Business News
A Florida toy importer braces for retail upheaval
Most U.S. states have begun to reopen their economies, but Jay Foreman, chief executive of Basic Fun, said he’s more worried than ever.
Month: May 2020
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Why the stock market is outperforming the economy: Morning Brief
Top news and what to watch in the markets on Tuesday, May 26, 2020. …read more […]
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The Bond Market Thinks It Knows What’s Coming Next From the Fed
(Bloomberg) — The Federal Reserve has already unleashed a barrage of new policies to keep the economy out of depression. Investors reckon it’s lining up another one.The Fed’s version of the strategy known as yield-curve control is expected to involve capping yields on government bonds of a chosen maturity -– by buying however much it takes. For central banks that already cut short-term interest rates to zero, it’s a way to signal that they’ll stay low for an extended period, while helping pin down longer-term borrowing costs too.Japan has been doing this for years, and Australia adopted the idea in …read more […]
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Business News
Israel taps local desalination firm IDE over Hong Kong rival
Israel on Tuesday chose local company IDE Technologies over a Chinese-linked rival to build the country’s largest desalination plant to tackle water shortages in one of the driest parts of the world.
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New York Stock Exchange Floor Reopens, but Not as You Know It
The New York Stock Exchange trading floor reopens on Tuesday with strict new rules. WSJ’s Mark Garrison explains what’s at stake for traders as they return to work at one of the world’s last remaining trading floors during the pandemic. Photo: NYSE …read more […]
Business News
World shares reach 10-week high, S&P 500 eyeing 3000
World shares forged ahead on Tuesday and commodity markets drove higher as well, as investors disregarded Sino-U.S. tensions to focus on more stimulus in China and a re-opening world economy.
Business News
Oil prices climb as faith in supply cuts grows
Oil prices rose on Tuesday, supported by growing confidence that producers are following through on commitments to cut crude supplies while fuel demand picks up with more cars back on the road as coronavirus lockdowns ease.
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Strong Opportunities in Australian Corporate Credit Market, QIC Says
May.26 — QIC Director of Fixed Income & Absolute Return Beverley Morris says she continues to see strong opportunities in the Australian corporate credit market. She was speaking with Haslinda Amin and Yvonne Man on “Bloomberg Markets: Asia.” …read more […]
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Latam Airlines Files For Chapter 11 Bankruptcy Protection In U.S.
Latam Airlines Group S.A. (LTM) and its affiliates in Chile, Peru, Colombia, Ecuador and the U.S. have filed for Chapter 11 bankruptcy protection due to the impact of the coronavirus pandemic on the global aviation industry.The Latin American airline said that it has secured up to $900 million in financing from the Cueto and Amaro families and Qatar Airways, two of its largest shareholders. As of the Chapter 11 filing, the group had about $1.3 billion in cash on hand.During the debt restructuring process, Latam and its affiliates will continue flying as conditions permit, the airline said.Commercial airline travel has …read more […]
Business News
Lufthansa unit Eurowings to cut a third of head-office staff
Eurowings, the low-cost airline owned by Lufthansa , said it would cut a third of the jobs at its headquarters as part of wider efforts to return the German airline group to profitability after a major state bailout.
Business News
Uber cuts 600 jobs in India as lockdown hits business
Uber Technologies Inc will cut around 600 jobs in India as part of its plans to cut 23% of its global workforce, as the company navigates a lockdown that has brought businesses in the country to a grinding halt.
Business News
U.S. stock futures rise 2% to 3,012 points
U.S. stock futures rose 2% on Tuesday and breached a major chart barrier as investors brushed aside China-U.S. trade tension and braced for a re-opening of the world economy.
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Tencent to invest $70 billion in 'new infrastructure'
Chinese tech giant Tencent Holdings will invest 500 billion yuan ($70 billion) over the next five years in technology infrastructure including cloud computing, artificial intelligence and cybersecurity, the company said Tuesday. The announcement comes after call by Beijing last month for a tech-driven structural upgrade of the world’s second-largest economy through investment in “new infrastructure” and a boom in demand for business software and cloud services. Other key sectors of the investment include blockchain, servers, big data centres, supercomputer centres, internet of things operating systems, 5G networks and quantum computing, Dowson Tong, senior executive vice president of …read more […]
Business News
Tencent to invest $70 billion in ‘new infrastructure’
Chinese tech giant Tencent Holdings will invest 500 billion yuan ($70 billion) over the next five years in technology infrastructure including cloud computing, artificial intelligence and cybersecurity, the company said Tuesday.