Business

Latam Airlines files for Chapter 11 bankruptcy protection

Latam Airlines files for Chapter 11 bankruptcy protection

SUMMARY: South American carrier Latam Airlines says it is seeking Chapter 11 bankruptcy protection as it grapples with the sharp downturn in air travel sparked by the coronavirus pandemic.

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Korean prosecutors question Samsung heir in succession-related probe

Korean prosecutors question Samsung heir in succession-related probe

SUMMARY: Prosecutors have been investigating suspected accounting fraud at drug company Samsung Biologics after the Korean financial watchdog complained the firm’s value had been inflated by 4.5 trillion won ($3.64 billion) in 2015.

reuters
Japan shares scale 10-week peak, S&P 500 breaks 3,000 barrier

Japan shares scale 10-week peak, S&P 500 breaks 3,000 barrier

SUMMARY: SYDNEY (Reuters) - Asian shares forged ahead on Tuesday while U.S. stock futures breached a major chart barrier as investors looked past Sino-U.S. trade tensions to more stimulus in China and a re-opening world economy.

reuters
'This could be the one that gets me,' says oilfield service veteran

'This could be the one that gets me,' says oilfield service veteran

SUMMARY: REUTERS/Angus MordantA third-generation employee, Harris rose through the ranks at the top shale-oil services provider to oversee oilfield crews.

reuters
Uber-rival Bolt raises 100 million euros

Uber-rival Bolt raises 100 million euros

SUMMARY: REUTERS/Ints KalninsTALLINN (Reuters) - Ride-hailing service Bolt said on Tuesday it has raised 100 million euros ($109 million) from London-based investment firm Naya Capital Management in a deal valuing the European rival of Uber at 1.7 billion euros.

reuters
Chile's LATAM Airlines files for U.S. Chapter 11 bankruptcy protection

Chile's LATAM Airlines files for U.S. Chapter 11 bankruptcy protection

SUMMARY: FILE PHOTO: The logo of LATAM Airlines is pictured on an Airbus plane in Colomiers near Toulouse, France, November 6, 2018.

reuters
Oil prices rise on supply cut hopes, easing of coronavirus lockdowns

Oil prices rise on supply cut hopes, easing of coronavirus lockdowns

SUMMARY: MELBOURNE/SINGAPORE (Reuters) - Oil prices climbed on Tuesday, boosted by increasing faith in the market that producers will to stick to commitments to cut crude supply while demand picks up with more cars back on the road as coronavirus lockdowns are eased around the world.

reuters
Exclusive: Cathay Pacific's brand merger hits roadblock from China's aviation regulator - sources

Exclusive: Cathay Pacific's brand merger hits roadblock from China's aviation regulator - sources

SUMMARY: SYDNEY (Reuters) - China’s aviation regulator may make it difficult for Hong Kong’s Cathay Pacific Airways Ltd (0293.HK) to merge regional arm Cathay Dragon into its main brand because of infractions during last year’s pro-democracy protests, two sources said.

reuters
George R.R. Martin joins group to buy historic railway

George R.R. Martin joins group to buy historic railway

SUMMARY: SANTA FE, N.M. — George R.R.

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Congress weighs choice: 'Go big' on virus aid or hit 'pause'

Congress weighs choice: 'Go big' on virus aid or hit 'pause'

SUMMARY: WASHINGTON — Congress is at a crossroads in the coronavirus crisis, wrestling over whether to "go big," as House Speaker Nancy Pelosi wants for the next relief bill, or hit "pause," as Senate Majority Leader Mitch McConnell insists.

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Franco-German plan for European recovery will face compromises

Franco-German plan for European recovery will face compromises

SUMMARY: Macron-Merkel plan to borrow on behalf of EU to help worst-hit countries is already being challenged by ‘frugal four’When France and Germany announced a plan to raise €500bn (£448bn) on financial markets to fund a European coronavirus recovery plan, leaders sought to underscore the magnitude of the moment.

the guardian
Coronavirus: New York Stock Exchange trading floor to reopen

Coronavirus: New York Stock Exchange trading floor to reopen

SUMMARY: Image copyright ReutersThe New York Stock Exchange (NYSE) is set to reopen its trading floor on Tuesday after a two-month closure due to the coronavirus pandemic.

bbc
Daimler to invest in Chinese EV battery maker Farasis' $480 million IPO: sources

Daimler to invest in Chinese EV battery maker Farasis' $480 million IPO: sources

SUMMARY: The two firms struck a deal last year for Farasis to supply Daimler with lithium-ion battery cells and Farasis is building a factory in Germany.

reuters
Walmart's Mexico unit pays scaled-down tax of $358 million after government talks

Walmart's Mexico unit pays scaled-down tax of $358 million after government talks

SUMMARY: MEXICO CITY (Reuters) - Walmart de Mexico paid $358 million in taxes after talks with the Mexican government over an even larger sum authorities had aimed to charge the retailer for the sale of a restaurant chain, the company said on Monday.

reuters
Worker shortage concerns loom in immigrant-heavy meatpacking

Worker shortage concerns loom in immigrant-heavy meatpacking

SUMMARY: Lacking English skills, the brothers took jobs at Smithfield Foods' Sioux Falls pork plant, grueling and increasingly risky work as the coronavirus sickened thousands of meatpacking workers nationwide.

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Chile's Latam Airlines Group hires PJT Partners to restructure debt: report

Chile's Latam Airlines Group hires PJT Partners to restructure debt: report

SUMMARY: FILE PHOTO: LATAM airlines logo, is seen inside of the Commodore Arturo Merino Benitez International Airport in Santiago, Chile April 25, 2019.

reuters
Coronavirus hit meat plants just as workers were being asked to speed up

Coronavirus hit meat plants just as workers were being asked to speed up

SUMMARY: And the agency late last year approved an inspection system that would let pork plants abolish line-speed limits — now set at 1,106 hogs an hour — altogether.

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Virgin Orbit: Richard Branson's rocket fails on maiden flight

Virgin Orbit: Richard Branson's rocket fails on maiden flight

SUMMARY: Sir Richard Branson's Virgin Orbit rocket has failed to launch a test satellite into space on its maiden voyage.

sky news
Coronavirus: Lufthansa agrees €9bn rescue deal with Germany

Coronavirus: Lufthansa agrees €9bn rescue deal with Germany

SUMMARY: Image copyright DeFodi Images / Getty ImagesLufthansa has agreed a rescue deal worth €9bn (£8bn) with the German government that saves it from collapse.

bbc
Coronavirus: All non-essential shops to reopen from 15 June - PM

Coronavirus: All non-essential shops to reopen from 15 June - PM

SUMMARY: Image copyright Getty ImagesAll non-essential retailers will be able to reopen in England from 15 June, Boris Johnson has announced, as part of plans to further ease the lockdown.

bbc