NEW YORK (Reuters) – Lyft Inc was sued on Friday by a former driver who accused the ride-sharing company of failing to provide required paid sick leave to drivers in Washington, D.C., a policy she said could fuel the spread of the coronavirus. FILE PHOTO: The Lyft logo is seen on a…
Month: May 2020
Coffee maker JDE Peet’s IPO wrapped up in just 72 hours: sources
LONDON/PARIS (Reuters) – It took just three days to sell shares in JDE Peet’s JDEP.AS as investors facing a dearth of opportunities because of the coronavirus-induced slow-down rushed to secure a dose of the world’s No. 2 maker of packaged coffee. FILE PHOTO: L’or and Douwe Egberts coffee packets are seen at…
Morgan Stanley plans June return of some traders to New York headquarters: CNBC
FILE PHOTO: A woman takes photos by the Morgan Stanley building in Times Square in New York City, New York U.S., February 20, 2020. REUTERS/Brendan McDermid (Reuters) – Morgan Stanley (MS.N) is planning to start getting some traders to return to its New York headquarters in mid- to late-June, CNBC reported on…
Stocks pare losses after Trump’s Hong Kong response
NEW YORK (Reuters) – Global stocks fell while bonds and the euro climbed on Friday as investors turned cautious over China’s national security law on Hong Kong, but U.S. stocks pared earlier losses after President Trump did not announce any new retaliatory tariffs. Traders wearing masks work inside posts, on the first…
U.S. senators urge probe of TikTok on children’s privacy
FILE PHOTO: A TikTok logo is displayed on a smartphone in this illustration taken January 6, 2020. REUTERS/Dado Ruvic/Illustration WASHINGTON (Reuters) – Four U.S. senators, including a China hawk, urged the Federal Trade Commission on Friday to investigate allegations that the popular video app TikTok violated a consent decree protecting children’s privacy.…
S&P 500 up in choppy action after Trump comments on China
Traders wearing masks work, on the first day of in person trading since the closure during the outbreak of the coronavirus disease (COVID-19) on the floor at the New York Stock Exchange (NYSE) in New York, U.S., May 26, 2020. REUTERS/Brendan McDermid (Reuters) – The S&P 500 was up in late, choppy…
Coronavirus sinks U.S. consumer spending; savings hit record high
WASHINGTON (Reuters) – U.S. consumers cut spending by the most on record for the second straight month in April while boosting savings to an all-time high, and the growing frugality reinforced expectations the economy could take years to recover from the COVID-19 pandemic. The report from the Commerce Department on Friday also…
Los Angeles union, joined by ‘Pandemic Pig,’ demands meatpacking plant closure
LOS ANGELES (Reuters) – The union representing workers at a meatpacking plant near Los Angeles where at least 153 employees have come down with COVID-19 called on Thursday for the plant’s immediate closure, saying measures to control the outbreak were not working. The outbreak has hit over 10% of the workforce at…
Oil mixed on U.S.-China tensions but heads for huge monthly rise
NEW YORK (Reuters) – Oil prices were mixed on Friday, but were closing out the month with strong gains, bolstered growing fuel demand even as investors worried about worsening Washington-Beijing relations. FILE PHOTO: An oil pump is seen just after sunset outside Saint-Fiacre, near Paris, France September 17, 2019. REUTERS/Christian Hartmann July…
Tencent in talks to buy Warner Music stake: WSJ
FILE PHOTO: People visit Tencent’s booth at the World 5G Exhibition in Beijing, China, Nov. 22, 2019. REUTERS/Jason Lee/File Photo (Reuters) – Chinese internet giant Tencent Holdings Ltd (0700.HK) is in talks to invest $200 million in Warner Music Group, ahead of the record company’s slated initial public offering next week, the…
Economic Giants Are Restarting. Here’s What It Means for Climate Change.
As countries begin rolling out plans to restart their economies after the brutal shock inflicted by the coronavirus pandemic, the three biggest producers of planet-warming gases — the European Union, the United States and China — are writing scripts that push humanity in very different directions. Europe this week laid out a…
Congress Calls State Dept. Officials for Interviews in Expanded Pompeo Inquiry
WASHINGTON — Democratic leaders in Congress announced on Friday that three committees were calling top State Department officials to be formally interviewed in an expanding investigation into Secretary of State Mike Pompeo and his role in the sudden firing by President Trump this month of the department’s inspector general. At the urging…
Scientists Question Validity of Major Hydroxychloroquine Study
More than 100 scientists and clinicians have questioned the authenticity of a massive hospital database that was the basis for an influential study published last week that concluded the use of chloroquine and hydroxychloroquine to treat people with Covid-19 did not help and may have increased the risk of abnormal heart rhythms…
Wall Street climbs on healthcare, tech push
(Reuters) – U.S. stocks rose again on Thursday, boosted by healthcare and technology stocks, as investors continued to bet on a swift recovery from the coronavirus-driven economic slump. Traders wearing masks work, on the first day of in person trading since the closure during the outbreak of the coronavirus disease (COVID-19) on…
Stocks, euro rise on recovery hopes; U.S.-China rift lifts gold
NEW YORK (Reuters) – Global equity markets climbed on Thursday on optimism for a speedy economic recovery and a massive stimulus plan in Europe helped lift regional stocks and the euro, while gold rebounded on a safety bid on deteriorating U.S.-China relations. Traders wear masks as they work on the floor of…
Oil rises as higher U.S. refinery rates offsets surprise crude build
FILE PHOTO: An oil pump jack pumps oil in a field near Calgary, Alberta, Canada on July 21, 2014. REUTERS/Todd Korol/File Photo/File Photo NEW YORK (Reuters) – Oil futures rose about 2% on Thursday as a steady improvement in U.S. refining activity offset a surprise build in crude and diesel inventories and…
German auto supplier ZF Friedrichshafen to cut up to 15,000 jobs: memo
FILE PHOTO: Wolf-Henning Scheider, ZF CEO poses for a portrait at the 2019 Frankfurt Motor Show (IAA) in Frankfurt, Germany. September 10, 2019. REUTERS/Wolfgang Rattay/File Photo FRANKFURT (Reuters) – German car parts supplier ZF Friedrichshafen plans to reduce the workforce by up to 15,000 jobs, or around 10%, by 2025 as a…