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Reuters - Total results - 52441
Gold holds steady as virus fears offset gains in equities
Business

Gold holds steady as virus fears offset gains in equities

By Nakul Iyer (Reuters) - Gold prices were little changed on Friday as worries over an accelerating number of coronavirus cases countered a fillip to risk sentiment from positive U.S. and Chinese economic data. Spot gold was mostly unchanged at $1,775.06 per ounce by 1:40 p.m EDT (1740 GMT).

Almost a third of COVID-19 samples show mutation, but not worse disease - WHO
World

Almost a third of COVID-19 samples show mutation, but not worse disease - WHO

By Stephanie Nebehay and Michael Shields GENEVA (Reuters) - Almost 30% of genome sequencing data from samples of the COVID-19 virus collected by the World Health Organization (WHO) have shown signs of mutation, but there is no evidence this has led to more severe disease, a top WHO official said on Friday. "I think it's quite widespread," Soumya Swaminathan, WHO chief scientist, told Reuters on the sidelines of a briefing held by the U.N

Air France unions bristle as job cuts loom
Business

Air France unions bristle as job cuts loom

By Caroline Pailliez PARIS (Reuters) - Air France executives met labour representatives on Friday as union members and staff protested over the airline's plans for around 7,500 job cuts to cope with a collapse in travel due to the coronavirus pandemic. A small group of 100 union members and employees, from cleaning staff to check-in assistants, demonstrated outside the airline's base at Paris' Roissy airport, criticising its plans to cut staff after receiving state aid to help the company to ride out the pandemic fallout.

Embraer union sues to oust planemaker's board after failed Boeing deal
Business

Embraer union sues to oust planemaker's board after failed Boeing deal

By Marcelo Rochabrun SAO PAULO (Reuters) - A union representing workers at planemaker Embraer filed a lawsuit on Friday seeking to dismiss the company's board, after a $4.2 billion deal with Boeing Co collapsed amid the pandemic, leaving the Brazilian jetmaker scrambling for a new path forward. The lawsuit is the latest headache for Embraer in the aftermath of its breakup with Boeing.

Clean technology projects line up bids for $1 billion EU support
Business

Clean technology projects line up bids for $1 billion EU support

By Kate Abnett (Reuters) - Clean technology projects are readying bids for a billion-euro support package from the European Union under a flagship scheme for funding breakthrough low-carbon technologies. The EU Innovation Fund will support projects such as floating wind farms, carbon capture mechanisms and energy storage, all of which could help clean up sectors such as cement and steelmaking. "These large-scale investments will help restart the EU economy and create a green recovery that leads us to climate neutrality in 2050," EU climate chief Frans Timmermans said.

Commerzbank CEO offers to resign to give bank a fresh start
Business

Commerzbank CEO offers to resign to give bank a fresh start

FRANKFURT (Reuters) - Commerzbank Chief Executive Martin Zielke offered to resign on Friday to open the way for a fresh start for the German lender, which has been under pressure from some investors over its poor financial performance. The bank said its supervisory board would recommend to the broader Commerzbank board that it accept Zielke's offer and a decision would be made at a July 8 board meeting.

Airlines end legal challenge to UK quarantine policy
Business

Airlines end legal challenge to UK quarantine policy

By Alistair Smout LONDON (Reuters) - Three of Europe's biggest airlines said on Friday they would end a legal challenge against the British government after it scrapped its quarantine rule for travellers coming from some of the most popular tourist destinations. The government said the policy would be ended for English holidaymakers to countries such as France, Spain and Italy, although it would be maintained for the United States.

Mass testing at JBS, BRF plants in Center West Brazil town reveals more than 1,000 COVID-19 cases
Business

Mass testing at JBS, BRF plants in Center West Brazil town reveals more than 1,000 COVID-19 cases

By Ana Mano SAO PAULO (Reuters) - Mass testing of food industry workers revealed an outbreak of novel coronavirus infections at plants operated by JBS SA and rival BRF SA in the Center West of Brazil, labor prosecutors in Mato Grosso do Sul state told Reuters on Friday, citing company data. Some 1,075 people at a JBS pork plant tested positive for COVID-19 as of July 1, representing 30% of total tests processed at its Dourados plant, the data revealed. Some 73 workers tested positive at a BRF chicken facility in the same town, where BRF has around 1,500 employees.

Ryanair flight makes emergency landing in Greece after reporting fire
Business

Ryanair flight makes emergency landing in Greece after reporting fire

ATHENS (Reuters) - A Ryanair flight with 164 people on board made an emergency landing at Thessaloniki airport on Friday after reporting a fire, Greek authorities said. The flight from Berlin to Athens issued a distress signal and sought permission to make an emergency landing while flying over the Halkidiki region of Greece, the civil protection ministry said. Emergency protocols were deployed and the aircraft landed safely at Thessaloniki's Macedonia airport, where 157 ticketed passengers, an infant and six members of the crew disembarked, it said.

South Africa's Capitec forecasts 70% profit fall in blow to shares
Business

South Africa's Capitec forecasts 70% profit fall in blow to shares

(Reuters) - Capitec Bank forecast a fall of at least 70% in first-half earnings on Friday due to a spike in bad loans from the coronavirus crisis, the first major South African lender to detail its full effect. Concerns over a jump in bad loans after a nationwide lockdown to contain the coronavirus have hit South African banks and Capitec's shares, which were already down 42% so far this year, were 2.5% lower at 1359 GMT. Capitec, which had forecast a drop of at least 20% in first-half profit in May, said it expects headline earnings per share, the main profit measure for South African firms, to fall by more than 1,782 cents from the 2,545 cents it reported for the six months to the end of August 2019

Turkish suspect tells court Ghosn mused on Hollywood movie of escape from Japan
Business

Turkish suspect tells court Ghosn mused on Hollywood movie of escape from Japan

By Ezgi Erkoyun ISTANBUL (Reuters) - A Turkish jet executive on trial over Carlos Ghosn's dramatic escape from Japan told a court on Friday that the former Nissan boss spoke about Hollywood making a movie of his getaway as he flew in a private jet to Beirut. Ghosn, once a leading light of the global car industry, was arrested in Japan in late 2018 and charged with underreporting his salary and using company funds for personal purposes, charges he denies

Oil falls below $43/bbl on virus fears, still heads for weekly gain
Business

Oil falls below $43/bbl on virus fears, still heads for weekly gain

By Alex Lawler LONDON (Reuters) - Oil fell below $43 a barrel on Friday as a resurgence of coronavirus cases raised concern that fuel demand growth could stall, although crude was still headed for a weekly gain on lower supply and wider signs of economic recovery. The United States reported more than 55,000 new coronavirus cases on Thursday, a new daily global record for the pandemic.

Russia temporarily halts parts of Nornickel power unit after fuel spill
Business

Russia temporarily halts parts of Nornickel power unit after fuel spill

MOSCOW (Reuters) - Russia's safety watchdog on Friday ordered NTEK, a power unit of mining giant Norilsk Nickel, to suspend operations at six facilities for 90 days for violating safety rules, following a fuel spill in the Arctic. A fuel tank lost pressure on May 29 and released 21,000 tonnes of diesel into rivers and subsoil near the city of Norilsk, an incident that Greenpeace has compared to the devastating 1989 Exxon Valdez oil spill off Alaska. Nornickel said the requested changes to improve safety by the Rostekhnadzor watchdog were already in its working plan to prepare for the winter season in the Norilsk region.

Daimler seeks to sell French factory in production overhaul
Business

Daimler seeks to sell French factory in production overhaul

FRANKFURT/PARIS (Reuters) - Daimler will seek to sell its factory in Hambach, France, as part of an overhaul of its production system, the German carmaker said on Friday, prompting France's finance minister to urge the company to reconsider.

Canada's biggest banks join boycott of Facebook platforms
Business

Canada's biggest banks join boycott of Facebook platforms

By Nichola Saminather TORONTO (Reuters) - Canada's biggest lenders confirmed on Friday they had joined a widespread boycott of Facebook Inc begun by U.S. civil rights groups seeking to pressure the world's largest social media platform to take concrete steps to block hate speech. More than 400 brands have pulled advertising on Facebook in response to the "Stop Hate for Profit" campaign, begun after the death of George Floyd, a Black man who died in police custody in Minneapolis on May 25.

Major Qiagen shareholder demands higher bid from Thermo Fisher - source
Business

Major Qiagen shareholder demands higher bid from Thermo Fisher - source

ZURICH (Reuters) - The coronavirus pandemic has boosted Qiagen's prospects and a takeover by Thermo Fisher no longer makes sense unless the offer is increased substantially, one of the German genetic test maker's top ten shareholders told Reuters on Friday. Thermo Fisher agreed in early March to buy Qiagen for $11.5 billion as the U.S.-based company looks to bolster its health diagnostic business.

Rolls-Royce reviewing balance sheet options after COVID-19 hit
Business

Rolls-Royce reviewing balance sheet options after COVID-19 hit

LONDON (Reuters) - British aerospace engineer Rolls-Royce said on Friday it was reviewing a range of options to strengthen its balance sheet and position itself for recovery after the COVID-19 pandemic. "We confirm we are in the early stages of reviewing a range of potential options," the company said in a statement in response to a Bloomberg report. "However, no decisions have been made." The Bloomberg report said Rolls was examining options including raising equity and disposals, with the sale of its ITP Aero unit one disposal being studied.

Traffic at India's major ports falls 20% in June quarter due to lockdowns
Business

Traffic at India's major ports falls 20% in June quarter due to lockdowns

By Sudarshan Varadhan CHENNAI (Reuters) - Major ports in India, which handle more than half of the country's seaborne trade, had a nearly 20% fall in traffic during the quarter ended June, the Indian Ports Association (IPA) said, as coronavirus lockdowns slowed economic activity. India's twelve state-run major ports handled 141.9 million tonnes of shipments in the quarter ended June 30, compared with 176.7 million tonnes the previous year, the IPA data showed.

Global Markets: COVID recovery vs COVID reality
Business

Global Markets: COVID recovery vs COVID reality

By Marc Jones LONDON (Reuters) - World shares stalled near a four-month high on Friday and the industrial bellwether metal copper scuffed its longest weekly winning streak in nearly three years, as nagging coronavirus nerves tempered the recent recovery run. The market rally, fuelled by Thursday's record U.S.

Ukraine central bank chief: I quit over smears and pressure to take bad decisions
Business

Ukraine central bank chief: I quit over smears and pressure to take bad decisions

By Natalia Zinets KYIV (Reuters) - Ukrainian Central Bank Governor Yakiv Smoliy said on Friday he had quit to register a protest against sustained pressure from the government and politicians to take policy decisions that were not based on economics. Speaking minutes before parliament voted to approve his resignation, Smoliy said the National Bank of Ukraine (NBU) had been pressured to cut interest rates, let inflation rise and the hryvnia lose value. He also complained of smear campaigns against him and other central bank employees, paid rallies outside the bank and pressure being exerted on courts where the central bank was involved in legal cases