A defacto lockdown in the United States has lasted longer than expected despite a rollback in some restrictions on mobility, pointing to a deeper-than-expected contraction in gross domestic product in the second quarter, the IMF said on Thursday.
State oil giant Saudi Aramco started laying off hundreds of employees this month, two sources familiar with the matter said, as global energy companies reduce their workforces in response to the coronavirus crisis.
Retail foot traffic recovered to approach pre-lockdown levels last week and businesses appeared to bring more employees back to the job, according to data from firms that collect cellphone location information and manage employee time for companies.
Italian luxury brand Valentino and Internet giant Amazon have filed a joint lawsuit against New York-based Kaitlyn Pan Group for allegedly counterfeiting Valentino's shoes and offering them for sale online.
Markus Duesmann, the head of Audi , will also head the research and development division at German carmaker Volkswagen's premium brand, two sources told Reuters on Thursday.
Prudential sold a minority stake in its U.S. business, Jackson, to Apollo Global-backed Athene Holding for US$500 million, the insurer said on Thursday, in the first phase of its plan to create an independent U.S. business.
Podcasts featuring Batman, Wonder Woman and Superman will soon stream on Spotify as the Swedish music streaming company has signed a deal with AT&T Inc's Warner Bros and DC Entertainment.
PARIS: Failure to work towards an international deal on taxing big digital companies could trigger a dangerous trade war, the OECD said on Thursday, urging countries to remain engaged in talks after Washington announced it was pulling out of them for now. "Absent a multilateral solution, more ...
Colgate-Palmolive on Thursday said it was working to review and evolve its Chinese toothpaste brand, Darlie, the latest in a string of brand reassessments amid a U.S. debate on racial inequality.
U.S. investors have ramped up investments in growth funds over the past few months on expectations of higher returns and safety, while they dumped value funds despite cheaper prices after this year's pandemic-linked selloff.
