(This August 31 story is refiled to add dropped word founding to Ertl’s title in paragraph 13) By Allison Martell and Julie Steenhuysen TORONTO/CHICAGO (Reuters) – High-profile COVID-19 vaccines developed in Russia and China share a potential shortcoming: They... More »
(Reuters) – McDonald’s Corp has been sued by 52 Black former franchise owners who accused the fast-food giant of racial discrimination by steering them to depressed, crime-ridden neighborhoods and setting them up for failure. In a complaint seeking up to $1 bi... More »
(Reuters) – A magnitude 6.8 earthquake struck near the coast of Northern Chile on Tuesday, the GFZ German Research Centre for Geosciences said, with local news media reporting some damage and minor landslides in areas near the epicenter. Chile’s interior minis... More »
SEOUL (Reuters) – South Korean prosecutors indicted Samsung Group’s Jay Y. Lee on Tuesday on suspicion of accounting fraud and stock price manipulation in connection with a 2015 merger, dealing a new blow to the head of one of Asia’s most valuable companies. L... More »
MANILA (Reuters) – The Philippines will not halt infrastructure projects involving Chinese firms blacklisted by ally the United States and will act in its own interests, not those of a foreign power, the president’s spokesman said on Tuesday. President Rodrigo... More »
LONDON (Reuters) – As major oil companies prepare to spend billions on renewable energy assets to stay relevant in a low-carbon future, the industry’s patchy track record on takeovers is a red flag for some investors. Ten years ago, the world’s top energy comp... More »
(Reuters) – The modified common cold viruses behind high-profile COVID-19 vaccine candidates from China’s CanSino Biologics (6185.HK) and Russia’s Gamaleya Institute have been studied for decades, but are still not widely used. The following are some details o... More »
(Reuters) – McDonald’s Corp (MCD.N) has been sued by 52 Black former franchise owners who accuse the fast-food giant of racial discrimination by steering them to depressed, crime-ridden neighborhoods and setting them up for failure. In a complaint seeking up t... More »
SYDNEY (Reuters) – Facebook Inc (FB.O) on Tuesday said it would stop Australians sharing news content on its platforms if a proposal to make it pay local media outlets for their content becomes law, escalating tension with the Australian government. Under Aust... More »
SYDNEY (Reuters) – Facebook Inc (FB.O) said it will block news sharing on its platforms in Australia if the government goes ahead with a law to force it, and Alphabet Inc’s (GOOGL.O) Google, to pay local media outlets for featuring their content on its platfor... More »
MANILA (Reuters) – The Philippines will not halt infrastructure projects involving Chinese firms blacklisted by ally the United States and will make its own decisions, not those of a foreign power, the president’s spokesman said on Tuesday. President Rodrigo D... More »
(Reuters) – Apple Inc (AAPL.O) has asked suppliers to make at least 75 million 5G iPhones for later this year, along with new Apple Watch models, a new iPad Air and a smaller HomePod, Bloomberg News reported on Tuesday. The company expects shipments of these n... More »
PARIS (Reuters) – French media conglomerate Vivendi (VIV.PA) and activist fund Amber Capital – the two biggest shareholders in French company Lagardere (LAGA.PA) – said they would go to court over Lagardere’s refusal to hold a special shareholders meeting. The... More »
SEOUL (Reuters) – South Korean prosecutors indicted Samsung Group leader Jay Y. Lee on charges of manipulating stock prices and breach of trust in order to cement control of the group, a prosecution official said on Tuesday. Considering the gravity of manipula... More »
(Reuters) – Facebook Inc said on Tuesday that it was preparing for Myanmar’s general election in November by improving the detection and removal of hate speech and content that incites violence and preventing the spread of misinformation. The company said in a... More »
(Reuters) – Zoom Video Communications Inc raised its annual revenue forecast by more than 30% after comfortably beating quarterly estimates on Monday as it converts more of its huge free user base to paid subscriptions. Shares of Zoom, which have surged almost... More »
(Reuters) – Facebook Inc said on Monday it is partnering with external researchers to examine the impact of the social media site on society during the 2020 U.S. presidential election. The company said findings of the studies will not be published until the mi... More »
(Reuters) – AstraZeneca Plc said on Monday it has begun enrolling adults for a U.S.-funded, 30,000-subject late-stage study of its high profile COVID-19 vaccine candidate. Trial participants will receive either two doses of the experimental vaccine, dubbed AZD... More »
(Reuters) – The U.S. Securities and Exchange Commission is considering enforcement action against United States Oil Fund LP, the largest crude oil exchange-traded fund, due to statements made after oil prices plunged into negative territory in April. The Unite... More »
SHENZHEN, China (Reuters) – Chinese drone giant SZ DJI Technology Co Ltd has been making sweeping cuts to its global sales and marketing teams as it faces coronavirus headwinds and mounting political pressure in key markets, current and former staff told Reute... More »
BERLIN (Reuters) – Germany’s anti-trust authority has launched an investigation into Amazon’s relationship with third-party traders selling on its site, its head was quoted as saying on Sunday. “We are currently investigating whether and how Amazon influences ... More »
BEIJING (Reuters) – China’s vaccine specialist CanSino Biologics Inc has won a patent approval from Beijing for its COVID-19 vaccine candidate Ad5-nCOV, state media reported, citing documents from the country’s intellectual property regulator. It is the first ... More »
1/WALL STREET WATCHES WASHINGTON U.S. lawmakers negotiating a fresh dose of stimulus have reached an impasse. Trillions of dollars injected by the Federal Reserve and huge government spending increases have stemmed coronavirus-linked economic damage, fuelling ... More »
(Reuters) – Oil refiners are permanently closing processing plants in Asia and North America and facilities in Europe could be next as uncertain prospects for a recovery in fuel demand after the coronavirus pandemic triggered losses. The pandemic initially cut... More »
SYDNEY (Reuters) – The leader of Australia’s New South Wales state apologised on Monday for failing to stop people carrying the novel coronavirus from disembarking from a cruise ship in Sydney in March, triggering what was at the time Australia’s worst outbrea... More »
(Reuters) – Evidence used by the United States to justify the extradition of Huawei Technologies Chief Financial Officer Meng Wanzhou is “unreliable and defective” and should not be considered by a Canadian court, Meng’s lawyers argued in documents released to... More »
SYDNEY (Reuters) – Alphabet Inc’s (GOOGL.O) Google on Monday said a proposed antitrust law in Australia forcing tech firms to pay for news that appears on their social media websites would adversely impact individual content creators and channel operators. Goo... More »
BERLIN (Reuters) – The number of confirmed coronavirus cases in Germany increased by 561 to 224,014, data from the Robert Koch Institute (RKI) for infectious diseases showed on Monday. The reported death toll rose by one to 9,232, the tally showed. Source: htt... More »
NEW YORK (Reuters) – U.S. stock index futures indicate Wall Street will make moderate gains on Monday as retail earnings queue up and with housing data in the offing. Second-quarter earnings season is mostly over, with major retailers yet to post results. Walm... More »
(Reuters) – British Trade Secretary Liz Truss pledged to fight U.S tariffs on Scotch whisky, calling them “unacceptable and unfair” in an op-ed in the Telegraph on Sunday. “I will fight to consign these unfair tariffs to the bin of history”, she wrote (AIR.PA)... More »
BERLIN (Reuters) – Unilever’s (ULVR.L) German food company Knorr will rename its popular “Zigeuner” – or gypsy – sauce as Hungarian-style paprika sauce after complaints that the name is offensive, becoming the latest brand to shift after a wave of protests ove... More »
BEDMINSTER, N.J. (Reuters) – U.S. President Donald Trump said on Saturday he could exert pressure on more Chinese companies such as technology giant Alibaba (BABA.N) after he moved to ban TikTok. Asked at a news conference whether there were other particular C... More »
LOS ANGELES (Reuters) – United Parcel Service and FedEx on Friday shot down social media calls that they step in to deliver mail-in ballots from the U.S. Postal Service, which is warning states of potentially “significant” delays. “State ballots must be postma... More »
(This August 13 story corrects to show that 2019 and 2020 H1 results are based on different accounting standards in paragraph 3, changes percentage change to profit figure in paragraph 1) By Joyce Lee SEOUL (Reuters) – Big Hit Entertainment, the management lab... More »
(Reuters) – Warren Buffett’s Berkshire Hathaway Inc (BRKa.N) said on Friday it has sold shares of some of the largest U.S. banks, slashing its stakes in Wells Fargo & Co (WFC.N) and JPMorgan Chase & Co (JPM.N) and exiting an investment in Goldman Sachs Group I... More »
LOS ANGELES (Reuters) – A new “Star Wars” holiday special produced with Legos will debut on Walt Disney Co’s Disney+ streaming service in November, the company said on Thursday. The special will feature Rey and other characters from the most recent “Star Wars”... More »
BOSTON (Reuters) – Investor Fredric Zaino, who spent 15 years at hedge fund Millennium Management, has launched his own firm and plans to invest in micro-, small- and mid-cap public and private companies focusing on biotech, real estate and consumer products. ... More »
HONG KONG (Reuters) – Hong Kong media tycoon Jimmy Lai became the highest-profile person arrested under a new national security law on Monday, detained over suspected collusion with foreign forces as around 200 police searched the offices of his Apple Daily ne... More »
SHANGHAI (Reuters) – Microsoft Corp has emerged as the most likely buyer of the U.S. operations of TikTok, the popular Chinese short-video app that U.S. President Donald Trump is preparing to effectively ban on national security grounds. A deal would be in lin... More »
OSLO (Reuters) – Equinor (EQNR.OL) on Monday announced the appointment of Anders Opedal as chief executive effective from Nov. 2 as the Norwegian oil and gas group looks to speed up a move into renewable energy. The new CEO, who had been executive vice preside... More »
MOSCOW (Reuters) – A Russian court on Monday fined Google 1.5 million roubles ($20,350) after finding it guilty of failing to block content banned in Russia, the Interfax news agency reported. Source: https://www.reuters.com/article/us-russia-alphabet-lawsuit/... More »
MILAN/FRANKFURT (Reuters) – When COVID-19 plunged Italy into lockdown, it was decision time at the Verampio power station. The control room, which runs a fleet of hydroelectric plants across the Piedmont region, hard hit by the pandemic, had to be secured to k... More »
LONDON (Reuters) – BP (BP.L) will need to invest tens of billions of dollars over the next decade and may have to accept lower returns than it can get from oil if it is to meet its target of becoming one of the world’s largest renewable power generators. The B... More »
DUBAI (Reuters) – State oil giant Saudi Aramco’s profit plunged 73% in the second quarter of the year, as a slump in energy demand and prices due to the coronavirus crisis hit sales at the world’s biggest oil exporter. But the company stuck with plans to pay $... More »
(Reuters) – Korean automaker Hyundai Motor Co (005380.KS) is creating a family of electric vehicles it will sell under the Ioniq brand as part of its drive to become the world’s third-largest seller of EVs by 2025, the company said on Sunday. Hyundai said the ... More »
SEOUL (Reuters) – Hyundai Motor Co (005380.KS) stock jumped as much as 10.2% on Monday to its highest price since May 2018, after the automaker said it would create a family of Ioniq-brand electric vehicles (EVs) as it aims to become the third-largest EV maker... More »
(Reuters) – Barclays Plc (BARC.L) is being probed by the United Kingdom’s privacy watchdog, the Information Commissioner’s Office (ICO), over allegations that the British bank spied on its staff, the agency said on Sunday. Earlier this year, Barclays said it w... More »
DUBAI (Reuters) – Saudi information security company Elm is to acquire digital services company Tabadul from Saudi Arabia’s sovereign wealth fund, Elm said in a statement on Sunday. The Public Investment Fund (PIF) also owns Elm and was considering an initial ... More »
SHANGHAI/SHENZHEN, China (Reuters) – Huawei Technologies Co [HWT.UL] will stop making its flagship Kirin chipsets next month, financial magazine Caixin said on Saturday, as the impact of U.S. pressure on the Chinese tech giant grows. U.S. pressure on Huawei’s ... More »
LONDON (Reuters) – British broadcaster ITV will this year hold its reality TV show “I’m A Celebrity … Get Me Out of Here” in a ruined English castle in winter instead of the heat of the Australian jungle, as COVID-19 restrictions make global travel all but imp... More »
(Reuters) – AMC Entertainment Holdings Inc said on Thursday it expects all its international theaters to resume operations in the next two to three weeks, while two-thirds or more of its U.S. theaters are set to reopen later this month. Movie theaters across t... More »
LOS ANGELES (Reuters) – Grammy-winning R&B star Lizzo has signed a deal to produce television programming for Amazon.com Inc’s Prime Video streaming service, the singer announced on Thursday. The 32-year-old singer of “Good as Hell” and “Juice” had a breakout ... More »
DUBAI (Reuters) – Abu Dhabi state defence and security entity Tawazun is to build a satellite assembly, integration and testing centre with Airbus in the United Arab Emirates’ oasis city of Al Ain, state news agency WAM reported on Wednesday. The centre also i... More »
(Reuters) – Billionaire Richard Branson will fly into space on a Virgin Galactic rocketship early next year, the space tourism company he founded said on Monday, adding that it would raise new funds with a share offering. Branson’s trip to space hinges on the ... More »
MEXICO CITY (Reuters) – Mexican schools will not reopen when the academic year begins on August 24 in order to safeguard the health of students and teachers because cases of coronavirus are still too high, education minister Esteban Moctezuma said on Monday. T... More »
MILAN (Reuters) – Luxury carmaker Ferrari (RACE.MI) trimmed its full-year earnings forecast on Monday after second-quarter income plunged due to supply chain and production disruptions due to the coronavirus pandemic. The company known as the ‘Prancing Horse’ ... More »
BEIJING/HONG KONG (Reuters) – A potential shotgun wedding to Microsoft Corp (MSFT.O) for TikTok’s U.S. operations provoked an outcry on Monday on Chinese social media as well as criticism from a prominent Chinese investor in TikTok owner ByteDance. The U.S. te... More »
(Reuters) – Alphabet Inc’s (GOOGL.O) Google is buying a 6.6% stake in home security firm ADT Inc (ADT.N) for $450 million in a deal that will allow it to provide service to customers of its Nest home security devices. ADT said on Monday the companies will work... More »
RIO DE JANEIRO (Reuters) – Brazil’s central bank said on Monday that tests had begun to trial payments via Facebook Inc’s messaging service WhatsApp in the country, calling them an “important advance.” In a statement, the bank said that the tests involve no re... More »
LONDON (Reuters) – World stocks and the dollar rallied after a cautious European morning as thin summer trading led to sharp swings in the market, and worries about U.S. gridlock over the next round of coronavirus aid eased. In Europe, stocks were up 1.2% as t... More »
PARIS (Reuters) – Healthcare company Sanofi Aventis France said it had been placed under formal investigation on charges of manslaughter over Depakine, which is an epilepsy drug that caused birth malfunctions and slow neurological development when taken during... More »
DES MOINES, Iowa (Reuters) – After years of being part of a future that never quite arrived, the coronavirus pandemic has put U.S. online car sellers on the map. Now comes a race to spend vast sums on digital commerce platforms specifically designed to handle ... More »
(Reuters) – Lordstown Motors has agreed to go public through a merger with blank-check company DiamondPeak Holdings in a deal that values the electric pickup truck start-up at pro forma equity value of $1.6 billion, the companies said on Monday. The combined c... More »
NEW YORK (Reuters) – Chipotle Mexican Grill Inc wants to hire another 10,000 employees in coming months as its sales rebound, an official said, one of several big restaurant chains looking to add staff in an economy otherwise dimmed by the coronavirus pandemic... More »
NEW YORK (Reuters) – The survival of J.C. Penney Co Inc hangs on whether the department store chain can reach a complex deal within days to sell itself to an alliance of retail mavens and distressed-debt investors. The 118-year-old retailer blew through a Frid... More »
(Reuters) – U.S. oil refiner Marathon Petroleum Corp posted a smaller-than-expected quarterly loss on Monday, hours after it announced the sale of its Speedway gas stations to Japan’s Seven & I (3382.T) for $21 billion, which is expected to ease the refiner’s ... More »
(Reuters) – As the world awaits a COVID-19 vaccine, the next big advance in battling the pandemic could come from a class of biotech therapies widely used against cancer and other disorders – antibodies designed specifically to attack this new virus. Developme... More »
LONDON (Reuters) – Investors in property funds should wait up to 180 days before they can get their money back to avoid widespread suspensions in rocky markets, Britain’s Financial Conduct Authority proposed on Monday. UK-regulated open-ended property funds of... More »
SHANGHAI (Reuters) – Chinese artificial intelligence company Shanghai Zhizhen Intelligent Network Technology Co., Ltd., also known as Xiao-i, has filed a lawsuit against Apple Inc, alleging it has infringed on its patents. The company is calling for 10 billion... More »
TOKYO (Reuters) – SoftBank Group Corp on Monday said it spent 398 billion yen ($3.8 billion) buying back 63.2 million shares between July 1 and Aug. 3, part of a repurchase programme that has helped lift its share price to two decade highs. The latest purchase... More »
SHANGHAI (Reuters) – Zoom Video Communications (ZM.O) will shift to a partner-only model in mainland China from Aug. 23, suspending direct sales to all customers in the region, the company said on Monday. Zoom customers in China received an email on Monday inf... More »
(Reuters) – Facebook Inc said on Friday that its users in the United States would be able to view and share official music videos on its platform, in a move to better compete with Alphabet Inc’s video platform YouTube. Facebook, which had 2.7 billion monthly a... More »
LOS ANGELES (Reuters) – Ellen DeGeneres on Thursday sent an emotional message to the staff of her television talk show saying she was taking steps to improve the culture on set following accusations of a hostile working environment. The email followed an inter... More »
NEW YORK (Reuters) – As someone who dreams of a career in the music business, Amanda Montgomery had big plans for her summer internship – working in studios, going on shoots for music videos, maybe taking in some live concerts. Thanks to COVID-19, her internsh... More »
SYDNEY (Reuters) – Ardent Leisure Group Ltd (ALG.AX) entered a guilty plea in an Australian court on Wednesday to charges related to a fatal accident on a river rapids ride at its Queensland theme park in 2016, a company spokesman told Reuters. Prosecutors had... More »
(Reuters) – Walgreens Boots Alliance Inc (WBA.O) said on Monday Chief Executive Officer Stefano Pessina has decided to step down from the position and will assume the role of executive chairman once a replacement is appointed. Pessina, 79, was appointed as the... More »
(Reuters) – Alphabet Inc’s Google will keep its employees home until at least next July, the Wall Street Journal reported on Monday, citing people familiar with the matter. Chief Executive Officer Sundar Pichai made the decision himself last week after debate ... More »
BERLIN (Reuters) – SAP’s (SAPG.DE) plans to float online sentiment tracking business Qualtrics would be a “win-win” proposition, CEO Christian Klein said on Monday, as the business software group confirmed its second quarter results and guidance. SAP would ret... More »
(Reuters) – Under Armour Inc disclosed on Monday that its top executives had received a Wells notice from the U.S. Securities and Exchange Commission related to an investigation about the sportswear maker’s accounting practices. Last year, the company said it ... More »
LONDON (Reuters) – Britain is closely watching rises in coronavirus cases in other European destinations such as France and Germany after slapping a 14-day quarantine on travellers from Spain at the height of the summer vacation season. The imposition of a Bri... More »
LONDON (Reuters) – Britain will drop its policy of requiring people returning from the Spanish Canary Islands or Balearics to quarantine for two weeks, the Sun newspaper said on Monday. On Saturday, Britain announced a 14-day quarantine on travellers from Spai... More »
BERLIN (Reuters) – Business software group SAP (SAPG.DE) has been selected by Moderna (MRNA.O) to help distribute the potential COVID-19 vaccine that the U.S. pharmaceuticals company is developing, CEO Christian Klein said on Monday. “Moderna just selected SAP... More »
(Reuters) – The United States might have more COVID-19 testing capacity than any other country. So why have we seen laboratories overwhelmed and many patients again waiting a week or more for results? At the heart of the crisis is a reliance by public and priv... More »
(Reuters) – U.S. grocer Albertsons Cos Inc ACI.N on Monday reported a 26.5% rise in same-store sales in its first quarter as a publicly listed company, driven by demand for home deliveries of groceries during the COVID-19 pandemic. The company’s shares, which ... More »
FRANKFURT (Reuters) – BMW (BMWG.DE) will offer a fully electric 5-series as part of sweeping product overhaul unveiled on Monday as the German carmaker seeks to lower vehicle emissions during production and on the road. “In ten years, the goal is to have a tot... More »
(Reuters) – Chinese telecom company Huawei Technologies Co has cut its India revenue target for 2020 by up to 50% and is laying off more than half of its staff in the country, the Economic Times reported on Monday, amid calls to boycott Chinese goods. Huawei’s... More »
SYDNEY (Reuters) – Australia’s competition regulator on Monday accused Alphabet’s Google of misleading consumers to get permission for use of their personal data for targeted advertising, seeking a fine “in the millions” and aiming to establish a precedent. Th... More »
PARIS (Reuters) – French supermarket retailer Carrefour (CARR.PA) and Uber Eats (UBER.N) said on Monday they were rolling out their home delivery partnership nationwide and to Belgium. The service, initially launched on April 6, was aimed at helping Parisians ... More »
SHANGHAI/BEIJING (Reuters) – Huawei Technologies’ founder Ren Zhengfei’s global ambitions are marked in bricks and mortar at a new company campus in southern China, where the buildings are replicas from European cities. Zhang Yiming, founder of ByteDance, the ... More »
OSLO (Reuters) – The Norwegian government will make an exception for Tom Cruise and his crew to shoot parts of a new “Mission: Impossible” movie in Norway this autumn without imposing quarantine requirements, a minister said on Friday. Production of the sevent... More »
LONDON/ROME (Reuters) – Activist hedge fund TCI Fund Management said it has complained to the European Commission over “illegitimate expropriation” by the Italian government of Atlantia’s motorways unit Autostrade per l’Italia. TCI, an investor in Atlantia, sa... More »
MILAN (Reuters) – Activist hedge fund TCI Fund Management, which is challenging the Italian government over the forced sale of Atlantia’s Autostrade per l’Italia (ASPI) unit, said on Friday the value of Autostrade could be between 11 and 12 billion euros. “I b... More »
TOKYO (Reuters) – The British government has asked Japan to help build its 5G wireless networks without Huawei Technologies [HWT.UL], the Nikkei said on Sunday, a further step in a global technology and security war between the United States and China. Britain... More »
HONG KONG (Reuters) – Global wealth managers are examining whether their clients in Hong Kong have ties to the city’s pro-democracy movement, in an attempt to avoid getting caught in the crosshairs of China’s new national security law, according to six people ... More »
MUMBAI/BENGALURU (Reuters) – India’s Infrastructure Leasing & Financial Services (IL&FS) said on Monday it expected to resolve about 57% of its near trillion rupee ($13.35 billion) debt pile even as the pandemic delayed the resolution process in some of the gr... More »
BERLIN (Reuters) – The German parliament’s financial committee will hold an extraordinary meeting on the Wirecard (WDIG.DE) scandal on Wednesday next week and Finance Minister Olaf Scholz is expected to be there, a Social Democrat (SPD) lawamker said on Monday... More »
(Reuters) – EBay Inc (EBAY.O) is in advanced talks to sell its classified-ads unit to Norwegian group Adevinta ADEV.OL as the online auction pioneer seeks to refocus on its core marketplace business, the Wall Street Journal reported on Monday. The price of the... More »
PARIS (Reuters) – French carmaker Renault (RENA.PA) on Monday reported a 34.9% drop in worldwide vehicle sales in the first half of the year due to the impact from the new coronavirus outbreak but said it had seen some signs of recovery in June. Sales of its Z... More »
DHAKA (Reuters) – Bangladesh has approved the third-phase trial of a potential COVID-19 vaccine developed by China’s Sinovac Biotech Ltd, officials said on Monday, as infections continue to rise in the densely-populated South Asian country. Sinovac has been lo... More »
PARIS (Reuters) – French specialty vaccines company Valneva will participate in Britain’s COVID-19 vaccine response programme, the company said on Monday and will provide up to 100 million doses of its SARS-CoV-2 vaccine candidate to the plan. Valneva also sai... More »
