(Reuters) - American Airlines on Sunday said it would cancel around 1% of its flights in July to serve a surprise uptick in travel demand at a time when the airline struggles with unprecedented weather and a labor shortage at some of its hubs.

FRANKFURT (Reuters) - Volkswagen's luxury sports car unit Porsche AG is setting up a joint venture with Customcells to produce high-performance batteries that will significantly reduce charging times, the company said on Sunday.

NEW YORK (Reuters) -The Federal Reserve's hawkish shift is forcing investors to reevaluate the rally in so-called value stocks, which have taken a hit in recent days after ripping higher for most of the year.

FRANKFURT (Reuters) -European Central Bank policymakers meeting this weekend made "good progress" in reshaping the ECB's strategic goals, including the role it plays in fighting climate change and a revised approach to inflation, President Christine Lagarde said on Sunday.

BRUSSELS (Reuters) -Eight banks previously excluded from syndicated debt sales backing the European Commission's up to 800-billion-euro ($950.7 billion) COVID-19 recovery fund will be allowed to take part in future issues, the EU executive said on Friday.

TOKYO (Reuters) -Sumitomo Corp shareholders on Friday rejected a proposal requiring the trading house to align its business with global climate change targets in a victory for the board over activist investors seeking more action on environmental issues.