Business & Financial News, U.S & International Breaking News

Stocks gained modestly on Monday after a survey showed German business morale rebounded in May, while investors kept a close eye on escalating U.S.-China tensions in a thin trading session.

Russian prosecutors asked a court on Monday to sentence former U.S. Marine Paul Whelan, who is on trial accused of spying for the United States, to 18 years in a maximum security prison, his lawyer said.

The first of five Iranian tankers carrying fuel to Venezuela has moored at a port serving the South American country's El Palito refinery, the nation's oil minister said Monday, and Refinitiv Eikon data showed a second vessel had entered its waters.

European countries need to join forces to shield their banks from the coronavirus outbreak, one of the bloc's top regulators said on Monday, potentially using a 500 billion euro ($545 billion) EU recovery fund to do so.

Japanese Prime Minister Shinzo Abe lifted a state of emergency for Tokyo and four remaining areas on Monday after the number of infections fell across the country, but warned that it could be reimposed if the virus started spreading again.

The German government and the management of flagship carrier Lufthansa , which has been hit hard by the coronavirus pandemic, have reached a preliminary deal on a 9 billion euro ($9.8 billion) bailout, two people close to the matter said.