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Reuters Business News
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Updated: 4 years 27 weeks ago
Australian regulator says Google's $2.1 billion Fitbit deal could harm competition
Australia's antitrust regulator warned Google's planned $2.1 billion acquisition of fitness tracker maker Fitbit may give it too much of people's data, potentially hurting competition in health and online advertising markets.
Categories: Business News
Oil prices fall as coronavirus case surge heightens demand fears
Oil prices slipped on Thursday on concerns that a spike in new coronavirus cases in China and the United States could dampen a recovery in fuel demand, even as lockdowns ease.
Categories: Business News
Global stocks retreat as investors fret over coronavirus relapse
Asian stocks and Wall Street futures fell on Thursday as spiking coronavirus cases in some U.S. states and in China dented hopes of a quick global economic comeback from the pandemic.
Categories: Business News
Dollar and yen hold advantage as risk aversion grows
The dollar and the yen edged higher on Thursday as growing concerns about a rise in coronavirus cases underpinned safe-haven demand for both currencies.
Categories: Business News
Air maintenance firms, manufacturers plan for $60 billion in lost sales
Maintenance firms and spare parts producers who keep airplanes running are bracing for a decline of up to 75% in sales this year - and more pain to follow - as airlines park or retire thousands of aircraft due to the coronavirus pandemic.
Categories: Business News
Trump administration proposes rolling back protections for big tech
The U.S. Justice Department proposed on Wednesday that Congress take up legislation to curb protections big tech platforms like Alphabet's Google and Facebook have had for decades, a senior official said, following through on President Donald Trump's bid to crack down on tech giants.
Categories: Business News
U.S. weekly jobless claims remain high, second wave of layoffs blamed
A second wave of layoffs amid weak demand and fractured supply chains is likely keeping new U.S. applications for unemployment benefits elevated, supporting views that the economy faces a long and difficult recovery from the COVID-19 recession.
Categories: Business News
Glass Lewis joins ISS in opposing Tesla chairwoman's re-election to board
Glass Lewis said on Thursday that it urged Tesla Inc investors to vote against re-electing Chairwoman Robyn Denholm to the company's board, making it the second proxy advisory firm to oppose her appointment.
Categories: Business News
U.S. trade chief vows to push for 'broad reset' at WTO
The Trump administration will push for a broad reset of "outdated tariff determinations" at the World Trade Organization to fix what it sees as years of unfair treatment of the United States, a top trade official told U.S. lawmakers on Wednesday.
Categories: Business News
FAA chief acknowledges agency, Boeing made mistakes on 737 MAX
The head of the Federal Aviation Administration, Steve Dickson, acknowledged on Wednesday that Boeing Co and the U.S. air safety agency both made mistakes on the 737 MAX jet, but rejected senators' accusations the FAA was "stonewalling" probes after two fatal crashes.
Categories: Business News
Australian regulator raises concerns over Google, Fitbit deal
Australia's consumer watchdog on Thursday raised initial competition concerns over Alphabet Inc-owned Google's $2.1 billion bid for fitness tracker company Fitbit .
Categories: Business News
Dollar holds advantage as anxiety grows over rise in coronavirus cases
The dollar held onto gains on Thursday as growing concerns about a rise in coronavirus cases underpinned safe-haven demand for the U.S. currency.
Categories: Business News
Amazon launches Saudi Arabia shopping site despite CEO's dispute with kingdom
Amazon.com Inc on Wednesday launched a website for shoppers in Saudi Arabia, showing its continued business interests there despite a public dispute between Riyadh and the company's chief executive, Jeff Bezos.
Categories: Business News
Asian stocks set to fall as Wall St snaps 3-day winning streak
Asian stocks were set to dip on Thursday after a choppy Wall Street session as spiking coronavirus cases and prospects of new lockdowns erased earlier confidence about a global economic recovery.
Categories: Business News
S&P closes lower as new COVID-19 cases surge
The S&P 500 closed lower on Wednesday as news of spiking pandemic data and the prospect of a new round of economic lockdowns dampened investor optimism over signs of economic recovery.
Categories: Business News
Ex-Morgan Stanley diversity officer says bank slashed her budget by 71%
A lawyer representing a former Morgan Stanley diversity officer who is suing the bank over racial discrimination said on Wednesday the bank cut her client's budget for promoting diversity and financial education by 71% from the time she started in wealth management to 2019.
Categories: Business News
U.S. fines Copa Airlines $450K for transporting passengers between U.S., Venezuela
The U.S. Transportation Department said on Wednesday it fined Panama's Copa Airlines $450,000 for unlawfully transporting passengers between the United States and Venezuela via a stopover point, and ordered the airline to avoid future similar violations.
Categories: Business News
PepsiCo drops Aunt Jemima, criticized for racist history; Uncle Ben's, Mrs. Butterworth's under review
PepsiCo Inc said on Wednesday it will change the name and brand image of its Aunt Jemima pancake mix and syrup, dropping a mascot that has been criticized for a racist history, amid a national debate over racial inequality in the United States.
Categories: Business News
Americans face new coronavirus challenge: a shortage of coins
Banks across the United States are facing a shortage of coins during coronavirus crisis, prompting the U.S. Federal Reserve to ration distribution and work with the U.S. Mint to boost supply.
Categories: Business News
Google sets 2025 leadership diversity goal, ends 'tailgater' ID checks
Alphabet Inc's Google on Wednesday announced a new hiring goal and security policy to address racial issues at its offices, as protests over police brutality against African Americans have carried into discussions about corporate culture.
Categories: Business News
