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German carmaker BMW said on Tuesday it would begin a gradual restart of operations at its plant in the central Mexican state of San Luis Potosi on Wednesday, May 27.

Low-cost carrier Ryanair challenged Germany's 9 billion euro rescue package for Lufthansa on Tuesday, saying it distorted competition, while the German carrier moves towards finalising the deal next month.

Austria's government and Lufthansa-owned carrier Austrian Airlines on Tuesday reached agreement on loans for the airline and to keep Vienna airport as a long-haul hub, a major step forward in the rescue negotiations, daily Kurier said.

A banker went on trial in Switzerland on Tuesday charged with failing to sound the alarm over millions of dollars linked to scandal-tainted Malaysian sovereign wealth fund 1MDB.

U.S. car rental company Hertz Global Holdings said on Tuesday it has paid about $16.2 million in retention bonuses to a range of key executives at the director level and above, days after the company filed for bankruptcy protection.

The coronavirus crisis, which has virtually grounded global air traffic since March, has pushed several struggling airlines over the edge.

Chile's LATAM Airlines Group filed for U.S. bankruptcy protection on Tuesday, becoming the world's largest carrier so far to seek an emergency reorganization due to the coronavirus pandemic.

Heavy debts inherited from government bailouts and other fund-raising moves will delay the airline industry's recovery from the coronavirus crisis, a trade body said on Tuesday.

U.S. consumer confidence nudged up in May, suggesting the worst of the novel coronavirus-driven economic slump was probably in the past as the country starts to reopen, but it would probably take a while to dig out of the hole amid record unemployment.

SpaceX raised well over the $500 million it was seeking in its most recent funding round, filings with the Securities and Exchange Commission reveal.

Global equity markets strode higher on Tuesday, along with crude oil, as investors set aside Sino-U.S. rhetoric to focus on more stimulus in China and the prospect of a reopening world economy.

U.S. stocks jumped and the S&P 500 breached 3,000 points on Tuesday as optimism about a potential coronavirus vaccine and a revival in business activity helped investors overlook simmering Sino-U.S. tensions.

New York Governor Andrew Cuomo donned a face mask and rang the opening bell at the New York Stock Exchange on Tuesday, marking the partial reopening of the trading floor at the iconic 11 Wall Street building, which had been closed since March 23 due to the coronavirus.

Ship assessors are resorting to virtual inspections of oil tankers to keep vessels afloat, as the coronavirus pandemic makes physical visits to check for seaworthiness tougher and a slump in fuel demand increases the need for ships as storage.

U.S. passenger railroad service Amtrak told Congress in a letter made public Tuesday it needs a further $1.475 billion bailout or it will be forced to make sweeping service cuts and suspend some routes.