Nasdaq rises to record again on economic recovery hopes
U.S. stocks rose on Monday with the Nasdaq hitting a new intraday high after a surprisingly upbeat jobs report last week raised expectations of a swift recovery from a coronavirus-driven downturn.
Nestle confirms sale of Buitoni brand’s North American business
Nestle SA is selling the North American business of its Buitoni pasta brand to private-equity firm Brynwood Partners, the Swiss food group said on Monday.
Nasdaq sets new record, close to confirming bull market in place
The Nasdaq Composite Index rose to a new high on Monday, and looks on track to confirm that it was the first of Wall Street’s main indexes to enter a bull market two and a half months ago, after Wall Street’s nosedive on worries about the novel corona…
PG&E plans $5.75 billion equity raise to fund bankruptcy exit
California-based power provider PG&E Corp said on Monday it plans to raise $5.75 billion from public offerings as it tries to emerge from Chapter 11 bankruptcy by the end of this month.
Volkswagen replaces Herbert Diess as CEO of the VW brand
Volkswagen replaced Herbert Diess as chief executive of the VW brand on Monday and installed chief operating officer Ralf Brandstaetter to lead cost cutting efforts at the company’s largest plants in Germany.
South Korean court denies arrest warrant request for Samsung heir
A South Korean court on Tuesday denied an arrest warrant request for Samsung Group heir Jay Y. Lee after prosecutors accused him of accounting fraud and stock manipulation.
VW says Stefan Sommer, board member for procurement to leave
Volkswagen said Stefan Sommer, group board member for procurement and components, will leave the company on June 30, 2020 as part of a broader management reshuffle.
U.S. economy entered recession in February, business cycle arbiter says
(This June 8 story corrects GDP decline in paragraph 6 to 5.0% from 4.8%)
Nasdaq hits new record on swift economic recovery hopes
U.S. stocks rose on Monday, with the Nasdaq hitting a record high for the second straight session, after a surprisingly upbeat jobs report last week raised bets of a swift recovery from a coronavirus-driven downturn.
Lufthansa’s Austrian arm gets 450 million euro government bailout
Austria is granting Lufthansa’s Austrian Airlines unit a 450 million euro ($508 million) bailout that will protect Vienna as a transit hub and safeguard “the bulk” of the flag carrier’s 7,000 jobs, the government said on Monday.
