Business

Oil prices rise 2% on optimism around OPEC+ output pact

Oil prices rose more than 2% on Monday as signs that fuel demand was recovering, while OPEC+ members were complying with a production cut deal, outweighed fears that new coronavirus infections could further slow the global economy. U.S. West Texas Intermediate crude rose 86 cents, or 2.4%, to settle at $37.12 a barrel. Brent crude […]

Business

Stocks rebound on Fed debt program, oil recovers

A gauge of global equities rebounded on Monday after the Federal Reserve widened its program of buying corporate debt, while crude oil rose on signs fuel demand is recovering and as investors grapple with how to assess the economic reopening. Stocks jumped after the Fed said its secondary market corporate credit facility would now include […]

Business

JPMorgan to bring back more traders to office next week

JPMorgan Chase & Co (JPM.N) plans to start returning more traders and sales staff to its Manhattan headquarters starting next week with volunteers, a source familiar with the matter said on Monday.Roughly 20% of the bank’s sales and trading staff have worked at its New York office throughout the coronavirus pandemic. Starting on June 22, […]

Business

Apple-backed study sheds light on physical sales through App Store

Apple Inc on Monday released the results of a study that found its App Store spurred $458 billion in sales last year from categories such as retail of physical goods, ride-hailing and advertising from which the iPhone maker takes no commission. The study, backed by Apple, marks the first time the company has sought to […]

Business

NYSE to reopen trading floor to some market makers on Wednesday

The New York Stock Exchange will allow a limited number of market makers to return to its trading floor on Wednesday, nearly three months after closing it due to the coronavirus pandemic. More designated market makers, who oversee trading in the exchange’s 2,200 listed companies, will be permitted to come back this week, adding to […]

Business

Proxy adviser ISS opposes re-election of Tesla chairwoman

Proxy adviser Institutional Shareholder Services Inc (ISS) on Monday urged Tesla Inc (TSLA.O) shareholders to vote against the re-election of chairwoman Robyn Denholm at the electric carmaker’s annual meeting next month. The firm expressed concerns over Denholm’s leadership, citing consecutive years of high compensation for directors, without a reasonable rationale, and a steep rise in […]