(Reuters) – Wall Street’s main indexes gave up early gains to trade lower on Friday, as fears over business disruptions due to another record-breaking rise in COVID-19 cases at home overtook optimism over a further stimulus for a post-pandemic economic revival. Netflix’s shares fell 7.2% after it forecast slower-than-expected subscriber growth during the third quarter […]

ROME (Reuters) – The Italian government plans to list Autostrade per l’Italia by early next year after forcing through an agreement with the Benetton family to take Atlantia’s (ATL.MI) motorway business under state control, sources close to the matter told Reuters. The agreement was hammered out at an all-night cabinet meeting this week, avoiding the […]

(Reuters) – United Airlines (UAL.O) and its pilots’ union said on Thursday they had reached an agreement on two different packages aimed at reducing involuntary furloughs in the fall and keeping pilots at the ready once coronavirus-hit demand starts to pick up. U.S. airlines, grappling with a dramatic industry downturn, have warned that tens of […]

NEW YORK (Reuters) – Government debt yields and global equity markets fell on Thursday as a growing number of U.S. coronavirus cases weighed on risk sentiment, which was also hurt by deteriorating U.S.-China relations and discouraging Chinese data. A jump in the number of U.S. COVID-19 cases has forced states such as California to reduce […]

(Reuters) – Morgan Stanley posted a better-than-expected surge in quarterly profit on Thursday, driven by strong trading gains as the coronavirus pandemic drove record swings in global financial markets. The bank’s trading unit recorded a 68% jump in revenue, led by a nearly 168% surge in bond trading. Equities trading revenue rose 23%. The results […]

CHICAGO (Reuters) – American Airlines (AAL.O) said on Wednesday it is sending 25,000 notices of potential furloughs to frontline workers and warned that demand for air travel is slowing again as COVID-19 cases increase and states re-establish quarantine restrictions. The Worker Adjustment and Retraining Notification Act requires companies to provide 60 days’ notice of potential […]

(Reuters) – Americans who received enhanced unemployment benefits due to the coronavirus pandemic spent more than when they were working, a study released on Thursday said, adding to concerns about a steep fall in spending when the emergency benefits expire. The $600 weekly supplement added to jobless benefits as part of the CARES Act helped […]

STOCKHOLM (Reuters) – Quarterly profits at Handelsbanken (SHBa.ST) and SEB (SEBa.ST) fell less than expected as the Swedish banks coped with the economic hit from the COVID-19 pandemic, although SEB saw a spike in provisions for bad loans. Nordic banks are the first in Europe to report second quarter earnings and so far have defied […]

Hour after hour in the dark, Chander Shekhar’s mind raced ahead to morning. More than three months had dragged by since the coronavirus forced Shekhar to shut down his business — a narrow, second-floor shop racked with vibrantly colored saris, on a block in New York’s Jackson Heights neighborhood once thronged with South Asian immigrant […]

BEIJING (Reuters) – China’s exports unexpectedly rose in June as overseas economies reopened after lockdowns, while imports grew for the first time this year, reinforcing views the recovery from the pandemic is gaining traction in the world’s second-largest economy. Exports in June edged up 0.5% from a year earlier, customs data showed on Tuesday, beating […]