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Reuters Business News
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Updated: 4 years 27 weeks ago
Hedge funds increased exposure to growth favorites in first quarter: Goldman
Hedge funds concentrated their portfolios even further into growth stocks including Amazon.com Inc and Microsoft Corp in the first quarter of 2020 as the COVID-19 pandemic pummeled U.S. markets, Goldman Sachs analysts said in a report.
Categories: Business News
No U.S. state avoided job losses in April: Labor Department
Unemployment rates rose and total employment fell in all 50 U.S. states and the District of Columbia in April as efforts to contain the coronavirus pandemic forced businesses to close across the United States, the Labor Department said on Friday.
Categories: Business News
Alibaba's sales surge as people shop online during lockdown
Alibaba Group Holding Ltd on Friday reported forecast-beating fourth-quarter revenues and profits, as more people shopped online for essentials because of the coronavirus lockdowns.
Categories: Business News
Hong Kong tensions unnerve world stock markets, oil tumbles
Global equity markets edged lower on Friday as Beijing moved to impose a new security law on Hong Kong after last year's pro-democracy unrest, further straining U.S.-China ties that cast a pall over recovery prospects and sent oil prices tumbling.
Categories: Business News
GM delays resumption of second shift at 3 North American truck plants -source
General Motors Co is delaying the resumption of second shifts at truck assembly plants in Michigan, Indiana and Mexico because of a lack of parts from Mexico, a person briefed on the matter said.
Categories: Business News
Exclusive: BP's Looney halves top management roles in energy transition plan
BP is more than halving the size of its senior management team as part of Chief Executive Bernard Looney's drive to make the 111-year-old oil company more nimble as it prepares for the shift to low-carbon energy.
Categories: Business News
Deere signals recovery as U.S. farmers to benefit from relief program
Deere & Co on Friday topped quarterly sales and profit estimates and forecast a smaller-than-expected fall in farm equipment sales for the year, signaling a recovery in demand for its harvesters and tractors.
Categories: Business News
Kohl's exits Jennifer Lopez, other women's brands as losses mount
Kohl's Corp said the coronavirus crisis would have a material impact on results this year as it removed eight brands including Jennifer Lopez, Juicy Couture and Popsugar from its stores and warned demand for women's apparel would remain weak.
Categories: Business News
U.S. shale bust slams rural economies as oil checks shrivel
Royalties from oil pumped on Paul Ruckman's land allowed the South Texas retiree to build a six-bedroom, seven-bathroom vacation home. He had plenty left over, and donated some of it to Helena, Texas, an 1800s ghost town that draws hundreds to historic buildings and gunfight re-enactments.
Categories: Business News
NetEase and JD.com set dates for $5 billion Hong Kong listings
Chinese technology company NetEase plans to carry out a secondary listing on the Hong Kong Stock Exchange on June 11, which will be followed one week later by web retailer JD.com , four sources with direct knowledge of the matter said.
Categories: Business News
Lufthansa bailout talks hit snag, drag on - Handelsblatt
Talks over a 9-billion euro German government bailout of Lufthansa have hit a snag and will continue over the weekend, a German newspaper reported on Friday.
Categories: Business News
Angola's oil exploration evaporates as COVID-19 overshadows historic reforms
The coronavirus pandemic has done in a handful of months what even a 27-year civil war did not: it has brought oil drilling to a halt in Angola, Africa's second-largest oil producer.
Categories: Business News
Deere profit tops as demand slump not as bad as feared
Deere & Co topped quarterly estimates for profit on Friday as demand for farm equipment fell less than feared and the company kept a tight lid on costs.
Categories: Business News
Futures retreat as Sino-U.S. tensions simmer
U.S. stock index futures retreated on Friday as growing tensions between Washington and Beijing added to fears of a slower recovery from a coronavirus-led recession.
Categories: Business News
U.S. strikes at a Huawei prize: chip juggernaut HiSilicon
The latest U.S. government action against China's Huawei takes direct aim the company's HiSilicon chip division--a business that in a few short years has become central to China's ambitions in semiconductor technology but will now lose access to tools that are central to its success.
Categories: Business News
Hong Kong tensions unnerve world stocks, oil tumbles
World stocks took a hit and the Chinese yuan weakened on Friday as Beijing moved to impose a new security law on Hong Kong after last year's pro-democracy unrest, further straining fast-deteriorating U.S.-China ties.
Categories: Business News
Oil drops over 5% on China-U.S. tensions, demand doubts
Oil fell 5% on Friday towards $34 a barrel as tensions rose between the United States and China, and doubts grew about the pace of demand recovery from the coronavirus crisis.
Categories: Business News
Cabin crew union demands Lufthansa bailout safeguards jobs
Germany's airline cabin crew union called on Friday for Berlin to include measures to safeguard jobs in the bailout package which is being finalised for airline Lufthansa .
Categories: Business News
EasyJet founder fails to oust management, proxy votes show
EasyJet said founder Stelios Haji-Ioannou had failed in his attempt to oust key management including the CEO, according to the initial results of a shareholder vote brought over the airline's plan to buy new planes.
Categories: Business News
China's Geely to explore deeper cooperation with Daimler: chairman
China's Geely will explore the possibility of deeper cooperation with German luxury automaker Daimler AG , its Chairman Li Shufu said on Friday.
Categories: Business News
