Boeing 737 MAX certification flight test expected soon

WASHINGTON (Reuters) – A key step in the return to service of the grounded Boeing 737 MAX could take place as soon as early next week, two people briefed on the matter said on Friday. Boeing Co’s (BA.N) best-selling plane has been grounded since March 2019 after two fatal crashes killed 346 people. A certification […]

Exclusive: Italy's Generali in bid to acquire U.S. asset manager Brightsphere – sources

NEW YORK/LONDON/MILAN (Reuters) – Assicuracioni Generali SpA (GASI.MI) has approached Brightsphere Investment Group Inc (BSIG.N) about a possible acquisition of the U.S. asset management firm, people familiar with the matter said on Friday. A deal would expand the U.S. footprint of Italy’s top insurer while enabling Brightsphere’s largest shareholder, hedge fund Paulson & Co, to […]

Global stock markets sink as U.S. virus concerns offset Europe rebound hopes

NEW YORK (Reuters) – Global equities sank and perceived safe-haven assets like U.S. Treasuries and gold gained on Friday as investors weighed hopes that Europe will continue to rebound from the coronavirus pandemic’s economic damage against concerns over a record surge in new COVID-19 infections in the United States. The euro zone is “probably past” […]

Gap and Kanye West sign 10-year deal to create line of Yeezy apparel; shares soar

NEW YORK (Reuters) – Gap Inc (GPS.N) has entered into a 10-year deal with rapper and fashion designer Kanye West to create a Yeezy line of clothing, both parties said on Friday, sending shares of the apparel retailer soaring 42%. Aimed at young shoppers, the Yeezy-Gap line, which will offer items such as hoodies, basics, […]

Samsung group heir should not be indicted, South Korea panel recommends

SEOUL (Reuters) – An external review panel in South Korea recommended that prosecutors should not indict Samsung Group heir Jay Y. Lee over a 2015 merger and alleged accounting fraud, the Supreme Prosecutors’ Office said on Friday. The recommendation could help pave the way for Lee’s attorneys to challenge the justification for the prosecution’s case […]

U.S. consumer spending rebounds in May

WASHINGTON (Reuters) – U.S. consumer spending rebounded sharply in May, but the gains are not likely to be sustainable, with income dropping and expected to decline further as millions lose their unemployment checks starting next month. The Commerce Department said on Friday consumer spending, which accounts for more than two-thirds of U.S. economic activity, jumped […]

Global stocks, oil and euro gain despite surging coronavirus cases

LONDON (Reuters) – Markets showed signs of optimism on Friday, with European shares gaining for a second consecutive day, oil prices rising and the dollar falling, despite a record number of new COVID-19 infections in the United States. Coronavirus cases rose across the United States by at least 39,818 on Thursday, the largest one-day increase […]

Coronavirus: UK car production plunges 95% in worst May since 1946

The number of cars being made in the UK plummeted by 95.4% last month in the worst May since 1946. Just 5,314 vehicles rolled off production lines with factories still closed or running at reduced capacity due to the coronavirus pandemic, according to figures released today by the Society of Motor Manufacturers and Traders (SMMT). […]

Wirecard collapse puts German watchdog in EU crosshairs

BRUSSELS/LONDON (Reuters) – The European Commission in a rare move has asked its markets watchdog to investigate German financial regulator BaFin over the collapse of payments company Wirecard . The company’s implosion on Thursday owing creditors almost $4 billion is shaping up to be one of Germany’s biggest corporate scandals. The financial technology company, which […]

Dollar keeps safe-haven bid as resurgent virus threatens recovery

TOKYO (Reuters) – The dollar held firm on Friday as caution over rapid rises in U.S. coronavirus cases cast doubt over the reopening of the economy, keeping demand for the safe-haven currency intact. The dollar index =USD stood at 97.360, having pared a large part of this week’s losses. Against the yen, the dollar traded […]