Business News

House prices see largest monthly fall for 11 years, says Nationwide

The Nationwide says house prices fell 1.7% in May as the coronavirus crisis hit market activity.

Qatar Petroleum's $19 billion LNG vessel order boon for South Korean shipbuilders

South Korea's ailing shipbuilders have been thrown a lifeline in an increasingly tough market with a $19 billion order from Qatar Petroleum (QP) for liquefied natural gas (LNG) ships, analysts said on Tuesday.

Coronavirus: Ministers 'looking at ways to relax travel quarantine rule'

It comes after some MPs criticised the government's plan to quarantine people coming to the UK for 14 days.

Stocks shrug off US unrest, China tensions amid easing of Covid-19 lockdowns - business live

Rolling coverage of the latest economic and financial news, as tensions simmer across the US and Hong Kong

Good morning and welcome to our rolling coverage of the world economy, the financial markets, eurozone and business

It’s hard to believe that during a global pandemic, when protests are raging across the US over the killing of George Floyd and geopolitical tensions are simmering over China’s control of Hong Kong, that investors would still be flocking to the equity market. But here we are.

The main focus once again appeared on the longer-term prospects of the easing of lockdowns across the world, though if the violence on US streets continues for much longer US investors might have to cope with a lockdown of a different kind, imposed by the National Guard.

This is something that President Trump hinted he might well do if the various states aren’t able to contain the outbreaks of violence across US cities.

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Stocks make cautious gains as U.S.-China frictions slow recovery rally

Asian stocks rose on Tuesday as investors' focus on the prospects of a global coronavirus recovery won out over familiar worries about U.S.-China relations and the depth of economic damage.

Virgin Australia administrator picks Bain, Cyrus as final bidders

Virgin Australia Holdings Ltd's administrator said on Tuesday it had selected Bain Capital and Cyrus Capital Partners as the final bidders for the country's second-biggest airline.

French Finance Minister: Renault loan not signed yet, but should be soon

French Finance Minister Bruno Le Maire said on Tuesday the government had not yet signed off on a planned 5 billion euro ($5.6 billion) loan for carmaker Renault , though he hoped the loan would be agreed soon.

Sell, stow or dump? Retailers wrestle with mountain of unsold stock

Forget fast or slow fashion, now it's ground to a halt.

Plunging cost of wind and solar marks turning point in energy transition: IRENA

Plunging costs of renewables mark a turning point in a global transition to low-carbon energy, with new solar or wind farms increasingly cheaper to build than running existing coal plants, according to a report published on Tuesday.

Natgas flows to U.S. LNG export plants sink to 9-month low due to coronavirus

The amount of natural gas flowing on pipelines to U.S. liquefied natural gas export plants is at its lowest levels since August, a signal of weak worldwide demand due to government lockdowns to repress the coronavirus.

Coronavirus: 'US economy could take decade to fully recover'

The warning from the Congressional Budget Office comes as tens of millions of American's are out of work.

Volkswagen closes $2.6 billion investment in self-driving startup Argo AI

German automaker Volkswagen AG has closed its $2.6 billion investment in Argo AI, the Pittsburgh-based self-driving startup disclosed in a blog post on Tuesday.

Tucker Carlson, Anderson Cooper Deliver Starkly Different Messages

In a sign of partisan divide, his monologue came as Anderson Cooper of CNN criticized Mr. Trump for calling protesters “thugs.”

Coronavirus: Marriott reopens all hotels in China as travel rebounds

The hotel giant says it has seen a pick-up in business travel as the sector shows signs of recovery.

Geely's Polestar plans China showroom expansion to compete with Tesla: sources

SHANGHAI Reuters) - Polestar, the premium electric vehicle maker owned by China's Geely, plans a big expansion of its showroom network in the mainland, sources said, as it prepares for delivery of cars to compete with Tesla Inc's locally made Model 3.

Southwest offers buyout packages, temporary leaves to 'ensure survival'

Southwest Airlines Co on Monday extended buyout packages and temporary paid leaves to employees in what its chief executive said was an effort to "ensure survival" as the carrier braces for a slow recovery from the coronavirus pandemic, according to documents detailing the packages that were seen by Reuters.

Chipotle CEO on stores damaged in protests: 'We can patch up and fix'

"Fortunately, all of our employees have been safe," Chipotle CEO Brian Niccol said in a "Mad Money" interview.

Oil prices hold ground ahead of OPEC+ meeting on extended output cuts

Oil prices rose in early trade on Tuesday, with traders waiting to see whether major crude producers agree to extend their huge output cuts to shore up prices at a meeting expected later this week.

Workers return to Mexico's border factories as auto sector reopens

Tens of thousands of workers lined up before dawn to return to work at automotive factories along Mexico's northern border on Monday, the first day that industries joined the country's list of essential activities beginning to reopen.

Stocks under pressure as Trump vows to end violent protests

Asian stocks were set to come under pressure on Tuesday following a dip in Wall Street futures as U.S. President Donald Trump vowed to use force to end violent protests in American cities, souring a previously upbeat market mood.

Lockdown break-ups and job changes boost rentals

Supply of new properties for rent is not keeping up with demand, property giant Rightmove says.

Black Workers, Already Lagging, Face Big Economic Risks

Black employment rates are plummeting, and the evolving wealth and income hit could fall on the shoulders of those ill-equipped to bear it.

Jim Cramer on Wall Street's relation to George Floyd protests: 'The market has no conscience'

The "Mad Money" host worries how the nationwide protests, which he generally supports, could impact the fight against coronavirus.

Cramer's lightning round: Harley-Davidson is not a buy

"Mad Money" host Jim Cramer rings the lightning round bell, which means he's giving his answers to callers' stock questions at rapid speed.

Boeing takes Embraer to arbitration over failed aviation deal

Boeing Co has taken former partner Embraer SA to arbitration over a failed $4.2 billion deal, the Brazilian planemaker said in a securities filing on Monday night.

Facebook staffers walk out saying Trump's posts should be reined in

Facebook employees walked away from their work-from-home desks on Monday and took to Twitter to accuse Chief Executive Mark Zuckerberg of inadequately policing U.S. President Donald Trump's posts as strictly as the rival platform has done.

Medical Workers Should Use Respirator Masks, Not Surgical Masks

The surgical masks used in risky settings like hospitals offer much less protection against the coronavirus, an analysis found.

Coronavirus: Oxfam to start reopening in England from 15 June

The charity has not confirmed which shops will open first, but says it is keen to start work again.

Op-Ed: What we need to do for our black daughter after the killing of George Floyd

My wife and I don't for one minute pretend to know what it's like to be black, but we know we want to be part of the solution for our adopted little girl.

Coronavirus will haunt US economy for a decade and wipe out $8tn, says CBO

Unemployment is soaring to levels unseen since the 1930s Great Depression as Congress debates another $3tn aid package

The ongoing coronavirus pandemic will haunt the US economy for a decade, wiping close to $8tn off economic growth, according to new projections released by the Congressional Budget Office (CBO) on Monday.

In a letter to lawmakers CBO director Phillip Swagel projected the virus will reduce US economic output by 3% through 2030, a loss of $7.9tn.

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