• U.S. factory orders beat expectations in June Link https://t.co/DvfiEV3V0j
    Reuters Business Tue 04 Aug 2020 14:47

    WASHINGTON (Reuters) - New orders for U.S.-made goods increased more than expected in June, suggesting the manufacturing sector was regaining its footing, though rising COVID-19 cases threaten the tentative recovery.

  • With the #2020Election less than three months away, @Reuters looks at the various measures President Trump and his opponent Joe Biden have planned to revive the U.S. economy. More here: Link https://t.co/YPhHneM6TH
    Reuters Business Tue 04 Aug 2020 14:47

    (Reuters) - The coronavirus pandemic threw tens of millions of Americans out of work, ended the longest U.S. economic recovery on record and undermined a key argument for President Donald Trump’s re-election.

  • Diageo full-year sales plunge as demand in bars, restaurants dries up Link https://t.co/YDZ6PqjMTt
    Reuters Business Tue 04 Aug 2020 14:32

    (Reuters) - Diageo Plc (DGE.L), the world’s largest spirits maker, took a 1.3 billion pound writedown as it reported a bigger than expected decline in underlying net sales on Tuesday as demand for its whisky, vodka and gin fell in nearly all markets.

  • World shares hit five-month high; mixed earnings knock European shares Link https://t.co/7Qhn8GLlEx
    Reuters Business Tue 04 Aug 2020 14:22

    LONDON (Reuters) - European shares were mixed on Tuesday after company earnings reports, and the dollar’s rebound stalled as investors waited for talks about government aid in the United States to make progress.

  • Adidas extends CEO Rorsted's contract for five years Link https://t.co/XYnosWfBUt
    Reuters Business Tue 04 Aug 2020 14:12

    BERLIN (Reuters) - German sportswear firm Adidas (ADSGn.DE) on Tuesday said its supervisory board had extended the contract of Chief Executive Kasper Rorsted until July 31, 2026.

    Rorsted, 58, has been at the helm of Adidas since October 2016. His contract was due to expire at the end of July next year.

  • RT @ritvikcarvalho: Time for the daily #chart! Today @reutersMikeD talks about the global rebound in economic activity as shown by PMIs. ht…
    Reuters Business Tue 04 Aug 2020 14:12
  • Japan’s Nippon Steel is fighting a South Korean court's decision to seize the company's assets over its practice of forced labor during World War Two. Read more here: Link https://t.co/wCdjoyNQM5
    Reuters Business Tue 04 Aug 2020 14:02

    TOKYO/SEOUL (Reuters) - Nippon Steel Corp (5401.T) said on Tuesday it will appeal a South Korean court ruling that allows for a seizure of its assets, as tensions between Tokyo and Seoul over the case threaten to flare up again.

  • Farley to suceed Hackett as Ford CEO and president Link https://t.co/9vTm7WNLLh
    Reuters Business Tue 04 Aug 2020 13:47

    (Reuters) - Jim Farley will succeed Jim Hackett as Ford Motor Co (F.N) CEO and president on Oct. 1, the company said on Tuesday.

    Hackett, 65, who replaced Mark Fields as CEO in May 2017, is retiring and will be a special adviser to Ford through March 2021.

    Farley, 58, joined Ford in 2007 and was head of the company’s New Businesses, Technology and Strategy group.

  • EasyJet adds flights as summer bookings rise Link https://t.co/iUUAnBmeSM
    Reuters Business Tue 04 Aug 2020 13:32

    LONDON (Reuters) - British low-cost airline easyJet (EZJ.L) plans to fly at 40% of its capacity over the rest of the summer thanks to stronger than expected bookings despite continuing pandemic uncertainty.

  • WATCH: China's state-run newspaper China Daily slams the U.S. after Microsoft expresses interest in buying TikTok's American operations Link $MSFT https://t.co/urF3MfXSEP
    Reuters Business Tue 04 Aug 2020 13:32

    SHANGHAI (Reuters) - China will not accept the “theft” of a Chinese technology company and is able to respond to Washington’s move to push ByteDance to sell short-video app TikTok’s U.S. operations to Microsoft, the China Daily newspaper said on Tuesday.

    The United States’ “bullying” of Chinese tech companies was a consequence of Washington’s zero-sum vision of “American first” and left China no choice but “submission or mortal combat in the tech realm”, the state-backed paper said in an editorial.

    China had “plenty of ways to respond if the administration carries out its planned smash and grab”, it added.

    Microsoft Corp (MSFT.O) said on Monday it was in talks with ByteDance to buy parts of TikTok after U.S. President Donald Trump reversed course on a plan to ban the app on national security grounds and gave the firms 45 days to strike a deal.

    U.S. Secretary of...

  • Gold's mega rally faces $2,000 hurdle, but for how long? Link https://t.co/6pgMSCWhZe
    Reuters Business Tue 04 Aug 2020 13:17

    LONDON (Reuters) - Gold’s rally has halted just below $2,000 an ounce partly due to fierce technical resistance, but an eventual break above that level is likely, freeing prices for more record highs, technical analysts said.

  • Taiwan provisionally approves dexamethasone as coronavirus treatment Link https://t.co/NZGlGXJJOK
    Reuters Business Tue 04 Aug 2020 13:02

    TAIPEI (Reuters) - Taiwan provisionally approved the use of dexamethasone, a cheap and widely-used steroid, to treat the new coronavirus, as the island faces a shortfall of the antiviral drug remdesivir after the United States bought nearly all global supplies.

    Taiwan Centres for Disease Control Deputy Director-General Chuang Jen-hsiang told reporters on Tuesday that medical experts had decided to provisionally allow dexamethasone to be listed as a COVID-19 treatment but that procedures still needed to be completed before it could be given to any patients.

    Taiwan has reported 476 cases of the new coronavirus, including seven deaths. Most of the cases are imported and almost all have recovered. It has kept numbers low thanks to early and effective prevention work.

    Taiwan’s official Central News Agency said this week that stocks on the island of U.S. drugmaker Gilead’s...

  • Europe air safety regulator gives no firm date for 737 MAX to fly again Link https://t.co/Aj44GsipNQ
    Reuters Business Tue 04 Aug 2020 12:47

    PARIS (Reuters) - Europe’s air safety watchdog has no firm date for Boeing’s grounded 737 MAX to resume flights, it said on Tuesday, adding that the U.S. planemaker had some more work to do before a 17-month-old safety ban could be lifted in Europe.

  • Kuwaiti lessor Alafco reaches deal with Boeing in 737 MAX dispute Link https://t.co/Q2pkkqR7pT
    Reuters Business Tue 04 Aug 2020 12:32

    DUBAI (Reuters) - Kuwaiti aircraft leasing company Alafco will buy fewer aircraft from Boeing after reaching an agreement to end its legal claim over a cancelled 737 MAX order, it said on Tuesday.

    Alafco was suing the U.S. planemaker for $336 million over accusations it wrongly refused to return advance payments on a cancelled order for 40 of its troubled 737 MAX planes.

    The Kuwaiti lessor will now buy 20 aircraft from Boeing, instead of 40, with new delivery dates, it said in a bourse filing.

    Additional details of the agreement could not be disclosed due to confidentiality clauses, it said.

    Alafco said it was “looking forward to a long-lasting and mutually beneficial relationship with Boeing.”

    Alafco did not immediately respond to emailed requests for comment. Boeing declined comment.

    Boeing suspended deliveries of its narrow-body 737 MAX jet in...

  • Ralph Lauren quarterly revenue misses estimates Link https://t.co/n90kfsdYpm
    Reuters Business Tue 04 Aug 2020 12:17

    (Reuters) - Ralph Lauren Corp (RL.N) missed estimates for quarterly revenue on Tuesday, as it struggled to recover from the widespread coronavirus closures earlier this year of outlets and department stores across the world.

    The company reported a net loss of $127.7 million, or $1.75 per share, in the first quarter ended June 27, compared with a profit of $117.1 million, or $1.47 per share, a year earlier.

    Net revenue fell to $487.5 million from $1.43 billion, missing analysts’ average estimate of $615 million, according to IBES data from Refinitiv.

  • BP to cut fossil fuels output by 40% by 2030 Link https://t.co/q3SDAIPPoS
    Reuters Business Tue 04 Aug 2020 12:02

    LONDON (Reuters) - Energy group BP (BP.L) will increase its low-carbon spending to $5 billion a year by 2030 and boost its renewable power generation to 50 gigawatts (GW) while shrinking oil and gas output by 40% compared with 2019, it said on Tuesday.

    The portfolio it plans to build would include renewables, bioenergy and early positions in hydrogen and carbon capture and storage technology, with the bulk of the budget to be spent by 2025.

    BP’s oil and gas production is expected to shrink by at least one million barrels of oil equivalent a day from 2019 levels, the company said, adding that it would cease exploring for oil and gas in new countries.

    “BP today introduces a new strategy that will reshape its business as it pivots from being an international oil company focused on producing resources to an integrated energy company focused on delivering solutions for...

  • The U.S. Federal Aviation Administration proposed requiring four key design and operating changes to the Boeing 737 MAX aircraft to address its safety issues. Read more here: Link https://t.co/g9UOJh7UYp
    Reuters Business Tue 04 Aug 2020 12:02

    WASHINGTON/SEATTLE (Reuters) - The U.S. Federal Aviation Administration said on Monday it is proposing requiring four key Boeing Co (BA.N) 737 MAX design and operating changes to address safety issues seen in two fatal crashes that led to the plane’s grounding in March 2019.

    The agency is issuing a proposed airworthiness directive to require updated flight-control software, revised display-processing software to generate alerts, a revision of certain flight-crew operating procedures and changes in the routing of some wiring bundles.

    While the measures align with those expected by Boeing and aerospace analysts for months, the announcement comes after a series of delays and sets in motion the final sequence of events that could lead to the FAA lifting a grounding order on the plane later this year.  

    There are still a number of hurdles, including...

  • BP cut its dividend for the first time in a decade after a record $6.7 billion second-quarter loss and it sought to win over investors by speeding up its reinvention as a lower carbon company. More here: Link $BP https://t.co/2zsNx6vrQ1
    Reuters Business Tue 04 Aug 2020 11:52

    LONDON (Reuters) - BP (BP.L) cut its dividend for the first time in a decade after a record $6.7 billion second-quarter loss, when the coronavirus crisis hammered fuel demand, and it sought to win over investors by speeding up its reinvention as a lower carbon company.

    Its shares rose more than 7% on Tuesday after BP unveiled earlier than expected a plan to reduce its oil and gas output by 40% and boost investments in renewable energy, such as wind and solar, over the next decade.

    All major oil companies suffered in the second quarter as lockdowns to contain the new coronavirus limited travel and oil prices LCOc1 fell to their lowest in two decades.

    Several, including Royal Dutch Shell (RDSa.L) and Norway’s Equinor (EQNR.OL), cut their dividend in response.

    BP CEO Bernard Looney, who took the helm in February, avoided a dividend cut in the first quarter despite...

  • Spirit posts second straight quarterly loss as virus hits aero parts demand Link https://t.co/7b5V5E83N9
    Reuters Business Tue 04 Aug 2020 11:47

    (Reuters) - Airplane parts maker Spirit AeroSystems Holdings Inc (SPR.N) reported a loss for the second straight quarter on Tuesday, as its main customers Boeing Co (BA.N) and Airbus SE (AIR.PA) further cut production due to the COVID-19 pandemic.

    Spirit, among the air industry’s biggest parts suppliers, posted a net loss of about $256 million, or $2.46 per share, in the second quarter ended July 2, compared with a profit of $168 million, or $1.61 per share, a year earlier.

    Revenue plunged 68% to $644.6 million.

  • Futures retreat as U.S.-China tensions heat up over TikTok Link https://t.co/LYridR3tqI
    Reuters Business Tue 04 Aug 2020 11:32

    (Reuters) - U.S. stock futures pulled back on Tuesday as President Donald Trump’s moves to force China-owned TikTok into a sale of its U.S. operations drew a sharp rebuke from Beijing, ratcheting up tensions as the world slides into a pandemic-fuelled recession.

  • UK clears Amazon deal to buy 16% stake in online food platform Deliveroo Link https://t.co/iyGTjoPB0L
    Reuters Business Tue 04 Aug 2020 11:17

    (Reuters) - Britain’s competition regulator on Tuesday cleared Amazon’s purchase of a 16% stake in online delivery group Deliveroo, following a provisional nod in June.

    The Competition and Markets Authority’s (CMA) original clearance in April was on the basis that Deliveroo could go out of business without the Amazon investment, but changed its methodology to just focus on competition after criticism.

    "Today's final decision is the result of a thorough examination of this deal and the markets in which Amazon and Deliveroo operate," said Stuart McIntosh, the inquiry chair. (bit.ly/33vp36F)

  • As U.S. lawmakers plot to stop one of Moscow’s most important projects in Europe, the Nord Stream 2 pipeline, lobbyists supporting it are busier than ever but disclosing few details of their work, according to government filings and officials Link
    Reuters Business Tue 04 Aug 2020 11:07

    WASHINGTON (Reuters) - As U.S. lawmakers plot to stop one of Moscow’s most important projects in Europe, the Nord Stream 2 pipeline, lobbyists supporting it are busier than ever but disclosing few details of their work, according to government filings and current and former U.S. officials.

  • Hugo Boss sees demand for suits despite home working Link https://t.co/TeVxC7y3T4
    Reuters Business Tue 04 Aug 2020 11:02

    BERLIN (Reuters) - German fashion house Hugo Boss (BOSSn.DE) expects demand for suits and formal wear to return as coronavirus lockdowns ease even as it adjusts to the rising popularity of casual styles after sales tumbled 59% in the second quarter.

  • Sony posts milder-than-expected first quarter operating profit fall on gaming demand Link https://t.co/Jz38NWw7IF
    Reuters Business Tue 04 Aug 2020 10:52

    TOKYO (Reuters) - Japan’s Sony Corp (6758.T) surprised the market on Tuesday by reporting just a 1.1% profit fall for the cornonavirus-hit first quarter, as its gaming business thrived while consumers locked down at home looked for entertainment and downloaded more games.

  • The U.S. Federal Aviation Administration said it is proposing requiring four key Boeing 737 MAX design and operating changes to address safety issues seen in two fatal crashes that led to the plane’s grounding in March 2019 Link
    Reuters Business Tue 04 Aug 2020 10:47

    WASHINGTON/SEATTLE (Reuters) - The U.S. Federal Aviation Administration said on Monday it is proposing requiring four key Boeing Co (BA.N) 737 MAX design and operating changes to address safety issues seen in two fatal crashes that led to the plane’s grounding in March 2019.

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