Travel slump could cost 25 million jobs - IATA

Travel slump could cost 25 million jobs - IATA

The global travel slump could cost 25 million jobs worldwide according to air travel industry body IATA.
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Warner Music hits IPO high note

Warner Music hits IPO high note

Warner Music Group received applause on Wall Street for the biggest IPO so far this year. Conway G. Gittens has the details.
Recovery hopes drive Wall Street higher

Recovery hopes drive Wall Street higher

Wall Street rallied broadly Wednesday with the Nasdaq approaching record highs as signs of an economic recovery from mandated shutdowns helped investors look beyond U.S. social unrest and pandemic worries.
Snap removes Trump account from curated promotional section

Snap removes Trump account from curated promotional section

Snap said it would no longer promote U.S. President Donald Trump's account in Snapchat's Discover section, saying his inflammatory comments last week made the account ineligible for the curated section where users explore new content. This report pro
‘FOMO’ drives stocks higher: analyst

‘FOMO’ drives stocks higher: analyst

Piper Sandler senior technical analyst Craig Johnson says investors' fear of missing out on the rally are driving the markets up. He tells Reuters' Fred Katayama technical indicators suggest the markets will march higher.
Trump administration bans Chinese airline flights to U.S.

Trump administration bans Chinese airline flights to U.S.

President Donald Trump's administration will bar Chinese airline companies from flying to the United States effective June 16 in the latest tit-for-tat spat between Washington and Beijing. Conway G. Gittens has the details.
AMC Theatres warns it may not survive the shutdowns

AMC Theatres warns it may not survive the shutdowns

AMC Entertainment Holdings Inc said on Wednesday there were "substantial doubts" about its ability to continue operating, if the company was forced to keep its theaters closed for a longer period because of the COVID-19 pandemic. Freddie Joyner has more.
Coty tries to keep up with the Kardashians

Coty tries to keep up with the Kardashians

Coty is in talks with reality TV star Kim Kardashian West over a potential collaboration for a beauty line, the cosmetics maker disclosed in a regulatory filing on Wednesday. Fred Katayama has more.
As airlines suffer, Wizz still bets on expansion

As airlines suffer, Wizz still bets on expansion

Budget carrier Wizz says it's sticking to expansion plans despite the global slump in air travel, but TUI says it's delaying new jet deliveries.
Moscow businesses reopen their doors amid virus slump

Moscow businesses reopen their doors amid virus slump

Some Moscow businesses reopened their doors on Wednesday (June 3) as Russia partially lifted coronavirus quarantine restrictions, allowing some non-food stores to open.
Tiffany shares fall with LVMH deal in doubt

Tiffany shares fall with LVMH deal in doubt

Shares of high-end retailer Tiffany fell for a second day after a report in fashion publication WWD suggested French luxury goods group LVMH was less certain about its $16.2 billion deal. Conway G. Gittens has more.
Lufthansa vows company revamp as losses balloon

Lufthansa vows company revamp as losses balloon

Lufthansa vowed to step up restructuring measures after posting a first-quarter net loss of 2.1 billion euros ($2.35 billion), days after agreeing a state bailout amid the fallout from the coronavirus pandemic.
Renault shares jump after state-backed loan deal

Renault shares jump after state-backed loan deal

Renault has sealed a state-backed loan totalling 5 billion euros, sparking a big jump in its share price Wednesday.
Recovery hopes lift Wall Street

Recovery hopes lift Wall Street

A late-session rally pushed Wall Street to solid gains Tuesday as investors looked past widespread social unrest and pandemic worries to focus instead on easing lockdown restrictions and signs of economic recovery.
Stocks have more room to run: analyst

Stocks have more room to run: analyst

DataTrek Research's Nick Colas says corporate earnings should help further lift stocks in 2020. He tells Reuters' Fred Katayama the protests won't hold the market back, noting that the S&P 500 rose 11% amid the social unrest in 1968.
Polestar ramps up battle with Tesla in China

Polestar ramps up battle with Tesla in China

Luxury EV brand Polestar is gearing up to take on Tesla in China, while Alibaba-backed Xpeng also has its sights set on the U.S. brand.
Southwest offers buyouts to 'ensure survival'

Southwest offers buyouts to 'ensure survival'

Southwest Airlines has expanded buyout and temporary leave incentives in order to reduce labor costs and avoid first-ever layoffs with the airline industry set for a slow rebound. Conway G.
Gilead is developing inhaled remdesivir

Gilead is developing inhaled remdesivir

Gilead Sciences is developing easier-to-administer versions of its antiviral treatment remdesivir for COVID-19 that could be used outside of hospitals, including ones that can be inhaled.
German coalition parties wrestle over fiscal stimulus package

German coalition parties wrestle over fiscal stimulus package

Chancellor Angela Merkel's ruling coalition wrestled on Tuesday over the final details of a massive stimulus package. Ciara Lee reports
Bon appetit! French restaurants re-open

Bon appetit! French restaurants re-open

Restaurants and cafes reopened in France on Tuesday (June 2) but Finance Minister Bruno Le Maire warned of a sharp economic contraction.
Coffee and snack chains try to figure out new normal

Coffee and snack chains try to figure out new normal

Chains like Starbucks and Pret A Manger face a challenge figuring out how to keep staff and customers safe, while also making a profit. Julian Satterthwaite reports
Sell, stow or dump? Clothing stores wrestle with mountain of stock

Sell, stow or dump? Clothing stores wrestle with mountain of stock

A mountain of apparel stock has been piling up in stores, distribution centers, warehouses and even shipping containers during months of COVID-19 lockdowns. As retailers reopen around the world, they have to work out how to get rid of it. Ciara Lee r
Facebook, Snapchat join chorus of companies condemning George Floyd death, racism

Facebook, Snapchat join chorus of companies condemning George Floyd death, racism

Facebook and Snapchat became the latest U.S. companies condemning racial inequality in the United States as violent protests flared up across major cities over the death of George Floyd, an unarmed black man who died while in police custody in Minnea
Stocks rise on recovery hopes

Stocks rise on recovery hopes

U.S. stocks posted gains Monday as signs of U.S. economic recovery helped offset jitters over increasingly violent social unrest amid an ongoing pandemic and rising U.S.-China tensions.
Zuckerberg faces employee backlash over Trump protest comments

Zuckerberg faces employee backlash over Trump protest comments

Facebook employees critical of CEO Mark Zuckerberg's decision not to act on President Donald Trump's inflammatory comments about U.S. protests went public on Twitter, praising the rival social media company for acting, and rebuking their own employer