Business News
Dollar gains, yuan slumps on rising Hong Kong tensions
The dollar edged higher on Wednesday as worries about the U.S. response to China’s proposed security law for Hong Kong supported safe-haven demand for the greenback.
Month: May 2020
Business News
China’s GAC keeps target of 3% sales growth despite coronavirus pressure
Chinese automaker GAC , which has partnered with Toyota , Honda and FCA , will stick to an annual target of 3% in sales growth this year despite fallout from the coronavirus pandemic, its chairman said.
Business News
Asian shares slip as new Hong Kong tensions rise
Asian shares slipped on Wednesday as investor concerns about rising tensions between the United States and China tempered optimism about a re-opening of the world economy.
Business News
Ford sets May 28 as provisional date for gradual restart of Mexican plant
U.S. automaker Ford has set May 28 as a provisional date for the gradual restart of its plant in Hermosillo, Mexico, according to a letter to workers seen by Reuters.
Trading Ideas
Boeing set to announce significant U.S. job cuts this week – union
Boeing Co is expected to announce U.S. job cuts this week after disclosing last month it planned to shed 10% of its worldwide workforce of 160,000 employees, people briefed on the plans and a union said. A spokesman for the Society of Professional Engineering Employees in Aerospace (SPEEA) union that represents 17,600 Boeing employees told Reuters Tuesday the company informed the union it should expect layoff notices on Friday. Boeing declined to comment. …read more […]
Business News
Boeing set to announce significant U.S. job cuts this week: union
Boeing Co is expected to announce U.S. job cuts this week after disclosing last month it planned to shed 10% of its worldwide workforce of 160,000 employees, people briefed on the plans and a union said.
Trading Ideas
Amazon in Talks to Buy Autonomous Vehicle Startup Zoox
(Bloomberg) — Amazon.com Inc. is in talks to buy driverless vehicle startup Zoox Inc., according to people familiar with the matter, a deal that would accelerate the e-commerce giant’s automation efforts.Other companies in the automotive and chip industries have also held talks with Zoox about a potential investment, the people said. At least one other business besides Amazon has offered to buy the company, they added. Zoox is unlikely to sell for less than the $1 billion that it has already raised, according to the people, who asked not to be identified discussing private negotiations.“Zoox has been receiving interest in …read more […]
Business News
Oil slips on demand worries, Hong Kong tensions
Oil prices fell on Wednesday on revived concerns over how quickly fuel demand will recover even as coronavirus lockdowns begin to ease in many countries, while U.S.-China tensions added to negative sentiment.
Business News
Dollar edges higher as U.S.-China worries resurface
The dollar edged higher on Wednesday as worries about the U.S. response to China’s proposed security law for Hong Kong supported safe-haven demand for the greenback.
Business News
Amazon in advanced talks to buy self-driving startup Zoox: WSJ
Amazon.com Inc is in advanced talks to buy self-driving startup Zoox Inc, in a move that would expand the e-commerce giant’s reach in autonomous-vehicle technology, the Wall Street Journal reported https://on.wsj.com/36wXJUV on Tuesday.
Business News
Asian stocks pull back as Hong Kong uncertainty weighs
Asian shares shed some of their recent gains on Wednesday as investor concerns about rising tensions between the United States and China tempered optimism about a re-opening of the world economy.
Trading Ideas
Oil Halts Rally Near $34 on Signs Russia May Ease Supply Cuts
(Bloomberg) — Oil slipped from the highest settlement in 11 weeks on signs Russia was planning to start easing supply cuts from July, while tensions between the U.S. and China escalated amid the specter of sanctions.Futures fell 1.1% in New York after closing above $34 a barrel for the first time since March. Moscow is determined to scale back curbs in line with the OPEC+ agreement, according to people familiar with the matter, but a spokesman for President Vladimir Putin said that Russia would analyze the market before making a decision. Meanwhile, U.S.-China relations are back in the spotlight as …read more […]
Business News
Oil falls on demand concerns, U.S.-China tensions
Oil prices fell on Wednesday on concerns over how quickly fuel demand will recover even as lockdowns ease in many countries with falling coronavirus cases, with U.S.-China tensions adding to pressure.
Business News
World economic prospects darken, rebound delayed: Reuters poll
Economic prospects for the developed world this year have darkened again in the past month as the coronavirus pandemic has rolled from Asia to the Americas, with a V-shaped sharp recovery expected by less than one-fifth of economists polled by Reuters.
Trading Ideas
Hedge Funds Have Never Been This Bullish On DexCom, Inc. (DXCM)
Insider Monkey has processed numerous 13F filings of hedge funds and successful value investors to create an extensive database of hedge fund holdings. The 13F filings show the hedge funds’ and successful investors’ positions as of the end of the first quarter. You can find articles about an individual hedge fund’s trades on numerous financial […] …read more […]