Asian shares pared early losses on Thursday after Chinese exports proved far stronger than even bulls had imagined, while U.S. bond investors were still daunted by the staggering amount of new debt set to be sold in coming weeks.
The British units of Liberty Global Plc and Telefónica SA will merge in a deal worth 24 billion pounds ($29.57 billion), the Financial Times reported https://www.ft.com/content/2b73a385-7218-47dc-83bf-18e6e3d5f8f4 on Thursday.
Smithfield Foods Inc will restart its plant in Sioux Falls, South Dakota from May 7 after being idled for more than three weeks due to the coronavirus outbreak, the world’s biggest pork processor said late on Wednesday.
U.S. budget carrier Frontier Airlines withdrew on Wednesday a “More Room” policy that would have given passengers the option of paying extra to keep the middle seat empty on flights after a backlash from politicians, according to a letter to lawmakers seen by Reuters.
(Bloomberg) — Apple Inc. again commanded a majority share of the smartwatch market in the first quarter, when the Covid-19 outbreak encouraged health tracking and drove a 20% rise in shipments.Global smartwatch shipments reached 13.7 million units in the first three months of this year, defying a worldwide slump in consumer electronics arenas such as mobile phones. Apple’s share inched up a percentage point to 55.5%, according to Strategy Analytics.The Apple Watch is seen as one of the key growth drivers for the U.S. company, which has stopped detailing quarterly iPhone shipments as the smartphone market matures. Compal Electronics Inc. …read more […]
U.S. automaker Ford Motor Co’s two ventures in China have reported year-on-year sales growth for April, indicating the world’s biggest auto market has started its recovery from coronavirus-induced lows.
Oil prices rose on Thursday after U.S. inventories swelled less than expected, but market watchers predicted further gains could be capped by the ongoing glut in crude supplies as the coronavirus pandemic crushes fuel demand. U.S. oil gained 19 cents, or 0.8%, to 24.18 a barrel, after declining more than 2% in the previous session. “The latest report (on U.S. inventories) added to tentative evidence that – after a catastrophic few weeks – the pressure on the U.S. oil market is beginning to lessen,” Capital Economics said in a note. …read more […]
The United States has reached a settlement to recover more than $49 million involving Malaysian sovereign wealth fund 1MDB, the Department of Justice said.
Sinclair Broadcast Group has agreed to pay a $48 million fine to the Federal Communications Commission (FCC) resolving the probe into the company’s abandoned deal to buy Tribune Media in what the agency said was its largest-ever civil penalty.
FDA has approved 54 Emergency INDs to allow access to leronlimab for severely and critically ill COVID-19 patients VANCOUVER, Washington and WINSTON-SALEM, May 07, 2020 — CytoDyn Inc. (OTC.QB: CYDY), (“CytoDyn” or the “Company”), a […]
Asian stocks were set to come under pressure on Thursday as downbeat economic data pushed investors to safe havens and growing worries about falling demand sent oil prices lower.
(Bloomberg) — A California software company that received a federal Paycheck Protection Program loan of more than $750,000 sued the government over new guidelines attempting to restrict who can get such assistance.Zumasys Inc. said in a suit filed Monday against the Small Business Administration and Treasury Department that it is now concerned it will have to pay back the forgivable loan the company and its two subsidiaries received in mid-April, some of which has already been spent to keep nearly 70 employees on payroll.Facing criticism that much of the money intended to help small businesses weather the economic shock of …read more […]
PayPal Holdings Inc said it expects a strong recovery in payments volumes in the second quarter as social distancing drives more people to shop online, even as lockdowns start to ease, sending its shares up 8% in extended trading.
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