Oil prices rose more than 2% on Monday as signs that fuel demand was recovering, while OPEC+ members were complying with a production cut deal, outweighed fears that new coronavirus infections could further slow the global economy.
A gauge of global equities rebounded on Monday after the Federal Reserve widened its program of buying corporate debt, while crude oil rebounded too on signs fuel demand is recovering and as investors grapple with how to assess the economic reopening.
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 [HWT.UL] to allow them to work together on setting standards for next-generation 5G networks.
Electric carmaker Tesla Inc is negotiating possible incentives with a Texas county that could bring a new auto assembly plant to the area near Austin, the state capital, the Austin American-Statesman reported on Monday.
The New York Stock Exchange will allow a limited number of market makers to return to its trading floor on Wednesday, a spokesperson said, nearly three months after closing it due to the coronavirus pandemic.
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British Airways is fighting for its survival and has acted lawfully, Willie Walsh, the chief executive of the airline's owner IAG said on Monday, in a terse response to lawmakers who heavily criticised its treatment of employees.
JPMorgan Chase & Co plans to start returning more traders and sales staff to its Manhattan headquarters starting next week with volunteers, a source familiar with the matter said on Monday.Roughly 20% of the bank's sales and trading staff have worked at its New York office throughout the coronavirus pandemic. Starting on June 22, the bank will gradually increase its in-office staff to as much as 50% by mid-July, the source said.
Wall Street closed higher on Monday following an announcement by the U.S. Federal Reserve regarding its corporate bond purchasing program that boosted investor confidence, which had been wavering amid a spike in new COVID-19 cases.
Wall Street is on the cusp of reopening its trading floors amid what has been a historic run in markets.
Apple Inc on Monday released the results of a study that found its App Store spurred $458 billion in sales last year from categories such as retail of physical goods, ride-hailing and advertising from which the iPhone maker takes no commission.
Planemaker Embraer said on Monday it will receive a $600 million loan, financed partly by Brazil's government, to help the company weather the coronavirus crisis that has ravaged the air travel industry.
Two former Pinterest employees who left the image-sharing company in late May publicly alleged in tweets on Monday that they had experienced racial discrimination in the workplace.
The Small Business Administration is reopening its Economic Injury Disaster Loan and EIDL advance grant portal to a broader array of eligible small businesses and nonprofits affected by the coronavirus pandemic, beginning Monday.
Delta Air Lines said on Monday it would resume passenger flights to Shanghai from Seattle, via Seoul, next week following Chinese government approval for U.S. carriers to fly there, with once weekly flights from Seattle and Detroit beginning in July.