Asian equities markets rallied on Tuesday as investors bet the U.S Federal Reserve’s promise of unlimited dollar funding would ease painful strains in financial markets even if it could not stop the economic hit of the coronavirus epidemic.
Softbank, the giant Japanese investment group that has made huge bets on the sharing economy, is looking to cut its stake in Alibaba, according to reports. And possibly in Sprint too.On Monday, Masayoshi Son, founder and CEO of the heavily indebted Softbank, said that he would raise or monetize $41 billion of assets, in order to put the group on a sounder financial footing. The company did not specify which assets are to be sold.On Tuesday, Bloomberg reported that more than a third of the total would be raised by selling a $14 billion tranche of shares in Chinese e-commerce …read more […]
As airlines idle thousands of aircraft for which there are no passengers, they are hitting an unprecedented problem: finding a place to park them.
SINGAPORE/MELBOURNE (Reuters) – Oil prices rose on Tuesday on hopes that the United States will reach a deal soon on a $2 trillion coronavirus aid package which could blunt the economic impact of the outbreak and in turn support oil demand. Brent crude oil futures for May delivery rose by 62 cents, or 2.3%, to $27.65 a barrel by 0346 GMT while West Texas Intermediate (WTI) crude futures gained 76 cents, or 3.3%, to $24.12. “Oil is clawing its way higher mainly on the back of the weaker dollar that stemmed from the Fed’s unprecedented measures,” said Edward …read more […]
Oil prices rose on Tuesday on hopes that the United States will reach a deal soon on a $2 trillion coronavirus aid package which could blunt the economic impact of the outbreak and in turn support oil demand.
U.S. crude oil futures climbed nearly 3% on Tuesday in light trading as the Trump administration launched an effort to work with Saudi Arabia to stabilise oil prices.
(Bloomberg) — Gold extended a surge toward $1,600 an ounce after the Federal Reserve took unprecedented measures to protect the U.S. economy from the coronavirus shock, with Goldman Sachs Group Inc. saying bullion’s probably at an inflection point and it is time to buy.The precious metal jumped, rallying with risk assets, after the U.S. central bank said on Monday it would buy unlimited amounts of Treasury bonds and mortgage-backed securities to keep borrowing costs low. The Fed also set up programs to ensure credit flows to corporations as well as state governments.The traditional haven is seeing a resurgence after declining …read more […]
(Bloomberg) — Oil rallied for a second day after the Federal Reserve unveiled a sweeping set of measures to support the world’s largest economy, while investors clung to hopes of a U.S.-Saudi Arabian deal to limit output.Futures in New York rose around 5% past $24 a barrel, following gains on Monday as the U.S. central bank said it would buy unlimited amounts of Treasury bonds and mortgage-backed securities and also set up programs to ensure credit flows to corporations as well as state and local governments. The Fed action came as a U.S. fiscal rescue package remains stalled.Meanwhile, U.S. Energy …read more […]
(Bloomberg) — The $16 trillion U.S. mortgage market — epicenter of the last global financial crisis — is suddenly experiencing its worst turmoil in more than a decade, setting off alarms across the financial industry and prompting the Federal Reserve to intervene.Unlike last time, risky mortgages aren’t the cause. Instead, the coronavirus pandemic is threatening to make good loans go bad — and simultaneously sapping the market’s funding. There are fears that government efforts to shore up borrowers and financing won’t be enough and that mortgage and property investors again face massive losses.Measures to slow the spread of the deadly …read more […]
At Lazada, the Southeast Asian arm of Alibaba Group Holding , staff are furious over demands they submit health reports daily and other coronavirus-prevention steps seen as too invasive, highlighting a long-running culture clash with management from China.
The pandemic is taking its toll on aerospace manufacturing, as Boeing Co announced it would halt production of most widebody jets and Airbus SE restarted only partial output after a four-day shutdown as suppliers cut jobs.
Asian stocks rebounded sharply on Tuesday as the U.S. Federal Reserve’s promise of bottomless dollar funding eased painful strains in financial markets, even if it could not soften the immediate economic hit of the coronavirus.
Residents of a Mexican city on the U.S. border voted against completing a billion-dollar brewery being built by Constellation Brands Inc, the government said Monday, dealing a fresh blow to investor confidence under President Andres Manuel Lopez Obrador.
SoftBank Group Corp stock jumped 20% on Tuesday, extending a run that began a day earlier when the Japanese tech investor announced up to $41 billion in asset sales and a record share buyback to shore up its collapsing share price.
Democratic U.S. lawmakers on Monday proposed giving struggling U.S. airlines and contractors $40 billion in cash grants that would not have to be paid back but require significant new environmental, labor and other conditions.
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