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ChannelReuters: Business News    
RSS File: http://feeds.reuters.com/reuters/businessNews/
Description: Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals.
  • 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.
     
  • Trump move could scrap or weaken law that protects social media companies      Thu, 28 May 2020 18:59:28 -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.
     
  • 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.
     
  • Dell beats revenue estimates as remote working lifts workstation demand      Thu, 28 May 2020 16:50:55 -0400
    Dell Technologies Inc beat analysts' estimates for quarterly revenue on Thursday, boosted by demand for its workstations from companies moving more employees to work from home due to the coronavirus outbreak.
     
  • Italy's credit agency SACE approves state guarantees for FCA $7 billion bank loan: source      Thu, 28 May 2020 16:49:52 -0400
    The board of Italy's export credit agency SACE has approved state guarantees covering 80% of a 6.3 billion euro ($7 billion) bank loan for Fiat Chrysler , a source close to the matter said on Thursday.
     
  • Canada's Huawei extradition ruling could unleash more Chinese backlash      Thu, 28 May 2020 16:43:38 -0400
    A Canadian court ruling that could permit the extradition of a senior Huawei Technologies Co Ltd [HWT.UL] executive to the United States leaves Canada vulnerable to further retaliation from Beijing, analysts said.
     
  • LATAM's bankruptcy filing to delay its Brazil bailout to at least July: sources      Thu, 28 May 2020 16:39:20 -0400
    LATAM Airlines Group's U.S. bankruptcy filing this week will delay its potential bailout in Brazil to at least July and also push back aid to its rivals at least through the end of June, two sources said on Thursday.
     
  • Exclusive: TikTok owner ByteDance moves to shift power out of China - sources      Thu, 28 May 2020 16:22:29 -0400
    TikTok's poaching of Disney's Kevin Mayer to be its CEO was just the most visible part of a broader strategy by its Chinese owner to shift its centre of power away from China at a time of rising global tensions, several people familiar with the plans said.
     
  • Trump directs AG to boost enforcement of state laws on social media companies      Thu, 28 May 2020 16:11:59 -0400
    U.S. President Donald Trump said on Thursday that he is directing Attorney General William Barr to work with states to enforce their own laws against what he described as deceptive business practices by social media companies.
     
  • S&P cuts Rolls-Royce credit rating to junk on COVID-19 hit      Thu, 28 May 2020 15:42:44 -0400
    Ratings agency Standard & Poor's cut engine maker Rolls-Royce's credit rating to junk on Thursday, citing the disruption caused to global air travel from the COVID-19 pandemic.
     


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