Wall Street climbs on healthcare, tech push

05/28/20 2:59 PM

U.S. stocks rose again on Thursday, boosted by healthcare and technology stocks, as investors continued to bet on a swift recovery from the coronavirus-driven economic slump.

U.S. major airlines roll out more options to avoid staff lay-offs

05/28/20 2:53 PM

The top three U.S. airlines, hit hard by the coronavirus pandemic, are rolling out fresh programs to induce tens of thousands of employees to accept voluntary leave or early retirement in the hope of avoiding widespread furloughs in the fall, company memos show.

COVID-19 infects more than 3,000 U.S. meatpacking workers: union

05/28/20 2:48 PM

More than 3,000 U.S. meatpacking workers have tested positive for COVID-19 and at least 44 workers have died, the country's largest meatpacking union said on Thursday, reflecting an increasing toll on plant employees.

Trump set to order review of law that protects social media companies

05/28/20 2:41 PM

U.S. President Donald Trump is expected to order a review of a law that has long protected internet companies, including Twitter and Facebook, an extraordinary attempt to intervene in the media that experts said was unlikely to survive legal scrutiny.

Trump could sign order on social media companies later on Thursday: White House

05/28/20 2:41 PM

U.S. President Donald Trump could sign an executive order on social media companies later on Thursday, but the timing could change, White House Press Secretary Kayleigh MacEnany said, after Twitter urged readers to check facts in tweets sent by Trump earlier this week for the first time.

Exclusive: TikTok owner ByteDance moves to shift power out of China - sources

05/28/20 2:40 PM

TikTok's poaching of Disney's Kevin Mayer to be its CEO was just the most visible part of a broader strategy by its Chinese owner to shift its centre of power away from China at a time of rising global tensions, several people familiar with the plans said.

Renault poised to announce 15,000 layoffs worldwide: union

05/28/20 2:37 PM

French car maker Renault is poised to announce 15,000 layoffs worldwide on Friday as it unveils a turnaround plan to cope with slumping demand and excess costs, a representative for the CFDT union said after meeting with the company on Thursday.

General Electric cash flow forecast disappoints, shares fall

05/28/20 2:21 PM

General Electric expects to burn more cash than expected in the second quarter, as the industrial conglomerate struggles with weakness in its aviation business due to the coronavirus crisis, Chief Executive Officer Larry Culp said on Thursday.

New York's Cuomo says businesses can turn away people not wearing masks

05/28/20 2:21 PM

New York Governor Andrew Cuomo said he would sign an executive order on Thursday authorizing businesses to deny entry to anyone who does not wear a mask or face covering, stressing masks were critical to preventing the spread of the novel coronavirus.

Latin America grabs world spotlight for airline bankruptcies

05/28/20 2:20 PM

LATAM Airlines and Avianca Holdings survived the Great Depression, but just a few weeks of quarantines forced both companies into bankruptcy, marking Latin America as the world's top spot for airline financial ruin.