A California judge on Monday granted the state's request for a preliminary injunction blocking Uber Technologies Inc and Lyft Inc from classifying their drivers as independent contractors rather than employees.
China's Tencent Music Entertainment Group beat Wall Street estimates for quarterly revenue on Monday, as the company's music streaming service added more paying users during coronavirus-induced lockdowns.
The Dow jumped 1%, the S&P 500 inched up and the Nasdaq closed lower on Monday as investors extended a rotation into value stocks from heavyweight tech-related names while awaiting news on progress in a U.S. fiscal support bill.
Occidental Petroleum Corp on Monday posted its fourth straight quarterly loss as it recorded a $6.6 billion impairment charge, largely to write down the value of its oil and gas properties following a crash in crude prices.
Marriott International said on Monday it expects cash burn for the year to be slower than previous estimated as bookings slowly recover from the coronavirus lows that pushed the hotel chain to post its first quarterly loss in nearly nine years.
Oil settled higher on Monday, supported by data suggesting Chinese factories were returning to pre-pandemic levels, signs of rising energy demand and hopes for an agreement in the United States on more coronavirus-related economic stimulus.
The dollar rose on Monday, including against major currencies such as the euro and Swiss franc, as investors focused on the fiscal stimulus plan in the United States and U.S.-China tensions ahead of key trade talks this week.
Fiat Chrysler Automobiles NV (FCA) on Monday asked a U.S. federal judge to dismiss a request from General Motors Co to reinstate a racketeering lawsuit against its smaller rival, comparing a recent GM filing to a "third-rate spy movie, full of preposterous allegations."
The U.S. government will not proceed with a $765 million loan to Eastman Kodak Co to make drugs at its U.S. factories unless the company is cleared of alleged wrongdoing in circumstances surrounding the announcement of the loan, the White House said on Monday.
McDonald's has sued former CEO Stephen Easterbrook to recover his exit package after an internal investigation showed that he had sexual relationships with multiple employees, violating company policy, the fast-food chain said in a filing on Monday. Fred Katayama reports.
Shares of Eastman Kodak Company fell about 40% on Monday and were on track for their worst single-day decline after the U.S. government blocked a $765 million loan to the company, which was going to make drug ingredients for use in possible COVID-19 vaccines, because of "alleged wrongdoing" by executives. This report produced by Yahaira Jacquez.
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