Business News
Volkswagen resumes deliveries of Golf 8 after software fix
Volkswagen is resuming deliveries of its Golf 8 model after fixing a software glitch, a spokesman said on Thursday.
Month: June 2020
Business News
Wall Street Week Ahead: Bond investors look for Fed to justify steepening yield curve
Expectations that the global economy has dodged the worst-case scenarios for the coronavirus pandemic have led to a dramatic selloff in U.S. government bonds from their record highs, pushing the yield curve to its steepest level since March.
Business News
U.S. to revise Chinese passenger airline ban: sources
The U.S. Transportation Department plans to issue a revised order in the coming days that is likely to allow some Chinese passenger airline flights to continue, government and airline officials said.
Business News
Exclusive: Pompeo to urge stock exchanges globally to tighten rules for Chinese companies
U.S. Secretary of State Mike Pompeo is set warn American investors on Thursday against ‘fraudulent’ accounting practices of China-based companies, and suggest the Nasdaq’s recent decision to tighten listing rules for such players should be a model for all other exchanges around the world.
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ZoomInfo CEO breaks down future plans as company soars in public debut
ZoomInfo shares soar in its public debut. ZoomInfo CEO Henry Schuck joins Yahoo Finance’s On the Move to weigh in on the company’s future plans. …read more […]
Business News
America’s billionaire wealth jumps by over half a trillion during COVID-19 pandemic: report
The combined wealth of America’s billionaires, including Amazon.com Inc founder Jeff Bezos and Facebook Inc CEO Mark Zuckerberg, jumped over 19% or by half a trillion since the onset of the COVID-19 pandemic in the United States, according to a report published by the Institute for Policy Studies (IPS).
Business News
Germany rebuffs gasoline auto lobby with radical electric plan
Germany has become the second major European economy to use a multi-billion-euro recovery plan to spur clean driving, with incentives for electric cars that should boost Volkswagen and Tesla , while polluting SUVs face higher taxes.
Business News
FCA to face checks, sanctions on state-backed loan
Fiat Chrysler will file regular reports on its use of a multi-billion euro state-backed loan which Italy is set to approve soon and will face sanctions if it does not respect commitments attached to the package, the economy minister said.
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Oil Traders Ask Why U.S. Inventory Math Isn’t Adding Up
(Bloomberg) — Oil traders and analysts scrutinizing U.S. inventory data for signs of a market recovery are being confronted by an odd situation: the math just doesn’t add up.Various government data sets including stockpiles, production, imports and exports are signaling that current official figures on at least some supplies are excessive. While it’s unclear where exactly the discrepancy lies, the difference could potentially signal a more bullish outlook for crude prices as they claw their way back after diving below zero in April.The excess is showing up in the U.S. Energy Information Administration’s so-called crude supply adjustment factor — the …read more […]
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American Airlines soars on news it will boost U.S. flights in July
American Airlines Group Inc shares jumped by 25% after it said Thursday it will significantly boost its U.S. flight schedule next month after dramatic reductions caused by the coronavirus pandemic, flying more than 55% of its July 2019 domestic capacity. American shares, up 24.6% to $14.77 on the bullish announcement, are still down more than 50% since mid-February. The airline, the largest U.S. carrier, will also boost its international flights schedule next month, flying nearly 20% of its July 2019 schedule. …read more […]
Business News
ECB gives another shot of stimulus as economy reels
The European Central Bank approved a bigger-than-expected expansion of its stimulus package on Thursday to prop up an economy plunged by the coronavirus pandemic into its worst recession since World War Two.
Business News
ECB policymakers debated 500-750 billion euros package before compromise, sources say
European Central Bank policymakers debated expanding their pandemic-fighting programme by between 500 billion euros ($566 billion) and 750 billion euros on Thursday before settling for a compromise figure, three sources told Reuters.
Business News
ECB sees big 2020 recession, partial rebound next year
The European Central Bank expects the euro zone to suffer a deep recession this year, with losses only partly made up in 2021 as pandemic-related restrictions weigh on output for an extended period.