Business

Shares of Tesla Inc surged 13% to a record high on Monday, extending their rally to over 40% in five sessions after analysts raised their price targets on the electric car maker following its strong quarterly deliveries.

EU lawmakers overwhelmingly backed a proposal on Monday to allow the European Union to retaliate more quickly in trade disputes, with a clear eye on the tariffs imposed by U.S. President Donald Trump.

Uber Technologies Inc on Monday said it would acquire Postmates Inc for $2.65 billion to expand its food delivery market share and significantly increase the business of supplying everyday goods at a time when the coronavirus has pummeled its core ride-hailing service.

U.S. services industry activity rebounded sharply in June, almost returning to its pre-COVID-19 pandemic levels, but a resurgence in coronavirus cases that has forced some restaurants and bars to close again threatens the emerging recovery.

Cruise industry rivals are teaming up in an effort to sail again.

Royal Bank of Canada is committing C$150 million ($111 million) to racial diversity initiatives and aims to increase the proportion of non-white executives to 30% from 20%, Canada's biggest lender said on Monday.