BERLIN (Reuters) – German manufacturers’ recovery from lockdown measures continued last month, with output growing at the fastest pace since February 2018, a survey showed on Tuesday. IHS Markit’s final Purchasing Managers’ Index (PMI) for manufacturing, which... More »
MADRID (Reuters) – Spanish Prime Minister Pedro Sanchez said on Tuesday he was moderately optimistic about the country’s economic recovery from its worst downturn on record caused by the impact of the coronavirus pandemic. Sanchez reiterated that gross domesti... 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 »
TOKYO (Reuters) – Whoever succeeds Shinzo Abe as Japan’s prime minister will be confronted with growing signs that the job market is deteriorating in an economy laid low by the coronavirus pandemic. Top government spokesman Yoshihide Suga is emerging as a fron... More »
WASHINGTON (Reuters) – The Trump administration and Senate Republicans have been in regular contact over possible coronavirus relief measures and the Senate’s top Republican will “hopefully” unveil a new bill next week, Treasury Secretary Steven Mnuchin said o... 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 »
WASHINGTON (Reuters) – Amazon.com relies on extensive worker surveillance to boost employee output and potentially limit unionization efforts around the United States, says a research paper issued on Monday by the Open Markets Institute. The Washington-based r... More »
BENGALURU (Reuters) – Funds recommended equity holdings be trimmed to the lowest in over four years in August, despite record-breaking gains by world stocks, as the pandemic drags on and new data suggest the nascent economic rebound is stalling, Reuters polls ... More »
NEW DELHI (Reuters) – In his golden-hued office, decked out with peacock feathers and crystal balls, Indian mystic healer and astrologer Sanjay Sharma is busy offering his clients a peek into their future as the COVID-19 pandemic has muddied their present. “Ri... 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 »
DUTTA NAGAR, India (Reuters) – Until late March, Ashish Kumar was helping to make plastic boxes for Ferrero Rocher praline chocolates and the plastic spoons tucked inside Kinder Joy eggs to scoop out the milky sweet cream inside. With a diploma in plastic moul... 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 »
WELLINGTON (Reuters) – New Zealand’s Finance Minister Grant Robertson said on Monday that the new wage subsidy scheme is forecast to cost about NZ$510 million ($333.80 million) and cover 470,000 jobs. The scheme was announced last week after New Zealand locked... More »
CHICAGO (Reuters) – What happens to Social Security if we eliminate its funding? That is the question to ask after Donald Trump signed a presidential memorandum here last weekend ordering the deferral through year-end of revenue collected under the Federal Ins... More »
BEIRUT (Reuters) – Before he went missing on Aug. 4, Ghassan Hasrouty, an employee of Beirut’s giant grain silos for 38 years, thought he was working in the safest place in the city. The reinforced concrete walls and underground rooms were his shelter for many... More »
BEDMINSTER, N.J. (Reuters) – President Donald Trump signed executive orders on Saturday partly restoring enhanced unemployment payments to the tens of millions of Americans who lost jobs in the coronavirus pandemic, as the United States marked a grim milestone... More »
(Reuters) – After failing to reach a deal with the U.S. Congress for a fresh round of coronavirus pandemic relief, President Donald Trump signed a series of executive orders aimed at pumping up America’s pandemic-hit economy. The orders are likely to face some... More »
NEW YORK (Reuters) – The United States should implement another support package to ensure workers can stay safely at home while the novel coronavirus continues to spread, Chicago Fed President Charles Evans said in an interview with CBS News released on Sunday... 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 »
WASHINGTON/BEDMINSTER, N.J. (Reuters) – U.S. President Donald Trump vowed to unilaterally suspend payroll taxes and extend expired coronavirus unemployment benefits after negotiations with congressional Democrats on a broad pandemic aid package collapsed on Fr... More »
LONDON (Reuters) – The location of TikTok owner ByteDance’s headquarters is a commercial decision for the company to make, a spokesman for British Prime Minister Boris Johnson said on Monday, responding to a report that the firm could move to London. “It would... More »
LONDON (Reuters) – Irish peacemaker John Hume was a “political giant” who did so much to help bring an end to the Troubles in Northern Ireland, British Prime Minister Boris Johnson said on Monday. Hume, a key Roman Catholic architect of Northern Ireland’s 1998... 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 »
FRANKFURT/LOS ANGELES (Reuters) – – While millions of U.S. workers thrown into unemployment by the coronavirus pandemic fret about feeding their families, idled German airline purser Marco Todte is mainly concerned about his next vacation. Todte, 41, hasn’t fl... More »
LONDON/TOKYO (Reuters) – Euro zone manufacturing activity expanded modestly last month, its first growth since early 2019, and Asia’s pain eased as the contraction slowed in export-reliant nations, adding to hopes the sector is emerging from the hit of the cor... More »
WASHINGTON (Reuters) – The top Democrats in Congress are not close to a deal with the White House to pump more money into the U.S. economy to ease the coronavirus’ heavy toll, both sides said on Saturday, after an essential lifeline for millions of unemployed ... More »
WASHINGTON (Reuters) – Representative Raul Grijalva, an Arizona Democrat, has tested positive for coronavirus but feels fine and has gone into isolation, he said in a statement on Saturday. Grijalva, 72, was told of the positive test by the attending physician... More »
CHICAGO (Reuters) – Charlie Rich, the late country music singer and songwriter, had it right when he crooned this famous line: “Oh, no one knows what goes on behind closed doors.” We need to remind Congress of the truth of that line as it tries to push a plan ... 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 »
WASHINGTON (Reuters) – U.S. Senate Republicans on Monday are expected to unveil a $1 trillion coronavirus aid package hammered out with the White House, a starting point for negotiations with Democrats as unemployment benefits that have kept millions of Americ... More »
WASHINGTON (Reuters) – Enhanced unemployment benefits that the U.S. Congress authorized early in the coronavirus pandemic are due to expire at the end of July and thus far lawmakers have been unable to agree on a measure to extend them. Economists warn that co... 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 »
WASHINGTON (Reuters) – Top aides to U.S. President Donald Trump said on Sunday they agreed in principle with Senate Republicans on a $1 trillion coronavirus relief package — the party’s opening offer in negotiations with Democrats less than a week before enhan... More »
LONDON (Reuters) – Returning to the office will bring new challenges for banks and brokerages seeking to enforce good conduct by staff, after the bulk of their employees worked from home during the coronavirus pandemic, a financial markets industry body said o... More »
CHICAGO (Reuters) – The idea of using investments to promote environmental and social causes has grown quickly in recent years, and retirement plans looked like the next frontier – until the Trump administration weighed in last month. The U.S. Department of La... More »
(This July 17 story corrects to show company name in 15th paragraph is Howatherm not Howarth) By Caroline Copley BERLIN (Reuters) – A COVID-19 outbreak in Germany is forcing meatpacking plants to review infection risks posed by their cooling systems, placing t... More »
GDANSK/WARSAW (Reuters) – Poland’s industrial output PLIPY=ECI rose by 0.5% in June, better than the 6.9% decline forecast by analysts, who said the statistic office data suggest the economy may overcome the coronavirus crisis faster than initially expected. T... More »
SYDNEY (Reuters) – Australia faces an avalanche of business failures in its transport and hospitality sectors after government subsidies end in September, insolvency lawyers and economists say, while some argue that so-called ‘zombie’ firms should be allowed t... More »
LONDON (Reuters) – A growth spurt in the balance sheets of the world’s biggest central banks has crested in recent weeks, drawing warnings from investors that any signs of backpedaling on stimulus will jolt financial markets and strangle economic recovery. The... More »
LONDON (Reuters) – British minister Oliver Dowden will make a statement to parliament on Huawei some time after 1130 GMT on Tuesday, the opposition Labour Party said on Twitter. Britain is set to ban Huawei from Britain’s 5G network in a landmark decision that... More »
LONDON (Reuters) – Britain will place a “huge priority” on national security when considering Chinese telecoms firm Huawei’s role in the country’s 5G network, justice minister Robert Buckland said on Monday. “National security comes first … and I know that the... More »
WASHINGTON (Reuters) – Democratic House Speaker Nancy Pelosi said on Sunday she believes U.S. lawmakers can find a compromise on extending jobless benefits and unemployment insurance for Americans struggling amid coronavirus pandemic shutdowns. “We have to fin... More »
(Reuters) – U.S. President Donald Trump’s planned executive order on immigration will not include amnesty for migrants who are in the United States illegally but arrived in the country as children, a White House spokesman said on Friday. “This does not include... More »
PARIS (Reuters) – Several dozen Paris tour guides wearing masks and holding Mona Lisa portraits protested outside the Louvre museum on Monday for more support from the government to help them ride out the coronavirus crisis and a dearth of tourists. They gathe... More »
LONDON (Reuters) – Britain’s decision to allow China’s Huawei to play a limited role in building its 5G network is not “fixed in stone” and is being reviewed following the imposition of U.S. sanctions, culture minister Oliver Dowden said on Monday. Britain gra... More »
LONDON (Reuters) – British finance minister Rishi Sunak will try to restart the country’s economy by giving homebuyers a tax break and cutting value-added tax for pubs, restaurants and other hospitality firms, The Times newspaper reported. Sunak is due to anno... More »
LONDON (Reuters) – Britain hopes to permit outdoor and socially distanced performances at cultural venues, minister Oliver Dowden said on Monday, after announcing a nearly $2 billion investment in the arts. “I want all our cultural institutions to return to no... More »
TOKYO (Reuters) – Japan’s Fujitsu Ltd (6702.T) said on Monday it would halve its office space in three years as it rewrites the way employees work under a “new normal” amid the coronavirus pandemic. The IT solutions company said its roughly 80,000 group employ... More »
DUBAI (Reuters) – Louisa Sumagui and her family wanted a final momento of their 12 years in Dubai before returning to Australia after losing jobs in the tourism industry due to the coronavirus pandemic. The moment was captured for Sumagui, her husband and two ... More »
TOULOUSE, France (Reuters) – French company Sogeclair Aerospace (SCLR.PA) said on Tuesday that it was eyeing up to 245 job cuts in France, as the country’s aerospace sector reels from the hits to business caused by the coronavirus crisis. A spokesman said the ... More »
PARIS (Reuters) – Air France (AIRF.PA) wants to cut more than 7,500 job positions between now and 2022, reported BFM TV and Agence France Presse on Wednesday, citing trade union sources. Air France is preparing voluntary layoffs in response to the coronavirus ... More »
NEW YORK (Reuters) – “This is white supremacy. This is institutionalized racism,” Aaisha Joseph, an executive assistant in New York City, posted on Microsoft Corp’s (MSFT.O) LinkedIn in early June, calling out the Black leadership vacuum at tech giants. In ano... More »
WASHINGTON (Reuters) – Democrats in the U.S. House of Representatives this week showcased three big-ticket, election-year initiatives they say would improve healthcare, protect renters from eviction amid a pandemic and spend $1.5 trillion on infrastructure pro... More »
BRUSSELS/MADRID (Reuters) – Finance ministers of Spain, Ireland and Luxembourg are in the running to chair meetings of the powerful Eurogroup of euro zone finance ministers, with euro zone officials saying it is likely to be a close race between the Spanish an... More »
PARIS (Reuters) – Finland’s Nokia Oyj (NOKIA.HE) plans to cut 1,233 jobs at its French subsidiary Alcatel-Lucent International, equivalent to a third of the local workforce, the group said on Monday, confirming an earlier Reuters report. Nokia, which competes ... More »
NEW YORK (Reuters) – The Federal Reserve said on Monday it had opened registration for lenders interested in participating in its Main Street Lending Program, launching arguably the most complex program undertaken yet by the U.S. central bank to help keep the ... More »
WASHINGTON (Reuters) – U.S. Treasury Secretary Steven Mnuchin said on Monday he would talk to Congress about proper oversight of $660 billion in small business economic relief, after previously resisting calls to reveal who received the funds. Mnuchin tweeted ... More »
LJUBLJANA (Reuters) – China’s household appliances maker Hisense (000921.SZ) plans to start producing TV sets in Slovenia in January 2021, creating about 350 jobs in the country, Hisense said on Monday. Production would be approximately 1.5 million TV sets in ... More »
WASHINGTON (Reuters) – The Democratic National Committee’s council on climate change irked party leadership when it published policy recommendations this month that ventured beyond presidential candidate Joe Biden’s plan, according to three people familiar wit... More »
BUDAPEST (Reuters) – Hungary is ready to give financial support to Audi (NSUG.DE) to help its manufacturing plant in the country run at full operating capacity, Prime Minister Viktor Orban was reported as saying on Monday as he visited the site. Orban said Aud... More »
(Reuters) – Honeywell International Inc, a major supplier of aerospace products, said Monday it launched an unmanned aerial systems business to bet on the autonomous aviation space – drones, air taxis, and unmanned cargo delivery vehicles. Stéphane Fymat, the ... More »
WELLINGTON (Reuters) – Filming the sequel of James Cameron’s sci-fi blockbuster “Avatar” will bring hundreds of jobs and millions of dollars to New Zealand after it ended its coronavirus outbreak, the film’s producer told media as production resumed on Monday.... More »
CHICAGO (Reuters) – Employer retirement plans are not known for their flashy investments – a majority of 401(k) investors these days use target date funds that invest in broad, diversified equity and fixed income mutual funds that automatically rebalance to mi... More »
LONDON (Reuters) – British Airways will sell at least 10 works of art that normally hang in its executive lounges, a source said, turning to pieces by famous artists like Damien Hirst to raise millions of pounds to help it through the coronavirus pandemic. The... More »
SYDNEY/HONG KONG (Reuters) – Hong Kong will lead a $5 billion rescue of Cathay Pacific Airways (0293.HK), which like other airlines has been hit by a global travel slump triggered by the coronavirus pandemic. The government’s involvement in the recapitalisatio... More »
LONDON (Reuters) – British businesses have borrowed nearly 35 billion pounds ($44 billion) under three emergency credit programmes for companies hit by the coronavirus crisis with demand strongest for a 100% state-backed scheme for the smallest firms. After a ... More »
LONDON (Reuters) – The United Kingdom’s COVID-19 death toll neared 52,000 on Tuesday, according to a Reuters tally of official data sources that highlighted the country’s place as one of the worst hit in the world. New data for England and Wales brought the to... More »
LONDON (Reuters) – About 64,000 more people than usual have died in the United Kingdom during this year’s coronavirus pandemic, an expert from the Office for National Statistics said on Tuesday. Epidemiologists say excess mortality – deaths from all causes tha... More »
(Reuters) – The United States Tennis Association (USTA) said on Monday it will eliminate 110 jobs and close its White Plains, New York office as part of belt-tightening measures brought on by the COVID-19 outbreak. The USTA said in a statement the measures wer... More »
LOS ANGELES (Reuters) – Film and TV cameras can start rolling in California as soon as June 12, state officials said on Friday as they approved new guidelines to prevent the spread of the novel coronavirus on sets. Producers will need approval from local healt... More »
BEIJING (Reuters) – China will promote the resumption of the tourism, culture and sports sectors, a top-level meeting chaired by Premier Li Keqiang said on Thursday, state radio reported. Source: https://www.reuters.com/article/us-health-coronavirus-china/chin... More »
LONDON (Reuters) – The United Kingdom’s COVID-19 official death toll has reached nearly 43,000, underlining the country’s status as the worst-hit in Europe and raising more questions about Prime Minister Boris Johnson’s handling of the crisis. New official fig... More »
DUBAI (Reuters) – Abu Dhabi’s Etihad Airways has laid off hundreds of employees this month, including cabin crew, after the coronavirus pandemic forced it to ground flights, according to industry and company sources. The state-owned airline, which had 20,530 e... More »
MILAN (Reuters) – The auto industry represents a significant share of Italy’s economy and it is right to support those who create jobs, Deputy Economy Minister Laura Castelli said when asked about Fiat Chrysler’s (FCHA.MI) request for state-backed loans. The I... More »
LONDON (Reuters) – A consortium of British aerospace, automotive and medical companies said they were ramping up ventilator production to make sure there were enough available should there be a second spike in the novel coronavirus outbreak. “We are continuing... More »
BEIJING (Reuters) – After a 78-day delay, China’s parliament begins its annual session this week and is expected to unveil stimulus measures to spur an economy battered by the coronavirus as leaders grapple with problems from surging unemployment to worsening ... More »
WASHINGTON (Reuters) – The U.S. government’s handling of its massive economic response to the coronavirus pandemic will come under scrutiny on Tuesday as Treasury Secretary Steven Mnuchin and Federal Reserve Chair Jerome Powell testify before the Senate Bankin... More »
(Reuters) – Uber Technologies Inc (UBER.N) will concentrate on its core businesses in ride-hailing and food delivery and cut 23% of its workforce in an attempt to become profitable despite the coronavirus pandemic, Chief Executive Officer Dara Khosrowshahi sai... More »
LONDON (Reuters) – Travel group TUI (TUIGn.DE) will cut 8,000 jobs and look to shed 30% of its costs as it gears up for a July restart to European tourism, the German company said on Wednesday. Holiday plans have been put on hold in the face of travel restrict... More »
WELLINGTON (Reuters) – New Zealand’s Prime Minister Jacinda Ardern said on Wednesday that the annual budget will invest to create more jobs and get the economy going, but warned the country was about to enter a “very tough winter”. The government is seen unlea... More »
MADRID (Reuters) – The Spanish government ordered a two-week quarantine for all travellers coming into the country from May 15 in a bid to curb the spread of the novel coronavirus after one of the Europe’s strictest lockdowns helped slow down the epidemic in S... More »
LONDON (Reuters) – Britain’s government should extend a costly job support programme until the end of the year for retail and hospitality workers hit hardest by the coronavirus, a think tank said on Tuesday, ahead of an expected government announcement. The Re... More »
TOKYO (Reuters) – At the Tokyo elder-care home where 27-year-old Yoshimu works, the coronavirus has stretched already tight staffing, leaving residents to sometimes sit longer in soiled diapers or to steal food from one another. “Everything’s slower. If feedin... More »
LONDON (Reuters) – Britain will on Tuesday announce changes to programme that is paying the wages of more than 6 million workers at businesses affected by the coronavirus, its health minister said. Britain’s finance minister, Rishi Sunak, will make a statement... More »
(Reuters) – Tesla Inc (TSLA.O) Chief Executive Elon Musk on Monday said production was resuming at the automaker’s sole U.S. vehicle factory, in California, defying an order to stay closed and saying if anyone had to be arrested it should be him. The move come... More »
(Reuters) – Hyatt Hotels Corp (H.N) said late Monday it would lay off 1,300 people globally as it tries to cope with the coronavirus crisis, which has virtually halted global travel by keeping people indoors. Hyatt said it had also cut pay for senior managemen... More »
NEW YORK (Reuters) – Bitcoin slid on Monday in volatile trading, after it went through a technical adjustment that reduced the rate at which new coins are created, but the outlook remained upbeat as the increase in supply slows down. Monday’s “halving” cuts th... More »
WASHINGTON (Reuters) – President Donald Trump accused Democrats of moving to reopen U.S. states from coronavirus lockdown measures too slowly for political advantage on Monday, as Pennsylvania’s governor hit back against Republicans pushing a faster timetable.... More »
(Reuters) – Tesla Inc sued local authorities in California on Saturday as the electric carmaker pushed to re-open its factory there and Chief Executive Elon Musk threatened to move Tesla’s headquarters and future programs from the state to Texas or Nevada. Mus... More »
WASHINGTON (Reuters) – The White House has begun informal talks with Republicans and Democrats in Congress about what to include in another round of coronavirus relief legislation, officials said on Sunday, while predicting further U.S. jobs losses in the comi... More »
SYDNEY (Reuters) – Australia will ease social distancing restrictions in a three-step process, Prime Minister Scott Morrison said on Friday, as Canberra aims to remove most curbs by July and get nearly 1 million people back to work amid a decline in coronaviru... More »
MONTREAL (Reuters) – The major Canadian province of Quebec, among the worst hit by the coronavirus, started gradually restarting its economy on Monday while Prime Minister Justin Trudeau maintained his cautious stance. Quebec is allowing stores with an outside... More »
PARIS (Reuters) – The French government has rejected a request by Amazon (AMZN.O) to tap a state partial unemployment scheme for employees at its six warehouses in the country, a spokeswoman for the labor ministry said on Monday. The e-commerce giant has shut ... More »
LONDON (Reuters) – Protesters blocked construction sites along the route of a planned high-speed rail link on Monday, aiming to stop swathes of British woodlands being felled for a project that has also faced criticism over spiralling costs. Prime Minister Bor... More »
DUBAI (Reuters) – Uber Technologies’ Careem subsidiary said on Monday it was cutting 536 jobs this week, representing 31% of the Dubai-headquartered company’s workforce. The announcement came hours after Uber said it was shuttering its Eats delivery business i... More »
BENGALURU (Reuters) – Indian gym and wellness startup cure.fit has laid off as many as 800 of its staff across the country and permanently closed a number of fitness centres to cut costs amid the world’s biggest coronavirus lockdown, sources familiar with the ... More »
(Reuters) – General Electric Co (GE.N) said on Monday it was planning to cut the global workforce of its aviation unit this year by as much as 25%, or up to 13,000 jobs, including both voluntary and involuntary layoffs, citing prolonged aircraft reduction sche... More »
WASHINGTON (Reuters) – U.S. President Donald Trump said on Sunday he now believes as many as 100,000 Americans could die in the coronavirus pandemic, after the death toll passed his earlier estimates, but said he was confident a vaccine would be developed by t... More »
WASHINGTON (Reuters) – Treasury Secretary Steven Mnuchin on Monday said bipartisan discussions are underway over whether more U.S. government relief funding is needed amid the nation’s novel coronavirus outbreak, but that President Donald Trump is focused on t... More »
ROME (Reuters) – Grandparents hugged their grandchildren, toddlers rushed excitedly through parks and factories revived their long-stalled production lines as Italy started the slow process of unwinding Europe’s longest coronavirus lockdown. Nearly two months ... More »
