SoftBank’s Son hopes ‘winged unicorns’ can save crumbling tech empire
SoftBank Group Corp CEO Masayoshi Son on Monday pinned his hopes on a small group of “winged unicorns” to save the performance of his $100 billion Vision Fund – although he gave few clues on which ones they would be.
Global shares, oil rally as lockdowns ease, vaccine hopes
A gauge of global equity markets surged 3% on Monday and oil rallied to highs last seen in mid-April as data from an early-stage trial for a coronavirus vaccine lifted hopes of a faster recovery from the pandemic-driven economic slump.
Amazon’s French warehouses to resume work with 30% of staff on Tuesday: unions
Amazon’s French warehouses are set to re-open on Tuesday with about 30% of employees, three union officials said, following an agreement with staff representatives last week.
U.S. auto industry returns to life after lockdown
The Detroit Three automakers and their suppliers began restarting assembly lines on Monday after a two-month coronavirus lockdown in a slow revival of a sector that employs nearly 1 million people in the United States.
Delta to resume flying several major routes in June
Delta Air Lines said on Monday it would resume flying several major routes in June that were suspended due to the coronavirus pandemic, including some Trans-Atlantic and Caribbean destinations.
IMF chief warns full global economic recovery unlikely in 2021
The global economy will take much longer to recover fully from the shock caused by the new coronavirus than initially expected, the head of the International Monetary Fund said, and she stressed the danger of protectionism.
Wall Street surges on hopes for stimulus, coronavirus vaccine
Wall Street’s main indexes surged on Monday as encouraging early data from a potential coronavirus vaccine trial boosted sentiment, with investors also counting on more stimulus to rescue the economy from a deep slowdown.
Brent at one-month high, U.S. oil tops $32 as lockdowns ease
Oil prices jumped on Monday, with benchmark Brent hitting a one-month high and U.S. crude topping $30, supported by optimism about the reopening of economies and output cuts by major producers.
U.S. homebuilder confidence rises in May
Confidence among U.S. single-family homebuilders rose in May, potentially signaling that the worst of the economic downturn was probably over as the country gradually reopens after lockdowns to slow the spread of the novel coronavirus.
Exclusive: Nissan’s survival plan for Europe: SUVs and sharing with Renault
Nissan Motor Co is working on a plan to scale back its European business, focusing on sport utility and commercial vehicles as well as more effective sharing of products and investments with partner Renault, three sources told Reuters.
