Category: Business

Amazon.com Inc said on Monday its founder and Chief Executive Jeff Bezos was willing to testify to a congressional panel investigating potential violations of U.S. antitrust law by big technology companies. The company’s attorney sent a letter to members of the House Judiciary Committee, saying Amazon had cooperated with the probe. “This includes making Jeff […]

Unilever Plc (ULVR.L) said on Monday it will invest 1 billion euros in a fund to invest in climate change projects and reduce to net zero greenhouse gas emissions from all its products by 2039, 11 years ahead of the Paris Agreement deadline. Unilever, the Anglo-Dutch consumer products company whose brands include Dove soap and […]

Stock market gains have further to run and investors are still under-pricing the scale of the world’s coronavirus recovery, investment bank Morgan Stanley (MS.N) said in an outlook note. “While the last four months have been exceptional, we think that this cycle has been, and will be, more ‘normal’ than appreciated,” said Andrew Sheets, the […]

Dutch Tata Steel (TISC.NS) employees held further strike actions on Monday to protest against job cuts planned as part of a broader restructuring, the FNV union said. A strike by workers on the nightshift, which started on Sunday at 2000 GMT, caused the entire production of packaging steel at Tata’s IJmuiden plant to come to […]

China’s factories stepped up production for a second straight month in May, as the country shook off the economic torpor of the coronavirus, although the weaker-than-expected gain suggested the recovery remained fragile. Patchy data on Monday also showed sustained contractions in retail sales and investment, a sign many sectors were still struggling with the effects […]

Hertz Global Holdings Inc said it won bankruptcy court approval on Friday to sell up to $1 billion in stock, capitalizing on a remarkable rally in its shares driven by speculators defying conventional market wisdom. Hertz’s shares have risen 250% since June 4, even though their value is likely to be wiped out by the […]

A U.S. regulator ruled that India’s Mahindra and Mahindra Ltd infringed upon the intellectual property rights of Fiat Chrysler Automobiles NV’s (FCA) Jeep brand, barring the sale of the vehicles in question. The International Trade Commission, in a decision released late Thursday, said Mahindra’s Roxor off-road utility vehicle violated the “trade dress” of FCA’s Jeep […]