Trading Ideas
Month: May 2020
Business News
Siemens steps up cost-saving programme to tackle coronavirus downturn
German industrial company Siemens is accelerating its cost-savings programme to deal with the impact of the coronavirus pandemic, Deputy Chief Executive Roland Busch said on Friday.
Business News
Rupert Murdoch gives up bonus after News Corp post $1 billion loss
News Corp Executive Chairman Rupert Murdoch is forgoing his cash bonus for the year after the media company posted a $1 billion quarterly loss due to a write-down in the value of its Australian pay TV unit and the impact of the COVID-19 pandemic on its businesses.
Business News
Siemens sees bigger hit from coronavirus impact coming as second-quarter profit plunges
Siemens on Friday said it expected “even stronger impacts” from the coronavirus pandemic in the weeks ahead as it ditched its 2020 guidance and posted an 18% drop in industrial profit during its second quarter.
Business News
Explainer: Why Friday’s U.S. jobless figures won’t capture the true state of the coronavirus economy
The U.S. economy is expected to have shed 22 million jobs in April, tripling the nationwide unemployment rate to 16%, when new government data is published Friday morning.
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Facebook and Google extend work from home to year end
The tech giants plan to re-open offices soon but will allow employees to work remotely throughout 2020. …read more […]
Business News
Great Depression-like U.S. job losses, unemployment rate expected in April
The U.S. economy likely lost a staggering 22 million jobs in April, in what would be the steepest plunge in payrolls since the Great Depression and the starkest sign yet of how the novel coronavirus pandemic is battering the world’s biggest economy.
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Gold hovers near two-week high ahead of U.S. jobs data
Lower interest rates would further weigh on bond yields and boost demand for non-yielding bullion, which hit a near two-week peak in the last session. Spot gold was steady at $1,715.23 per ounce, as of 0315 GMT, having hit its highest since April 27 at $1,721.76 in the previous session. U.S. gold futures added 0.1% to $1,727. …read more […]
Business News
Asian shares up as U.S., China trade negotiators talk
Asian shares rose on Friday as investors focused on talks between U.S. and Chinese trade officials and solid corporate earnings rather than the looming release of data expected to show the worst U.S. unemployment rate in more than 70 years.
Business News
Japan’s ANA suspends recruitment citing coronavirus fallout
ANA Holdings Inc , the operator of Japan’s top airline, said on Friday it would suspend its recruitment process at its 37 group companies due to an uncertain business climate caused by the coronavirus pandemic.
Business News
After surprise apology, Samsung heir pressed to explain family’s intentions
Samsung Group heir Jay Y. Lee’s vow to end dynastic succession at South Korea’s biggest conglomerate following three generations of family control sparked skepticism in some quarters and worry in others for the future of the country’s corporate champions.
Business News
Top U.S., China trade officials agree to strengthen cooperation
Top U.S. and Chinese trade representatives discussed their Phase 1 trade deal on Friday with China saying they agreed to improve the atmosphere for its implementation and the United States saying both sides expected obligations to be met.
Business News
China, U.S. hold trade talks on implementation of signed phase one deal
Chinese Vice Premier Liu He, U.S. Treasury Secretary Steven Mnuchin and United States Trade Representative Robert Lighthizer held a phone call late on Thursday in which they spoke about U.S.-China trade, the U.S. government said in a statement.
Business News
Rupert Murdoch to forgo his News Corp annual cash bonus
News Corp Executive Chairman Rupert Murdoch will forgo his cash bonus for the current fiscal year due to the impact of COVID-19 pandemic on business, the company said on Thursday.