Oil climbs 5% on U.S. jobless drop, OPEC+ meeting hopes
Oil prices rose on Friday after an unexpected fall in the May U.S. jobless rate and OPEC’s decision to bring forward to Saturday discussions on whether to extend record production cuts.
U.S. labor market unexpectedly improves, but recovery expected to be a slog
The U.S. economy unexpectedly added jobs in May after suffering record losses in the prior month, offering the clearest signal yet that the downturn triggered by the COVID-19 pandemic was probably over, though the road to recovery could be long.
Touting upbeat jobs data, Trump predicts U.S. economic recovery by 2021
President Donald Trump on Friday celebrated a stunning U.S. employment report that showed the country gained more than 2.5 million jobs last month during the thick of the coronavirus pandemic, and predicted the battered economy will have recovered by 2…
Cafe Rouge, Bella Italia could see nearly a third of outlets closed: sources
Britain’s high-street restaurant chains Bella Italia, Cafe Rouge and Las Iguanas could see around 30% of their outlets cut, two sources told Reuters, as their owner pushes ahead with talks to sell the businesses stricken by the COVID-19 crisis.
Factbox: Struggling restaurant chains risk disappearing from Britain’s high street
Faced with a partial reopening of their branches from July, many high street restaurant businesses in Britain risk disappearing from the high street or at least changing hands, as private equity owners decide whether to raise billions of dollars to sna…
Airbus warns it may sue airlines over undelivered jets: paper
A stand-off between airplane manufacturers and airlines over the coronavirus crisis is intensifying after Airbus signalled it would sue airlines that refuse to honour contracts.
Volkswagen resumes deliveries of its Golf 8 after software glitch
Volkswagen on Friday said it had resumed deliveries of its newest Golf model after voluntarily halting sales in mid-May.
Trump says he views U.S.-China trade deal differently amid coronavirus
U.S. President Donald Trump said on Friday he views the Phase 1 trade deal inked between the United States and China differently in the wake of the coronavirus pandemic.
LVMH backs down on renegotiating Tiffany deal, sources say
French luxury goods giant is not asking to renegotiate its $16.2-billion acquisition of U.S. jewelry chain Tiffany & Co after deliberating whether to do so, people familiar with the matter said on Friday.
Volkswagen board to review internal probe into racist car ad
Volkswagen has completed an internal report into how it came to publish a racist advert, the German carmaker said on Friday, adding that its findings will be released once its management board has reviewed the matter.
