Markets

New York has charged Mallinckrodt Plc with insurance fraud for misrepresenting the safety and efficacy of its opioid drugs, leading to medically unnecessary prescriptions.

JPMorgan Chase & Co told employees on Tuesday that it is working to develop a strategy to have employees return to work in offices in phases, according to an internal memo seen by Reuters.

The U.S. energy secretary said on Tuesday he would talk with leaders in the U.S. House of Representatives later in the day and urge them to fund the purchase of crude to fill the emergency oil reserve.

French luxury goods group Kering said on Tuesday comparable sales fell by 16.4per cent in the first quarter, with its Gucci brand hit harder than its other labels due to its strong exposure to China at the start of the coronavirus outbreak.

Brent oil futures are set for extreme volatility when the front-month June contract expires next week, but they will avoid the historic plunge below zero that U.S. peer WTI has suffered, traders and analysts said.

Britain's government made a firm decision to allow China's Huawei to have a role in building the country's 5G phone network and as far as the foreign ministry's top official understands it is not being reopened, he said on Tuesday.

SINGAPORE: All migrant workers staying at dormitories will have to stop work and stop moving in and out of the dormitories until May 4. From 11.59pm on Tuesday (Apr 21), daily movement of workers in and out of all dormitories will not be allowed, the Health Ministry said. "Employers must continue...

U.S. home sales dropped by the most in nearly 4-1/2 years in March as extraordinary measures to control the spread of the novel coronavirus brought buyer traffic to a virtual standstill, supporting analysts' views that the economy contracted sharply in the first quarter.

Xerox Holdings Corp said on Tuesday it will make hand sanitizer in its factories in the United States and Canada to fight the spread of coronavirus, and start deliveries to healthcare organizations later this month.

The U.S. economic recession underway, caused by the coronavirus pandemic, will be worse than previously thought, with more economists polled by Reuters over the past week expecting a "U-shaped" recovery rather than any other option.