SoftBank-backed ride-hailing firm Grab announces layoffs
Southeast Asian ride-hailing and payments firm Grab announced hundreds of job losses on Tuesday due to the impact of novel coronavirus.
U.S. expected to report record rise in monthly retail sales
U.S. retail sales likely experienced a record rise in May as 2.5 million Americans went back to work, although any rebound will retrace only a fraction of the historic drops in March and April amid the coronavirus lockdowns.
Oil prices drop as rise in coronavirus cases stokes fuel demand fears
Oil prices slid on Tuesday on lingering concerns over the threat to fuel demand from the resurgence of new coronavirus infections around the world, though hopes for further cuts in crude supplies stemmed losses.
FCC chair calls T-Mobile U.S. network outage ‘unacceptable’, vows probe
The Federal Communications Commission (FCC) will probe an extensive T-Mobile network outage that impacted customers across the United States, the head of the U.S. telecommunications regulatory agency said on Monday.
Exclusive: Chesapeake Energy to file for bankruptcy as soon as this week – sources
Chesapeake Energy Corp is preparing to file for bankruptcy as soon as this week, said three people familiar with the matter, becoming the largest oil and gas producer to unravel after an energy market rout caused by the coronavirus outbreak.
Asian shares jump, yields rise as Fed readies corp bond buying
Asian shares and Wall Street futures rallied on Tuesday as the formal start of the Federal Reserve’s corporate bond buying programme boosted global investor sentiment and calmed earlier worries about a second wave of coronavirus infections.
Oil prices ease as coronavirus infections rise
Oil prices dipped on Tuesday on jitters that a rise in coronavirus infections around the world could hurt fuel demand, but hopes that production cuts could be extended kept declines in check.
Huawei CFO raises new argument to fight U.S. extradition in Canada court
Huawei Chief Financial Officer Meng Wanzhou is raising a new argument in a Canadian court in a bid to fight extradition to the United States on bank fraud charges, court documents released on Monday showed.
The future of media: more digital and more economic pain, Reuters Institute says
The coronavirus outbreak has prompted a significant increase in news consumption but the economic turmoil is forcing news businesses to accelerate their move to digital, The Reuters Institute for the Study of Journalism said.
U.S. companies can work with Huawei on 5G, other standards: Commerce Department
The United States on Monday confirmed a Reuters report that it will amend its prohibitions on U.S. companies doing business with China’s Huawei to allow them to work together on setting standards for next-generation 5G networks.
