for a speedy economic recovery and a massive stimulus plan in Europe helped lift regional stocks and the euro, while gold rebounded on a safety bid on deteriorating U.S.-China relations.
- ViacomCBS slashes up to 400 jobs as part of merger restructuring: source
Thu, 28 May 2020 17:37:36 -0400
ViacomCBS Inc is cutting up to 400 employees across CBS as part of its plan to save $750 million from its merger with CBS, a source familiar with the matter said on Thursday.
- U.S. major airlines roll out more options to avoid staff layoffs
Thu, 28 May 2020 17:22:33 -0400
The top three U.S. airlines, hit hard by the coronavirus pandemic, are rolling out fresh programs to induce tens of thousands of employees to accept voluntary leave or early retirement in the hope of avoiding widespread furloughs in the fall, company memos show.
- Cisco to acquire software firm ThousandEyes
Thu, 28 May 2020 16:54:30 -0400
Cisco Systems Inc has agreed to acquire privately held software maker ThousandEyes Inc, the network gear maker said on Thursday.