Economy 2126
News Corp shuts down more than 100 print titles, hundreds of jobs to go
News Corp has confirmed its plans to axe hundreds of jobs as it moves to a digital-focused future.
The Irish Times view on the economic outlook: Counting on a swift recovery
New reports from economic think tanks are valuable in trying to see through the fog of what lies ahead
Exclusive: Venezuela reaches deal with U.N. to buy food, medicine with gold - central bank
CARACAS (Reuters) - Venezuela has reached a deal with the U.N. Development Programme (UNDP) to destine part of its gold in Bank of England accounts toward the purchase of food and medicine during the coronavirus pandemic, its central bank governor said on Wednesday.
What We Are Reading Today: Playbooks and Checkbooks by Stefan Szymanski
What economic rules govern sports? How does the sports business differ from other businesses? Playbooks and Checkbooks takes a fascinating step-by-step look at the fundamental economic relationships shaping modern sports.
Some countries could be exempt from UK quarantine rules, Boris Johnson says
So-called 'air bridges' could give hope to those still dreaming of a summer holiday without having to self-isolate when they get back.
Nursing home residents warned about giving up coronavirus relief funds
Nevada Attorney General Aaron Ford is warning families to be cautious amid reports of nursing homes attempting to take coronavirus relief payments from their residents.
Walvis councillor orders businesses' closure
WALVIS Bay urban constituency councillor Knowledge Ipinge has ordered a transport company and a bank to close their premises at the town due to fears of the spread of the coronavirus.
Govt fails on buy local directive
NGHINOMENWA ERASTUS and LAZARUS AMUKESHETHE Agro-Marketing Trade Agency has challenged the government and its agencies to lead by example in implementing its directive to procure locally
State hosts forums for businesses planning to reopen
State officials have planned a series of virtual forums this week for the owners and operators businesses that will be allowed to reopen next week as Rhode Island's economic restart continues.
CEO pay has topped $12.3M. Can it keep rising post-pandemic?
The typical pay package for CEOs at the biggest U.S. companies topped $12.3 million last year, and the gap between the boss and their workforces widened further, according to AP’s annual survey of exe
Nissan-Renault alliance to share more parts, technology
The auto alliance of Nissan and Renault said Wednesday it will be sharing more vehicle parts, technology and models to save costs as the industry struggles to survive the coronavirus pandemic.
The spread of America's self-inflicted debt crisis
The COVID-19 shutdown has left the country on the cusp of a self-inflicted economic collapse not seen since the Great Depression.
Global stocks mixed on unease over Hong Kong security law
Global stock markets were mixed Wednesday as U.S.-Chinese tensions over Hong Kong vied with optimism about recovering from the coronavirus pandemic.
MLB players will take time to respond to money-slashing plan
Baseball players will take at least a few days and possibly until next week to respond to Major League Baseball’s proposed sliding scale of salary slashing for a pandemic-delayed season in ballparks w
Company completes 1st overland fiber-optic cable from Alaska
An Alaska company has completed construction of the first overland fiber-optic cable connecting the state to the continental U.S.
Why good credit matters — even if you don’t plan to borrow
Even if you don’t plan to borrow a dime, a good credit record is valuable. Think of it like a household fire extinguisher: It’s smart to have a good one even though you have no plans to use it.
Amazon in talks to buy driverless-technology startup Zoox
Amazon.com Inc. is in advanced talks to buy Zoox Inc. in a move that would expand the e-commerce giant’s reach in autonomous-vehicle technology.
Air India allows rescheduling for bookings between March 23 and May 31
The national carrier has informed that there will be no extra rescheduling charges applied for this…
Hotels prepare to reopen facilities in Abu Dhabi
The Department of Culture and Tourism – Abu Dhabi (DCT Abu Dhabi) has issued detailed guidelines for properties in the emirate…
India’s tourism ministry extends validity period for hotels and travel agents
The validity period of approval or certification of hotels and other accommodation units has been extended until June 30, and six months’ relaxation for all travel agents…
Airline debt could rise to US$550 billion by year-end: IATA
IATA believes that the kind of financial support provided will influence the speed and strength of the airline industry recovery…
Wyndham welcomes 11 new-build US properties in first quarter
Over 25 new-build hotels were also signed over the same period, and another ten began construction…
Air New Zealand opens domestic and regional lounges with limited services
The lounges will be operating “slightly differently to what people are used to”, said the carrier
Air France agrees to cut many domestic flights
The CEO of Air France-KLM has announced substantial changes to the domestic network of Air France…
Sugar Inquiry Commission didn't highlight NPMC's role in failing to control prices
The commission only held the Sugar Advisory Board responsible for taking any action
It's not a scam: Watch for stimulus debit cards in the mail
The Treasury Department has mailed nearly 4 million economic impact payments to Americans via a prepaid debit card.
TUC fights Trade Fair Company over ‘illegal’ mass layoffs
Leadership of the Public Services Workers’ Union, (PSWU) of the Trades Union Congress, (TUC) has locked horns with CEO for the Ghana Trade Fair Company, GTFC Dr Agnes Adu over what the Union terms “unconventional mass termination of appointments of some 23 staff of the Company.
Latam Airlines seeks bankruptcy protection as travel slumps
BANGKOK, Thailand (AP) — Latam Airlines, South America's biggest carrier, sought US...
CMU to miss report deadline due to auditing delay
OFFICIALS of the Caribbean Maritime University (CMU) were again put in the hot seat at th...
Poor weather delays SpaceX launch at Cape Canaveral
The first launch of NASA astronauts from US soil in almost a decade has been postponed until Saturday afternoon, just a few minutes before the scheduled lift-off. Possible lightning strikes prompted the delay.
France unveils stimulus plan worth €8 billion for car industry
The package includes an increase to the state subsidies given to motivate potential buyers of new electric and hybrid cars. The plan also includes a state loan worth €5 billion for troubled carmaker Renault.
Lufthansa says 'unable to approve' coronavirus rescue over EU conditions
Airline giant Lufthansa said it cannot approve a German state rescue over fears that conditions imposed by Brussels would be too harsh. The aid package must still be cleared by the European Commission's competition arm.
Nokia shuts plant in Tamil Nadu after 42 test positive for COVID-19
NEW DELHI: Nokia last week suspended operations at a telecoms gear manufacturing plant in southern India, the company said on Tuesday (May 26), ...
EUR/USD Flat in Wild Trading as EU Proposes €750B Covid-19 Stimulus Package
EUR/USD Flat in Wild Trading as EU Proposes €750B Covid-19 Stimulus Package
Dow Busts Move Higher on Late Buying as Traders Bank on Financials to Shine
Dow Busts Move Higher on Late Buying as Traders Bank on Financials to Shine
Stocks - Dow Jumps as Financials Take Spotlight Amid Stumble in Tech
Stocks - Dow Jumps as Financials Take Spotlight Amid Stumble in Tech
Exclusive: Chevron to cut up to 15% of staff amid restructuring
Exclusive: Chevron to cut up to 15% of staff amid restructuring
Stocks - U.S. Futures Higher Ahead of May Business Surveys
Stocks - U.S. Futures Higher Ahead of May Business Surveys
It’s A Good Idea To Ignore REITs Right Now, Despite Soaring Yields. Here's Why
Stocks Analysis by Investing.com (Haris Anwar/Investing.com) covering: Simon Property Group Inc, United States 10-Year, First Trust S&P REIT Index Fund, Brookfield Property Partners LP. Read Investing
Stocks - Europe Pushes Higher, Expecting More Stimulus
Stocks - Europe Pushes Higher, Expecting More Stimulus
NYSE short interest rose 1.0 percent in mid-May
NYSE short interest rose 1.0 percent in mid-May
Hong Kong unrest worries curb global shares rally
Hong Kong unrest worries curb global shares rally
Can Cannabis Cure COVID?
Market Overview Analysis by Matthew Weller covering: GW Pharmaceuticals PLC ADR, Canopy Growth Corp, ETFMG Alternative Harvest ETF, Aurora Cannabis Inc. Read Matthew Weller's latest article on Investi
United reshuffles management as it prepares for uncertain recovery
United reshuffles management as it prepares for uncertain recovery
Day Ahead: Top 3 Things to Watch for May 28
Day Ahead: Top 3 Things to Watch for May 28
It’s A Good Idea To Ignore REITs Right Now, Despite Soaring Yields. Here's Why
Stocks Analysis by Investing.com (Haris Anwar/Investing.com) covering: Simon Property Group Inc, United States 10-Year, First Trust S&P REIT Index Fund, Brookfield Property Partners LP. Read Investing
StockBeat: Banks Take up the Baton as Cyclical Rally Continues
StockBeat: Banks Take up the Baton as Cyclical Rally Continues
Stock - Wall Street Opens Higher as Cyclicals' Recovery Gains Strength
Stock - Wall Street Opens Higher as Cyclicals' Recovery Gains Strength
S&P 500 rises on boost from bank shares
S&P 500 rises on boost from bank shares
Boeing cutting more than 12,000 U.S. jobs, thousands more planned
Boeing cutting more than 12,000 U.S. jobs, thousands more planned
S&P 500, Dow Indices On Course For Best May Performance Since 2009; USD Lags
Forex Analysis by Ashraf Laidi covering: EUR/USD, AUD/USD, USD/CAD, S&P 500. Read Ashraf Laidi's latest article on Investing.com
Opening Bell: U.S. Futures, Stocks Jump On More Stimulus, Economic Restarts
Market Overview Analysis by Investing.com (Pinchas Cohen/Investing.com) covering: EUR/USD, GBP/USD, USD/JPY, XAU/USD. Read Investing.com (Pinchas Cohen/Investing.com)'s latest article on Investing.com
Chart Of The Day: Gold Could Rally No Matter Which Way Stocks Go
Commodities Analysis by Investing.com (Pinchas Cohen/Investing.com) covering: XAU/USD, Gold Futures. Read Investing.com (Pinchas Cohen/Investing.com)'s latest article on Investing.com
All 3 Detroit automakers had workers test positive for COVID-19 since plants reopened
All 3 Detroit automakers had workers test positive for COVID-19 since plants reopened
Tech reboot in store for EU as plans recovery from crisis
Tech reboot in store for EU as plans recovery from crisis
Decline in China's industrial profits slows in April, outlook still gloomy
Decline in China's industrial profits slows in April, outlook still gloomy
BoJ's bond holdings edge towards the size of Japan's economy
BoJ's bond holdings edge towards the size of Japan's economy
Asia Session: Regional Equities Mixed On Hong Kong Tension; Oil Consolidates
Market Overview Analysis by MarketPulse (Jeffrey Halley) covering: EUR/USD, GBP/USD, AUD/USD, USD/CAD. Read MarketPulse (Jeffrey Halley)'s latest article on Investing.com
Exclusive: Volkswagen in final talks to seal biggest M&A deals in China EV sector - sources
Exclusive: Volkswagen in final talks to seal biggest M&A deals in China EV sector - sources
Boeing resumes 737 MAX production at low rate
Boeing resumes 737 MAX production at low rate
With debt crunch looming, Sri Lanka needs help from its friends
With debt crunch looming, Sri Lanka needs help from its friends
Materials And Energy Dashboard - Update
Valuation metrics in basic materials and energy. Evolution since last month. A list of stocks looking cheap in their industries.
West Midlands has big fintech opportunity
The West Midlands has the potential to become a major UK fintech hub if it takes an integrated approach to maximising its advantages, according to a report.
Future-Proof Your KYB, KYC And Risk In One API
Data aggregation with automation has been the next big milestone the risk industry has been trying to reach.
Annoying Security Line At Charlotte Airport Is Maybe A Good Sign For American Airlines
A video of a long security line at Charlotte Douglas was posted on Twitter Monday. On the negative side, the line recalled all the inconveniences of packed airports. On the plus side, same thing.
Jump In Mortgage Refinancing Leads To Record-Breaking Loan Volume For Lenders
Low mortgage interest rates continue to fuel a surge in refinance activity amid the coronavirus pandemic, resulting in record-breaking loan volume for lenders.
Playing Defense With Cloud Software Stocks
Cloud software companies may see an impact on one side of the equation for net retention rates or both sides of the equation – this means either fewer new customers or more churn or downgrades in existing customers or both. There are three points where weakness can occur ... READ MORE.
Boeing Slashes Over 12,000 Jobs, With More Cuts Coming
The cuts come as the commercial airline industry has seen a historic fall in demand.
Consider Electronic Arts Over Take Two Interactive As Demand For Gaming Increases?
The stock price for Electronic Arts is down roughly 8.5% since May 31, 2018, as the company’s business in 2019 was impacted by lower user engagement. In comparison, Take Two Interactive, best known for its NBA2K franchise, has seen its stock grow by 25.4% during the same period...
Can General Electric Survive The COVID-19 Recession
General Electric’s stock (NYSE: GE) has lost over 45% of its value since the beginning of the year due to the outbreak of COVID-19. The commercial aviation industry is rattled, and GE, which manufactures aircraft engines, is no exception. Fading consumer demand, reduced discretionary spending...
European Union Reveals $826 Billion Economic Stimulus Plan To Battle Coronavirus Damage
Under the proposal, the EU will issue €750 billion in government bonds and then distribute that cash to its member states through grants and loans. Nothing will happen, however, until all 27 of the EU’s member states approve.
Securities Giant Leads $14 Million Investment To Bring Bitcoin To Institutions
SIX Group is not only leading the Series A, but plans to use the technology to give institutional investors in Switzerland access to regulated bitcoin investing.
Boeing Resumes 737 MAX Production After Announcing Over 12,000 Job Cuts
The 737 MAX hasn't been allowed to fly since March of 2019, following deadly crashes.
Most Businesses Pessimistic About Speed Of Economic Recovery, Fed Reports
Health concerns, limited childcare and expanded unemployment are making it more difficult to bring employees back to work, the Fed said.
Dow Jumps 300 Points As Wall Street Bets On A Successful Reopening Of The Economy
The Dow broke above 25,000.
Covid-19 May Accelerate The Digital Divide Among Banks – Digital Leaders Are In The Pole Position
COVID-19 may accelerate the trending digital divide between leaders and laggards in the banking industry, which was already becoming stark by the end of 2019. Over the next two years, this divide may drive industry restructuring and consolidation. Will laggards ever be able to catch up?
Goldman Sachs Forecasts Unemployment To Peak At 25%, Remain High For Next Two Years
Widespread unemployment could linger longer than expected and slow an economic recovery.
Startling Figures Reveal Extent Of Government Support For Beleaguered Economy
Figures from the government confirm it is backing loans and other support mechanisms worth tens of billions to the UK economy
As Europe Unveils “green” Recovery Package, Trans-Atlantic Rift On Climate Policy Widens
The European Union is using the economic downturn to accelerate its clean energy transition. In the US, a surprise new policy that would provide relief to the oil and gas sector shows it has different priorities during the crisis.
Digital Maturity Is Critical To Business Success – Now, More So Than Ever – Survey Finds
A new survey by Deloitte finds a connection between digital maturity and the financial performance of companies. Here we look at the key insights from the survey and speak with Deloitte’s chief innovation and digital officer Ragu Gurumurthy.
Millions Of U.S. Jobs Are Never Coming Back From The Covid-19 Recession
“We find three new hires for every 10 layoffs caused by the shock and estimate that 42% of recent layoffs will result in permanent job loss."
Research Firm: Market’s Risk Is Phenomenally High, 2nd Dive Likely
Equity Risk Science, a big-data analytics firm, created a risk measure that says the current market is still very risky and likely to take another big dive, due to the high debt levels of many large companies.
Gatsby, Website-Building Startup Backed By Index Ventures, Raises $28 Million
Gatsby, a website development startup aiming to rival companies from Squarespace to Google is now valued more than $200 million after a funding round led by Index Ventures.
Stocks Cut Gains, Dow Up 200 Points As Tech Shares Slide
The Dow broke above 25,000.
Dow Closes Above 25,000 For First Time Since March
The S&P also broke above 3,000, its best close since March.
Bitcoin Exchange Bitbuy Partners With Knox Security To Offer Full Deposit Insurance
Canadian exchange Bitbuy has partnered with the Montreal-based Knox security firm to offer its clients comprehensive insurance on their cryptocurrency deposits.
The $20 billion self-driving startup Cruise is adding to its leadership team even as autonomous-vehicle companies are hitting the brakes during the pandemic
Regina Dugan, a veteran of DARPA, Google, and Facebook will be Cruise's first independent director on the company's board.
Licence Check welcomes Government guidance on working safely with vehicles
Licence Check has welcomed updated Government guidance on working safely with vehicles during the Coronavirus pandemic as more businesses look to return to work.
Used cars: Leasing companies will have to ‘work harder’
Hitachi Capital Vehicle Solutions says the industry will have to ‘knuckle down’ if values are to be achieved in a post-pandemic used car market.
RBNZ says the banks have $40 billion of loans on commercial property with $5 billion of that in development projects
RBNZ says the banks have $40 billion of loans on commercial property with $5 billion of that in development projects
Billionaire Ray Dalio is one of the world's richest hedge fund managers. Here are his best quotes on everything from the markets to meditation.
Hedge fund manager Ray Dalio who runs Bridgewater Associates is one of the world's wealthiest hedge fund managers. Dalio recently said the Amer...
Four out of five Ryanair passengers still waiting for refunds – survey
Most flights have been cancelled during the coronavirus pandemic but many passengers have struggled to get their money back.
REA, AfDB canvass productive energy use in rural areas
Okechukwu Nnodim, Abuja The Rural Electrification Agency, in collaboration with the African Development Bank, has called for an increase in the productive use of energy in rural communities by fa...
Huge boost for International Foto Biennale
Councillors voted to give an enormous funding boost to the Ballarat International Foto Biennale in the hope a revamped event will help the city recover from the COVID-19 crisis.
Bali floats travel bubble as way back for Australians
If cash-starved Bali hotel owners had their way, Australians would be heading back to the resort island as early as July.
New York Gold Traders Drown in a Glut They Helped Create
The New York gold market has been flipped on its head in just a couple of months, with a scramble for the metal turning into a glut.
RBA: A reminder that RBA Governor Lowe will appear before the Senate Select
At the top of the hour, we will hear from the Reserve Bank of Australia Governor Phillip Lowe who will appear before the Senate Select Committee on CO
NZ April fall largest since the filled jobs series began more than 20 years ago
New Zealand stats says total filled jobs fell 1.7% in April 2020 compared with march 2020. Job numbers fell by a record 37,500 in April 2020 amid COV
USD/JPY stays firm above 107.50 amid risk reset
USD/JPY extends the previous day’s gains while being mildly positive around 107.75 amid Thursday’s Asian session. The yen pair recently benefited from
NZD/USD ignores New Zealand Total Filled Jobs data to add gains above 0.6150
NZD/USD refreshes the intraday top to 0.6191 during the pre-Tokyo Asian session on Thursday. In doing so, the Kiwi pair ignores the recently flashed A
Boeing cuts 12,000 jobs, resumes production of grounded jet
Boeing is cutting more than 12,000 U.S. jobs through layoffs and buyouts as the coronavirus pandemic seizes the travel industry. And the aircraft maker says more cuts are coming.
Boeing cutting more than 12,000 US jobs, thousands more planned
Boeing Co said on Wednesday it was eliminating more than 12,000 U.S. jobs, including 6,770 involuntary layoffs, as the largest American ...
All 3 Detroit automakers had workers test positive for COVID-19 since plants reopened
In the week since U.S. auto factories reopened after coronavirus lockdowns, workers at all three Detroit automakers have tested positive for ...
All three Detroit automakers had workers test positive for COVID-19 since plants reopened
In the week since U.S. auto factories reopened after coronavirus lockdowns, workers at all three Detroit automakers have tested positive for ...
UK tells EU: Break the Brexit 'impasse' so we can do trade deal
Britain told the European Union on Wednesday it needed to break a fundamental impasse to clinch a Brexit trade deal by the end of the year and ...
Boeing cutting more than 12,000 US jobs, thousands more planned
Boeing Co said on Wednesday it was eliminating more than 12,000 U.S. jobs, including 6,770 involuntary layoffs, as the largest American ...
Boeing cutting more than 12,000 US jobs with thousands more planned
Boeing Co said Wednesday it was eliminating more than 12,000 U.S. jobs, including laying off 6,770 U.S. workers as the largest American ...
Big 5 Sporting Goods Corporation (BGFV) CEO Steve Miller on Q1 2020 Results - Earnings Call Transcript
Big 5 Sporting Goods Corporation (NASDAQ:BGFV) Q1 2020 Earnings Conference Call May 27, 2020 05:00 PM ET Company Participants Steve Miller - President and CEO B
Hershey: Strong Cost Advantages Will Power The Company Forward
Hershey has experienced steady growth over the years due to its large market share in the United States. The company has shown a willingness to innovate in onli
Coronavirus Stock Market Bargains: Xerox Stock
Xerox stock has lost $4.5B of value in the recent selloff. Forward-looking estimates indicate that only $2.7B of value loss was warranted. XRX has poor price mo
Four out of five Ryanair passengers still waiting for refunds – survey
Most flights have been cancelled during the coronavirus pandemic but many passengers have struggled to get their money back.
ESRI warns against austerity measures in short-term as economy heals from the pandemic
The think-tank has sketched the likely impact of the virus across a range of Irish economic indicators.
Although auction numbers are still well down on where they were at this time last year, the sales ratio is higher
Although auction numbers are still well down on where they were at this time last year, the sales ratio is higher
Statistics New Zealand says job numbers fell by 37,500 in April, the biggest volume and percentage fall since its 'filled jobs series' began in 1999
Statistics New Zealand says job numbers fell by 37,500 in April, the biggest volume and percentage fall since its 'filled jobs series' began in 1999
News Corp shuts down more than 100 print titles, hundreds of jobs to go
News Corp has confirmed its plans to axe hundreds of jobs as it moves to a digital-focused future.
Torstar’s family trust sells near market bottom
After rejecting a series of higher bids, the five families are selling voting control of the 128-year-old company for $6-million
Trading strategy losses hurt banks’ capital markets profit
The Bank of Montreal and the Royal Bank of Canada reported worse than expected results due to market volatility
Alberta mulls bill that would limit energy project approval time
The bill is part of a continuing government evaluation of the Alberta Energy Regulator, which the United Conservatives say is crucial to speeding up project approvals in the province
Too early to celebrate value comeback
Via the excellent Damien Boey at Credit Suisse:
Four out of five Ryanair passengers still waiting for refunds – survey
Most flights have been cancelled during the coronavirus pandemic but many passengers have struggled to get their money back.
Coronavirus Refunds: AT&T DirecTV Customers Will Receive Credits For Sports Subscriptions
The DirecTV business of AT&T is providing MLS Direct Kick and MLB Extra Innings subscribers with credits for payments they have made for their plans.
Private/Public Partnerships Could Boost Central Bank Digital Currencies
About 80 percent of 66 central banks queried by the Bank of International Settlements (BIS) are working on central bank digital currencies (CBDC).
Major markets in Sekondi-Takoradi to be closed over surge in coronavirus numbers
Major markets in the Sekondi-Takoradi metropolis are expected to be closed down today for disinfection due to the rise in COVID-19 numbers in the region.
Nord Stream 2 Operator Says Sanction Threats Are Discrimination Against European Companies
MOSCOW (Sputnik) - Threats to impose sanctions against the Nord Stream 2 gas pipeline project are discrimination against European companies, the project operator, Nord...
Top 10 biz headlines: Recession, Nasdaq listing for Jio Platforms, and more
Here are the top 10 business headlines on Wednesday morning
Investor “Bullish” on News That a 2009 Bitcoin Miner Still Trusts BTC’s Roadmap
It's been an interesting past few weeks for Bitcoin. First, there was the halving. Then an early miner from 2009 initially believed to be Satoshi Nakamoto
Virgin bidder Cyrus plans to keep airline as full-service Qantas competitor
The Richard Branson-linked investment fund has said it wants to maintain Virgin Australia as a full-service international airline if it wins the race for the collapsed carrier.
Media company Torstar to go private after sale to NordStar Capital in $52M deal
NordStar Capital LP, a private firm owned by businessmen Paul Rivett and Jordan Bitove, plans to take Torstar private
The Sector Back From the Grave
While the S&P has been soaring, there's one sector (other than tech) that's crushing it ... and you probably haven't been paying it any attention.
Immigration recruitment: Ex-minister, fugitive businessman know fate tomorrow
Justice Nnamdi Dimgba of the Federal High Court, Abuja will decide on Thursday whether Patrick Abba Moro, Drexel Global Tech Limited ...
IndiGo flier tests positive after landing in Coimbatore
"No one else was seated in his vicinity, significantly reducing the possibility of transmission... The operating crew has been home quarantined for 14 days and we are in the process of notifying other passengers as per the government guidelines," the airline said.
Singapore Fortitude Budget: S$2b to create 100,000 jobs, traineeship, training opportunities
SINGAPORE, May 27 — The Singapore government will set aside about S$2 billion (RM6.12 billion) to create nearly 100,000 jobs, traineeships and training opportunities, as part of the Fortitude Budget announced by Deputy Prime Minister Heng Swee Keat yesterday. These will come under an SGUnited...
New York governor floats infrastructure projects to reboot economy
NEW YORK, May 27 — New York Governor Andrew Cuomo yesterday floated a number of major infrastructure projects to reboot the US economy post-pandemic, saying he would raise the issue at a meeting today with President Donald Trump. “Let's do something creative, let's do it fast. Let's put...
US dollar edges higher as US, China worries resurface
TOKYO, May 27 — The US dollar edged higher today as worries about the US response to China's proposed security law for Hong Kong supported safe-haven demand for the greenback. The euro held gains against the dollar and the pound but faces a severe test when the European Commission is expected to...
Petrol sold above N130 in 17 states, says NBS
’Femi Asu Despite the reduction in the price of petrol to N125 per litre, the product was sold above N130 per litre in 17 states in April, according to the National Bureau of Statistics. Followin...
Spark chairman takes aim at govt intervention
Endless reviews, regulatory changes and government interventions into the energy space risk derailing Spark's track record of long-term stable returns, chairman Doug McTaggart told shareholders.
NZ facing worst downturn in 160 years: central bank
If tough restrictions are re-imposed unemployment could rise to 18 per cent and banks would need to raise capital, the Reserve Bank of New Zealand warns.
The book you need if you want to understand China right now
As China-US relations deteriorate, a new book argues Washington and its allies should engage with Beijing instead of provoking it.
Japara flags major impairment,says conditions are tough
The aged care provider says so far it has no cases of COVID-19 with residents, but one staff member in a home contracted the virus. It has suspended its brownfield and greenfield development programs given the difficult outlook.
Warner IPO music to Blavatnik’s ears
Warner’s shares are only decent value for investors willing — like so many aspirant musicians — to cede control to a managerial Svengali.
Why quant legend says it's 26 days to a new normal
A new measure of how long investors see the COVID crisis lasting from quant legend Dan diBartolomeo neatly tells the story of growing optimism.
AUD/JPY: Bears getting set for potential major sell-off
AUD/JPY has extended the upside for a more mature shorting opportunity. This trade is now offering a discount for bears seeking to take advantage of t
NZD/USD remains on hunt for break above 0.62 after China Industrial Profits data
NZD/USD is eyeing a clear break above the psychological hurdle of 0.62, having found bids near 0.6179 in early Asia and violated the resistance of the
Silver Price Analysis: Bounces from $17.00, Wednesday's close pivotal
Silver is currently trading near $17.20 per ounce, representing a 0.65% gain on the day, having defended the psychological support of $17.00 during th
N.L. warns of exodus of oil and gas industry without more federal help
ST. JOHN'S, N.L. — Newfoundland and Labrador's government is looking for a rapid answer from Ottawa on its request for aid for the offshore oil sector in light of a quickening exodus of exploration rigs from the province.
Aussies are heading back to shopping centres in high numbers as coronavirus restrictions start to ease, according to new data
More people are heading into shopping centres as coronavirus restrictions ease in Australia.
France unveils US$8.8b plan to revive auto sector through electric cars
ETAPLES, France: President Emmanuel Macron on Tuesday (May 26) announced an 8-billion euro (US$8.8 billion) plan to revive France's auto industry ...
JPMorgan CEO: bank will again boost credit reserves in second quarter
JPMorgan Chase & Co Chief Executive Officer Jamie Dimon said on Tuesday that he expects the bank to take another significant credit reserve build ...
With quarantine norms revised, Indian returnees must be refunded part of their advance by hotels: Centre
India News: NEW DELHI: Indian returnees from abroad who had paid hotels in advance for their 14-day quarantine stay but can now leave after seven days under revis.
It’s increasingly clear our tough road ahead has no end in sight
There’s no indication of when businesses will be able to reopen again, and it may be that we are entering the Dark Twenties
Here’s Why Bitcoin Could See a Bloodbath Decline to the $5,000 Region
Analysts are noting that Bitcoin's HTF outlook favors sellers, with one even noting that the crypto could soon be trading within the $5,000 region.
Bitcoin Daily: Australia’s RMIT To Offer Grad Certificates In Blockchain Business, Cybersecurity
RMIT Online unveiled postgraduate programs in blockchain and cybersecurity, as predictions indicate Australia will need 18,000 more of these workers by 2026.
Economy may contract by over 40% in Q1: SBI Research
SBI Research estimates the economy will contract by 6.8 per cent in FY21.
Auto companies stare at bleak wholesale numbers in May
After zero sales in April, auto companies are going through a dull May.
Property professionals must see technology as an opportunity, not a threat
Over the past 10 weeks, digital platforms have played a key role in sector
South Dublin office investment sells for €1.35m
Private investor in line for 6.73% yield from purchase of fully let Sandyford property
Amtrak requests additional $1.5B in federal funding for coronavirus relief
May 26 (UPI) -- Passenger railroad service Amtrak on Tuesday asked Congress for an additional $1.5 billion in federal funds to help it maintain operations amid the effects of the COVID-19 pandemic.
Amazon in advanced talks to buy self-driving startup Zoox: WSJ
(Reuters) - Amazon.com Inc (AMZN.O) 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 on.wsj.com/36wXJUV on Tuesday.
'Our greatest challenge': How to rebuild the ACT's virus-struck economy?
As business start to reopen and the ACT takes its first tentative steps on the road to recovery, The Canberra Times canvassed the views of politicians, academics, economists and industry groups on the best approach to rebuilding the economy.
Boeing slashes 12,000 jobs as virus seizes travel industry
Boeing is slashing around 10 per cent of its workforce, and the aircraft maker says more cuts are coming.
Government may need to pump $20 billion into coronavirus-hit state banks: Report
MUMBAI/NEW DELHI: India may need to inject up to Rs 1.5 lakh crore ($19.81 billion) into its state-owned lenders as … Government may need to pump $20 billion into coronavirus-hit state banks: Report Read More »
Four Reasons Why Digital Security (Security Token) Liquidity Has Lagged
How fundamental misunderstandings about the function, behavior, and purpose of digital securities have stymied the path to liquidity -- but there is hope...
Ukrainian airline switches to cargo to weather COVID crisis – media
The impact of the novel coronavirus pandemic on the airline industry has prompted several carriers to seek state aid.
Fed says pandemic inflicted most ‘severe’ damage on travel sector
Beige Book report on economic conditions shows activity fell sharply in most parts of US
China puts GDP target on history's ash pit
The ruling party abandons the material growth standard of gross domestic product. Now, like many nations, it struggles to define progress in alternative ways.
First Las Vegas casinos to reopen on the Strip are revealed
Vegas is betting that it’s time to reopen.
McGuinness says Ireland will “fight for its fair share” of EU recovery fund
Ireland’s Vice President of the European Parliament has insisted the country will “fight for ...
Covid impact: Big restaurants may walk out of malls to high streets
Some marquee brands are looking at moving back to streets from malls because of Covid-19.
Germany to lift virus-related travel warning for EU countries from June 15
A government source said on Tuesday that the step would also include non-EU member states Britain, Iceland, Norway, Switzerland and Liechtenstein. This would open the way to separate pieces of advice on travel for given regions.
Megabus will resume service in and out of NYC next week
Megabus will resume its budget bus service between New York City and Philadelphia, Baltimore and Washington, D.C. next week, the company announced. Even as the Big Apple remains on coronavirus
Used car sales recover after COVID-19 lockdowns
Many wholesalers either weren’t trading-in cars, or were making low offers amid market uncertainty, but the used market is now showing signs of recovery.
Toyota tops the list, Tesla climbs the ranks in Australia's most trusted car brands
The automotive industry is the fifth most-trusted business sector in Australia, but buyers have more faith in some brands over others.
General Electric is selling off its home lighting business after nearly 130 years
After cycling through multiple CEOs, each with their own priorities, the company now has its hands in several different industries, ranging from aviation to healthcare to venture capital and finance.
Amazon is in advanced talks to purchase self-driving vehicle start-up Zoox
Amazon is reportedly in advanced talks to purchase self-driving vehicle start-up Zoox. Sources familiar with the matter tell The Wall Street Journal that the deal would value the company under $3.2 billion, the valuation its 2018 round of funding was based on.
China ready for looming financial war initiated by US
China should prepare for a potential financial showdown with the US, as the Trump administration appears to be waging a financial war on China, with crackdowns on US-listed Chinese companies and threats of sanctions over national security legislation for the Hong Kong Special Administrative Region (HKSAR), financial sector experts said on Thursday.
Boeing slashes 12,000 jobs as virus seizes travel industry
Boeing is slashing around 10 per cent of its workforce, and the aircraft maker says more cuts are coming.
Trade from North to Great Britain will be ‘99.9%’ unfettered, says Gove
No pushback from EU on British government interpretation of protocol, minister tells MPs
Here’s why 3 Wall Street analysts just boosted their Apple price targets
A slew of Wall Street analysts boosted their Apple price targets this week, citing increased demand for iPhones, store reopenings, and services as reasons that the tech giant is poised to gain.
These 5 ‘stay at home’ stocks are getting pounded as the US economy reopens
A group of popular “stay at home” stocks are slumping as investors cheer the US economy reopening.
Micron climbs 6% after boosting sales guidance by more than expected
Micron climbed 6% on Wednesday after the company raised its fiscal third quarter revenue guidance, according to an 8-K filing with the Securities and Exchange Commission.
Italy PM meeting with allies fails to break Atlantia deadlock
ROME (Reuters) - A meeting between Italy’s Prime Minister Giuseppe Conte and coalition allies on Wednesday to try settle a row over Atlantia’s motorway business yielded no progress, two government sources said.
F1 to have sliding development scale, $145m budget cap from 2021
Formula One's post-coronavirus future took shape on Thursday after racing's governing body, the FIA, ratified several unprecedented measures in the technical and financial regulations.
Virus sparks record drop in energy investment: IEA
The energy industry is set to suffer a record drop in investment due to the coronavirus fallout, the IEA said on Wednesday, and while renewables are likely to fare better than oil, any swift economic recovery could create a global fuel crunch. In its annual report on energy investments, the…
Canadian court arrives at decision for Huawei's CFO, Meng Wanzhou
In December 2018, Meng Wanzhou, Huawei's CFO, was arrested in Canada at the request of the United States. Today, a court in Canada has finally made its decision about what should happen.
Bitstamp Unveils British Pound Trading vs Fiat and Cryptocurrencies
Bitstamp, one of the largest crypto platforms in Europe, has announced its plans of supporting a new set of digital assets after adding the pound sterling trading .
Huawei CFO is one crucial step closer to being extradited to the US
A Canadian court has ruled that Huawei's financial chief Meng Wanzhou is eligible for extradition.
Industry body proposes Rs 50,000 crore fund, declaring FY21 tourism tax free
In a letter to Tourism Minister Prahlad Singh Patel, FAITH Chairman Nakul Anand has said that viable tourism business will not restart for almost 15 months after the lockdown is lifted
ALEX BRUMMER: Landlords take a brutal beating... and the recovery is not going to be easy
Amid the constant tussle between commercial landlords and retailers it is the property owners who are often portrayed as villains. Traditional bugbears play their part in this.
RIL-RE price jumps 11% on Day 5 on high volumes
RIL-RE continued to command a healthy premium over its intrinsic value in its fifth trading session with healthy volumes.
ICRA expects muted participation in spectrum auction, sees industry debt rising
It said the upcoming spectrum auctions are expected to see "muted" or "modest" participation, fetching around Rs 55,000-60,000 crore to the exchequer.
50 per cent job seekers enhancing skills in lockdown for better career opportunities: Survey
The country imposed a nationwide lockdown on March 25 to contain the coronavirus pandemic that has been extended thrice to May 31.
‘Atma Nirbhar’ MSMEs: How govt measures will enable them for long-term sustainability, profitability
Ease of doing business for MSMEs: In current times, where the mere survival of the MSME sector is at stake, Atma Nirbhar Bharat Abhiyan intends to address the needs of the MSME sector.
ED attaches JP Morgan assets worth Rs 187 cr, MNC in SC denies wrong doing in Amrapali case
The firm, JP Morgan India on other hand denied any wrong doing and said that attachment of properties by the Enforcement Directorate is blatantly illegal as it was not part of any kind of financial dealing with Amrapali Group and it was JP Morgan Singapore and Mauritius which had allegedly invested in the real estate group.
Govt to discontinue 7.75% taxable savings bonds scheme from May 28
The bonds were issued in January 2018 for residents and Hindu Undivided Family (or HUF) members, and became instantly popular.
Approval rating for Modi govt 2.0 falls to 62% from 75% last year: Survey
The government's handling of the Covid-19 pandemic, however, got the highest approval rating
Indices post biggest jump in 7 weeks on banking stocks rally, global cues
Sensex gains 996 points as banking stocks rally
Govt extends Bharat Petroleum privatisation bid deadline to July 31
Any private company having a net worth of $ 10 billion is eligible for bidding and consortium of not more than four firms will be allowed to bid
Germany based Digital Bank N26 Publishes Survey Results Including US and European Markets
N26, a Germany-based digital bank that recently closed on $100 million funding as part of an extended Series D, is distributing survey results regarding the US
Global stocks rise as lockdown measures ease further
Stock markets rose on Wednesday as more easing of coronavirus lockdowns created a positive buzz on trading floors, analysts said.
Coronavirus: Punjab Govt to Decide on Lockdown Extension on May 30
Chief Minister Captain Amarinder Singh will hold a review meeting with the departments concerned on the overall coronavirus situation in the state on May 30 and then will announce the government's decision on lifting or further extending lockdown for a longer period.
Pub jobs at risk unless social distancing is cut to one metre, trade groups warn
Expecting pubs to contribute to furlough costs whilst they are still closed is ‘madness’, Chancellor told.
Will Uncle Sam Soon Pay Companies To ‘Reshore’ Factories Back To America?
Will the U.S. government pay American companies to "near shore" supply chains, incentivizing a pivot away from China?
SBI extends moratorium on loans by three months
Earlier, Reserve Bank of India (RBI) had on May 22 announced the extension of moratorium by another three months.
Central Bank reports €2.5bn profit for last year
The Central Bank is reporting a profit of over €2.5bn for last year – with just over €2bn o...
April manufacturing IIP to contract by 50-60 per cent: Report
"We believe IIP manufacturing and IIP in April will contract by 50% -60% with some improvement in May in the range of -30% to -35%" said the SBI report released on Wednesday. Official release of IIP numbers for April are scheduled to be released in the second week of June.
India may need to pump $20 billion into coronavirus-hit state banks: Sources
The government initially considered a budget of around 250 billion rupees for bank recapitalisations but that has risen significantly, a senior government source with direct knowledge of the matter said, with loan defaults likely to rise as businesses take a severe hit from nationwide lockdowns to tackle the coronavirus.
Indian Banks may need $20-50 bn capital over next 1-2 years as bad loans set to rise
Fitch Ratings has pegged the total capital requirement for India's banking sector at $50 billion.
Food industry can weather global economic shock: BKPM
Domestic investment dominates the industry, with Rp 7.3 trillion (US$494.6 million) from January to March this year, compared to $298 million in foreign direct investment (FDI) in the same period.
UK lockdown drives fastest growth in grocery sales for over 25 years
United Kingdom grocery sales rose by 14.3 percent during the 12 weeks to May 17, the fastest rate since comparable records began in 1994.
Tesla slashes EV prices by as much as six percent in North America
Tesla has slashed the price of its electric vehicles by as much as six percent in North America due to waning demand caused by the ongoing Covid-19 pandemic.
China's top political advisory body starts closing meeting of annual session
The third session of the 13th National Committee of the Chinese People's Political Consultative Conference, China's top political advisory body, started its closing meeting on Wednesday.
Examinership case hears of 14 'credible' expressions of interest in firm behind Joe.ie
An examiner has been appointed by the High Court to come up with a survival plan for a digital media company behind Joe.ie.
Court hears 14 ‘credible’ expressions of interest in Joe.ie company
Examiner appointed to Maximum Media Network
Two coronavirus-related deaths reported in North
Number of fines for breaches of social distancing guidelines drops by 90%
Boeing will lay off nearly 7,000 workers as the industry is decimated by the COVID-19 pandemic
Boeing said on Wednesday that it will lay off 6,770 US employees, “the first” wave of an expected round of job cuts as the coronavirus pandemic wreaks havoc on the aerospace sector.
A ‘capital war’ is accelerating between the US and China, and the coronavirus pandemic is only making it worse, according to one investor
The coronavirus pandemic has accelerated a trade, technology, and capital war between the US and China, according to Michael Howell, CEO of CrossBorder Capital.
The coronavirus crisis will be ‘hugely beneficial’ to Amazon and other tech giants, billionaire investor Bill Ackman said
Stocks may be outperforming because US technology titans are poised to become even more dominant thanks to the coronavirus pandemic, billionaire investor Bill Ackman told The New York Times earlier this month.
68% of newly unemployed American workers could earn more money from government benefits than they did from their pre-pandemic jobs, research claims
More than two-thirds of American workers who have filed for unemployment during the coronavirus are likely earning more from government insurance than they were when they had a job, according to research published by the National Bureau of Economic Research this week.
Nokia veteran Sari Baldauf takes over as 5G battle rages
HELSINKI (Reuters) - Sari Baldauf took over as chairwoman of telecoms equipment maker Nokia (NOKIA.HE) on Wednesday, succeeding Risto Siilasmaa who chaired the Finnish firm for eight years.
Carlyle-backed ZoomInfo looks to raise about $800 million in Nasdaq listing
(Reuters) - ZoomInfo Technologies Inc expects to raise up to $801 million in its U.S. initial public offering (IPO), as the market for new issues rebounds after the COVID-19 pandemic put several debuts on hold for a couple of months.
Tuesday Morning becomes 5th big retailer to file Chapter 11
Discount goods retailer Tuesday Morning has filed for Chapter 11 bankruptcy protection, the fifth major retailer to do so since the pandemic.
Our state needs to improve COVID spending transparency to increase public trust
Transparency and accurate information are needed to maintain trust in states' virus response programs. Gov. Jay Inslee must proactively disclose more details of Washington's COVID-19 spending.
EU to Propose €750bn Covid Recovery Package to Tackle 'Unprecedented Crisis'
The plan comes as the 27-member bloc faces the prospect of a deep EU-wide recession. Nearly all member states have breached EU deficit limits as they have rushed to...
Chinese and French State-owned Enterprises Bid to Construct UK's Second Nuclear Reactor in UK
As the United Kingdom looks to revive its economy as it emerges from the coronavirus pandemic and pursues trade agreements after formally withdrawing from the European...
The lockdown can hurt ISPs – Depending on the impact in the coming months
The ISP industry is one of the least impacted by the lockdown, but concerns remain over the long-term economic impact of the COVID-19 pandemic.
Lockdown restrictions on SA Post Office relaxed
Acting Minister of Communications and Digital Technologies Jackson Mthembu has lessened the regulations that were imposed upon the Post Office.
Electric vehicle makers battle the COVID-19 pandemic
Global EV sales will shrink this year, falling 18% to about 1.7 million units, according to BloombergNEF.
Reliable fibre connectivity will shape workplaces of the future
The COVID-19 lockdown has shown that the successful transition to virtual offices of the future will require extensive investment in digital infrastructure such as fibre.
TikTok owner made over R52 billion net profit last year – Report
TikTok’s parent ByteDance Ltd. generated more than $3 billion of net profit on over $17 billion in revenue last year, figures that show the world’s most valuable startup is still growing at a brisk rate, according to people familiar with the matter.
Digital strategies key for retail to survive a shifting consumer landscape
The world is in unchartered territory and as many businesses face the harsh reality of lockdown, we are beginning to accept that jobs will be lost, orders will be cancelled, and many doors will not be reopened.
MediaWorks staff to hear details of proposed redundancies
The radio arm of MediaWorks is meeting with staff today about proposed redundancies. On Monday it announced 130 jobs in its sales and radio...
Arthritis company Promisia pivots into Chch aged care sector
Medical company Promisia Integrative hopes to turn its core business to the aged care sector and acquire three facilities in the North Island and...
Green Cabs in liquidation, jobs cut
Nation-wide taxi company Green Cabs has gone into liquidation, reportedly cutting 160 jobs. This story was first published by RNZ Palliser...
Green Cabs in liquidation, jobs cut
Taxi company Green Cabs has gone into liquidation, reportedly cutting 160 jobs. This story was first published by RNZ Palliser Insolvency's Heath...
National News: Motorsport UK plans for motorsport to begin again on 4 July
Motorsport UK intends for national motorsport to resume in Britain from 4 July and, from the start of next month, will allow organisers to begin applying for event permits again
Good Works: Tencent and Universal Team Up on Charity PPE Distribution
In early April, several days after Tencent Holdings closed its deal to buy a 10 percent stake in Universal Music Group along with a consortium of investors, Tencent Chief Strategy Officer James Mitchell called Universal Executive Vice President of Communications Will Tanous with an idea.
Ultra Music Fest Hit With a Class Action Over Refusal to Issue Ticket Refunds
Two Florida residents are suing Ultra Music Festival for refusing to give refunds for their 2020 cancelled electronic music festival.
Ryman Hospitality Backs Out of Deal to Purchase Austin City Limits Property
Ryman Hospitality has backed out of a $283 million deal to purchase a mixed-use property that includes the 2,500-seat Austin City Limits Live at the Moody Theater.
Sony/ATV Promotes Peter Brodsky to General Counsel, EVP Business Affairs
Sony/ATV Music Publishing has promoted Peter Brodsky to general counsel to compliment his longtime role as executive vp, business affairs at the Sony Music company.
Administrators deny South African Airways set to start flying
JOHANNESBURG (Reuters) – Administrators for state-owned South African Airways (SAA) said on Wednesday the airline is not aiming to resume domestic flights from mid-June, rejecting a statement from the airline a day earlier.
World economic prospects darken, rebound delayed – Poll
BENGALURU (Reuters) – 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.
Stock markets mixed as China-US tensions return to fore
Equities were mixed Wednesday as profit-taking and worries about deteriorating China-US relations were weighed against optimism over the gradual reopening of economies around the world.
She is the World’s highest paid woman CEO
Lisa Su of Advanced Micro Devices is the first woman ever to top The Associated Press’ annual survey of CEO compensation: Her 2019 pay package was valued at $58.5 million following a strong performance for the company’s stock during her five years as CEO.
Administrators rule out mid-June return for SAA flights
Without approval of practitioners, SAA announced its planes would be back in the skies.
How China’s tensions could be good for Hong Kong’s stock exchange
Beijing’s planned imposition of a national security law has sparked renewed protests in the territory. But prospects for the HKEX are brighter than they might at first seem.
Boeing Job Cuts to Start Hitting Seattle-Area Workers This Week
Boeing Co. is poised to unveil deep job cuts to its Seattle-area engineering ranks this week as the planemaker shrinks its workforce to cut costs amid the sharpest contraction in aviation history.
Amtrak Plans Deep Workforce Cuts Ahead of Slow Pandemic Recovery
Amtrak projects ridership will return to just half of 2019 levels in its upcoming fiscal year beginning in October, Amtrak Chief Executive Officer William Flynn said in a memo to employees.
Why Prices Of Basic Items Soar In Nigeria Despite Petrol Cost Reduction
While inter-state travel across the country has been banned by the federal government, vehicles carrying essential supplies, as well as essential personnel, retain unrestricted movement. Effiong said the reality on the ground tells a different story.
Fed could adopt yield curve control
A report by Bloomberg's Liz McCormick and Craig Torres says the US Federal Reserve (Fed) may implement yield-curve control to cap yields on government
WTI strength fizzles around $34.00, API data eyed
WTI retraces from the highest since March 11 while taking rounds to $33.90 during the initial Asian session on Wednesday. While optimism surrounding a
USD/ZAR Price Analysis: Off two-month lows, Bullish RSI divergence on 4H
USD/ZAR pair is sidelined near 17.40 at press time, having hit a low of 17.32 on Tuesday. That was the lowest level since March 27. The pair could see
‘Complete syllabus with online classes’
Chief Minister BS Yediyurappa has directed the Higher Education Department to complete the syllabus by conducting online classes.
Reports: Players balk at MLB's pay-cut proposal
Major League Baseball presented its players union with a revised economic plan for the yet-to-start 2020 season on Tuesday, proposing a sliding-scale of pay cuts, with the top-paid stars due to take the biggest hits.
Bank of Canada urges stores to continue to accept cash
Even before the COVID-19 pandemic, consumers had been increasingly using forms of cashless payment such as credit and debit cards, e-transfers and their smartphones to pay for products.
Govt Delivers Security For Construction Subcontractors
Subcontractors will have greater certainty, more cashflow support and job security with new changes to retention payments under the Construction Contracts Act says Minister for Building and Construction, Jenny Salesa.
Ralph Lauren Remains on Offense in COVID-19 Crisis
The coronavirus shutdown in the U.S. caught the tail end of the company’s fiscal fourth quarter, pushing sales down 15 percent.
Teekay Tankers: A Story Of Very Rapid Deleveraging
Teekay Tankers generated over $240M of free cash flow in the last two quarters (the current market cap is below $575M). Strong free cash flow is also expected i
CorVel Corporation's (CRVL) CEO Michael Combs on Q4 2020 Results - Earnings Call Transcript
CorVel Corporation (NASDAQ:CRVL) Q4 2020 Results Earnings Conference Call May 27, 2020, 11:30 AM ET Company Participants Michael Combs - President and CEO Brand
RealNetworks Could Have A Winner
The company's video codecs, Napster and other assorted businesses have lingered, not producing any profits. However, they have a growing gaming business that lo
Autohome Inc.: 3 Reasons Why Stock Price Could Increase By 30% In 12 Months
Weak macro conditions in China from November 2019 (when the first COVID-19 case was diagnosed) made sales of Autohome passenger vehicles to drop by 10% YoY. The
Golden Ocean Group Limited (GOGL) CEO Ulrik Andersen on Q1 2020 Results - Earnings Call Transcript
Golden Ocean Group Limited (NASDAQ:GOGL) Q1 2020 Earnings Conference Call May 27, 2020 09:00 AM ET Company Participants Ulrik Andersen - CEO Per Heiberg - CFO T
Radical Transparency: A (Positive) Spin On Despegar's Q1 Earnings Call
Despegar reported disappointing Q1 results on May 4th, 2020. The company outlined cost-cutting measures and liquidity sufficient to survive an extraordinarily d
Elbit Systems Firing On All Cylinders
The military defense industry is one of the essential industries during crises but Elbit's sentiment and fundamentals are strong offering a safe investment espe
ATS Automation Tooling Systems Inc. (ATSAF) CEO Andrew Hider on Fiscal Q4 2020 Results - Earnings Call Transcript
ATS Automation Tooling Systems Inc. (OTCPK:ATSAF) Q4 2020 Earnings Conference Call May 27, 2020 10:00 AM ET Company Participants Stewart McCuaig - Vice Presiden
Yintech Investment Holdings Limited (YIN) CEO Wenbin Chen on Q1 2020 Results - Earnings Call Transcript
Yintech Investment Holdings Limited (NASDAQ:YIN) Q1 2020 Earnings Conference Call May 27, 2020 8:00 AM ET Company Participants Yvonne Young - Investor Relations
PM signals ‘air bridges’ between countries could be introduced
The UK is to impose a 14-day quarantine requirement for anyone arriving in the country from June 8, but the rules will be reviewed every three weeks.
Tesla Slashes Prices By Up to $5,000 on Almost Every Vehicle Line
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Mint Lite | Foreign fund bond holdings at three-year low and other news to know
Mint Lite is a quick update to bring you up to speed on all the news you need to know—and some things that are just fun to know—in five minutes before you start your day
FBR to facilitate businessmen in tax matters
Budget proposals sent by the Islamabad Chamber of Commerce and Industry (ICCI) would be given due consideration and they would be helpful in finalising the federal budget for 2020-21, said Federal Boa
Paid lodging may soon be an option for transit passengers at Chennai aiport
Government considering setting up facility where they can stay during layovers
‘Pass on repo rate reduction to realty sector’
CREDAI writes to Governor of Reserve Bank of India
E-stamps for judicial uses introduced in Puducherry
The e-stamp system will ensure that only Puducherry court fees stamp papers, printed or issued by the Puducherry government can be used in respect of all original, appellate, revisional, review litigations arising out of the jurisdictional limits of the Union Territory.
Helping supply chains recover
Not a fiscal stimulus, but cutting government expenditure, removing price controls, and opening up trade will help
Markets begin cautious return to normalcy
Gold, textile, footwear shops in Srikakulam and Vizianagaram open for business after two months
Local bodies ready to pay expense
Amid the controversy over charging money from returning expatriates for quarantine facilities, two local bodies ruled by the United Democratic Front in Kozhikode district have written to the governmen
Consumers can now book LPG refills on WhatsApp
A company source said since many consumers were comfortable using the messaging application on their smart phones, the company was offering this option too.
Flights to Kolkata from Mumbai to begin today
No flights to Chennai, Goa till May 31
Lockdown-hit farmers in Prakasam press for loan waiver
The All India Kisan Sangharsh Coordination Committee in Prakasam district has urged the Centre to announce a special financial package for farmers who are struggling to cope with the lockdown imposed
Flights to Kolkata from Mumbai to begin on May 28
No flights to Chennai, Goa till May 31
Lockdown helps SCR in track maintenance
Work completed on 984 km of the total track of 6,336 km under its control
Enjoying the fruits of their labour
Farmers deserve the freedom to market their produce at a place of their choice
G.R. Chintala is new chairman of NABARD
G.R. Chintala is the new chairman of the National Bank for Agriculture and Rural Development (NABARD). He has served in various capacities in the bank, including as managing director, NABARD Financial
PMLA court sends Wadhawan brothers to judicial custody till June 11
Kapil Wadhawan and Dheeraj Wadhawan, promoters of Dewan Housing Finance Limited (DHFL), were produced before a special Prevention of Money Laundering Act (PMLA) court by the Enforcement Directorate on
ED files cases over seizure of drugs
The Enforcement Directorate recently registered over 20 money-laundering cases in connection with the seizure of drugs by various enforcement agencies in Punjab. The findings may be incorporated in th
MSMEs in Visakhapatnam get first instalment of pending incentives
AP Chambers lauds Chief Minister’s initiative
Takumi Minamino's text messages to old boss about his Liverpool team-mates
Salzburg manager Jesse Marsch has kept in touch with Japan international Takumi Minamino via text message ever since his £7.25million January transfer to Liverpool
Wall Street frets as ‘unloved’ stock rally powers on
While the benchmark S&P 500 index has surged 34 per cent from its March lows and the Nasdaq Composite is just 6 per cent short of record highs, investors are more bearish than they have been in years
PM signals ‘air bridges’ between countries could be introduced
The UK is to impose a 14-day quarantine requirement for anyone arriving in the country from June 8, but the rules will be reviewed every three weeks.
LiquidX Rolls Out Partner Program To Help Banks With Trade Finance
LiquidX is rolling out a new platform that offers supply chain finance, trade credit insurance and account receivables to corporate bankers.
Visa Taps Chris Newkirk To Serve As Chief Strategy Officer
Chris Newkirk is coming to Visa Inc. as its new chief strategy officer.
Making commercial laws in Kenya adaptable to deal with pandemic
ANJARWALLA & KIUNUHE: Making commercial laws in Kenya adaptable to deal with Covid-19
Oshodi-Abule-egba BRT to commence operation in July, says Lagos govt
Lagos State government has said that the Oshodi to Abule Egba Bus Rapid Transit (BRT) route have been completed and operation would commence on that route by July 2020.
Covid to accelerate rebound in small cars, rural market: Maruti
Even as it re-starts nearly 2,000 dealerships across the country, automobile giant Maruti Suzuki India will go into a high gear to tap the rural market.
Recruitment resumes at Kainos as Belfast IT firm reassesses the scale of new HQ
RECRUITMENT has resumed at IT services firm Kainos, its chief executive has said.
Harland & Wolff joins forces with Navantia to form new defence challenger
HARLAND & Wolff has joined forces with Spanish shipyard and trusted NATO partner Navantia to form a unique shipbuilding collaboration which will bid for a range of contracts, including UK Ministry of Defence work.
Bihar, UP outperform most states, Maharashtra tops with 15.26 lakh MSME registrations
As per data compiled by the Ministry of Micro, Small and Medium Enterprises (MSMEs), Bihar ranked number 3 in MSME registration leaving behind the most populous state of Uttar Pradesh and the industrial states of Gujarat and Karnataka
Cash payments declining as contactless methods become the norm - experts
COVID-19 has accelerated the shift away from cash.
Hong Kong's future as China's gateway to the West is under threat
China plans to enact new security laws for Hong Kong this week, despite threats from the US that could wreck Hong Kong's status as a global financial and trade centre.
Top Stock Reports for Alphabet, Visa & Bank of America
Today's Research Daily features new research reports on 16 major stocks, including Alphabet (GOOGL), Visa (V) and Bank of America (BAC).
EU Has Bigger Problems to Worry About Than Gridlock Over Brexit
(Bloomberg) — When Boris Johnson boasted last year he’d got “Brexit done,” weary European governments were only too happy to go along with it.
COVID-19, Agric-business and food security - The Nation Nigeria
It was Martin Luther King. Jr. who famously declared that; "we are now faced with the fact that tomorrow is today. We are confronted with the fierce
Covid Impact: Over 4,400 jobs cut by 5 major Indian companies in 1 month
In total, five companies — Uber India and South Asia, Ola, Zomato, Swiggy and Cure.fit — have together announced the reduction of around 4,441 jobs in the last one month.
As Shramik Special trains ‘stray’, Railways notifies ‘route rationalisation’ to explain diversions
The diversions have been done so that trains are not held up at one place for hours without water and food, a senior Railways official told The Indian Express.
Ringgit strengthens against US dollar in early trade
KUALA LUMPUR, May 27 — The ringgit strengthened against the US dollar at the opening today on renewed buying interest amid stabilising oil prices, said an analyst. At 9.02am today, the local note was quoted at 4.3450/3600 compared with Friday’s close of 4.3610/3690. The market was closed on...
Japan eyes fresh US$1.1t stimulus to combat pandemic pain
TOKYO, May 27 — Japan will compile a fresh stimulus package worth US$1.1 trillion (RM4.8 trillion) that will include a sizable amount of direct spending to cushion the economic blow from the coronavirus pandemic, a draft of the budget obtained by Reuters showed today. The stimulus, which will be...
Queues and limited browsing in store for English shoppers
LONDON, May 27 — People eager to hit the shops again when English high street retailers, department stores and shopping centres reopen will face queuing and few opportunities to try products. Stores will look and operate very differently from how they did before a coronavirus lockdown was imposed...
Markets will clear the froth, warn value investing apostles
The closely watched GMO fund is starting to short global equities in the belief that the latest price surge is treacherous.
Home building down 1.6pc, with worse to come
Residential construction slowed to 1.6 per cent in the first three months of the year - the slowest rate of decline since March quarter last year - but economists expect GDP will still be negative for March.
NPA senior staff empowers members, others with COVID-19 PPEs
THE Senior Staff Association of Statutory Corporations and Government Owned Companies, SSASCGOC, Nigerian Ports Authority,
800 export consignments stranded at Lagos ports
ABOUT 800 export consignments have been stranded for weeks at the various export terminals in Lagos ports. Though the cause of the developmen
India’s weekly unemployment rate continues to be over 24%: CMIE
As on May 25, India’s average unemployment stood at 24.5 per cent, where urban unemployment was at 26.3 per cent and rural at 23.7 per cent.
Gold Price News and Forecast: XAU/USD bears pause around two-week low above $1,700
Gold consolidates losses near the lowest since May 13 while taking rounds to $1,711/12 amid the early Asian session on Wednesday. The bullion dropped
USD/CNY hits highest since September 2019 as US threatens sanctions
China's Yuan is taking a hit on Wednesday amid the dragon nation's rising tensions with the US and India. The USD/CNH pair is trading at 7.1565 at pre
Pound Sterling Price News and Forecast: GBP/USD's 50-day EMA, 11-week-old resistance line in focus
Having flashed over 1.0% gains the previous day, GBP/USD buyers catch a breather around 1.2330/35 amid the early Asian session on Wednesday. While bul
Gold Price Analysis: Bounce from sub-4H 200-SMA has stalled
Gold's overnight drop below the 4-hour chart 200-candle simple moving average (SMA) was short-lived, possibly due to US-China tensions. Technical char
ASX 200 Index holds at a 50% mean reversion, Hong Kong risks loom
Australian shares are struggling to extend the prior day's gain as the world gets back to the elephant in the room which is Hong Kong and US/Sino trad
Covid-19 package — World and India
Thomas Carlyle called economics “a dismal science”. Multiple opinion production by dismal economic scientists continued into the 21st century.
'Rally of hope': Why the S&P soared back past 3,000
Unthinkable just two months ago as the world economy shut down in response to the coronavirus pandemic, the U.S. stock benchmark S&P 500 index ...
Italy's RCS says it may win damages in dispute with Blackstone after ruling
Milan's Arbitral Tribunal has judged that the contracts over the sale of Italy's RCS headquarters to Blackstone in 2013 were valid but found ...
Serie A asks TV rights holders to make final payment for this season
MILAN: Italy's top flight soccer league Serie A said on Tuesday that broadcast rights holders must pay the final instalment for the current ...
Blackstone risks paying damages in dispute with Italy's RCS
Milan's Arbitral Tribunal has judged that the contracts over the sale of Italy's RCS headquarters to Blackstone in 2013 were valid but found ...
Warren Buffett June Update: 46 Equities Show 10 To Buy And Hold Now
This Buffett list from Dogs of The Dow first appeared 5/20/20 online. YCharts also tracks this Buffett/Berkshire Batch. Here is your update as of 5/22/20. 30 of
Active Managers Continue To Flounder
Hot money managers underperform their benchmarks once they are identified. Actively managed funds liquidate or change style with high frequency. Recent data rei
My Top New England Bank Pick For The 2020s
Earlier this month, I had the opportunity to talk with Curtis Simard, President/CEO of Bar Harbor Bank & Trust, a $3.67 billion bank operating in Maine, Vermont
Air apparent: Hungarian carrier Wizz targets Gatwick hub to take on Ryanair
Wizz Air is plotting a major expansion at London Gatwick as rival carriers pull back, paving the way for the Hungarian low-cost carrier to emerge from the travel downturn with a bigger presence in the world's busiest city for passenger traffic.
Florida revenues fall by nearly $900 million amid pandemic
The state of Florida might have lost nearly $900 million in tax revenues in April, as the coronavirus pandemic siphoned away tourist dollars and other revenues from the state’s coffers.
Deliveroo faces another legal action over an alleged unfair dismissal of deliver rider | ZDNet
The Australian food delivery rider had worked with Deliveroo for three years before his contract was terminated.
Boeing’s India operations to be largest outside US
India Business News: American aerospace major Boeing expects to have the largest presence out of its home country in India — in terms of manpower deployment and component
Government may get RBI to monetise deficit
India Business News: The Centre is likely to look at the option of the Reserve Bank of India (RBI) monetising the deficit in the second half of the financial year, a senio
Cognizant will ask 400 more executives to leave
India Business News: The churn at Cognizant will continue. Around 400 executives holding the title of directors, senior directors, associate vice-presidents (AVPs), VPs an
Maharashtra: Nashik farmers unable to sell onions at fair prices
Farmers in Nashik have said that they are facing losses as they are unable to sell onions at fair prices.'Our earnings are not even supporting the expense of fuel to carry them to market,' a farmer said
Lockdown Impact: As states lose revenue, here's why they turn to alcohol
Indian states have been wanting to lift ban on the sale of liquor since the implementation of lockdown in the country. The state governments have been running out of money to sustain their fight against novel coronavirus.
China at it, again
Unusual aggression in Ladakh, the worst since Doklam, shows our neighbour is bent on arm twisting us in a post-pandemic world China is becoming as vindictive as the US in getting its way with the world or countries that are dependent on its still viable factory floors. And it has chosen to get
Aviation services on path to normalcy
Mumbai operates 44 flights out of the allocated 50, catering to 4,224 passengers
What India must do to increase its competitiveness
Time-bound reforms would have a significant impact on competitiveness
Big companies to get bigger after Covid: BofA Securities
The infrastructure and real estate sector could witness the emergence of new asset owners such as sovereign wealth funds, pension funds and private equity players.
Covid-19: Catch up to trend-GDP difficult in three years
However, this time around, things could be different, the agency said, alluding to the fact that the loss of GDP this time around could be much steeper.
E-commerce transactions grow up to 25% in second week of May
Harshil Mathur, CEO and co-founder, Razorpay, said with the situation starting to ease out in parts of the country, the payments firm has seen a spike in transactions in the last few days, particularly in e-commerce.
RBI to auction 84-day CMBs worth Rs 80,000 crore
CMBs are used to meet the temporary mismatches in the cash flow of the government. This instrument has the generic character of treasury bills but is issued for maturities less than 91 days.
How India can push its dairy cart ahead
The future of dairy in India hinges on modernising infrastructure, and giving the sector a technological face-lift
Kotak Mahindra Bank set to raise Rs 7,460 crore through share sale
The bank also informed that meeting of the issuance committee of the board is scheduled to be held on May 29 to approve the issue price.
Demand for housing sector will come back in medium term, says HDFC CEO Keki Mistry
Now, historically, whenever there has been any kind of stress in the market, NPLs tend to go up in short term, but once the stress get alleviated, NPLs come down to the normal levels.
Mumbai spirited with Liquor supply back to door steps
Thought the liquor home delivery started in Mumbai and the huge orders are placed from city, but in spite of ban liquor availability of any brand
Mumbai finally restored to home delivery of liquor
One in two orders placed for home deliveries of alcohol in Maharashtra came from Mumbai this week.
House of Reps to NDDC IMC: Blackmail won’t stop us from probing you
The Chairman of the Committee, Hon. Olubunmi Tunji-Ojo, gave the assurance while addressing newsmen in Abuja in response to various allegations levelled against the National Assembly and himself by Dr. Cairo Ojougboh, IMC Executive Director, Projects, on a television station on Monday
Stockholm-based Doktor.se nabs €45 million for its ‘digi-physical’ care
Today Swedish e-health startup Doktor.se, which offers digital consultations to patients through its smartphone app, announces that it has secured €45 million in a Series C round led by Carnegie and Handelsbanken. Many of Doktor.se's existing investors, as well as new investors, are participating in
Best of BS Opinion: India-China relations, the Covid curve, and more
Here is a summary of Business Standard opinion pieces for the day
City of Amarillo’s sales tax revenue seeing potential decrease of $4 million
Now that the City has received the March sales tax revenue numbers, City Finance Director Laura Storrs says Amarillo is projecting a decrease of millions.
French optical maker Essilor bets on business rebound as India eases COVID-19 lockdown
Along with its associate companies, Essilor employs 5,000 people in India and exports optical products to Europe, the US and Canada.
Tesla to cut car prices in North America, China
The price cut comes as states after lockdowns during which demand for cars waned.
Americas will be hardest hit by COVID-19 job losses: ILO
The Americas, meanwhile, had jumped from being the least affected region in labour market terms in the first quarter to being the most affected, with an expected 13.1 percent drop in working hours in the second, ILO Director-General, Guy Ryder, told a briefing.
UCO Bank slashes lending rate by 40 basis points
The government expects banks to reduce lending rates, which is required to kick start the economy hit hard by the coronavirus-forced lockdown, among other factors.
Coronavirus impact: Punjab seeks Rs 51,102 crore fiscal stimulus from Centre
A draft memorandum to this effect was approved on Wednesday by the Council of Ministers at a meeting chaired by Chief Minister Amarinder Singh, an official statement said.
Ola Financial Services raises Rs 205 crore from Matrix Partners, others
Gemini Investments LP, Arun Sarin's family office, and Alpha Wave Holdings also participated in the round, according to the documents.
Drugmaker Sanofi to raise over $11 billion via sale of Regeneron shares
Earlier this week, Regeneron had said it would repurchase about $5 billion of its shares directly from Sanofi, without altering their over-a-decade-long partnership.
RBI's 7.75 percent Savings (Taxable) Bonds 2018: Subscription to stop from May 28
“The Government of India 7.75% Savings (Taxable) Bonds, 2018 shall cease for subscription with effect from the close of banking business on Thursday, the 28th of May, 2020,” RBI said in a release.
Oil slides on US-China tensions, doubts about Russian output cuts
The group known as OPEC+ is cutting output by nearly 10 million barrels per day (bpd) in May and June. Some question whether it will continue to do so as demand recovers after many countries ease coronavirus lockdowns.
China's efforts to bring citizens back from India have nothing to do with border tension: Global Times
Global Times, considered Chinese government's mouthpiece, has said that the “voluntary repatriation plan” should be seen a “normal service” and should not be linked to the ongoing border tension.
NTPC to foray into distribution, keen to buy majority stake in BRPL, BYPL
This assumes significance because NTPC is primarily power generation company.
Nokia shuts Tamil Nadu plant after 42 employees test positive for COVID-19
Nokia did not disclose how many workers at the Sriperumbudur plant tested positive, but a source familiar with the matter said they were at least 42.
India may need to pump $20 billion into coronavirus-hit state banks
The capital plans were still being discussed and a final decision could be taken in the second half of the fiscal year, a second government source said.
G R Chintala takes over as NABARD chairman
Chintala replaces H K Bhanwala, who headed the organisation for more than six years.
Brokerages upgrade these 15 stocks to buy, expect 11-75% returns in a year
This war between USA & China may intensify further & may take ugly shape going forward, which may change World Power Equation post-COVID-19 era, Amit Jain of Ashika Wealth Advisors said.
Glenmark gets USFDA nod to market generic drug for muscle pain
Glenmark Pharmaceuticals Inc, USA has been granted final approval by the US Food and Drug Administration (USFDA) for Chlorzoxazone tablets USP, in strength of 375 mg and 750 mg, the drug maker said in a statement.
‘Certainly not an eye-wash’: Nobel-winning economist Abhijit Banerjee on Centre's Rs 20 lakh crore stimulus
The Nobel laureate has voiced hope that the Centre's economic relief package will boost the supply side which will drive economic recovery.
The going will get tougher for the Indian automobile sector; here's why
In the long run, more solid reforms might be needed to help auto sector be able to walk without the crutches that government might be able to give it.
Volkswagen India introduces leasing, flexible financing options to drive sales amid COVID-19
Under its omni-channel mobility solutions, the company has integrated 'Power Lease' -- a 'pay-for-usage' model complete with zero down payment scheme -- with Volkswagen Secure which allows customers to purchase a Vento or a Tiguan Allspace model with flexible down payment and low EMI, including insurance coverage for a tenure of three or four years.
Crude oil futures up 0.62%, WTI trades above $34 a barrel
In the futures market, crude oil for June delivery touched an intraday high of Rs 2,606 and an intraday low of Rs 2,544 per barrel on MCX.
NCLT approves IL&FS stake sale in GIFTCL to Gujarat govt
The order said that IL&FS had sought that an amount of Rs 61.84 lakh is excluded as resolution process costs incurred for meeting various expenditures, other applicable taxes from the sale proceeds of the applicant's shareholding in GIFTCL to the Gujarat government.
Natural gas futures up 0.54% in evening trade
In the futures market, natural gas for June delivery touched an intraday high of Rs 150,30 and an intraday low of Rs 146.80 per mmBtu on MCX.
Paytm allows Vodafone Idea feature phone users to recharge using UPI
Paytm said it has partnered Vodafone Idea and National Payments Corporation of India (NPCI) to allow feature phone users to recharge their numbers using UPI.
Private jet demand rises as wealthy Russians spend lockdown in West
Passengers are heading for countries such as Britain and Cyprus where they own property, have residency rights, sometimes thanks to holding dual nationality, or have close relatives, according to industry sources.
ICRA expects muted participation in spectrum auction, sees industry debt rising
Despite the anticipated improvement in the cash flow generation in the current financial year post the tariff hikes, the debt coverage metrics is expected to continue to remain weak given the unyieldingly high debt levels, it said.
Cash holdings of PMS schemes decline in April: Report
However, 13 PMS schemes also recorded an increase in cash holdings in April over March
Aditya Birla Fashion and Retail posts Q4 net loss of Rs 146.59 crore
Revenue from operations during the quarter under review stood at Rs 1,831.88 crore. It was at Rs 1,915.31 crore in the year-ago period, ABFRL said in a regulatory filing.
Planning to invest now? Here’s how you can build a Rs 5,00,000 ‘Atmanirbhar' portfolio
Investors should ideally place small amounts in different sectors to take advantage of the multiplier effect which the economic package could have over a period of time.
States should come forward with Rs 20 lakh crore to battle COVID-19 disruptions: Nitin Gadkari
Gadkari said the economy is facing serious problems, businesses are being closed and unemployment is growing. All sections of the society, whether migrants, media, business persons or employees, are facing problems, but ultimately
Need for growing NDB into global development institution: FM Nirmala Sitharaman
She commended the contribution of NDB in funding the infrastructure development, which has positively impacted the development agenda of the member countries, including India.
Boeing set to announce significant US job cuts this week
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.
KPIT Technologies Q4 net profit rises 23.3% to Rs 38.1 crore
Its revenue from operations stood at Rs 556.2 crore in the reported period, up 10.9 percent from Rs 501.2 crore in the March 2019 quarter, it added.
ICC Board Meeting: World T20 to be postponed to 2022, October window for IPL
The decision, if it is formalised, owing to the COVID-19 pandemic will give members a chance to chalk out their bilateral blue-print in the coming months.
COVID-19 impact | IDFC First Bank announces pay cuts for senior management
IDFC First said its senior management has volunteered to take a 10 percent cut in compensation for 2020-21.
Silver futures dip 0.44% in afternoon trade
In the futures market, silver for July delivery touched an intraday high of Rs 47,847 and a low of Rs 47,370 per kg.
Boeing slashes 12,000 jobs as coronavirus seizes travel industry
The layoffs are expected to be concentrated in the Seattle area, home to Boeing's commercial-airplanes business.
United Spirits Q4 down 57.8% to Rs 49.3 crore
The company had posted a net profit of Rs 116.9 crore in the January-March quarter a year ago, United Spirits Ltd (USL) said in a regulatory filing.
Investor wealth surges by Rs 2 lakh crore as markets rally
Led by the rally in equity market, the market capitalisation of BSE-listed companies soared Rs 2,01,549.38 crore to Rs 1,23,62,539.79 crore.
India loses crown to Indonesia as Honda’s biggest two-wheeler market
HMSI’s FY20 domestic sales are back to the same level as FY17 when the company had sold 4.72 million units in the domestic market
Sensex jumps 1,000 pts, Nifty above 9,300; 4 key factors behind the rally
Experts indicate that the bargain hunting in banks and financial counters gave a fillip to the market.
India should avoid understanding Beijing through 'biased' US lens, says Chinese strategic analyst
In the article, he also accused India of starting the latest standoff, alleging that it was a
Wall Street opens higher on recovery optimism
The Dow Jones Industrial Average rose 303.52 points, or 1.21 percent, at the open to 25,298.63.
Tesla cuts prices by as much as 6% in North America to boost demand
Auto retail sales in the United States likely halved in April from a year earlier, showed data from J.D. Power.
Arogya Sanjeevani: Low-cost insurance, but a regular health cover works better
Existing health insurance plans offer far more features and benefits, but come with higher premiums
Buy USDINR; target of 76.00 - 76.20: ICICI Direct
ICICI Direct The rupee again approached its sizeable Call base of 76. We feel a close above these levels would open the gates for more upsides. However, looking at the consolidation in Dollar index we feel, the rupee will remain in a range.
Aditya Birla Fashion & Retail plans Rs 1,000 crore rights issue
Aditya Birla Fashion & Retail is the country's largest pure-play fashion and lifestyle player with a strong bouquet of fashion brands and retail formats with a network of over 3,040 stores, and presence across 25,000 multi-brand outlets across the country.
L&T delivers critical nuclear power plant equipment to global customers during lockdown
The company's heavy Engineering arm delivered these equipment to global clients in Abu Dhabi, France and other places, Larsen & Toubro said in a statement.
Titan Company shares down 2% as COVID-19 hits businesses
The company said the lockdowns posed challenges to all its businesses.
Adani Ports & SEZ raises Rs 500 crore through allotment of NCDs
It allotted 5,000 non-convertible debentures (NCDs) of the face value of Rs 10 lakh each, the company said in a BSE filing.
Tata Investment Corporation posts net loss of Rs 36.75 crore in Q4 FY20
Total revenue from operations in the quarter under review stood at Rs 21.41 crore as compared to Rs 24.59 crore in the corresponding period a year ago.
It is India's hour to shine, but will it?
If India manages to overcome its long-pending issues around multiple approvals, licenses, permits, an overload of documentation and reporting, then India has a chance to leave an indelible mark on global trade in the coming decade.
Dabur's Q4 net profit falls 24% YoY; domestic volume declines at 14.6%
Consolidated EBITDA stood at Rs 352.3 crore against CNBC-TV18 poll of Rs 475 crore while EBITDA margin came at 18.9 percent against CNBC-TV18 poll of 21.8 percent.
Tech selloff weighs on S&P 500, Nasdaq
Amazon.com, Microsoft Corp and Facebook Inc, which have led a recent rally, weighed on the tech-heavy Nasdaq, while healthcare and technology stocks - which outperformed in the coronavirus-led market slump - were among the S&P 500 sector indexes in the red.
World economic prospects darken, rebound delayed: Poll
With many countries starting to ease lockdown restrictions imposed to stop the spread of the virus, which has infected over 5.5 million people globally
Mercedes-Benz launches C 63 AMG Coupe and AMG GT R, company says planned launches on track
The launch of its first all-electric car EQC has suffered a delay due to the nationwide lockdown.
Future Lifestyle Fashions share price down 2% as board mulls fund-raising plan
Future Group faces high promoter debt, sharp fall in share prices and cash flow woes, all of which have been exacerbated by the COVID-19 outbreak.
Govt may launch coal blocks auction process under commercial mining on June 11
The government last week approved a methodology for commercial mining of coal on revenue sharing basis.
EU Commission proposes €750 billion recovery fund in wake of Covid-19 crisis
The European Commission is proposing a €750 billion recovery fund to reboot economies hit hard by the coronavirus outbreak, EU officials said on Wednesday.
Boeing set to announce significant US job cuts this week
Boeing Co is expected to announce U.S. job cuts this week after disclosing last month it planned to shed 10per cent of its worldwide workforce of ...
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 ...
Boeing set to announce significant US 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 10per cent of its worldwide workforce of ...
Buy Carrier Global As Potential Asset Sales Will Reduce Debt
Recent trading multiple compression due to the coronavirus. Potential asset sales to reduce indebtedness. Strong trends in the residential HVAC replacement cycl
Intuitive Surgical: The Growth Leader In Surgical Robotics
Intuitive Surgical is the global leader in surgical robotics. The company has produced outstanding growth rates in both revenue and cash flow over the years. In
Open Banking moves from compliance challenge to commercial opportunity
European financial institutions are spending between €50-€100 million on Open banking initiatives, with spend exceeding €100 million for nearly half (45%) of 290 financial institutions surveyed by Swedish account aggregator Tink.
One in four retail branches to close in Europe as digital interactions mushroom - Kearney
As many as 40,000 bank branches will close across Europe in the next three years, as increasing numbers of customers turn to digital channels, according to a study by consultancy Kearney.
Amazon is reportedly in talks to buy secretive self-driving car company Zoox for less than $3.2 billion
Zoox hinted it's had interest from multiple buyers.
Sebi again extends deadline to apply for 147 senior level vacancies amid Covid-19
India Business News: Markets regulator Sebi has again extended the deadline to apply for the post of 147 senior-level executives by two months till July 31 in the wake of
BCCI confident ICC won't commit harakiri by taking away 2021 T20 World Cup
Cricket News: The ICC has in fact threatened that they can take away the 2021 T20 World Cup if the board fails to provide the exemption. But BCCI officials believe
John Lewis reveals first stores to reopen doors on June 15
The retailer said it will reopen two stores on Monday June 15, followed by a further 11 sites on Thursday June 18.
CEO pay tops $12.3M
The typical pay package for CEOs at the biggest U.S. companies topped $12.3 million last year, and the gap between the boss and their workforces widened further, according to AP’s annual survey of executive compensation.
Farmers' Market returning
The Penticton Farmers' Market will be re-opening its outdoor market this Saturday, May 30, taking over its usual spot in the 100 block of Main Street.
Boeing slashes 12,000 jobs
Boeing is cutting more than 12,000 jobs through layoffs and buyouts as the coronavirus pandemic seizes the travel industry, and more cuts are coming.
Proposed Kannapolis budget has no fee or rate increase
Kannapolis City Manager Mike Legg presented the recommended Fiscal Year 2021 budget to the Kannapolis City Council Tuesday evening.
Staffing giants join forces to decode COVID-19 puzzle
Give a clarion call: ‘Help India Get Back to Work Safely’
Tokens for free June rations to be distributed from May 29
In a an official release on Wednesday, Chief Minister Edappadi K. Palaniswami said the tokens would bear the specific date and time of when consumers could go to their ration shops and get their supplies from June 1
How travel and holidaying will change in the new normal
From contactless travel to immunity passports and open-dated stay packages, the Indian tourism and hospitality sector is exploring a range of options to breathe life into a stalled business
Sebi again extends deadline to apply for 147 senior level vacancies amid Covid-19
NEW DELHI: Markets regulator Sebi has again extended the deadline to apply for the post of 147 senior level executives … Sebi again extends deadline to apply for 147 senior level vacancies amid Covid-19 Read More »
Bank of Montreal profit slumps more than 50% as credit losses loom
Bank of Montreal set aside $1.12-billion for future loan losses, up sharply from $176-million a year earlier
Oil falls on U.S.-China tensions over Hong Kong
Brent crude fell 45 cents, or 1.2 per cent, to $35.72 a barrel by 0906 GMT and U.S. West Texas Intermediate (WTI) crude was down 26 cents, or almost 1 per cent, at $34.09
EU proposes $825-billion coronavirus recovery fund
The EU remains deeply divided over what conditions should be attached to the funds, and Wednesday’s proposal from the bloc’s executive arm is likely to set off weeks of wrangling
US shoppers to be wooed back with steep discounts
Retailers including Macy’s prepare for sales after writing down value of merchandise
Renault and Nissan scrap Ghosn strategy in move to slash costs
Carmakers rule out merger and ditch longstanding sales targets as alliance with Mitsubishi switches focus
John Lewis reveals first stores to reopen doors on June 15
The retailer said it will reopen two stores on Monday June 15, followed by a further 11 sites on Thursday June 18.
Companies Act amended to make PM CARES Fund eligible for CSR contributions
Until now, only the Prime Minister's National Relief Fund was eligible to receive CSR funding.
Debt downgrades can push India bank fund raising to $20 billion
State-run banks will need $13 billion from the government to recapitalize.
India initiates anti-dumping probe into imports of polyester yarn from 4 countries
India has initiated a probe into alleged dumping of polyester yarn, used in the garment industry, from China, Indonesia, Nepal and Vietnam, a move aimed at guarding domestic players from cheap inbound shipments. The probe was launched following a complaint by eight domestic manufacturers, including Suryalakshmi Cotton Mills and Suryalata Spinning Mills.
Aditya Birla Fashion plans Rs 1,000 crore rights issue
Aditya Birla Fashion & Retail is the country's largest pure-play fashion and lifestyle player.
States should come forward with Rs 20 lakh cr to battle COVID-19 disruptions: Nitin Gadkari
"More liquidity needs to be pumped in the market to boost the coronavirus-hit economy and states should come forward with Rs 20 lakh crore, while another Rs 10 lakh crore can be harnessed from public-private investment," Road Transport, Highways and MSME Minister Gadkari said.
Official employment survey may capture migration
The ministry of statistics and programme implementation is examining changes that may need to be carried out to assess the extent of unemployment post the reverse-migration in the Periodic Labour Force Survey. The idea is to get a better sense of employment as migration from cities, post-Covid pandemic and lockdown, has been in large numbers.
Boeing set to announce significant US job cuts this week: Union
In April, Boeing chief executive Dave Calhoun said the company had “begun taking action to lower our number of employees by roughly 10 percent".
Japan eyes fresh $1.1t stimulus to combat pandemic pain
The stimulus, which will be funded partly by a second extra budget, will be on top of a $1.1 trillion package already rolled out last month.
McDonald's sets exact date every branch in UK will reopen
More than 1,000 are throwing open their drive-thru lanes
Fiscal Advisory Council warns debt will be 'almost at historic highs' after COVID-19 crisis
The acting chair of the Irish Fiscal Advisory Council has said the debt ratio here will be 'almo...
Mukesh Ambani's Jio listing can profit from US-China tech war
Will Wall Street be so hospitable as to give Ambani, say, a $100 billion valuation?
View: Can India benefit from the world’s frustration with China?
India lacks the sophisticated infrastructure which gives China an edge in manufacturing.
'Lift your game or go': APRA ups pressure on super funds to merge
'Lift your game or exit the industry' is the message from the prudential regulator.
Bank stocks rake in $17 billion as investors revel in recovery party
Portfolio managers are coming to the view it's a bigger risk to be underweight bank shares as investor sentiment on the sector switches from negative to positive.
Another two Grow Super staff stood aside amid Dally M scandal
Two staff at Grow Super have been stood aside amid a police probe into a betting plunge on the Dally M.
[Market Close-up] S. Korean stock market recovers faster than its global peers
Buttressed by the buying spree of retail investors and expansion of liquidity, South Korea’s stock market recovered to the psychologically important 2,000-point mark, rebounding faster than other major stock markets around the world. According to the Korea Exchange, the Kospi reached 2,029.78 points at Tuesday’s close, 12 weeks after last posting above the 2,000-mark on March 6, when it closed at 2,040.2...
Stripe launches in five new European countries
Expansion, which is being led by Dublin office, means company now in 39 countries
Largan sells China plant
Smartphone-use lens module maker Largan Precision has taken a major step in expanding capacity in Taiwan by remitting back about NT$11 billion (US$367 million) in income from selling its Suzhou, China plant.
Server PCB makers see bright shipment prospects for 3Q20
Server PCB specialists Tripod Technology, Gold Circuit Electronics (GCE) and Allied Circuit have seen clear order visibility through the end of July and are optimistic that their shipments for servers and networking equipment will remain robust throughout the third quarter, according to industry sources.
Sasol says fuel stations not up for sale
Central Energy Fund denounces reports of it wanting to buy Sasol’s stations.
Virgin Atlantic suitors narrow with clock ticking on rescue
Ailing airline in need of emergency funding.
Online UK grocery spending hits record in lockdown shopping spree
Overall UK grocery sales increased by 13% year-on-year
India’s worst recession is here, says Crisil
CRISIL also foresees economic activity in states with high Covid-19 cases to suffer prolonged disruption as restrictions could continue longer.
Stocks in focus: RIL, Bharti Airtel, Sun Pharma, Titan, United Spirits among others to remain in news
Dabur India, Sun Pharmaceutical, Aditya Birla Fashion, JP Associates and Tata Investment Corporation are among 21 companies that slated to announce their March quarter earnings today.
Privatisation of discoms an opportunity, says JSW Energy CEO
The scenario for FY21 will depend on economic recovery defined by three factors: how the MSMEs are going to perform, the issue of migrant labour, and the rate of spread of Covid-19, said Prashant Jain.
Axis Bank soars 15% on report PE firm Carlyle could pick 8% stake
The private equity firm Carlyle may infuse $1 billion to own up to 8 per cent of Axis Bank, report suggest.
Drugmaker Sanofi to raise over $11 billion via sale of Regeneron shares
Earlier this week, Regeneron had said it would repurchase about $5 billion of its shares directly from Sanofi, without altering their over-a-decade-long partnership
Oil falls on demand concerns, US-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 the
Global spending on oil to drop by $1 trillion in 2020 says IEA
Investment in energy sector will see its biggest drop this year says the agency
Coronavirus: Carrefour launches ‘click and collect’ service in the UAE
Online customers can now collect their orders from select locations
Super funds lose access to matching feature over fraud fears
Superannuation funds have had their access to SuperMatch suspended over concerns about fraud.
Asia stocks mixed on uncertainty over Hong Kong security law
Asian stock markets were mixed Wednesday as U.S.-Chinese tension over Hong Kong competed with optimism about recovery from the coronavirus pandemic.
Global energy investment to drop by $400bn
An IEA report indicates that Covid-19 has set in motion the largest drop in global energy investment in history from fossil fuels to renewables and efficiency.
Gold hits 2-week low on optimism around reopening of economies
Spot gold dipped 0.3% to $1,705.94 per ounce by 0502 GMT, after hitting its lowest level since May 13 of $1,703.40 earlier in the session. US gold futures were down 0.6% to $1,695.80.
Lufthansa supervisory board unable to approve bailout package
Lufthansa's supervisory board was unable to approve a 9-billion euro (US$9.90 billion) bailout in light of conditions imposed by the European ...
Lufthansa supervisory board postpones approval of bailout package
Lufthansa's supervisory board was unable to approve a 9-billion euro (US$9.90 billion) bailout in light of conditions imposed by the European ...
B2W - Gain Exposure To The Brazilian Online Retail Sector
Brazilian e-commerce has been growing at 11.1% for the past two years and is projected to grow by 5.5% for the next three years without considering the effects
Charter's Q1 2020: Gushing Cash After Integrating TWC
With 2 large acquisitions almost integrated, capex is falling and FCF is up. The internet segment is the key driver, but a slowdown in fleeing TV and voice cust
Broadwind Has Towering Potential And A Not So Towering Valuation
Broadwind's 1Q20 report was stronger than expected. In the wake of the quarterly call we spoke with the company to address a few additional questions we had. We
SPDR Portfolio S&P 500 Growth ETF's Exposure To Technology Stocks Is Advantageous
SPYG invests in large-cap growth stocks in the S&P 500 Index. The fund’s relatively lower exposure to cyclical sectors is advantageous as the impact of COVID-19
Mohawk Industries: Not A Convincing Investment
Mohawk is trading on a forward sales multiple of 1.08, below their long-term average of 1.3x. 2018 and 2019 were tough years for the business and industry. We b
Teekay LNG: Attractive Long-Term Cash Flow Visibility Will Move The Needle
Teekay LNG Partners reported solid results with record-high Q1 2020 adjusted net income (7th consecutive quarterly increase). Importantly, the TGP IDRs were eli
Exxon Mobil Corporation (XOM) CEO Darren Woods Hosts 2020 Annual Meeting of Shareholders (Transcript)
Exxon Mobil Corporation (NYSE:XOM) 2020 Annual Meeting of Shareholders May 27, 2020 10:30 AM ET Company Participants Stephen Littleton - Vice President of Inves
David Jones speeds up store closures after massive profit plunge
David Jones will accelerate plans to close some of its 48 stores after the coronavirus slashed sales by 35.8 per cent.
Government negotiating to cut National Broadband Plan rollout from seven to five years
The government has asked the National Broadband Plan firm to shorten the rollout period from seven to five years.
Boeing restarted 737 Max production just hours after saying it would lay off thousands of workers
Boeing said it had resumed construction of the 737 Max at its Renton, Washington, plant, just hours after announcing layoffs.
Vacation rentals around the world have jumped 127% since early April in a sign that people are slowly starting to travel again
A surge in domestic tourism is fueling a rebound in short-term rentals as states begin to ease lockdowns, according to data from AirDNA.
Congress has yet to agree on the latest coronavirus relief package, so don't expect another stimulus check in June
Many Democratic lawmakers are pushing to send more stimulus checks to households, but it's unlikely to happen in June.
HSBC could quit small, non-strategic countries including New Zealand, the Financial Times suggests. HSBC NZ says business constantly reviewed but Asia will continue to be a core engine for business growth
HSBC could quit small, non-strategic countries including New Zealand, the Financial Times suggests. HSBC NZ says business constantly reviewed but Asia will continue to be a core engine for business growth
Saudi Arabia to move for Premier League TV rights to ensure Newcastle takeover
Newcastle's £300million takeover bid has been held up over the Saudi state's alleged involvement with beoutQ, a pirate service that has illegally broadcast Premier League matches
Lufthansa's $15b rescue hits surprise hurdle as board rejects EU conditions
Lufthansa's German government bailout was thrown into doubt after the airline's supervisory board refused to accept the conditions attached by Brussels.
Goldman Sachs warns of a 'start-and-stop' economic recovery
The global economy could be in for a bumpy ride as lockdowns tied to the COVID-19 pandemic begin to ease, says Goldman Sachs president John Waldron.
FIA approves F1's budget cap reduction and handicap system
There will be greater aerodynamic restrictions for the more successful teams in a development handicap system.
Aadhaar-based paperless KYC process allowed for opening NPS account | Personal Finance News
New Delhi: Pension fund regulator PFRDA on Wednesday said it has allowed Aadhaar-based paperless KYC process for onboarding of new … Aadhaar-based paperless KYC process allowed for opening NPS account | Personal Finance News Read More »
Global stocks shake off concern over US-China tensions
Stimulus plans in Europe and Japan trump worries about Beijing’s moves in Hong Kong
IM-SHORAD delayed by pandemic, but first unit equip date remains in place
"We're making adjustments as necessary, and then working with the companies to try and catch up," the head of Army acquisition said Wednesday.
U.S. Stocks Climb to 12-Week High; Treasuries Drop: Markets Wrap
All you need to know about global markets today.
GITU: Fine-tune reforms to make tea growing worthwhile
Start a reserve fund for marketing Kenyan tea as a quality global brand.
Government to seek quicker delivery of broadband plan
The Minister for Communications has said he has asked his officials to examine the feasibility of accelerating the roll out of the National Broadband Plan.
Amid paycuts and layoffs, some companies chose to shield staff during the Covid storm
Tata Consultancy Services (TCS), Wipro, and Infosys have deferred hikes. Reliance and Oyo have cut pays.
Most small businesses remain optimistic on reopening after coronavirus: poll
The majority of small businesses in the U.S. are optimistic about reopening amid the coronavirus pandemic, a new study says. Nearly three-quarters of businesses (74 percent) expect to return to
FIA approves F1 budget caps over next five seasons starting from 2021
The first-ever F1 budget cap will come into force next season at 145million US dollars (£117million), with further cuts in 2022 and 2023-25.
Lufthansa's $15b rescue hits surprise hurdle as board rejects EU conditions
Lufthansa's German government bailout was thrown into doubt after the airline's supervisory board refused to accept the conditions attached by Brussels.
Goldman Sachs warns of a 'start-and-stop' economic recovery
The global economy could be in for a bumpy ride as lockdowns tied to the COVID-19 pandemic begin to ease, says Goldman Sachs president John Waldron.
FIA approves F1's budget cap reduction and handicap system
There will be greater aerodynamic restrictions for the more successful teams in a development handicap system.
Congress has yet to agree on the latest coronavirus relief package, so don’t expect another stimulus check in June
Americans probably shouldn’t count on getting another coronavirus stimulus check in June.
India: Largest Private Port Operator Partners TradeLens to Deploy Blockchain in SCM
Adani Ports and Special Economic Zone Ltd (APSEZ), India’s biggest private port operator has partnered with blockchain-powered digital container logistics platform TradeLens to optimize its port operations and improve supply chain management (SCM).
Japan enacts law toughening regulations on tech giants
The Diet enacted a law Wednesday requiring major technology companies to be more transparent, falling in line with other countries in toughening regulations on industry giants such as Google LLC and Amazon.com Inc. Companies that operate e-commerce websites and apps will be required to submit reports on their business practices…
Thredbo ski resort reopening in June with new social distancing rules
The snow season will look very different this year with capacity halved to allow for physical distancing.
Egyptian government prepares new economic stimulus package
CAIRO: The Egypt government has introduced a new economic stimulus package in light of the economic setbacks caused by the coronavirus disease (COVID-19) pandemic and the country’s subsequent lockdown. The new package, submitted by Minister of Planning and Economic Development Dr. Hala El-Said, allocates more than 50 billion Egyptian pounds ($3 billion) to support the tourism
$20 trillion recession to come? Impact of Coronavirus on the world economy
Of course, there was no way that anybody could have predicted what was to come in terms of the global shutdown caused by the COVID-19 pandemic.
Boeing Cuts Jobs for 12,000 Workers in the US
Boeing has been reeling from a drop in demand for aircraft, as travel plunges amid the pandemic and worsens the pressure on the company, which was already in crisis...
Saudi Arabia: Tax authority begins inspections of shops in retail sector
Campaign aims to ensure commitment of shop owners to VAT system
3 Ways Your Social Security Checks Could Be Reduced by COVID-19
The coronavirus pandemic could result in smaller monthly checks.
3 Reasons to Buy Stocks Right Now
Are you debating whether it's a good time to buy stocks? Here's why sitting on the sidelines doesn't make sense.
Banks surge in $17 billion catch-up rally
After lagging the market for months, banks surged amid potential signs the economic damage from COVID-19 may be less dire than feared.
U.N. calls meeting to boost pandemic support for developing countries
WASHINGTON, May 26 (Reuters) - U.N. officials said they will meet on Thursday with over a dozen world leaders to discuss shoring up financial support for emerging economies, hit hard by the pandemic's economic fallout.
Intel Remains A Blue-Chip Stock to Buy Post-Pandemic
Intel stock has held up remarkably well in 2020, as evidenced by first-quarter results, and move to the cloud means more upside ahead.
Nordstrom Needs to Bring Back What Made it Special
Nordstrom announced that it is closing its three Jeffrey stores. If you own Nordstrom stock that’s a good thing. Here’s why.
Facebook Stock to $1,000? It’s Possible Now Thanks to Shops
Newly announced Facebook Shops is a game-changer which cracks the ultra-valuable social commerce code, and could push FB stock to $1,000.
It’s Time to Take Ford Out to the Junkyard
Highly leveraged and with little wiggle room to emerge quickly from the coronavirus shutdown, the deck is stacked against F stock.
Here’s How to Make a Safer Wager on Penn National Gaming Stock
Today’s PENN stock price deserves a new strategy that plays a bit like craps. It uses the options market to leverage more upside.
Commission to propose EU budget of €1.1T for seven years
Figure would raise spending compared to current seven-year budget for EU27.
4.75 crore Indian Truecaller data on sale for Rs 75,000? Company responds
As per a report coming from online intelligence firm Cyble, some personal data of 4.75 crore Indians have been put on sale for $1,000 (that roughly translates to around Rs 75,000) on dark web.
Japan approves fresh $1.1 trillion stimulus to combat coronavirus pain
The record stimulus of 117 trillion yen, which will be funded partly by a second extra budget, followed another 117 trillion yen package rolled out last month.
Sensex settles nearly 1,000 points higher, Nifty ends at 9,315 led by banking, financial stocks
The S&P BSE Sensex surged 995.92 points (3.25 per cent) to settle at 31,605.22, while the broader Nifty 50 ended at 9,314.95, up 285.90 points (3.17 per cent).
EU to unveil virus recovery plan amid split over way ahead
The move Wednesday comes as the 27-nation trading bloc is set to enter its deepest-ever recession as the impact from the coronavirus pandemic ravages economies.
Ringgit up against US dollar at close
KUALA LUMPUR, May 27 — The ringgit ended higher against the US dollar despite global risk sentiment and declining crude oil prices, a dealer said. As at 6pm, the local note was quoted at 4.3450/3510 against the greenback compared with last Friday’s close of 4.3610/3690. At press time, Brent...
New Finas chairman pledges to strengthen creative industry
KUALA LUMPUR, May 27 — The new chairman of the National Film Development Corporation Malaysia (Finas), Zakaria Abd Hamid, will meet stakeholders of the arts industry soon to discuss its direction and ways to strengthen development of the local creative industry. Zakaria said he is committed to...
Israel Rejects Chinese Bid to Build World's Largest Desalination Plant
Under U.S. pressure, Israel has appointed a local company to construct Sorek 2, a desalination plant that is set to become...
Editorial: Get money where it’s needed, ASAP | Honolulu Star-Advertiser
The Legislature is in another recess for the next few weeks, but it had better be a working recess. One in which the work is going to be pretty hard, because there are so many problems to solve, stemming from the COVID-19 pandemic and economic crisis.
John Lewis reveals first stores to reopen doors on June 15
The retailer said it will reopen two stores on Monday June 15, followed by a further 11 sites on Thursday June 18.
How lawmaker ties helped shape Fed chairman's COVID-19 response
Federal Reserve Chairman Jerome Powell's deep ties with lawmakers are paying off as the central bank deploys trillions of dollars in financial support for the economy with the blessing of Congress.
DNS traffic and DDoS events rise during pandemic
New research from DNS intelligence specialist Farsight Security, focusing on over 300 leading websites, finds that between March and April there has been an increase in DDoS events involving popular brand names.
'Dangerously naive': APRA warns the worst is ahead
The banking regulator has asked banks not to rush to rebuild capital buffers and to disclose to shareholders "reliable and accurate" information amid mounting threats.
Lowy family-backed fund pays $40m for Melbourne homemaker centre
The buyer of the City West Plaza is Assembly Funds Management which last year received a $75 million injection from the Lowy Family Group.
Work-from-home emergence prompts rethink on designs, project locations
Developers are redesigning their projects prompted by buyers' emerging needs as a result of working from home.
Satoshi Nakaboto: ‘S&P 500 outperformed Bitcoin over the past year’
Our robot colleague Satoshi Nakaboto writes about Bitcoin every fucking day. Welcome to another edition of Bitcoin Today, where I, Satoshi Nakaboto, tell you what’s been going on with Bitcoin in the past 24 hours. As Aristotle used to say: Let’s get it! Bitcoin price We closed the day, May 26 2020, at a price […]
Are the Coronavirus Bailouts Working? What We Know So Far
If the crisis persists, Congress, the Treasury Department and the Federal Reserve may have to rewrite their playbooks.
Halfords to fully reopen to customers in Dundee – but don’t handle the products
Halfords in Dundee is preparing to reopen to customers after a successful trial of physical-distancing measures on its shop floors.
CCL Stock Price: Carnival Corp set to hit 10-week high above $18 amid growing analyst optimism
Another day, another double-digit increase? Carnival Corp's stocks closed at $16.28 on Tuesday and are changing hands at above $18 per share in pre-ma
Pound Sterling Price News and Forecast: GBP/USD bulls paused near 50% Fibo
Flying further up with free-roaming fish? While Brits are closely following the latest developments around Dominic Cummings – the special adviser at D
EUR/GBP clings to gains near daily tops, still below mid-0.8900s
The shared currency caught some fresh bids in the last hour and lifted the EUR/GBP cross to daily tops, around the 0.8935 region. The cross stalled it
USD/BRL: Leading to the 2002 highs amid political noise – Deutsche Bank
The most pressing challenge in Brazil is containing the COVID-19 epidemic, according to strategists at Deutsche Bank, who expect the USD/BRL pair to b
NZD/USD trades at fresh multi-month highs above 0.6200
The NZD/USD pair gained nearly 100 pips on Tuesday boosted by the risk rally and the selling pressure surrounding the greenback. The pair stretched hi
GBP/USD: Sterling has room to rise on Brexit hopes
Brexit hopes, the scandal around Dominic Cummings, and Sino-American relations are in the mix. Yohay Elam, an analyst at FXStreet, thinks the cable ha
S&P 500: No supports of note broken – Credit Suisse
S&P 500 outlook stays seen critically balanced with the market still below its 200-day average at 3000 on a closing basis, but with no supports of not
WTI attempts a bounce above $34 mark ahead of API data
WTI (July futures on Nymex) witnessed a quick bounce from daily lows of 33.52 and regained the 34 handle in the last hour, now consolidating above the
PBoC: China to roll out 11 financial reform measures in near-term
The People's Bank of China (PBoC) on Wednesday announced that China will be rolling out 11 financial reform measures in the near-term. "China will dee
Sharp IT budget cuts expected in wake of COVID-19
Gartner and IDC see global IT spending dropping precipitously this year, with cloud services an exception as enterprises accelerate transformational strategies.
Nokia Temporarily Shuts Down Its Manufacturing Unit Near Chennai After 18 Employees Test Positive For Covid-19
Nokia Temporarily Shuts Down Its Manufacturing Unit Near Chennai After 18 Employees Test Positive For Covid-19
BS Yediyurappa Following PM By Not Fulfilling COVID-19 Package Promise: Siddaramaiah
Congress leader Siddaramaiah on Wednesday hit out at Chief Minister BS Yediyurappa-led Karnataka government for allegedly "betraying" the people by not fulfilling its Rs 1,610 crore COVID-19 package promise.
Amazon is reportedly in talks to buy secretive self-driving car company Zoox for less than $3.2 billion, Business Insider - Business Insider Singapore
Business Insider - Zoox hinted it's had interest from multiple buyers.. Read more at businessinsider.sg
Global stocks are mixed after Trump promised 'interesting' action against China, while Europe awaits a huge new stimulus package, Business Insider - Business Insider Singapore
Business Insider - Trump warned Hong Kong was at risk of losing its status as a global financial centre if China's proposed national security law goes ahead as planned.. Read more at businessinsider.sg
AfCFTA: Implementing Africa’s free trade pact the best stimulus for post COVID-19 economies
Wamkele Mene was recently appointed Secretary General of the African Continental Free Trade Area Secretariat. Due to the effects of COVID-19, free trading for countries that have ratified the agreement cannot begin on July 1, 2020 as was originally scheduled. He spoke to Kingsley Ighobor about the way forward. Describe the impact of COVID-19 on …
Royal Bank Q2 profit cut to $1.48 billion compared with $3.23 billion a year ago
TORONTO — Royal Bank of Canada saw its second-quarter profit cut to less than half what it was a year ago as the amount it set aside for bad loans soared due to the pandemic. The bank says it earned $1.48 billion or $1.
Toronto Star owner Torstar to be sold, taken private in $52- million deal
TORONTO — Five families that built and grew media conglomerate Torstar Corp. have agreed to hand the newspapers they presided over for roughly 70 years to a Canadian investment firm that plans to take the company private.
BMO reports Q2 profit down from year ago as provisions for credit losses rise
TORONTO — BMO Financial Group reported a second-quarter profit of $689 million, down from $1.5 billion a year ago, as it increased the amount set aside for bad loans due to the pandemic.
Loan moratorium: It is better for credit card customers to either clear dues or opt for EMI to avoid interest burden
The extension of the moratorium on term loans by another three months till August 31 is a big relief for many borrowers but experts advise that you should avoid it for outstanding credit card dues.Wit
Banks go digital to maintain social distancing in post Covid world
Contactless services set to gain ground
Current crisis calls for a revised Union Budget
The provisions included in the Budget fro 2020-21 are insufficient to boost growth in light of the Covid-19 pandemic. Focus should be on stimulating economic activity and creating employment
Covid-19 highlights importance of agri storage
Promoting storage capacity of food grains at the Gram-Panchayat level will go a long way in making villages and farmers self-reliant
NZF Foundation spent $130k on company run by Winston Peters' lawyer
Tens of thousands in donor's funds given to the New Zealand First Foundation were spent paying expenses, wages and bills for people closely associated with the New Zealand First leader Winston Peters.
Takeovers Panel Responds To Metlifecare’s Application For Letter Of Intention
The Takeovers Panel has reviewed the information proposed to be put by Metlifecare Limited (Metlifecare) to its shareholders for the purpose of voting on a scheme of arrangement (the Proposed Scheme) to effect the acquisition of 100% of the ordinary shares in Metlifecare by Asia Pacific Village Group Limited (APVG).
Bank Hapoalim: Up to 1,000 employees to be laid off due to coronavirus - Inside Israel
Bank Hapoalim announces plan to lay off up to 1,000 employees, in effort to raise efficacy and save on salaries.
New turbulence in high-stakes Lufthansa rescue drama
Coronavirus-stricken airline group Lufthansa wavered Wednesday on grabbing a nine-billion-euro ($9.9 billion) German state lifeline, throwing up new turbulence for a rescue that could decide the fate ...
Air France to cut 40% of domestic flights after bailout
Air France-KLM will slash 40 percent of its French domestic flights by next year in exchange for receiving seven billion euros ($7.7 billion) in emergency coronavirus funding backed by the French state, ...
Farmers Will Grow What Markets Want: What Modi Government’s Agriculture Reforms Will Achieve
To begin with, the change towards a demand-driven value chain, instead of a supply-driven one, is a gamechanger.
One of the most profitable trades since 1993 is broken amid the coronavirus pandemic, Business Insider - Business Insider Singapore
Business Insider - Over the first 100 trading days of 2020, a trader that bought the close and sold the open would be down 19.7%.. Read more at businessinsider.sg
Robinhood says it's fixed an issue that showed incorrect portfolio values for users, Business Insider - Business Insider Singapore
Business Insider - Several users took to Twitter with complaints that their account values moved out-of-step with underlying investments.. Read more at businessinsider.sg
Boeing slashes 12,000 jobs as virus seizes travel industry
Boeing is cutting more than 12,000 jobs through layoffs and buyouts as the coronavirus pandemic seizes the travel industry. And the aircraft maker says more cuts are coming.
Health and Welfare ministries to take budget cuts - Inside Israel
Government expected to approve budget cuts across all ministries, to make room for additional ministries as per coalition agreements.
China's Chery Auto plans to sell cars in EU, United States: chairman
China's Chery Automobile, which has a manufacturing partnership with Jaguar Land Rover (JLR) , is planning to sell its own-branded cars in the ...
Hugo Boss sees recovery in third quarter at earliest
Hugo Boss expects a recovery in its business in the third quarter at the earliest due to store closures and consumer caution during the ...
Reducing migrant worker population will affect Singapore's competitive edge, lead to higher costs: Industry groups
SINGAPORE: A reduction in the number of foreign workers in Singapore would have multiple implications on the economy and businesses, and also have ...
Wells Fargo's Stock May Soon Reverse Lower
Wells Fargo stock has seen a massive rally off the May lows. Options traders are betting that the stock falls by July. The fundamental outlook is very weak.
Cavco Industries, Inc. (CVCO) CEO Bill Boor on Q4 2020 Results - Earnings Call Transcript
Cavco Industries, Inc. (NASDAQ:CVCO) Q4 2020 Results Conference Call May 27, 2020 8:00 AM ET Company Participants Mark Fusler - Director of Financial Reporting
Virtu Financial: Examining Possible Investment Thesis And Strategy
Virtu has shown attractive characteristics as a hedge against volatility and as income play. While the stock has not yet gone through prolonged recession and be
AT&T - Disney Plus Suggests T Could See Quick Returns From HBO Max
AT&T is launching HBO Max in 2 days. Disney Plus performed incredibly well after launch with Disney's stock going up 10% in 2 weeks. While the services are diff
BlackLine: A Software Company With A Strong Moat
BlackLine's focus on cross-system functionality gives the company a competitive advantage. BlackLine's moat comes from customers having extremely high switching
IBM: $80 Per Share Is More Reasonable
IBM's dedication to the dividend is both impressive and stubborn. I believe IBM is around 50% overvalued, stemming from its poor investment decisions and amazin
Mastercard: A Major Beneficiary Of The "New Normal"
Mastercard's recent operating update suggested a likely trough in business activity, with sharp improvements seen in the last few weeks. Cross border transactio
Realty Income: A Best In Class REIT
Realty Income collected 83% of April rents showing the strength of their portfolio. The top 4 industries in the portfolio sell essential goods, which has bode w
Briggs & Stratton: The Equity Is Out Of Money
The recently stock rally doesn't make any sense. There are a few restructuring scenarios but none of them are good for the existing equityholders. Chapter 11 mi
Partner Communications Company Ltd. (PTNR) CEO Isaac Benbenisti on Q1 2020 Results - Earnings Call Transcript
Partner Communications Company Ltd. (NASDAQ:PTNR) Q1 2020 Earnings Conference Call May 27, 2020 10:00 AM ET Company Participants Gideon Koch - Investor Relation
Kohl's Is In Trouble
KSS saw sales plummet more than 40% in Q1, with Q2 shaping up to be even worse. Looking further out, Kohl's is relying upon its digital business, but I don't th
Iron Mountain: Strong Operating Results Despite COVID-19
Iron Mountain recently declared its dividend in line with the previous, which is excellent news in a difficult economic environment such as the one we are curre
Columbus McKinnon Corporation's (CMCO) CEO Richard Fleming on Q4 2020 Results - Earnings Call Transcript
Columbus McKinnon Corporation (NASDAQ:CMCO) Q4 2020 Results Earnings Conference Call May 27, 2020, 08:00 AM ET Company Participants Deborah Pawlowski - Investor
Punjab CM Captain Amarinder Singh to announce decision on lifting of extension of lockdown on May 30
Punjab had 2,106 COVID-19 cases, including 1,918 cured/discharged and 40 deaths.
The average savings account interest rate is less than 1%, but it's not hard to earn more on your money
The average savings account interest rate is .06 — but opting for a high-yield savings account instead is an easy way to earn more than that.
Government may need to pump $20 billion into coronavirus-hit state banks: Report
India Business News: India may need to inject up to Rs 1.5 lakh crore ($19.81 billion) into its state-owned lenders as their pile of soured assets is expected to double du
Govt amends norms; companys' contribution to PM Cares Fund to qualify as CSR expenditure
India Business News: The government has amended the norms whereby contributions by corporates to the PM CARES Fund will qualify as corporate social responsibility (CSR) sp
Coronavirus has ‘undeniably’ diverted attention from Brexit – senior official
Andrew McCormick, Stormont’s Director General of International Relations, said preparedness on EU exit needs to be ‘dealt with urgently’.
Autonomous car company Aurora increases hiring amid industry struggles
Autonomous vehicle startup Aurora committed to hiring employees as it welcomes new executive hires and interns and crosses the 500-employee mark.
The Productivity Commission's Hamed Shafiee says the goal should not be simply to rebuild the economy we had, but to shift gear and find new ways for the economy to reach its full potential
The Productivity Commission's Hamed Shafiee says the goal should not be simply to rebuild the economy we had, but to shift gear and find new ways for the economy to reach its full potential
Lockdown presents mixed fortunes for Prakasam farmers
Paddy, Bengal gram, maize growers saw gains, while tobacco and chilli cultivators faced hard times
Low rates, poor demand hit jasmine growers
Though the sale of Udupi Mallige or Udupi jasmine started about a month ago, growers say that they are getting low rates, while flower sellers say that the demand is poor on account of lockdown restri
Wheat procurement on target despite lockdown
While it is progressing swiftly in States like Punjab and Haryana, U.P. is lagging behind; Madhya Pradesh crosses target
Leo Puriset to join JP Morgan
Leo Puri, the former MD and CEO of UTI Mutual Fund, will take charge as the chairman of JP Morgan, South and Southeast Asia after Kalpana Morparia retires in 2021.“[Ms.] Morparia, chairman, south and
Hospitality sector in the Nilgiris may see 70% slide in revenue
Lockdown coincided with peak season for tourism
SBI customers to SMS ‘yes’ for moratorium
State Bank of India’s (SBI’s) customers will be able to avail loan repayment moratorium facility by simply responding to an SMS from the bank, the lender said.The bank will send an SMS to customers,
PU evaluation work inMangaluru from today
Govt. agrees to provide transport and food to evaluators
BJP, JSP launch ‘Vizagnot for sale’ campaign
‘It is imprudent to sell away prime land for doling out freebies’
Foodgrains procurement centres to close by May 31
CM tells Agriculture dept. to focus on crop season from June
Discom reduces T&D losses to 6.64%, says CMD
‘Steps have been taken to solve problems of consumers’
Boris Johnson says 'air bridges' could remove need to quarantine by end of June
The Prime Minister suggested that "air bridges" could allow people to return to the UK from some countries from the end of next month without needing to quarantine
RB Salzburg boss admits transfer mistake selling Takumi Minamino for cheap
Takumi Minamino joined Liverpool from Salzburg for just £7.25million in the January transfer window after the Reds triggered the Japan international's release clause
San Francisco based Fintech Fundbox, a B2B Payment and Credit Network Provider, Receives Investment from Japan’s MUFG
Fundbox, a Fintech firm focused on "disrupting" the global $21 trillion B2B commerce ecosystem with its payment and credit network for B2B transactions, confi
Moscow says Putin and Saudi Arabia’s Mohammed bin Salman agreed to ‘close coordination’ on oil output
The Kremlin said they also both noted the importance of joint efforts aimed at reaching the agreements within the OPEC+ group in April on oil production curbs
Canada investigating alleged dumping of steel imports from five countries
Anti-dumping duties will be applied for an initial period of five years if the Canadian International Trade Tribunal subsequently concurs that the imports injured domestic producers
All three Detroit automakers have had workers test positive for COVID-19 since plants reopened
The U.S. auto industry reopened many plants last week after a two-month shutdown due to the global pandemic
You won’t attract investment without state intervention – Mykola Shchurikov about the chemical industry development strategy
The main problem is the inability to compete with importers. Their share in the domestic fertilizer market has exceeded 70%.
Currency.com vs BitMEX – Can Regulated Tokenized Securities Compete with the King of Crypto Derivatives?
Having launched in 2014, BitMEX enjoyed many years as the only fish swimming in the cryptocurrency derivatives pond. However, in recent times, it has found itse
Ethereum’s Best Use Case Goes Parabolic, DeFi Users Double in 6 Months
The use case that helped power Ethereum's record-setting string of positive weekly closes in early 2020, has now gone parabolic.
Govt disburses $202 million for 5 million poor families via village funds program
In total, some 63,000 villages of the nearly 75,000 villages in Indonesia have received village funds.
Ires defends 40% fee hike for its chairman
Remuneration committee increases Declan Moylan’s fees to €140,000 a year from February 2019
Boeing sends layoff notices to more than 6,000 employees
May 27 (UPI) -- Boeing said Wednesday it is laying off more than 6,000 employees in the first phase of its plans to reduce its workforce by 10 percent as the airline industry reels from the coronavirus pandemic.
One of the most profitable trades since 1993 is broken amid the coronavirus pandemic
One of the most profitable trades since 1993 is broken amid the coronavirus pandemic.
U.S. considering suspension of Hong Kong's special tariff rates: sources
WASHINGTON (Reuters) - The Trump administration is considering suspending Hong Kong’s preferential tariff rates for exports to the United States as part of its response to China’s plan to impose national security laws on the former British colony, people familiar with the matter said on Wednesday.
Two Canadian Banks Set Aside C$4 billion for Coronavirus Credit Losses
Anticipated bankruptcies and defaults caused by the coronavirus pandemic will mean lenders have to record potential losses from their loan portfolios sooner
Over 3500 Shramik Special trains carrying over 48 lakh passengers organised till date: Railway Ministry
The Ministry of Railways on Wednesday informed that over 3,500 Shramik special trains have been originated till now by Indian Railways carrying more than 48 lakh passengers to various destinations.
PSG Group to offload 28.11% stake in Capitec to shareholders
Post-unbundling it will retain a 4.3% shareholding in the bank.
Eskom sees lower risk of power cuts during winter
Load shedding at Stage 1 only, and for just three days.
Gender diversity at PSUs still a distant dream; lags promoter firms and MNCs
In the 4,657 firms in NIFTY 500, 13 companies do not have any women directors. Of those, 12 are PSUs
Biz EOD: NHAI offers COVID loan; SBI cuts FD rates; Maha tops MSME registrations
Catch top stories from the world of business and economy with BusinessToday.In's Biz EOD report
Why Latin American airlines are going belly-up?
The move allows Latam Airlines Group to keep operating while it works out a plan to pay creditors and turn around the business.
PGCIL Recruitment 2020: Jobs alert for Power Grid Corporation vacancies; check application details
PGCIL or Power Grid Corporation of India Limited is a Maharatna company which falls under the Ministry of Power, Government of India.
Indian Air Force gets 15 deadly and heavyweight Chinook Helicopters! To help operations in the Northeast Region
Sources in the Indian Air Force (IAF) have confirmed to Financial Express Online that “The final five of the 15 Chinook heavy-lift helicopters were handed over to the IAF at the Air Force Station, Chandigarh, just before the countrywide lockdown.”
IOCL Recruitment through GATE 2020: Applications invited for various posts; here’s how candidates can apply
The vacancies have been listed for the recruitment to several posts of Engineers/Officers and Graduate Apprentice Engineer.
Germany's DAX 30 Index: German stocks gain despite sell-off in tech shares
A sell-off in technology stocks dragged on the German stock market on Wednesday. Nevertheless, the DAX closed the eighth of its last nine trading days
USD/CAD extends rebound, trades above 1.3800 on oil selloff
The USD/CAD pair fell to its lowest level in more than two months at 1.3725 on Wednesday and staged a decisive recovery in the second half of the day.
Banff ready to welcome visitors once again, some streets closed to vehicle access
A two block stretch of Banff Avenue will be closed to vehicles, along with a portion of Caribou Street.
Crisis Looming Over Handlooms: Six Relief And Revival Measures That Can Help The Sector Tide Over The Impact Of Covid-19
Since mills are under lockdown, yarn supplies have come to a grinding halt, hitting the handloom sector severely.
GE switches off light bulb business after almost 130 years
GE started with lighting, but today it’s more of an “industry and debt” firm.
Boeing will lay off nearly 7,000 workers as the industry is decimated by the COVID-19 pandemic, Business Insider - Business Insider Singapore
Business Insider - The company described the layoffs as "the first," with more expected later in the year.. Read more at businessinsider.sg
A 'capital war' is accelerating between the US and China, and the coronavirus pandemic is only making it worse, according to one investor, Business Insider - Business Insider Singapore
Business Insider - "We're in a world where capital wars matter," Michael Howell, CEO of Crossborder Capital, said in a Tuesday interview with CNBC.. Read more at businessinsider.sg
The coronavirus crisis will be 'hugely beneficial' to Amazon and other tech giants, billionaire investor Bill Ackman said, Business Insider - Business Insider Singapore
Business Insider - To the extent that investors are driving up stocks to reflect tech's bright prospects, the market "doesn't seem wrong to me," Ackman said.. Read more at businessinsider.sg
Bankrupt Hertz just told all of its landlords it won't pay rent for six months in the latest slam to commercial real estate, Business Insider - Business Insider Singapore
Business Insider - The notice came several days before Hertz, saddled with a debt of $19 billion, declared bankruptcy on May 22.. Read more at businessinsider.sg
68% of newly unemployed American workers could earn more money from government benefits than they did from their pre-pandemic jobs, research claims, Business Insider - Business Insider Singapore
Business Insider - Jobless data showed last week that about 39 million people in total have filed for unemployment in the last nine weeks of the pandemic.. Read more at businessinsider.sg
European Commissions unveils €750-billion recovery plan
The European Commission proposed a €750-billion aid package to help Europe’s economic recovery from the fallout of the coronavirus pandemic on Wednesday
COVID-19 rent aid for businesses, landlords to cost $520 million, PBO says
OTTAWA — Parliament's spending watchdog estimates a program aimed at giving small businesses a break on their rents could cost the federal treasury $520 million this fiscal year.
How about giving the middle class a break?
They are the heart of India’s consumption engine but seldom get a policy look-in
A survival-of-the-fittest approach towards MSMEs
The structuring of their relief package suggests that the Centre is only keen to ensure the sustenance of somewhat large and viable MSMEs
GDP growth may rebound to 5% in FY22: Former RBI governor
The economy, which is likely to contract by 5 per cent in the current fiscal year, may expand by around 5 per cent in the next financial year, former RBI governor Duvvuri Subbarao said. Rating agency
Government Investment Supports The Acquisition Of New Interislander Ferries
State-Owned Enterprises Minister Winston Peters has welcomed KiwiRail’s announcement that it is seeking a preferred shipyard to build two new rail-enabled ferries for the Cook Strait crossing.
Lane Neave Advises MIE Pay On Australian Listing
Lane Neave has advised financial and technology company MIE Pay Limited on the New Zealand aspects of its listing on the National Stock Exchange of Australia.
More For Some, Less For Others
The Government’s new welfare scheme is ill targeted and provides the most support to those who need it the least, National’s Social Development spokesperson Louise Upston says.
New Zealand Facing Largest Decline In GDP In 160 Years
Estimates from the Reserve Bank today show New Zealand will this year experience the largest decline in annual GDP in at least 160 years, highlighting the seriousness of the economic crisis we are facing, National’s Finance Spokesperson Paul Goldsmith says.
BC Ferries losing up to $1.5 million each day as pandemic tanks ridership
The company does not qualify for the wage subsidy
Workday Shares Have Become A GARP Story - And A Good One At That
Workday will be announcing the results of its fiscal Q1 (ended 4/30/30) this Wednesday, May 27th. At this point, expectations are muted reflecting the extent to
AMD: 100X P/E Ratio Is Not Supported By 2020 Revenue Projections
No stock can maintain a 100x PE ratio without booming revenue. A recession/depression will depress overall demand. Competitor Intel is projecting a weak quarter
Photronics Inc. (PLAB) CEO Peter Kirlin on Q2 2020 Results - Earnings Call Transcript
Photronics, Inc. (NASDAQ:PLAB) Q2 2020 Earnings Conference Call May 27, 2020 08:30 A.M. ET Company Participants Troy Dewar - VP, IR Peter S. Kirlin - CEO John P
Netflix: Behind The Account Culling
On May 21, 2020, Netflix announced they would be culling accounts dormant for over a year. The company indicated they didn't want people to pay for a service th
How Microsoft's Azure Is Helping In The Fight Against COVID-19
Microsoft's cloud business, Azure, along with artificial intelligence is being used by companies and the CDC to battle COVID-19. Microsoft is likely to be a hig
LINK Has Grown 4x In The Last Year, And May Keep Growing
Chainlink was likely the best altcoin investment of the last 12 months - up nearly 4x from its $1 price last May. Partnerships continue to increase, including a
Etsy: Downgrading On Valuation And Competition
Shares of Etsy have been a major outperformed this year, rising 64% year-to-date despite a ~10% decline in the broader markets. The company has continued strong
Is Northern Oil And Gas Worth The Risk At This Price
We discuss Northern Oil and Gas's unique business model and how it may be a strategic advantage. We lay out the company's history of share dilution and will let
Tuesday Morning becomes 5th big retailer to file Chapter 11
Discount goods retailer Tuesday Morning has filed for Chapter 11 bankruptcy protection, the fifth major retailer to do so since the pandemic.
A 'capital war' is accelerating between the US and China, and the coronavirus pandemic is only making it worse, according to one investor
"We're in a world where capital wars matter," Michael Howell, CEO of Crossborder Capital, said in a Tuesday interview with CNBC.
IAF commissions second squadron of Tejas fighters with chief flying solo sortie
India News: The IAF commissioned its second squadron of the indigenous Tejas light combat aircraft on Wednesday, even as the Rs 37,000 crore contract for producti
Piyush Goyal asks industry to start working for post-Covid period; says worst for economy is over
India Business News: Commerce and industry minister Piyush Goyal on Wednesday asked the industry to start working for the post-COVID period with good ideas and firm implem
Pub jobs at risk unless social distancing is cut to one metre, trade groups warn
Expecting pubs to contribute to furlough costs whilst they are still closed is ‘madness’, Chancellor told.
Mix of loans and grants in Commission €750bn package
Italy and Spain, the worst-hit EU countries by the coronavirus pandemic, will get much of the new money under the European Commission's recovery plans - that mark a turning point for the bloc in moving towards joint debt.
'Mother of all sales' predicted for Devon and Cornwall's shops as they reopen
According to experts, there could be the 'mother of all sales' for the next few months
Taseko signs deal for Yellowhead copper project in Canada
Taseko Mines has signed an agreement with an indigenous nation as it seeks to secure regulatory approval for the Yellowhead copper project in Canada.
Delhi Dy CM interacts with principals regarding reopening of schools
Manish Sisodia also stressed that maintaining social distancing, sanitisation among others would be of utmost priority when the reopening takes place.The national capital, with 14,465 covid-19 cases is one of the worst affected States by the infection in the country
COVID-19 rent aid for businesses, landlords to cost $520 million, PBO says
OTTAWA - Parliament's spending watchdog estimates a program aimed at giving small businesses a break on their rents could cost the federal treasury $520 mil
Moscow in 2014 banned wholesale imports from the European Union of most types of fresh foods in response to EU sanctions over Russia's actions in Ukraine including the annexation of Crimea
Russia on Wednesday seized 40 tonnes of European cheeses smuggled into the country in breach of an embargo on EU food imports, the customs service said. The shipment included Dorblu blue cheese and Italian hard cheeses such as Grana Padano, the customs service said. This was in response to EU sanctions
Crypto Comeback: Chief Economic Adviser Optimistic Over Renewed Risk-On Tone
When the pandemic first struck, crypto investors feverishly began reducing overall risk across their asset portfolio.
London markets make ‘solid’ gains as trading optimism continues
London’s top flight closed 76.49 points higher at 6,144.25p at the end of trading on Wednesday.
Victor Davis Hanson: The spreading debt virus — 5 potential cures for $30 trillion problem
The massive borrowing is being driven both by prior budget profligacy and a hurried effort by to pump liquidity into a quarantined America.
NLC protests slash in workers’ salaries, gives Ganduje 14 days to make U-turn
Organised labour in Kano has issued a 14-day ultimatum to the state government to pay back the deduction it made to workers' salaries or they go on strike.
Fitch Ratings further reduced India’s GDP forecast to (-) 5 per cent
New Delhi, May 27 (IANS) India’s stringent lockdown norms have lasted longer than expected, said Fitch Ratings as it further reduced India’s GDP forecast to (-) 5 per cent from an earlier projected growth of 0.8 per cent for the current fiscal.
Punjab seeks Rs 51,102 crore fiscal stimulus from Centre to overcome economic crisis caused by COVID-19
The stimulus package demanded by the state includes Rs 21,500 crore direct stimulus, CCL debt waiver and 100% funding of Central schemes.
Drop in traffic, revenue triggers change in credit rating agency's view of B.C. Ferries
A massive drop in traffic and revenue has triggered a credit rating agency to change its view of B.C. Ferries. DBRS Morningstar has changed B.C. Ferries’ trend to negative from stable, though it . . .
Drop in traffic and revenue triggers change in credit rating for B.C. Ferries
A massive drop in traffic and revenue has triggered a credit rating agency to change its view of B.C. Ferries. DBRS Morningstar has changed B.C. Ferries’ trend to negative from stable, though it . . .
IndiGrid Q4 results: Net profit doubles to Rs 99.7 crore
Revenues for the quarter increased to Rs 328.4 crore from Rs 170.5 crore in Q4 FY2019.
Bitcoin’s bounce back over $9,000 masks a potential downtrend
Bitcoin rose as much as 3.7 per cent to $9,190 in New York trading on Wednesday.
Boeing slashes 12,000 jobs as virus seizes travel industry
The layoffs are expected to be concentrated in the Seattle area, home to Boeing's commercial-airplanes business. The defense and space division is stable and will help blunt the impact of the decline in air travel and demand for passenger jets.
Swiss companies must help pay rent for employees working from home: court
The court made the ruling in a case brought by an employee of an accounting firm, who claimed his company was responsible for part of his rent while he was forced to work from home, Swissinfo
Stock indexes rise on optimism of recovery, shrink back
US stock indexes rose at the open on Wednesday as a pickup in business activity fueled hopes of a post-pandemic economic recovery, but marts later gave up some of their gains as investors remained
McDonald’s announces all Irish drive-throughs to reopen on June 4th
High levels of anticipated demand will see each location revealed on morning of opening
UK tells EU: break the Brexit 'impasse' so we can do trade deal
LONDON (Reuters) - Britain told the European Union on Wednesday it needed to break a fundamental impasse to clinch a Brexit trade deal by the end of the year and said an agreement on fisheries might not be ready by July.
EU pledges 40 billion euros for 'just transition' from fossil fuels
BRUSSELS (Reuters) - The European Commission has increased five-fold its proposed European Union fund to wean carbon-intensive regions off fossil fuels, with fresh cash from a new recovery fund to help Europe’s ailing economies rebound after the new coronavirus pandemic.
Informa Markets To Launch The Industry’s Largest Digital Tradeshow
Changes are coming! Informa Markets Fashion and wholesale e-commerce platform NuORDER have partnered to launch the industry’s largest digital tradeshow, which will debut alongside Informa’s
States need to Raise 20 Lakh Crore rupees to Fight Coronavirus -
Union Minister Nitin Gadkari on Wednesday said that in the wake of the crisis arising out of the Covid-19 pandemic,
Saudi Arabia's crown prince and Putin agree to 'close coordination' on oil output
MOSCOW: Russian President Vladimir Putin and Saudi Arabia's Crown Prince Mohammed bin Salman, in a telephone call, agreed on further "close coordination" on oil output restrictions, the Kremlin said on Wednesday. They also both noted the importance of joint efforts aimed at reaching the agreements within the OPEC+ group in April on oil production curbs, the Kremlin said.
CME Group Launches Options on Micro E-Mini Futures Product
The new options will be available for trading in the fall of 2020, pending regulatory review
CME Group Launches Options on Micro E-Mini Futures Product
The new options will be available for trading in the fall of 2020, pending regulatory review
Air Canada to resume flights to Phoenix in August
After nearly a month of closures due to the Covid-19 pandemic, Air Canada has resumed flights to and from the United States, with service to Phoenix Sky Harbor International Airport set to resume in August.
Gold loan companies come to rescue of small businesses; banks shy away
Since gold price has increased by nearly 50 per cent in the last one year, gold loan companies are at an advantage as 'loan to value' - the ratio of money lent against the value of gold - has been reduced substantially
USD/CAD recovers early lost ground, turns neutral around 1.3770-75 region
The USD/CAD pair has managed to rebound around 40 pips from daily swing lows and was last seen trading nearly unchanged for the day, comfortably above
EUR/USD: A convincing recovery plan is positive for the euro – Nordea
The EUR750 billion recovery fund proposal presented by the Commission would illustrate a strong commitment to keep the Euro-area and the EU together a
AUD/USD plummets to session lows, further below 0.6600 mark
The AUD/USD pair extended its sharp intraday pullback from the highest level since mid-March and dropped to fresh session lows, below the 0.6600 mark
ACB Stock Price: Aurora Cannabis Inc. remains on the defensive below $16.00
Aurora Cannabis Inc. (ACB) is down for the third consecutive session on Wednesday, slipping back below the $16.00 mark per share and flirting at the s
Singapore: GDP could contract 4%-7% this year – UOB
Singapore’s economic activity carries the potential to contract between 4% and 7% this year as a consequence of the impact of the coronavirus crisis o
More Unified Approach to Public Procurement Needed to Boost Kazakhstan’s Economic Recovery
Kazakhstan has made significant efforts over the past two decades to bring its public procurement system closer to international standards, but a considerable part of procurement activity has yet to meet these standards, thereby limiting overall effectiveness and efficiency, says a World Bank Assessment. “We acknowledge that the rules and institutions of Kazakhstan’s public procurement […]
North Carolina budget writers brace for $5B shortfall
North Carolina's budget could be short by about $5 billion as a result of the response to the COVID-19 pandemic, state economists predict.
UP’s Industrial Units Seek To Employ 5 Lakh Returnee Migrant Workers From Yogi Govt’s Skill Mapping Data Bank
An official spokesperson said that the Yogi govt was determined to ensure employment for all migrant workers.
Off-price retailer Tuesday Morning has filed for bankruptcy with plans to close 230 stores, Business Insider - Business Insider Singapore
Business Insider - Tuesday Morning, which has nearly 700 stores specializing in off-price home goods, has filed for bankruptcy.. Read more at businessinsider.sg
Walmart is now selling used goods from Nike, Coach, Michael Kors and more as it dives into the $32 billion resale market, Business Insider - Business Insider Singapore
Business Insider - Walmart is partnering withe the resale site ThredUp to sell used clothing, shoes, accessories, and handbags on its website.. Read more at businessinsider.sg
Dow climbs 325 points as investors cheer efforts to boost global economies, Business Insider - Business Insider Singapore
Business Insider - The European Commission proposed on Wednesday a $826 billion stimulus package intended to aid recovery from the ongoing recession.. Read more at businessinsider.sg
Urban Company adds new services in line with shift in consumer needs
Witnesses pent-up demand during lockdown 4.0
Proposal For Trans-Tasman Bubble Considers Every Step Of A Passenger’s Journey
A proposed blueprint into how safe trans-Tasman travel could re-open is advancing fast, with a draft to be presented to New Zealand and Australian governments for consideration in early June.
FG to inaugurate 200,000 capacity yam storage facility in Benue
The federal government will, on June 9, inaugurate the 200, 000 capacity yam storage facility for Micro, Small and Medium Enterprises (MSMEs)
In 2019, Lagos, Rivers, FCT, Ogun earned more than other 33 states combined — NBS
The quartet of Lagos, Rivers, the FCT and Delta states had a combined internally generated revenue more than all other 34 states of the federation...
Clarification to a Sunday Mail article dated 10/05/20: Scots banking tycoon accused of cashing in on coronavirus
We now accept that the source of the price increases was abroad and that Wright Cottrell had no control whatsoever of these market changes.
Global Yields For Stocks And Bonds
The U.S. stock market has continued its decade-plus of dominance versus global peers during the 2020 sell-off despite a less-than-stellar domestic response to t
Profitably Scaling Regional Cannabis (Podcast)
What does it take to scale U.S. regional cannabis brands and do so profitably? We talk to Aviv Hadar from Oregrown and Eric Ross and Ed Weidenfeld of District C
Inflation Fears In A Deflationary World
Massive waves of quantitative easing stir fears of rising inflation and even hyperinflation, but is this fear well-placed? Indeed, some would say that the risk
SL Green: Buy Manhattan's Largest Office Landlord At A Steep Discount
SL Green Realty is the largest office landlord in Manhattan and managed by a crew who has worked together through several previous crises. A 9% yield looks to b
Why Copper Could Rise From Here
Copper has taken a hit as a result of a sharp drop in economic activity due to COVID-19. However, the potential for rising inflation expectations along with ris
Switch: Overvalued For Such Low Growth Prospects
Investors have piled into Switch this year, whose shares are up ~28% year-to-date despite a ~10% decline in the markets. Churn has increased in the wake of the
Micron: Big Bets Are Being Placed
Institutional investors collectively bought about 3.5% (net buying) of Micron's total shares outstanding in the last 13F cycle. Moreover, 11 of Micron's 15 larg
Is American Airlines Worth Saving?
The U.S. airline industry is in the process of moving from payroll support grants which most carriers received to carrier-specific and optional loans from the U
NSW freezes public service pay to save $3 billion in pandemic
The NSW government will freeze pay rises for public sector workers for 12 months, as it deals with rising unemployment due to the coronavirus pandemic.
Off-price retailer Tuesday Morning has filed for bankruptcy with plans to close 230 stores
Tuesday Morning, which has nearly 700 stores specializing in off-price home goods, has filed for bankruptcy.
UK Parliament is concerned about potential effects of the pandemic on the UK's cash infrastructure
Members of Parliament in the UK are concerned that plummeting ATM usage due to the pandemic may put its cash infrastructure in danger of collapse.
Greater Than has launched a cloud-based loyalty program
Greater Than's new loyalty product will help insurers boost customer experience by increasing engagement and offering greater personalization.
Walmart is now selling used goods from Nike, Coach, Michael Kors and more as it dives into the $32 billion resale market
Walmart is partnering withe the resale site ThredUp to sell used clothing, shoes, accessories, and handbags on its website.
More than 3,600 stores are closing in 2020 as the retail apocalypse drags on. Here's the full list.
L Brands said Wednesday that it plans to close about 250 Victoria's Secret stores in the US and Canada in 2020.
Amazon is planning a summertime sale separate from Prime Day
Amazon is planning a "Summer Sale" that would enable merchants to sell extra inventory they may have accumulated during the coronavirus pandemic.
British Land reveals fewer than half of retail tenants paid rent in March
The commercial landlord, which owns shopping centres and office space, has written down the value of its retail portfolio by 26%.
Pound Sterling "Blown Off Course by Frosty Brexit Talks", Dips 0.5% against Euro and Dollar
The British Pound has suffered an abrupt shift in fortunes as it fell from top of the leaderboard amidst a fresh injection of nerves concerning the status of ongoing Brexit talks
Salaries get chopped for many Americans who manage to keep jobs
Americans taking pay cuts 'might have little, and in some cases maybe nothing, left over after that for discretionary purchases'
Rodents compound woes of traders
Their population has seen manifold increase in closed showrooms
IEA forecasts a 20% drop in global energy investment in 2020
The Paris-based IEA said this could have serious repercussions for energy security and the transition to clean energy as the global economy recovers from the pandemic
Australia’s superannuation system drives inequality
Robert Lechte, a welfare-state advocate living in Melbourne, believes that Australia’s superannuation system “enshrines inequality”:
Russell Investments Group Ltd. Has $4.26 Million Stake in Foot Locker, Inc. (NYSE:FL)
Russell Investments Group Ltd. boosted its holdings in Foot Locker, Inc. (NYSE:FL) by 77.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 193,526 shares of the athletic footwear retailer’s stock after purchasing an additional 84,231 shares during the quarter. Russell Investments […]
Toronto's average rental price dropped five per cent in April
With rising unemployment, health fears and universities moving online, renters have avoided moving and landlords have dropped asking prices
PenCom mulls diversifying investments into infrastructure, housing assets
PenCom says it is reviewing its policies to boost pension fund investments in capital market products, infrastructure and housing assets post-COVID-19.
United Spirits Q4 results: Net profit plummets 81% to Rs 24 crore
The maker of McDowell's whiskey said underlying net sales declined 11.08% to Rs 6426.4 crore.
Low crude oil prices helped India save Rs 25,000 crore: Dharmendra Pradhan
‘Government will reinvest that money for the welfare of the people
Tesla knocks $5,000 off Model X price as coronavirus hurts demand
Just call it the coronavirus discount. Tesla this week cut the prices of its vehicles in North America as auto demand has taken a hit thanks to pandemic-related lockdowns across the region. The Model
Online booze orders flying in ahead of move to lockdown level 3
South Africans rush to place alcohol orders online
Reality check on finding new export markets: China's demand dwarfs the rest
Do you stop supplying half of your Shiraz to China because the government says we need to "diversify"? You can't give up that business to pursue wine sales in teetotal India or Indonesia.
Goodman company gets €19m judgment against Blackrock Clinic founder
Judge dismisses range of claims from Dr Joseph Sheehan
Cruise stocks soar 10% as reopening optimism lifts virus-slammed industries
Royal Caribbean, Carnival, and Norwegian Cruise Line Holdings all surged at least 10% on Wednesday as sectors hit hardest by the coronavirus and related lockdowns rally on reopening hopes.
South African mines record 320 COVID-19 cases ahead of lockdown easing
JOHANNESBURG (Reuters) - South Africa’s mining industry has so far recorded 320 cases of the new coronavirus, the Minerals Council said on Wednesday as underground mines prepare to ramp up output when Africa’s most industrialised economy eases lockdown measures next week.
Tech reboot in store for EU as plans recovery from crisis
BRUSSELS (Reuters) - From ramping up 5G’s rollout to exploiting its data, the European Union is turning to technology to help it bounce back from the coronavirus crisis and compete better in key areas with the United States and China.
EU keeps defence fund alive with 8 billion euro proposal
BRUSSELS (Reuters) - The European Commission proposed on Wednesday spending 8 billion euros ($8.81 billion) of its next budget on a new European Union defence fund, keeping alive a Franco-German plan to deepen military cooperation despite the economic impact of COVID-19.
Corn is oversold; watch for short covering to provide price spark, analyst says
Outside investors are watching the June crop weather forecasts turn dry.
Braddon Northbourne Flats site on the market again, a year after failed sale
The 15,607-square-metre site of the former Northbourne Flats public housing in Braddon will be auctioned next month.
Dubai government employees to start returning to work on Sunday
DUBAI: Half of Dubai’s government employees can return to their offices on Sunday, and the rest will be able to go back on June 14, the emirate’s government announced Wednesday. The return to work will, however, be made with “intensified precautionary measures,” to protect workers, Crown Prince Sheikh Hamdan bin Mohammed said.
Standard Chartered Names Lay Choo Ong as Head of Retail Banking Hong Kong
Standard Chartered Bank Hong Kong announced today it has appointed Lay Choo Ong as the new head of retail banking, Hong Kong.
Boeing slashes 12,000 jobs as virus seizes travel industry
Boeing is cutting more than 12,000 jobs through layoffs and buyouts as the coronavirus pandemic seizes the travel industry. And the aircraft maker says more cuts are coming.
Coronavirus impact: Cement production to witness steepest fall ever of upto 30% in FY21
The slowdown in cement industry, which was already impacted by tepid economic activity, was compounded by the coronavirus-led lockdown instituted in March
Kerala launches BevQ app ahead of reopening liquor sales
The liquor stores in Kerala will remain open from 9:00 am to 5:00 pm; bookings on the BevQ app have been allowed from 6:00 am to 10:00 pm
Super funds lose access to matching feature over fraud fears
Superannuation funds have had their access to SuperMatch suspended over concerns about fraud.
The close: Markets rise with economic hopes; RBC reclaims top spot as Canada’s most valued stock
Strength in the financial sector offset losses in the materials sector
British Land suffers £1bn hit from retail tumult
Property company dented by coronavirus impact and boom in ecommerce
Supermarkets see fastest sales jump in 26 years with online orders soaring
Kantar found that sales jumped 14.3% in the 12 weeks to May 17 in grocers, including the period of lockdown when restaurants, bars and pubs shut.
How To Keep Fraudsters From Scamming Banks Across Every Nook And Channel
The May FI Fraud Decisioning Playbook examines the issue of omnichannel fraud and the strategies that banks and credit unions are using to detect and thwart it.
Preparing Merchants For The Coming Mobile Wallet Boost
Merchants must be prepared for a new world, post-pandemic, that will embrace order-ahead and other digital/hybrid payment options. Here's how to get started.
FIs Or FinTechs: Who Will Power Banking’s Big Digital Shift?
As banking continues to go digital, five experts talk about the ways financial institutions can break out and thrive by focusing on agility and partnerships.
Innovating The ATM Beyond Cash
PYMNTS explores the influx in PPP loan applications, an overview of new ATM and ITM technologies and Redwood Credit Union's latest digital innovations.
Michael O'Leary hits out at Government's 'ineffective' quarantine regime
Ryanair CEO Michael O'Leary has hit out at Government plans to quarantine travellers coming into ...
Q4 GDP: Where will India be when this dreadful year finally ends? Today's numbers will show the first signs
The nationwide lockdown announced from March 25 brought the entire economy to a standstill .
States' fiscal deficit could hit 4.5% of gross state domestic product: India Ratings
The upward revision was based on the fact that states were already facing lower-than budgeted share in central taxes and subdued own revenue growth, when the lockdown was imposed from March 25. States are likely to see further declines in these receipts in FY21 with the fallout of Covid-19, the report said.
UK lockdown drives fastest growth in grocery sales for over 25 years
Of Britain's big four grocers, industry leader Tesco was the best performer with sales up 12.7%, closely followed by No. 2 player Sainsbury's with a 12.5% increase. No. 4 Morrisons' sales rose 9.8%, while Walmart owned Asda was the laggard with a 6.5% increase.
Nissan-Renault alliance to share more parts, technology
Alliance Operating Board Chairman Jean-Dominique Senard said the group, which also includes smaller Japanese automaker Mitsubishi Motors Corp., will have each company focusing on geographic regions.
Gold prices hit 2-week low on reopening optimism
US gold futures were down 0.5 per cent to $1,697.60.
Amazon In Advanced Talks To Buy Self-Driving-Car Tech Company Zoox
Amazon is in advanced talks to buy Zoox in a move that would expand the e-commerce giant's reach in autonomous-vehicle technology. The Wall Street Journal reports: The companies are discussing a deal that would value Zoox at less than the $3.2 billion it achieved in a funding round in 2018, accordi...
Travel group says Australia-New Zealand bubble could open in September
A travel industry group working to establish a 'Trans-Tasman bubble' says it will present a plan to both governments early next month and eyes flights resuming as early as September.
Super funds lose access to matching feature over fraud fears
Superannuation funds have had their access to SuperMatch suspended over concerns about fraud.
CATL explores new EV battery services, to add capacity: chairman
BEIJING (Reuters) - China’s top electric vehicle (EV) battery maker Contemporary Amperex Technology Ltd (CATL) is exploring new battery-related services and will expand manufacturing capacity in the next two years, its chairman told Reuters.
ICC threatens to shift 2021 T20 World Cup from India over tax issues
The Indian board's request for a deadline extension due to the Covid-19 pandemic has been rejected | ESPN.co.uk
T-Mobile leads modest growth in Dutch broadband subscribers in Q1, KPN losses continue
A year after launching a major expansion in its fibre footprint, KPN has yet to restore growth in its broadband business. The latest data from Telecompaper shows the incumbent lost another 17,000 broadband subscribers in the first quarter of 2020, while rival VodafoneZiggo added nearly 10,000 new connections. T-Mobile was again the biggest winner, adding the most new broadband subscribers in Q1.
Argentex Group Announces Completion of New London Headquarters
Argentex Group, provider of foreign exchange services to institutions, corporates and high net worth private individuals announced new London headquarters.
Integral to Provide Workflow Automation to Velocity Trade
Integral announced that it has been selected by Jefferies’ TrueFX trading network, Velocity Trade, to update its workflow automation and trading technology.
Most OPEC+ Nations Want No Changes in Deal Provisions Related to Cuts From July - Source
MOSCOW (Sputnik) - Most OPEC+ nations want to preserve the April conditions of the deal and reduce oil production by 7.7 million barrels per day starting July, but...
No more furlough: Rishi Sunak 'set to close scheme to new applications'
Employers could soon also have to pay 20% of workers' wages, with the government funding 60%.
Yes Bank brass lists 6 reasons for Rs 15,000 crore fresh capital
The bank has to prepare for new set of NPAs post August when the six-month moratorium period ends
India's GDP growth to slow down to 1.5% in Q4, says ICICI Bank report
India's GDP growth is estimated to be 4.2 per cent for full fiscal FY20 and minus 4 per cent for FY21 "with more than Rs 14 lakh crore of real output loss", as per ICICI Bank's research report
Winter vegetable markets to reopen today with new timings
Winter vegetable markets will reopen today after three-day Eid Al Fitr break with new timings, offering a number of farm fresh local vegetables at competitive prices.
CBS Hit by Newest Round of ViacomCBS Layoffs
The cuts at the broadcast network come a month after similar actions at the company's cable properties.
Volkswagen in final talks to seal top M&A deal in China EV sector: Report
The firm is poised to buy 50 per cent of Anhui Jianghuai Automobile Group Holding, the parent of EV partner JAC Motors, for at least 3.5 billion yuan
Over a third of Indian women don't own gold but want to buy it: WGC survey
60% of Indian women already own gold jewellery, the most popular item among 'fashion and lifestyle' shoppers after designer clothes and silk sarees.
Better Malaysia's relationship with India may boost crude palm oil prices
The newly appointed MPOB Chairman Ahmad Jazlan Yaakub said in a statement the rally will come as a relief to industry participants
E-pass not needed for passengers moving to or from airport: Mumbai Police
The domestic flights were allowed to operate by the Central government, with reasonable restrictions, from May 25
UP restarts road, bridge projects totalling Rs 31,000 cr as lockdown eases
The state has expedited infra projects to boost economy, create jobs in hinterland
Gold prices hit two-week low on optimism around reopening of economies
Spot gold dipped 0.3 per cent to $1,705.94 per ounce by 0502 GMT, after hitting its lowest level since May 13
Agrochemical stocks rally; Bayer Crop hits new high, Dhanuka Agri soars 17%
UPL, Rallis India and Sumitomo Chemical India were up 5 per cent each on the BSE.
Renault, Nissan, And Mitsubishi Detail Alliance Business Changes
The part that caught our attention the most is the so-called principles of the leader-follower scheme for vehicles.
Oppo pushes its Chip development ambitions as US ban hits Huawei
The popular Chinese smartphone vendor, Oppo, is pushing forward with its efforts to design its proprietary mobile chipsets. It had initially begun focus on chip development back in 2019 when Huawei was hit with the trade ban. Now, the company is aggressively pushing for the self-made chips after recent sanctions have effectively cutoff Huawei’s chip …
The World Trade Organisation responds to claims over reports regarding Saudi Arabia and TV piracy
Newcastle United fans are awaiting news on the buy-out of the club but have still yet to receive a positive outcome
Japan quells rumors it will pay for half of visitors' expenses
In tweets, the Japan Tourism Agency said the program under consideration would only cover “a portion of domestic travel expenses.”
Rupee settles 5 paise lower at 75.71 against US dollar
The rupee opened weak.
Deficit Monetisation: Government may get RBI to monetise deficit | India Business News
NEW DELHI: The Centre is likely to look at the option of the Reserve Bank of India (RBI) monetising the … Deficit Monetisation: Government may get RBI to monetise deficit | India Business News Read More »
JNU Prof’s Fix for Economy’s Revival Post Lockdown
According to Mumbai-based think-tank, Centre for Monitoring Indian Economy (CMIE), more than 122 million Indians — mainly daily wage … JNU Prof’s Fix for Economy’s Revival Post Lockdown Read More »
Stocks in Focus on May 27, 2020 | Markets News
New Delhi: Markets gave up early gains to end slightly lower on Tuesday. The BSE Sensex fell 63.29 points or … Stocks in Focus on May 27, 2020 | Markets News Read More »
Amazon in talks to buy autonomous vehicle start-up Zoox
Amazon.com is in talks to buy driverless vehicle startup Zoox, according to a person familiar with the matter, a deal that would accelerate the e-commerce giant’s automation efforts.
Shops reopening 'vital in battle to save Midlands towns'
The reopening of shops has been welcomed by West Midlands Mayor Andy Street, who said it was "vital" for town and city centres.
Cognizant offers voluntary separation package for US staff as Covid hits biz
New Jersey headquartered Cognizant has announced a voluntary separation package (VSP) for its US employees. Due to the slowdown in demand and fewer contracts, the company is shedding the number of employees without active projects.
Reforms in a Covid era: World trade will rise again. Here’s how India can ready itself to take advantage
Covid-19 lull offers India an excellent window of opportunity to implement reforms that would help it maximise the benefit of reopening of export markets post-Covid-19. Indias factor markets – capital, labour and land – still remain major constraints on economic activity
Primark's new rules for when stores reopen
Shops will be allowed to welcome back customers in England from June 15
Bushland wins last-minute reprieve from developers
The Federal Court has ordered the developer of a planned housing estate in threatened woodland on the NSW South Coast to halt work.
Munster braced for worst of financial crisis due to Thomond Park debt
Province can’t pay off oustanding €6.9m loan from IRFU with no supporters at the match
Banks plan for arrears; retailers push to open; and watchdog counts Covid cost
Business Today: the best news, analysis and comment from The Irish Times business desk
South William Street mixed-use investment seeks €2.6m
Sale of Dublin 2 restaurant and residential premises will test strength of market
Israel's Bank Leumi moves to Q1 loss due to coronavirus outbreak
TEL AVIV, May 27 (Reuters) - Bank Leumi, one of Israel’s two largest lenders, swung to a loss in the first quarter due to the coronavirus outbreak.
Malaysia's Axiata to pick two 5G vendors, in move that could curb reliance on Huawei
KUALA LUMPUR (Reuters) - Axiata Group Bhd, Malaysia’s third-biggest telecom operator by subscribers, said it would select two equipment suppliers to roll out 5G services, opening the door for the likes of Ericsson to fight it out with dominant player Huawei.
Israel Discount Bank Q1 profit dips on spike in credit loss provision
JERUSALEM, May 27 (Reuters) - Israel Discount Bank reported a 31% decline in quarterly profit due to a sharp increase in credit loss expenses aimed to protect itself from potential bad loans stemming from the coronavirus outbreak.
Tencent tests appetite for first dollar bond in more than a year
Wechat operator is offering a four-tranche deal.
PM CARES now eligible to receive contribution under CSR; govt amends Act
The Ministry of Corporate Affairs (MCA) has allowed the CSR contributions by making changes to the Companies Act via notification dated May 26
After SEBI's push, companies report financial impact of coronavirus lockdown
SEBI had earlier asked listed companies to disclose to investors and stakeholders the impact of the coronavirus pandemic on their businesses
Torrent Pharma slips 6% on profit-booking; outlook remains a concern
Unlike peers, Torrent Pharma guided for a relatively moderate outlook across geographies, note analysts at Emkay Global Financial Services.
Yasir Al-Rumayyan reveals how the PIF have stayed 'efficient' amid Newcastle United takeover wait
Newcastle United's prospective takeover is in the hands of the Premier League who are conducting their owners' and directors' test and Yasir Al-Rumayyan has outlined how Saudi Arabia's Public Investment Fund have stayed 'efficient' during the coronavirus pandemic
UAE markets open higher as trading resumes post-Eid
DFM investors cheer move to further resume economic activity in Dubai post-lockdown
Banks well-positioned to withstand COVID-19 hit as loan defaults expected to rise - Reserve Bank report
The latest Financial Stability Report uses 'stress tests' to assess bank resilience.
Fortitude Budget: Singapore to tap $31b more from reserves to fund support measures
Singapore will draw another $31 billion from its reserves to fund a fourth package of measures to cushion people and the economy from the coronavirus pandemic. The second draw in the span of two months reflects the impact Covid-19 has had on Singapore's open economy as...
Disrupted home renovations will get priority to resume: Lawrence Wong
Home owners whose renovation works were disrupted will be given priority to restart in phase one of the post-circuit breaker period, said Minister for National Development Lawrence Wong yesterday. The Government will consider allowing new home renovation projects to proceed...
Fortitude Budget: More incentives to support employers to hire workers
The Government will ramp up hiring incentives to employers to support them in hiring workers who have gone through eligible traineeship and training schemes, Deputy Prime Minister Heng Swee Keat said yesterday. For one, the hiring incentive that was first introduced under...
Over $500m to help digital transformation of companies
More than 32,000 people have been infected in Singapore, leaving 23 dead. The Covid-19 pandemic has wreaked havoc here and across the globe, and upended all economies. One irony, though, is that the pandemic has accelerated the drive for digital transformation among...
$100 utilities credit for households with at least one Singaporean
All households with at least one Singaporean member will receive a one-off $100 sum to cover their utility bills. This sum, known as the Solidarity Utilities Credit, will be credited in their utilities bill in July or August and covers all property...
Banks approve 90% of applications to defer mortgage payments
Banks have approved about nine in 10 applications by property buyers to defer mortgage payments. They have also approved more than 90 per cent of applications submitted by small and medium-sized enterprises (SMEs) to defer payments on secured loans. These...
Agencies on front lines of Covid-19 battle to get extra funding: DPM
Agencies on the front lines of the coronavirus pandemic will get extra funding under the $33 billion supplementary Budget announced by Deputy Prime Minister Heng Swee Keat yesterday. This will go towards boosting Singapore's clinical management of cases as well as its...
Zampatti: Made in Australia move crucial to industry's survival
Local fashion designers have welcomed government discussions on boosting the country's textile and manufacturing sector post COVID-19.
ALL McDonald’s drive-thrus in Suffolk to reopen next week
More than 1,000 McDonald’s drive-thru restaurants, including all sites in Suffolk, will be reopened to the public from next week.
Digital Asset Derivatives Platform ZUBR Receives “In Principle” Approval from the Gibraltar Financial Services Commission
ZUBR, a digital asset platform to arbitrage using derivatives, has received "in-principle" approval from the Gibraltar Financial Services Commission (GFSC) t
Overfunding: Neobank for Africans Eversend Surpasses €550,000 in Funding Through Seedrs Round
Eversend, a Neobank for African, has successfully secured its initial €550,000 equity crowdfunding target through its Seedrs campaign. The company is now offe
Coinbase Set to Acquire Institutional Crypto Brokerage Tagomi
Cryptocurrency platform Coinbase announced on Wednesday it is set to acquire Tagomi, a U.S.-based institutional crypto brokerage platform. Coinbase revealed tha
tribeOS is First to use GSX Group’s GRID Platform to Create a Digital Security
The GSX Group recently announced the launch of "GRID" - platform to create and launch digital securities. GSX is the company that operates the Gibraltar Sto
Market movers: Stocks that saw action on Wednesday - and why
Royal Bank of Canada and Bank of Montreal both rise in early trading after releasing disappointing quarterly results
Fiver flutter earns €7,505 Lotto in for lucky Louth punter - Talk of the Town
One household in Co Louth is celebrating this week after a €5 flutter landed a tasty four-figure sum from just three lucky Lotto numbers. The anonymous customer placed a €5 treble via their BoyleSports online account on Tuesday and was left hoping for the trio of numbers to come out in the main EuroMillions draw...Read More→
Internal Struggle at the Biggest Bitcoin Mining Equipment Manufacturer Persists
The Board of Directors of leading Bitcoin mining firm, Bitmain today threatened ousted co-founder, Micree Zhan with legal action if he continues meddling with t
Bitcoin Jumps $9,100 as Dow Prepares For Massive 400-Point Open
Bitcoin closed above $9,100 in a surprising upside move after trading sideways for the entire Asian and early European trading session Wednesday.
Rare penny struck in Northern Ireland breaks auction records
The 17th century coin from Carrickfergus sold for £6,200.
Renault could build cars at Nissan’s Sunderland factory in the future
The Renault Nissan Mitsubishi Alliance has been outlining its plans for the future.
Apple To Reopen Approximately 100 US Retail Locations
Apple, which runs 510 retail locations throughout the globe, intends to open roughly 100 U.S. stores this week.
India's GDP growth may rebound to 5 pc in FY22, says Duvvuri Subbarao
Indian economy may expand by around 5% in the next financial year,ex-RBI guv Duvvuri Subbarao said.
RIL RE price jumps 11% on Day 5 on high volumes
RIL-RE closed at Rs 201.5, a gain of 11 per cent over Tuesday's close, after touching an intra-day high of Rs 209.90.
Some countries are offering to pay tourists to visit after coronavirus
With flights grounded and borders closed amid the coronavirus pandemic, several countries are offering to pay tourists to visit once the crisis is over, according to a report. In Italy, travelers to
Which? launches new way to report delays to your flight refund
A number of customers have been waiting weeks for a flight refund
Ex-NY subway boss named to head London transit system
LONDON — Former New York subway boss Andy Byford has been named London’s new transit commissioner, overseeing Transport for London’s vast network of Tubes, trams, trains and buses.
NHS Taps 25 Firms to Provide Security Under a Massive £250 Million Framework
The NHS awards 25 separate cyber security companies access to a £250 million framework designed to boost its cyber security posture.
Irish ports recorded pre-Covid dip in traffic levels
Main Irish ports handled 12.8m tonnes of goods in the fourth quarter of 2019
Walmart partners with online fashion reseller thredUP
May 27 (UPI) -- Retailer Walmart said Wednesday it's partnering with consignment company thredUP as a measure to boost online fashion sales.
Off-price retailer Tuesday Morning has filed for bankruptcy with plans to close 230 stores
Off-price retailer Tuesday Morning has filed for bankruptcy. The company plans to close approximately 230 of its stores.
Dow climbs 325 points as investors cheer efforts to boost global economies
US stocks rose Wednesday as investors were encouraged by signs that international authorities are taking measures to boost the global economy.
Sari Baldauf takes over as Nokia chair from Siilasmaa
HELSINKI (Reuters) - Sari Baldauf took over as chairwoman of telecoms equipment maker Nokia on Wednesday, succeeding Risto Siilasmaa who chaired the Finnish firm for eight years.
Niger lost $120 million in arms deals over three years: government audit
NIAMEY (Reuters) - Almost 40% of the $312 million Niger spent on defence procurement contracts over the last three years was lost through inflated costs or materiel that was not delivered, according to a government audit of military contracts seen by Reuters.
Factbox: Key climate spending in EU's 'green recovery' plan
BRUSSELS (Reuters) - The European Commission unveiled a 750 billion euro ($826.3 billion) package on Wednesday which it says will put fighting climate change at the heart of the bloc’s recovery from the coronavirus pandemic.
Japan Plans Possible Flight Subsidies to Boost Tourism When/If Any Form of Normal Returns
Japan's tourism chiefs have revealed a quite staggering yet entirely believable modern statistic, showing that incoming tourism during the month of April fell by... go on, have a guess... 99.9 per cent. That left a mere 2,900 overseas travellers entering the country for a massively ill-advised and no doubt quite bizarre holiday during the month.
China buys more; will it be enough for Phase One?
The “phase one” trade agreement with China, one of President Trump’s top trade achievements, calls for Beijing to buy huge quantities of U.S. food, agricultural and seafood exports.
Amazon and other stay-at-home stocks are starting to stall. They may hold the key to the market, strategist says.
While value and small caps are starting to recover, the stay-at-home stocks are starting to lose steam. One strategist is concerned.
Delta Exchange Launches Interest-Bearing Accounts for Crypto Traders
Delta Exchange, a crypto derivatives platform, announced on Wednesday the launch of interest-bearing accounts for its customers.
ZUBR Granted Gibraltar’s In-Principle DLT Approval
ZUBR has received an in-principle decision from the Gibraltar Financial Services Commission to grant the firm authorisation as a DLT provider
TV Stations in US Caught Airing Content Scripted by Amazon – Report
The media content in question emerged ahead of the annual meeting of Amazon's shareholders where worker safety issues were expected to be discussed.
UK Refuses to See Fisheries as Bargaining Chip After EU Signals Concessions in Brexit Talk
The EU has indicated its willingness to ease its stance on fisheries in the Brexit talks and reach a compromise, Reuters reported on Tuesday, quoting sources within the...
Freight companies 'on their knees and will fail' due to coronavirus pandemic
Some hauliers are on their knees and will fail following the coronavirus lock down, an industry spokesman in Northern Ireland predicted.
To meet revenue shortfall, Punjab to go for additional borrowing amid corona crisis
The state governments have extremely limited fiscal space, especially after the implementation of the Goods and Services Tax.
PVR, Inox Leisure stocks hit by uncertainty as coronavirus brings business to halt
With looming uncertainty over businesses, investors are watching the stock movement sitting on boundaries. Since March 24, when PM Modi announced lockdown, Inox stock has lost 17.77% and PVR share price is down 39.20%
Virus sparks record drop in energy investment – IEA
The International Energy Agency estimates global energy investment may plunge by almost $400 billion in 2020
Oil halts rally near $34 on signs of Russia easing supply cuts
Moscow wants to scale back output curbs in line with the OPEC+ deal
India's Ambani prepares Facebook-backed unit for overseas IPO
Mukesh Ambani is reportedly preparing Jio Platforms Ltd. for an initial public offering
Bushland wins last-minute reprieve from developers
The Federal Court has ordered the developer of a planned housing estate in threatened woodland on the NSW South Coast to halt work.
Japan eyes fresh $1.1 trillion stimulus to combat pandemic pain
TOKYO — Japan will compile a new $1.1 trillion stimulus package that includes significant direct spending, to stop the coronavirus pandemic pushing the world’s third-largest economy deeper into recession, a budget draft seen by Reuters showed on Wednesday.
Oil crosses $35 on signs of improving demand - The Nation Nigeria
OIL prices rose on Tuesday, supported by growing confidence that producers are following through on commitments to cut supplies and as fuel demand picks....
Ireland could see 'repeated lockdowns and wide financial distress' during three-year recession
The virus may see our national debt soar by 60%
Asian shares slip as new Hong Kong tensions rise
Hong Kong shares led declines among major regional indexes, with Hang Seng falling 0.46%, though it kept a bit of distance from a two-month low touched on Monday. MSCI's ex-Japan Asia-Pacific index lost 0.12%, with mainland Chinese shares down a similar amount.
Owners of land acquired for link road to New Chandigarh hold protest against administration
Over 50 farmers and their family members on Tuesday held a protest against the land acquisition policy of UT administration.
Rupee slips 8 paise to 75.74 against US dollar in early trade
The rupee opened weak at 75.72 at the interbank forex market and then fell further to 75.74, down 8 paise over its last close.
'Buzz in the air' as Shropshire shops prepare to reopen
Plans to reopen retail next month could save the high street and stop scores of shops being closed for good, according to a Shropshire business owner.
Countryside Stewardship countdown
The application window for the 2021 Countryside Stewardship Scheme is open, giving farmers and land managers the chance to apply for grants to improve both the environment and their farming incomes.
Federal Court picks up torch in Qantas' stand-down test case
The ruling on whether Qantas and Jetstar illegally stood down engineers during the COVID-19 pandemic could have widespread ramifications for companies around the nation.
Edgy Surry Hills offices hit the market
Developer Cornerstone is looking to sell the assets – at 10-14 Waterloo Street and No. 1 Lacey at 119 Kippax Street – in one line or separately, as it looks for new redevelopment and adaptive re-use projects.
Lew jnr to bolster his group with MyHouse acquisition
It could almost be time to head to the clearing house.
Regional pubs snapped up as industry prepares to reopen
The Post Office Hotel in Moree, the Royal Hotel in Condobolin, the Neath Hotel in the Hunter Valley and the Yenda Hotel in Griffith changed hands for a total of $22m.
Chicago to reopen trading floor with masks
New York stock exchange floor traders had to sign a waiver that prevents them from suing the exchange if they are infected there.
Construction at lowest level since 2010
While home-building has weakened for a seventh consecutive quarter and is likely to weaken further, other sectors remain 'decent'.
Rs 15,000 crore worth MoUs to be signed in TN today
Even before the lockdown could fully be lifted, Tamilnadu is today set to sign MoUs with multiple companies which are keen to invest in the State. Continue Reading →
COVID-19: Jonathan tasks Africa to look inward for solutions
AS the COVID-19 pandemic continues to ravage the world, Former President, Dr Goodluck Ebele Jonathan, has tasked African
Forex Today: Only a correction? Dollar trying to lick its wounds amid Sino-American tensions
Here is what you need to know on Wednesday, May 27: The market mood remains upbeat yet the dollar is attempting to recover after a significant drop on
EU’s Borrell: To weigh 'robust' message to China over Hong Kong issue
The European Union (EU) Foreign Affairs Minister Josep Borrell said that the Union is considering weighing 'robust' message to China over the Hong Kon
GBP/USD: Potential move to 1.2400 on the cards – UOB
Cable could extend the upside momentum to the 1.2400 mark in the next weeks, suggested FX Strategists at UOB Group. Key Quotes 24-hour view: “Yesterda
Asian stock market: Mixed as Tuesday’s optimism fades on fresh US-China tension
Asian equities fail to reprint the previous day’s flying colors as market players fall back upon US-China tussle amid increasing odds of the US sancti
Gold Futures: Downside seen shallow
Open interest in gold futures markets receded for the third consecutive session on Tuesday, this time by around 4.2K contracts according to preliminar
Predicting the course of US-China relations in the post Covid-19 era
Authors: Ayush Banerjee and Dhritiman Banerjee* The coronavirus pandemic is a natural threat to the geopolitical order. And it is needless to state that this majorly affects the currently international paradigm in a manner that the world has not seen before. Although there have been a few instances where pandemics have shaken the mortality rates, […]
COVID-19 Impact: Boeing expected to announce job cuts in US after aviation sector rocked by plunging travel demand
In April, Boeing chief executive Dave Calhoun said the company had “begun taking action to lower our number of employees by roughly 10 percent through a combination of voluntary layoffs, natural turnover and involuntary layoffs as necessary.”
Renault, Nissan rebuild alliance to ride out coronavirus storm; thousands of jobs to be at risk after restructuring plans: Report
When Renault SA, Nissan Motor Co and Mitsubishi Motors Corp announced the last strategy plan for their Alliance in September 2017, the goal was to become the world’s biggest automaker by 2022.
Rupee slips 8 paise to 75.74 in early trade, forex traders concerned about rising US-China tensions
The rupee depreciated 8 paise to 75.74 against the US dollar in opening trade on Wednesday as market participants were concerned about rising tensions between Washington and Beijing in the wake of the coronavirus pandemic
Covid-19 fallout: Lower capex by states to weigh on EPC sector
As a result of the disruption caused by Covid-19, States staring at huge revenue deficits could reduce capital expenditure, thereby impacting the engineering, procurement and construction (EPC) sector
If plans fructify, NHPC will become world’s largest floating solar company
So big are its ambitions that if plans fructify, NHPC Ltd will become the world’s biggest floating solar power company and will hold the record for a very long time. The public sector power major prop
Renault and Nissan rebuild their alliance to ride out the coronavirus storm
When Renault SA , Nissan Motor Co and Mitsubishi Motors Corp announced the last strategy plan for their Alliance in September 2017, the goal was ...
Don't Gamble In The Markets, Look At These 2 Blue Chip Healthcare Names Instead
Bristol-Myers Squibb and AbbVie offer rare clarity in today's market. Both names have reaffirmed 2020 guidance and are calling for strong growth. Both names are
Singapore fintech firm secures $17M to build out platform | ZDNet
Raking in $17 million in its latest fund raising, GoBear will be looking to build up a "full-fledged financial services platform" and tap an estimated base of 300 million in the region who remain underserved by existing market offerings.
Mega lockdown puts India's animal spirits to sleep in April
India Business News: India’s economy was pushed into a state of dormancy in April as the world’s strictest stay-at-home measures to contain the coronavirus took its toll.
Government has no choice, must listen to wise counsel: Chidambaram
India Business News: The Congress, after rejecting the govt's economic package announced to revive the economy, has said that sooner than later the govt will accept the su
One million businesses claim £15bn from Government furlough scheme
HMRC said more than £6.8bn has been claimed via 2.3 million applications from those who are self-employed and unable to work.
Low-income families are spending more on food since March, says report
Low-income families have increased their spending on food by more than 30% since March when the national Covid-19 lockdown began, writes Ground Up.
The Daily Chase: RBC, BMO Q2 profits sink; Huawei CFO hearing
Royal Bank Canada and Bank of Montreal saw their profits cut in half in the fiscal second quarter, and missed expectations in the process, as provisions for credit losses ballooned at both institutions.
Citi kicks off Eni gas sale with $US165m free-cash-flow pitch
Commodity exposure without the commodity price risk – that's the headline pitch from the energy giant.
Knauf calls in the bankers as Aus building materials sector in play
German building materials giant Knauf has thrown its Australian assets into a wider industry shake-up, and is considering options including a merger or sale to another trade player or private equity firm.
Advent Partners hones in on GP software biz
The Australian buyout firm is delving back into two of its favourite sectors for its latest investment.
Exclusive: Latest images show China's war threat may not be rhetoric
Fresh images from the European Space Agency show signs of movement in the Aksai Chin region as late as the third week of this month.
EU Commission: European recovery plan and next long-term budget to use €1.85 trillion
The European recovery plan and the next long-term budget will use €1.85 trillion to kick-start the EU economy, Reuters reported on Wednesday, citing t
USD/JPY: Gaining bullish strength
The USD/JPY pair continues to trade within familiar levels, now hovering around 107.70 with a mildly bullish bias, according to FXStreet’s Chief Analy
USD/JPY climbs to fresh daily highs above 107.80 supported by risk-on flows
The USD/JPY pair fluctuated in a very tight range near 107.50 during the Asian trading hours but started to climb higher on strengthening risk appetit
Beyond Twiplomacy: Diplomacy and the Digital Fast Forward
The practice of diplomacy in the virtual space is geared towards amplifying foreign policy drives and messages and forms a vital and dynamic branch of strategic communication. Now, more than ever before, we are faced with the inexorable certainty of a digital future – a future that has already begun. As COVID-19 thrusts the world’s […]
Trump’s silver lining — economic numbers could be surging by Election Day
There is one possible silver lining for President Trump in the dismal economic numbers that have followed the coronavirus lockdowns and jeopardized his reelection: There is nowhere to go but up.
Govt may launch coal blocks auction process under commercial mining on 11 June; 50 mines likely to be put on sale
The government last week approved a methodology for commercial mining of coal on revenue sharing basis.
Moderate participation expected in spectrum auctions; telecom industry's debt to elevate at Rs 4.6 cr in FY21: ICRA
Rating agency ICRA expects moderate participation for the upcoming spectrum auctions at Rs 55,000-Rs 60,000 crore due to the limited financial flexibility of the industry
10 things you need to know before the opening bell, Business Insider - Business Insider Singapore
Business Insider - This is what traders are talking about.. Read more at businessinsider.sg
The EU plans a record-breaking new stimulus package of $826 billion to soothe Europe's economic pain from the coronavirus, Business Insider - Business Insider Singapore
Business Insider - The European commission aims to fund its recovery plan by raising unprecedented sums on the financial markets.. Read more at businessinsider.sg
10 things you need to know before the opening bell, Business Insider - Business Insider Singapore
Business Insider - This is what traders are talking about.. Read more at businessinsider.sg
Date announced for Nottingham branch of John Lewis to reopen - and what customers can expect
Numerous safety measures will be in place
Cognizant offers voluntary separation package to 400 mid, senior managers
Move aimed at IT services major’s US employees
Data of 4 crore Indian users of Truecaller up for sale on dark web: Report
Cybercriminals have leaked personal data of over four crore Indian users of the Truecaller app on the dark web, according to recent reports.The leak has been detected by cybersecurity researchers at C
FG needs to call OGEFZA management to order –Free trade zones stakeholders
OGEFZA seeks to achieve two objectives: to absorb the private sector Free Zones operators in oil and gas logistics services into its fold and under the
Otrium is Trying to Solve Fashion’s Inventory Problem
The online designer outlet is looking to fuel international expansion with this round, led by Eight Road Ventures.
China's GAC keeps target of 3per cent sales growth despite coronavirus pressure
Chinese automaker GAC , which has partnered with Toyota , Honda and FCA , will stick to an annual target of 3per cent in sales growth this year ...
Tracking Dan Loeb's Third Point Portfolio - Q1 2020 Update
Dan Loeb's 13F portfolio value decreased from $8.70B to $6.27B this quarter. The number of positions decreased from 37 to 30. Third Point increased Amazon and C
Sterling Bancorp: Deposit Repricing To Counter High Credit Costs, Yield Decline
Provision expense will likely be higher than normal in the second quarter due to the deterioration in the economic outlook. The maturity of expensive deposits a
Nordic Semiconductor: New Cellular Products Will Accelerate Revenue Growth And Margin Expansion
Nordic Semiconductor is the undiscovered leader in short-range wireless chips, such as Bluetooth low energy. The company has developed long-range cellular chips
Wall Street Breakfast: Blastoff!
Listen on the go! A daily podcast of Wall Street Breakfast will be available by 8:00 a.m. on Seeking Alpha, iTunes, Stitcher and Spotify. U.S. ambitions to rec
It's A Bird, It's A Plane, It's Brookfield Property REIT
Although BPY/BPR is considered a mall REIT, the company technically is considered a diversified REIT because it invests in core office, retail and multifamily p
Chicken Soup For The Soul Entertainment: This Streaming Company's 10.4% Preferred Yield Is Good For The Soul
Chicken Soup for the Soul Entertainment is an emerging streaming company. In Q1 2020, the company made a cash flow milestone, which should give preferred shareh
B2B credit network Fundbox secures fresh investment from MUFG
US B2B payment and credit network Fundbox has secured a fresh equity investment from MUFG Innovation Partners, the corporate capital arm of the giant Japanese bank.
GoBear raises $17 million for underbanked play
Singaporean financial comparison site GoBear has raised $17 million in funding from returning investors Aegon and Walvis Participaties.
EU proposing £670bn recovery fund in response to pandemic crisis
Paolo Gentiloni’s announcement came amid divisions in the bloc.
McDonald’s to reopen more than 1,000 restaurants by next week
The chain said it closed some drive-thru lanes last week after soaring demand impacted local communities or staff and customer safety.
The Wedge gets creative
Developers of a unique, six-storey downtown office building have come up with a creative way to solve their parking issue.
Sotto: Gov’t needs to rebuild economy
SENATE President Vicente Sotto III on Wednesday said government needs to put a premium in rebuilding the economy once it relaxes current strict community quarantines that have been imposed to minimize the health impacts of the coronavirus disease (COVID-19).
SMBs Can Apply for Full Paycheck Protection Program (PPP) Loan Forgiveness
Small businesses can now apply for a full paycheck protection program (PPP) with loan forgiveness. To qualify organizations must show 75 percent of their loans were used on payroll and the other 25 percent was spent on expenses like rent or utilities.
Kolkata Metro Railway to start trial run of trains for maintenance purpose
All the rakes will be run as part of the trial beginning Thursday.The Metro Railway had earlier said that strict social distancing norms would be maintained at every point from entry to travelling by the trains after recommencement of services
Kerala launches BevQ app to sell liquor
Kerala, which has the highest per capita alcohol consumption in India, rolled out the app to deliver e-tokens for liquor purchase.The app is the state's exit-strategy to open alcohol shops closed due to the lockdown in the wake of the covid-19 pandemic
AfDB board bows to US pressure to probe its president
Africa’s largest multilateral lender decided on the inquiry after several governments backed U.S. Treasury Secretary Steven Mnuchin’s criticism of a bank-led examination into the allegations, the
Hong Kong unrest worries curb global shares rally
TOKYO, May 27 — Unrest in Hong Kong over Beijing’s proposed national security laws weighed on global shares and oil prices today, offsetting optimism about the re-opening of the world economy. Riot police fired pepper pellets on protesters in Hong Kong’s main business district, rekindling...
UK lockdown drives fastest growth in grocery sales for over 25 years
LONDON, May 27 — UK grocery sales rose by 14.3 per cent during the 12 weeks to May 17, the fastest rate since comparable records began in 1994, as Britons adapted to the national lockdown, data from market researcher Kantar showed today. The period included both the pre-lockdown rush to the shops...
Renault and Nissan deepen cooperation in bid for survival
TOKYO, May 27 — Renault, Nissan Motor Co and Mitsubishi Motors Corp said today they would each take a lead on car manufacturing in different regions in a wide-ranging revamp of their partnership to slash costs and survive. The three carmakers are reeling from the coronavirus pandemic which...
Covid-19: Malaysia has sufficient supply of food and necessities, says minister
SERIAN, May 27 — Malaysia has sufficient supply of basic food and necessities to last during the current Covid-19 pandemic period, said Minister of Domestic Trade and Consumer Affairs (KPDNHEP) Datuk Alexander Nanta Linggi. He said the KPDNHEP, together with the Ministry of Agriculture and Food...
Supermarkets see fastest sales jump in 26 years with online orders soaring
Kantar found that sales jumped 14.3% in the 12 weeks to May 17 in grocers, including the period of lockdown when restaurants, bars and pubs shut.
Regional mining equipment, technology, service companies targeted with innovation accelerator program
"When those mines in Victoria expand, it means they can get in there getting those business opportunities."
Boeing cutting more than 12,000 jobs with layoffs, buyouts
The company said it will lay off 6,770 workers this week, and another 5,520 are taking buyouts.
Commentary: More action needed to bolster economy — and quickly
A dollar spent on speeding our recovery today will pay off with dividends across the decades to come.
Coronavirus: 'Short-lived' rebound in house hunter demand
Buyer demand leapt when curbs on the sector were lifted in England, but may not last long-term, analysis says.
David Jones, Country Road sales tumble amid pandemic
The South African parent group has appointed local bankers at UBS to run the rule over its property portfolio in order to repay debt.
News Corp to cut hundreds of jobs in restructure
News Corp is on the verge of announcing large scale job cuts as it restructures its Australian publishing business, and moves many of its regional and community newspapers into a digital only model.
'Catch-up rally': banks tower above the rest on ASX
The combined value of the big four swelled by almost $20 billion in just a few hours of feverish trading on Wednesday.
$3b saved as NSW public service pay frozen
NSW is freezing pay increases for 410,000 public servants for a year and will use the $3 billion in savings for job creation and recovery.
Is this the death knell for bank branches?
Older people and small businesses are the big users of bank branches. But bankers are waiting to see how much their behaviour has changed in the wake of the pandemic.
'Flying Bullets' operationalised, IAF chief takes Tejas sortie
Coimbatore: Chief of Air Staff Air Chief Marshal R K S Bhadauria flew a Tejas single-seater light combat aircraft at the Sulur air force station on Wednesday. Officials said Air Chief Marshal...
Deal struck to allow cabling from Scotland’s biggest windfarm under world-famous Carnoustie links
A deal has been struck to allow part of Carnoustie’s world-famous golf links to be used for cabling from what will become Scotland’s largest offshore windfarm.
EUR/USD: The safe-haven US dollar is gaining some ground
EUR/USD has been retreating amid intensifying Sino-American relations as speculation about the next central bank moves stands out, Yohay Elam, an anal
S&P 500: Fully valued on some measures – UBS
Global equities have recovered swiftly from the COVID-19 pandemic with the S&P 500 climbing above 3000 points for the time since late February. The ra
GBP/USD: At 1.38 by year-end in the best scenario – UBS
The US dollar appreciated substantially through the crisis as investors sought the liquidity and safe-haven appeal of the US dollar. Nonetheless, anal
GBP/USD Price Analysis: Finds some support near 38.2% Fibo./descending channel confluence region
The GBP/USD pair stalled its overnight strong bullish momentum near the 50% Fibonacci level of the 1.2644-1.2076 recent downfall and witnessed a modes
USD/CAD struggles near 2-1/2 month lows, just above mid-1.3700s
The USD/CAD pair traded with a mild negative bias through the early European session, with bears flirting with 2-1/2-month lows, just above mid-1.3700
AUD/USD: Potentially higher with resistance at 0.6659 – OCBC
The broad USD took a serious hit, as investors continue to impute positivity on the back equities and shake off any negative developments in the Sino/
USD/BRL: 6.00 is a realistic upper barrier – Credit Suisse
Analysts at Credit Suisse think the more forceful FX intervention language and improved external sentiment warrant a range approach to USD/BRL, target
EUR/USD remans under pressure around the 1.0960 area
The single currency came under selling pressure on Wednesday and is now forcing EUR/USD to retreat to the 1.0960 region. EUR/USD sheds ground on USD-b
Government has no choice, must listen to wise counsel, says Chidambaram
The Congress has been demanding cash transfer directly to the people's account to the tune of Rs 65,000 crore.
Gold prices hit two-week low on optimism around reopening of economies; US-China tensions temper losses
Gold prices touched a two-week low on Wednesday due to optimism around the reopening of several economies, but increasing Sino-US frictions over Beijing’s proposed security law for Hong Kong tempered losses
Shares in Latin America's biggest airline plunge after bankruptcy filing
Shares in Latin America's largest airline plunged on the New York and Santiago stock exchanges on Tuesday after LATAM filed for bankruptcy in the US.
Virus sparks record drop in energy investment: IEA
The energy industry is set to suffer a record drop in investment due to the coronavirus fallout, the IEA said on Wednesday, and while renewables are likely to fare better than oil, any swift economic ...
Restaurant owners to bang pots and pans in Old Montreal in bid to reopen
MONTREAL — Some Montreal restaurant owners are planning to take their pots and pans to the streets Wednesday morning, demanding answers on when they can reopen their restaurants.
Israeli Economy Shrinks By More Than 7 Percent Amid COVID-19 Crisis
Private spending dropped by 20.3 percent, investment in fixed assets by 17.3 and exports by 5.9 percent from January to March, according to Israel’s Central Bureau of Statistics.
Dangote, MTN emerge most admired African brands
In his reaction, Group Chief Corporate Communication Officer of the Dangote Group, Anthony Chiejina, said the management was not unexpected of
COVID-19: Kaduna govt extends restrictions by two weeks
It added that according to the COVID-19 review report, "many of the cases recorded in Kaduna State have either been from persons with a history of
Oil falls on demand concerns, US-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 ...
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 ...
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 ...
Hong Kong unrest worries curb global shares rally
Unrest in Hong Kong over Beijing's proposed national security laws weighed on global shares and oil prices on Wednesday, offsetting optimism about ...
Occidental Petroleum - Africa Asset Sales Collapse, What's Next?
Roughly $4 billion in Occidental Petroleum's planned asset sales haven't panned out in Africa. These asset sales were supposed to pay down debt. Fortunately, cr
Why Technology Is Proving Surprisingly Defensive
In mid-February, the market was at an all-time high, unemployment was at a 50-year low and investors were starting to contemplate a Sanders presidency. Despite
Only The Lonely Can Play
Great investment opportunities are lonely. History shows us the crowd behaviors to avoid and the investment market circumstances to capitalize on. We believe we
Stripe expands in Europe, adding five more countries
Stripe, the €33bn online payments firm created by Limerick brothers Patrick and John Collison, is to roll its services out to another five European countries — Czech Republic, Romania, Bulgaria, Cyprus, and Malta.
Is the COVID-19 crisis spurring faster digital transformation or short-term IT fixes? | ZDNet
According to a global survey from AppDynamics, most IT professionals are concerned about the long-term impact of their current digital transformation initiatives.
Four recruitment firms join hands to help India Inc return to work
India Business News: Four global HR services companies -- Randstad, The Adecco Group, ManpowerGroup and Gi Group -- have formed an alliance to “help India get back to work
Supermarkets see fastest sales jump in 26 years with online orders soaring
Kantar found that sales jumped 14.3% in the 12 weeks to May 17 in grocers, including the period of lockdown when restaurants, bars and pubs shut.
Deputy calls for figures to back up ‘buy local’ campaign
ROBUST data showing why buying goods and services locally is so important is needed as soon as possible so that a convincing case can be made to reinforce the message of the JEP’s Celebrate Local campaign, a States Deputy has said.
'Reboot, reform' of agriculture pushed
During the launch of the "Plant, Plant, Plant" program in line with the celebration of the farmers and fisherfolk's month at the Department of Agriculture central compound in Quezon City, Dar said the agriculture sector should be more responsive especially with the pressing issues faced by the country.
Holcim restarts Luzon, Davao operations
Leading cement manufacturer Holcim Philippines, Inc. has restarted manufacturing and logistics operations with stronger health and safety controls in all its sites nationwide after pausing cement production in compliance with government quarantine measures against coronavirus disease 2019.
$400-M ADB loan to fund PH capital market dev’t
The Asian Development Bank has approved a $400-million policy-based loan to support the government’s efforts to strengthen domestic capital markets and reach its development goals of high, sustained economic growth, and poverty reduction.
55 Covid-related goods makers keen on investing in PH
Trade and Industry Sec. Ramon Lopez said 55 companies manufacturing products to fight the coronavirus disease 2019 outbreak have expressed interests to invest in the country.
Amid Covid-19 challenges for raising capital, gold M&As were a feature of Q1 2020
The mining deals decline was partially offset by a 26.4% increase in mergers and acquisitions (M&As), especially involving gold.
Gold Price Forecast: New Trend Lower is Forming
Gold prices are have fallen for three days in succession now and mid-week trade sees the precious metal lower at $1708. Analyst and technical forecaster Richard Perry of Hantec Markets says there is a risk gold shifts into a near-term downtrend
GBP/USD Forecast: Holding Support will be Key
The GBP/USD exchange rate rallied to a high of 1.2362 over the course of the past 24 hours and has since settled back at 1.2312 at the time of writing. Analysts and technical forecaster Richard Perry asks whether Sterling has what it takes to push higher
Mumbai lockdown: Flight passengers moving to or from airport don't need to carry e-pass
'All flight travellers moving to/from the Mumbai Airport can do so without an e-pass,' Mumbai police tweeted.The domestic flights were allowed to operate with reasonable restrictions, from May 25
'Trans-Tasman bubble' between Australia and New Zealand could open in September
A travel industry group working to establish a 'Trans-Tasman bubble' says it will present a plan to both governments early next month and eyes flights resuming as early as September.
Value hunting? This stock market has become mouth-wateringly cheap
Stocks in Hong Kong have become cheap as China tries to tighten its grip, but Beijing’s own self-interest suggests it won’t stamp out success
Telecom growth on hold as pandemic cools demand
Rogers., Telus and BCE face stalled wireless subscriber growth and sharp drop in roaming revenues
Opinion: The pandemic has exposed the crack in our fiscal armour
Almost instantly, the COVID-19 downturn proved Canada’s EI system is too slow, too exclusionary and hardly up to task
Boeing to axe 12,000 US workers even as Max assembly resumes
Aircraft manufacturer says production of grounded jet will initially be at ‘low rate’
Analyst Who Called Bitcoin Drop to $3,000s Expects Another Brutal Bear Market
Bitcoin has rallied strongly since the $3,700 lows established in March. From the bottom of the crash, the cryptocurrency is now up just shy of 150%.
SoFi Sees Investor Accounts Double Thanks To Fractional Shares
The CEO of SoFi, the personal finance company based in San Francisco, said its investor accounts have doubled this year, mostly due to fractional shares.
WA sends bureaucrat to China on 'Belt and Road' mission after Premier rules out deal with Beijing
The WA government has sent a senior bureaucrat on a mission to China organised by an organisation advising the Victorian government on its Belt and Road Initiative deal with Beijing.
Saudi Arabia’s bid for Premier League rights helping to smooth Newcastle takeover
Saudi Arabia's bid for Premier League rights helping to smooth Newcastle takeover
Ohio counties sue major pharmacies for role in opioid crisis
May 27 (UPI) -- Two Ohio counties on Wednesday filed a lawsuit against several major U.S. pharmacies, stating they were complicit in perpetuating the opioid crisis.
Exxon shareholders soundly reject splitting CEO/chairman roles
(Reuters) - Exxon Mobil Corp (XOM.N) shareholders soundly rejected climate-related proposals and splitting the chairman and chief executive’s roles at the oil major’s shareholder meeting on Wednesday.
News Corp to stop printing more than 100 Australian regional papers
Rupert Murdoch's Australian flagship media group News Corp announced Thursday it will stop printing more than 100 regional and local newspapers, blaming a collapse in advertising made worse by the coronavirus pandemic. The decision comes after News Corp announced on April 1 it was temporarily halting printing of around 60…
Apple is reopening more stores, but online progress also sparks optimism
Apple Inc. is slowly reopening more of its stores in what one analyst calls a “sign of improving trends,” but the company seemed to be making strides in the...
Charles Schwab-TD Ameritrade Merger Hit by Eight Lawsuits
Boards of Charles Schwab and rival TD Ameritrade have invited their respective shareholders to agree on the all-stock merger that was valued at $26 billion.
Bhopal: Market opens but no business on day 1, traders not happy with 11am- 5pm timing
The district administration has permitted opening of shops in phased manner from 11am to 5 pm
"Everyone Is Shocked": CBS News Hit Hard by Layoffs
"I’m really sorry," network president Susan Zirinsky said Wednesday on an all-staff Zoom meeting about the cuts. "There is not a person who won’t be missed."
More than eight in 10 Ryanair passengers are STILL waiting for refunds for cancelled flights, says Which?
Just five per cent of Ryanair customers have had their money returned to them for cancelled flights within the seven day legal time frame, according to a poll by the UK consumer champion.
Post Covid-19 lockdown, hospitality sector to see steep credit stress: Icra
“The demand has declined to the lowest levels that the industry has ever witnessed; it is clear that this is the biggest crisis ever by the sector,” Icra said.
Combating economic downturn post Covid-19 pandemic: Sync trade and FDI policies
Revise the existing institutional mechanisms for trade and investment policymaking to make policies more coherent and inclusive
‘Aatmanirbhar’ package for agriculture: Sowing half-reforms
While the government deserves credit for announcing agri-reforms that have long been in the making, these may remain halfway measures as it has refrained from biting the bullet on truly freeing up the sector
No need to worry about food inflation for six months, says expert
The buffer stock has been procured by the government at Rs 37 per kg and Rs 27 per kg for wheat, and this is sold through PDS at Rs 2-3 per kg, which involves a huge subsidy, he said.
Rs 20 lakh crore Covid-19 relief package: Missing demand
The package has a large role for RBI, with 40% of the amount mentioned being provided as liquidity by the central bank.
Greece “will invest, not spend, its share” of the EU €750 billion recovery plan
Following the announcement of the €750 billion aid package to help Europe's economic recovery from the fallout of the coronavirus pandemic, Greek government
Here's When You Can Expect Tattoo Parlors to Open Back Up in Each State
The coronavirus pandemic is nowhere near over, but nearly all states in the US have officially introduced plans to reopen their economies after several weeks
Analysts are Cautious of the Crypto Market’s Latest Push Higher; Factors to Consider
Multiple crypto analysts have noted that a few factors that suggest this Bitcoin upswing will be short-lived due to a few trends
Govt to discontinue 7.75% saving bonds from May 28
The curtain will come down on the most attractive ‘RBI 7.75% Saving Bonds’ on Thursday, 17 years after they were launched in 2003 to encourage retail investors but became an instant hit with the
Job numbers plummet by 37,500 in April as COVID-19 economic impact cripples businesses
COVID-19 impact and restricted trading is heavily impacting the economy.
News Corp shuts down more than 100 print titles, hundreds of jobs to go
News Corp has confirmed its plans to axe hundreds of jobs as it moves to a digital-focused future.
Alibaba Hunts for a Million Influencers Keen to Make Big Money
Alibaba Group Holding Ltd. pioneered the use of live-streaming hosts to sell everything from lipstick to smartphones in China. Now, the e-commerce giant wants to repeat that success globally with the help of a million influencers on forums from TikTok to Instagram.
Carl Icahn Exits Hertz After Six-Year Bet Ends With Bankruptcy
Billionaire investor Carl Icahn has sold out of Hertz Global Holdings Inc., the rental-car company that filed for bankruptcy last week and counted him as its biggest shareholder.
Delhi: Markets empty, traders say Metro is only sliver of hope
The centrality of the Metro and full bus services was echoed by the market associations of Lajpat Nagar and Karol Bagh, which reopened with approximately 30% and 48% shops respectively.
Total coronavirus cases in Gulf Arab states surpass 200,000, tally shows
DUBAI, May 28 — The number of coronavirus cases in the six Gulf Arab states doubled in less than a month to surpass 200,000 yesterday, according to a Reuters' tally, at a time the region's two biggest economies move to resume activity. Coronavirus infections in the energy producing region, which...
Experts: Just beating Covid-19 is not enough to return consumer confidence
KUALA LUMPUR, May 28 — Economic observers think it will take more than just overcoming the Covid-19 threat in the country to restore consumer and investor confidence. They predict that it will only see a resurgence if the government can roll out a sustainable post-Covid-19 economic plan to help...
United Airlines reshuffles management as it prepares for uncertain recovery
NEW YORK, May 28 — United Airlines Holdings Inc is reshuffling its management team to help the airline prepare for the near-term uncertainty of travel demand, new Chief Executive Scott Kirby told employees yesterday, as restrictions to keep the coronavirus from spreading are lifted. With...
ICC Board Meeting: World T20 most likely to be postponed to 2022, October window for IPL
New Delhi: The postponement of this year’s T20 World Cup in Australia to 2022, which might open up a window … ICC Board Meeting: World T20 most likely to be postponed to 2022, October window for IPL Read More »
Government has no choice, must listen to wise counsel: Chidambaram
NEW DELHI: The Congress, after rejecting the government’s economic package announced to revive the economy, has said that sooner than … Government has no choice, must listen to wise counsel: Chidambaram Read More »
Kenya Airways takeover law to be out by August
Assembly team says it is on course to deliver legal framework.
ICTU warns against 'cliff edge' removal of COVID-19 payments
The head of the Irish Congress of Trade Unions (ICTU) says income supports, such as COVID-19 pay...
PBOC injects $16.8 billion via reverse repos, keeps rate unchanged
With no reverse repos maturing on Wednesday, the PBOC injected the funds into the market on the day.
Reliance’s $7 billion rights rings in new trading venue in India
Reliances rights entitlement began trading on May 20 at 151.15 rupees.
Very positive on Bharti Airtel, use dips to accumulate stock: Dipan Mehta
‘Telecom is one industry which is able to maintain its present earnings power
After-school sector wants free care extended over winter holidays
While schools have resumed full-time teaching, the out-of-school-hours sector is unsure how many families will still need its services
Nokia Shuts Plant in Tamil Nadu After 42 Employees Test Positive for COVID-19
Nokia last week suspended operations at a telecoms gear manufacturing plant in southern India, the company said on Tuesday, after some employees tested positive for COVID-19.
Bulgaria to reopen restaurants, bars and cafes on June 1
SOFIA (Reuters) - Bulgaria will allow restaurants, bars and cafes to reopen at full capacity on Monday as the Balkan country further eased restrictions imposed in mid-March to stop the spread of the coronavirus.
Sporton busy fulfilling orders for inspecting 5G sub-6GHz chips, handsets
Taiwan-based Sporton International has been busy fulfilling orders from MediaTek for testing and certifying its 5G sub-6 GHz mobile SoCs as well as orders from Chinese handset vendors for inspecting their 5G smartphones to help them win approvals from international verification organizations, according to industry sources.
Raising IC self-sufficiency increasingly difficult for China
US vendors remain dominant players in the global front-end semiconductor equipment market segment, which will be a critical factor blocking China's ambition of raising self-sufficiency for ICs, according to industry observers.
Chang Wah to double QFN leadframe capacity in 2020
Leadframe specialist Chang Wah Technology (CWTC) has disclosed plans to expand production capacity for QFN (quad flat no-lead) leadframes at its factory sites in China and Taiwan this year.
Covid-19 lockdown: Indian economy to contract 5% in 2020-’21, predicts Fitch Ratings
The contraction is mainly because of the sharp slump in consumer spending and fixed investment amid a ‘very stringent’ lockdown policy.
Lending a Hand: Pornhub Donating to 10 Charities to Mark 10 Million Followers on Instagram
The world's biggest porn site is also aiming to be the world's most generous one. Pornhub has cropped up since the start of the pandemic, donating to coronavirus...
Steep US stock correlations show virus’s impact on markets
S&P 500 three-month realised correlation elevated despite VIX slump.
Volkswagen in final talks to seal biggest M&A deals in Chinese EV sector
The deals would make Volkswagen the latest foreign automaker to increase ownership in China since the government started to relax ownership rules in 2018 here with Germany's BMW AG quick to take control of its main local venture
JSW Steel to achieve supply normalcy by June; demand revival to take much longer
JSW Steel did not increase the inventory during the lockdown. It had capacity utilisation of 38 per cent in April and it increased to 85 per cent in May
This Rakesh Jhunjhunwala-held stock falls 3% as firm logs zero sales in first six weeks of lockdown
Share price of Titan Company slid up to 2.81% to Rs 868 compared to the previous close of Rs 893.15 on BSE
Demand for properties surges in Leeds, Newcastle, Portsmouth and Southampton as pent-up buyers return
Zoopla says demand from buyers was 20% higher in the week following the reopening of the housing market on 12 May, compared to the beginning of March.
Halfords to reopen 53 stores after physical-distancing trial
Customers allowed in store for first time since UK coronavirus lockdown started on 23 March
Covid-19: Google to reopen offices in July for limited number of employees
The company will also be giving $1,000 stipend for home office equipment to make remote work easier
Global energy investment may see a record fall in 2020 over Covid-19: IEA
Governments are easing restrictions put in place to curb the spread of the virus after the confinement of around 3 billion people brought the global economy to a near standstill
Renault, Nissan, Mitsubishi outline new plan to survive coronavirus crisis
On Wednesday, the Alliance partners will outline a new plan with a less lofty objective, survival, the Reuters reported
This Pidilite Industries-promoted stock has rallied over 100% in one month
Vinyl Chemicals surged 10 per cent today to hit a 52-week high of Rs 109. The stock has rallied 111 per cent in the past one month from level of Rs 51.66 on the BSE
Elgi Equipments to wind up Chinese subsidiary over economic downturn, Covid
The subsidiary is in the business of import, warehousing, selling and servicing. The winding-up activities are likely to begin shortly
Nokia shuts factory in Tamil Nadu after 42 test positive for COVID-19
Earlier this month, Nokia shut down its manufacturing plant in Tamil Nadu, India. The company made the move after employees tested positive for the Coronavirus infection. While the official numbers weren’t given out, a source close to the situation claimed that the infected number of people reached 42. Back when the COVID-19 cases had initially …
Union Properties’ subsidiary to claim approximately Dh1.5b
The claim is related to construction work that was completed around 10 years ago
Hotel owner Accor cuts 800 jobs in Middle East and Africa
Positive signs are starting to appear in the UAE and Saudi Arabia, says CEO
Nokia shutters manufacturing plant as employees test positive for Covid-19
Nokia is the second manufacturing company after Oppo in recent weeks to open up its plant and quickly shut down due to workers testing positive for Covid-19.
'Lift your game or go': APRA ups pressure on super funds to merge
'Lift your game or exit the industry' is the message from the prudential regulator.
Bank stocks rake in $17 billion as investors revel in recovery party
Portfolio managers are coming to the view it's a bigger risk to be underweight bank shares as investor sentiment on the sector switches from negative to positive.
Another two Grow Super staff stood aside amid Dally M scandal
Two staff at Grow Super have been stood aside amid a police probe into a betting plunge on the Dally M.
China stocks fall on rising Sino-U.S. tensions, economic worries
SHANGHAI — China stocks fell on Wednesday as rising Sino-U.S. tensions and lingering worries over the coronavirus damage on the economy curbed risk appetite.
Halfords to reopen 53 stores to cope with cycling demand and car repairs
The high street retailer has been allowed to trade throughout lockdown, but chose to close stores to the public to protect staff.
France expects economic slow-down by 20% in Q2
French gross domestic product in the second quarter of 2020 is forecast to drop by massive 20%, according to the country’s official INSEE statistics as reported by The Guardian.
Bank: Lithuanian billion-rescue-plan may be slowed down by red tape
As the Lithuanian government plans to invest 6.3 billion euros in the economy and human resources in 18 months, Swedbank has pointed to excessive red tape as weakness that could slow down the investments, LRT reports.
Airlines given $123 billion in state aid – IATA
While governments are coming to the rescue of embattled airlines, the International Air Transport Association points out that $67 billion of the $123 billion committed so far would have to be repaid
Torstar to be sold, taken private in $52 million deal
Five families that built and grew media conglomerate Torstar Corp. have agreed to hand the newspapers they presided over for roughly 70 years to a Canadian investment firm that plans to take the company private.
25,937 confirmed coronavirus cases in South Africa as deaths rise to 552
Health minister Dr Zweli Mkhize has announced that there are now 25,937 confirmed cases of coronavirus in South Africa.
You can now apply for government’s relief fund for May – but don’t make these mistakes
The Department of Employment and Labour says the Unemployment Insurance Fund (UIF) has to date paid in excess of R15 billion to beneficiaries – marking a historic first in terms of a lump sum paid out by the fund within five weeks.
Digital strategies key for retail to survive a shifting consumer landscape
The world is in unchartered territory and as many businesses face the harsh reality of lockdown, we are beginning to accept that jobs will be lost, orders will be cancelled, and many doors will not be reopened.
Business rescue practitioners shut down SAA’s plans to fly again
South African Airways’ business rescue practitioners (BRPs) say that the airline’s announcement that it plans to resume domestic flights under lockdown level 3 was “unvetted”.
Woolworths targets online as shoppers take to food delivery service
Retailer Woolworths says that the Covid-19 pandemic, and resulting lockdown continues to have a pronounced impact on the group.
Billionaire Johann Rupert scores R54 million payday
South African billionaire Johann Rupert took home a R54 million payday in 2020, for his role as chairman at Swiss luxury goods company, Richemont.
SAA administrators see reasonable chance of rescuing the airline
The administrators of South Africa’s bankrupt state-owned airline said they see a “reasonable prospect of rescuing” it.
Winding down of Saldanha Steel plant to be complete by end of June
Despite numerous efforts to save the steel plant, ArcelorMittal South Africa CEO Kobus Verster said that reopening the facility in the medium term was highly unlikey.
Rand falls as Sino-US friction dents risk appetite
At 0645 GMT, the rand traded at 17.4900 per US dollar, 0.45% weaker than its previous close.
ANALYSIS: How a post-COVID-19 revival could kickstart Africa’s free trade area
Africa is more vulnerable to the impact of COVID-19 because it is highly dependent on imports for its medicinal and pharmaceutical products and on commodity exports.
SAA can still be saved with funding - administrators
SAA has been fighting for its survival since entering business rescue - a local form of bankruptcy protection - in December, after almost a decade of financial losses.
FFC urges govt to reconsider its fiscal consolidation stance
Finance Minister Tito Mboweni had so far held the line on fiscal consolidation – a policy aimed at reducing the budget deficit and government’s soaring debt-service costs.
Cabinet approves appointment of Sithole as PIC CEO
Sithole is currently the principal executive officer of the Government Employees Pension Fund and the commissioner of the Financial Sector Conduct Authority.
SA Reserve Bank says lenders can handle coronavirus crisis
The country’s banks, some of the largest on the continent including Standard Bank and FirstRand, have seen profit growth slip in recent years, while risks from lending to the increasingly strained government and the economy have increased.
Iata appeals for govt financial relief as COVID-19 takes toll on aviation sector
Since government implemented the nationwide lockdown, no airline has been allowed to fly locally or internationally.
Hairdressers head to court today over level 3 restrictions
With level 3 regulations set to come into effect next week, those in the hair and beauty industry are still not being allowed to fully operate.
BRPs stop SAA flights before they even take off
In a statement on Tuesday, SAA said it would resume operations between Johannesburg and Cape Town from mid-June.
UIF compliance no longer a requirement for COVID-19 financial aid
Previously only workers who were registered and declared on the system by their employers could qualify for the benefit.
ANALYSIS: Vegan boom is heading for a meat-fuelled bust
Vegan companies were struggling with increasing costs even before the coronavirus pandemic.
Rand falls as Sino-US friction dents risk appetite
The rand fell on Wednesday following global weakness in emerging market currencies due to increasing Sino-US friction over China’s proposed security law for Hong Kong, retreating the two-month high seen a day before.
Eskom sees lower risk of power cuts during winter
Eskom expects only 3 days of stage one power cuts, where up to 1,000 megawatts is taken off the national grid, during the winter period when demand increases, the chief executive officer said on Wednesday.
DA demands details on UIF’s COVID-19 relief payments
The party’s Michael Cardo said the UIF was failing to pay through the employee relief scheme and its website was constantly offline.
Torstar to be sold, taken private in $52-million deal
Five families that built and grew media conglomerate Torstar Corp. have agreed to hand the newspapers they presided over for roughly 70 years to a Canadian investment firm that plans to take the company private.
Toronto Star owner Torstar to be sold, taken private in $52- million deal
Five families that built and grew media conglomerate Torstar Corp. have agreed to hand the newspapers they presided over for roughly 70 years to a Canadian investment firm that plans to take the company private.
Vadodara civic body announces 10% property tax rebate to tide over crisis
Deputy Municipal Commissioner SK Patel said the move is to benefit both the VMC and the citizens. "We are planning to make use of social media and newspapers to ensure that the message about the rebate reaches the people. Property tax is one of our biggest incomes," he said.
New survey says 82% of festival goers are comfortable returning to music events
More than 110,000 people were surveyed
MLAs slam KHADC move to levy transit fee
SHILLONG: Four Congress MLAs - HM Shangpliang, PT Sawkmie, George Lyngdoh and Kimfa Marbaniang - have shot off a letter to the chief minister lamenting the decision of the Khasi Hills Autonomous District Council (KHADC) to levy a transit fee of Rs 45
COVID-19 likely to deepen salary crisis in GHADC
TURA: With the ongoing Covid-19 pandemic crisis in the state, agony of the employees of the Garo Hills Autonomous District Council (GHADC) who are yet to be paid their pending dues for over 24 months, is likely to get compounded as there is no certa
Serie A asks broadcasters to make final payment for this season
MILAN, May 27 ― Italy's top flight football league Serie A said yesterday that broadcast rights holders must pay the final instalment for the current season, which has been halted due to the coronavirus outbreak. Serie A was suspended on March 9 and the Italian government will decide tomorrow...
Japan's new budget to include US$302b in direct spending, reports Mainichi
TOKYO, May 27 — Japan's government plans to include US$302 billion (RM1.32 trillion) in direct spending under a second extra budget to be compiled today, to cushion the economic blow from the coronavirus pandemic, the Mainichi newspaper reported. The 32.5 trillion yen (RM1.32 trillion) in...
Asian stocks pull back as Hong Kong uncertainty weighs
NEW YORK, May 27 — Asian shares shed some of their recent gains today as investor concerns about rising tensions between the United States and China tempered optimism about a re-opening of the world economy. US President Donald Trump said late yesterday he is preparing to take action against...
Russia consumer demand drops, jobless jump in April lockdown
MOSCOW, May 27 — Retail sales in Russia fell more than expected in April, while unemployment jumped above forecasts during a dire first full month of coronavirus lockdown for the country, data from statistics service Rosstat showed yesterday. Russia's economic health is in focus after a slump in...
Big job losses in South Africa – Here are the sectors which are the worst affected
The CCMA recently opened its doors and immediately experienced a big influx of people who lost their jobs.
The little electric cars used for ecommerce deliveries in South Africa
Tiny electric vehicles used by South African ecommerce companies to facilitate deliveries are in high demand.
Walmart is now selling used goods from Nike, Coach, Michael Kors and more as it dives into the $32 billion resale market
Walmart will for the first time sell used clothing, accessories, and shoes on its website through a partnership with the resale site ThredUp.
'Fight for every job': University union on war footing
A day after Scott Morrison urged all sides to 'lay down their weapons', the university staff union have threatened widespread industrial action.
Morrison is chasing votes at the expense of exports
We are a proud middle power. But it does us no good to bash our Chinese customer for political advantage.
ByteDance Hit $3 Billion in Net Profit Last Year
TikTok’s parent ByteDance Ltd. generated more than $3 billion of net profit on over $17 billion in revenue last year, figures that show the world’s most valuable startup is still growing at a brisk rate, according to people familiar with the matter.
A Tech Billionaire May Find Use in a Cold War
Mukesh Ambani may have found the perfect time to pitch Jio to American investors, as U.S.-China tensions rise.
Passenger on Delhi-Ludhiana Air India flight tests positive for coronavirus, 40 others quarantined
A passenger on a Delhi-Ludhiana Air India flight on Tuesday tested positive for coronavirus. Air India has said 36 passengers and 4 crew members have been quarantined in Punjab.
Coronavirus update: Germany virus reproduction rate drops further to 0.70
According to the latest data from the German disease and epidemic control center, Robert Koch Institute (RKI), the number of confirmed coronavirus cas
EUR/USD range play continues ahead of Lagarde speech, EU summit
While EUR/USD registered gains on Tuesday, the ascent stopped just short of 1.10, keeping the multi-week trading range of 1.1019-1.0727 intact. At pre
EUR/USD: Extra gains expected above 1.1020 – UOB
FX Strategists at UOB Group noted the outlook on EUR/USD remains tilted to the positive side for the time being. Key Quote 24-hour view: “The sudden s
GBP/USD: Off two-week top under 1.2400 amid US dollar pullback
GBP/USD steps back from two-week top to 1.2320, down 0.11% on a day, while heading into the London open on Wednesday.
Reopening optimism fuels stock market surge
Stocks soared Tuesday as enthusiasm builds about the reopening of the country and the development of a coronavirus vaccine.
‘Call taxis ready to install fiber glass partition and ply’
The association said about 25,000 drivers have been struggling to make ends meet owing to the lockdown.
‘I have a lot of confidence in the long-term growth of the Indian car market’: Skoda Auto’s Zac Hollis
Skoda Auto India’s ‘India 2.0 project’ remains on track, investments won’t change, said Skoda Auto India’s Brand Director
Industrial land ready in Maharashtra for business operations: Subash Desai
The Maharashtra government has kept ready 40,000 acres of industrial land along with all amenities, including road connectivity, for companies to come in and start their business operations, State In
Management One Taps Michael Alic for President Role
Alic formerly served in various leadership roles, and is known for managing MAGIC and Coterie.
Informa Teams With NuOrder to Digitalize Trade Show Experience
The trade show operator and e-commerce platform will work to bring brands and retailers together.
Walmart Goes Full-Throttle on Resale With ThredUp
As part of an ongoing mission for fashion dominance, Walmart enters resale.
Shares in Latin America's biggest airline drop 35% after bankruptcy filing
SANTIAGO: Shares in Latin America's largest airline plunged 35 per cent on the Santiago stock exchange on Tuesday (May 26) after LATAM filed for ...
First Majestic Silver Is A Great Bet On Higher Silver Prices
If silver prices rise, First Majestic is well-positioned among major silver producers to see strong share performance. First Majestic has been improving operati
China Online Education Group (COE) CEO Jack Jiajia Huang on Q1 2020 Results - Earnings Call Transcript
Start Time: 08:00 End Time: 08:55 China Online Education Group (NYSE:COE) Q1 2020 Earnings Conference Call May 26, 2020, 08:00 AM ET Company Participants Jack J
City projects under budget
Over the last 20 or so months, the City of Kamloops has worked millions of dollars worth of projects, the majority of which came in below budget.
Save On ends pandemic pay
The union representing workers at Save-On-Foods is asking the chain to extend the pandemic premium for employees.
7 Big Little Lies Of The Modi Government’s Coronavirus Economic Relief
HuffPost India spoke to experts and read the fine print to find the Modi government has failed to put its money where its mouth is.
Players call MLB's economic proposal ' extremely disappointing'
The MLBPA said "the sides also remain far apart on health and safety protocols.”
Today's top business news: Fitch says Indian economy to contract 5% in FY21, stocks rally ahead of F&O expiry, oil refiners ramp up demand, and more
Updates from the world of economy, markets, and finance
Rishi Sunak to 'ban firms from furloughing more staff' as scheme set to wind down
Chancellor Rishi Sunak will reportedly ban firms for furloughing extra staff as the government looks at winding down the scheme. He is also due to announce later this week how much employers will need to contribute to the scheme from August.
Residential building declines as government considers cash grants for new homes
There was already a decline in the home building industry before the coronavirus pandemic began, heaping pressure on the government to stimulate the sector.
The “Future Is Bright” for Qatar’s Fintech Firms that can Survive COVID-19 and Partner with Incumbents, According to Financial Services Professional
The "future is bright" for Qatar's Fintechs that can survive COVID-19 & partner w/ incumbents, according to financial services professional.
Are new car sales about to boom?
According to Robert Gottliebsen, new car sales may be about to boom:
Covid-19: China’s industrial firms profits fall in April but at slower pace
Profits at China’s industrial firms in April fell 4.3% year-on-year to 478.1 billion yuan ($67 billion), after plunging 34.9% in March, the statistics bureau said on Wednesday.
Turkey looks to weather coronavirus crisis without IMF support
Erdogan resists taking assistance despite looming balance of payments crunch
Global energy spending to fall $400bn due to coronavirus crisis
IEA says investments in low-carbon technologies falling far short of climate goals
Riskier European companies draw €32bn from bank credit lines
Matalan, Travelodge and Heathrow airport are among the subinvestment grade companies to tap loan facilities
Coronavirus accelerates shift away from cash
Pandemic encourages more businesses to move to contactless payments
Business will be the loser in the US-China fight
Both nations are indispensable, so companies face a two-track world
Credit risk funds are still relevant, says Mahendra Jajoo, CIO – debt, Mirae Asset
Many investors are having second thoughts about their investments in debt mutual funds. Most advisors are asking investors to stay away from most debt mutual fund categories, expect for overnight and liquid funds.
Kotak Bank jumps 4% on QIP launch; floor price set at Rs 1,147.75 per share
The bank set the floor price of the issue at Rs 1,147.75 per share, which was at just half a per cent discount to Tuesday's closing price of Rs 1,152.45.
Sainsbury's massive sale starts today with clothes for £1
Sainsbury's up to 70% off sale launches across stores today with huge savings to be made
GE Is Saying Goodbye To Its 129-Year-Old Light Bulb Business
schwit1 shares a report from CNN: General Electric is saying goodbye to the light bulb. The conglomerate is shedding a struggling business founded by Thomas Edison more than a century ago. After years of failing to find a buyer, GE announced Wednesday it will sell its 129-year-old lighting division ...
Residential building declines as government considers cash grants for new homes
There was already a decline in the home building industry before the coronavirus pandemic began, heaping pressure on the government to stimulate the sector.
Walmart teams with ThredUP to sell used clothing online
NEW YORK — Walmart is teaming up with online resale site ThredUP.com to offer nearly 750,000 items of used women’s and children’s clothing and accessories items on its website.
Banks move to avert fresh arrears crisis
The initiative is aimed at avoiding a cliff-edge effect at the end of September
Walmart is now selling used goods from Nike, Coach, Michael Kors and more as it dives into the $32 billion resale market
Walmart is diving into the $32 billion resale market through a partnership with the second-hand-sales site ThredUp.
Global energy investment expected to tumble 20% in 2020 due to COVID crisis: IEA
PARIS (Reuters) - Global energy investment is expected to plunge by around 20% or $400 billion in 2020, its biggest fall on record, because of the new coronavirus outbreak, the International Energy Agency (IEA) said on Wednesday.
Players call MLB economic proposal 'extremely disappointing'
A rookie at the major league minimum would make a higher percentage of his salary than multimillionaire stars like Mike Trout or Gerrit Cole under a six-tier, sliding-scale proposal by big league teams that players found “extremely disappointing.” Major League Baseball made the proposal to the players' union on Tuesday…
ATO flags regional office closure
The Australian Taxation Office has begun consultations on plans to shut down its Geelong office.
Finnish study proposes a model to predict cryptocurrency defaults
University of Vaasa researchers propose a model that is capable of explaining 87 percent of cryptocurrency bankruptcies after only one month of trading. It could potentially serve as a screening tool for investors keen to boost overall performance of cryptocurrency investment portfolios by avoiding investing in unreliable cryptocurrencies.
Nissan and Renault unveil steps to cut costs and revamp alliance
Renault SA and Japanese partners Nissan Motor Co. and Mitsubishi Motors Corp. on Wednesday unveiled steps to standardize platforms further and push for mor
Jewellery, textile showrooms seek permission to open
TIRUCHI Faced with heavy losses due to the lockdown, owners of major textile showrooms, jewellers, utensil shops and other big commercial establishments have urged the district authorities to allow th
Man Utd take out bumper £140m loan that could be used to fund transfer spree
United are still hopeful of landing some of their expensive transfer targets despite executive vice-chairman Ed Woodward admitted it would not be "business as usual" for the club this summer
BitGo Launches New Offering Institutional Trading Service Through New Entity BitGo Prime
Digital asset custody provider BitGo announced on Wednesday it is now offering institutional trading services through its new entity, BitGo Prime. BitGo claims
Israeli startup D-ID Raises $13.5 Million as Part of Series A
D-ID, an Israeli tech startup, has raised over $13.5 million in a Series A funding round that reportedly closed last month. The funding was led by AXA Venture P
Digital Asset Derivatives Trading Platform, Delta Exchange, Acquires Strategic Investment from New York’s CoinFund
Delta Exchange, an established cryptocurrency derivatives exchange that maintains offices in Singapore, has received funding from New York-headquartered blockch
Over £27 Billion Provided by CBILS, CLBILS and Bounce Back Loans
Each week, HM Treasury publishes updates on approved lending under three COVID-19 related support schemes. This week HM Treasury said £12.47 billion has been a
The world’s most overweighted and underweighted stocks by active fund managers
Daily roundup of research and analysis from the The Globe and Mail’s market strategist Scott Barlow
Is Airbnb’s slump a golden opportunity for rental?
In a post-pandemic world, will tenants once again find themselves on the firing line, facing eviction or enticements to vacate?
Buyers coming off the sidelines in Toronto housing market
Advice for those thinking about rejoining the fray: ‘Get out as soon as you can’
Bank of Montreal profit sinks as more than $1.1-billion earmarked to cover potential loan losses
Profit for the three months ended April 30 was $689-million, or $1 per share, compared with $1.5-billion, or $2.26 per share, a year earlier
Wednesday’s small-cap stocks to watch
Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Swiss National Bank Acquires 2,400 Shares of BWX Technologies Inc (NYSE:BWXT)
Swiss National Bank lifted its holdings in BWX Technologies Inc (NYSE:BWXT) by 1.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 184,700 shares of the technology company’s stock after purchasing an additional 2,400 shares during the period. Swiss National Bank’s holdings in BWX Technologies were […]
First Allied Advisory Services Inc. Decreases Stock Position in AES Corp (NYSE:AES)
First Allied Advisory Services Inc. lessened its position in AES Corp (NYSE:AES) by 58.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,587 shares of the utilities provider’s stock after selling 22,035 shares during the quarter. First Allied Advisory […]
Cambridge Investment Research Advisors Inc. Raises Stake in CenterPoint Energy, Inc. (NYSE:CNP)
Cambridge Investment Research Advisors Inc. lifted its stake in CenterPoint Energy, Inc. (NYSE:CNP) by 65.3% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 90,480 shares of the utilities provider’s stock after buying an additional 35,740 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in […]
AMN Healthcare Services, Inc. (NYSE:AMN) Shares Acquired by Zurcher Kantonalbank Zurich Cantonalbank
Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of AMN Healthcare Services, Inc. (NYSE:AMN) by 38.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,401 shares of the company’s stock after buying an additional 1,213 shares during the period. Zurcher Kantonalbank Zurich […]
Donaldson Company, Inc. (NYSE:DCI) Shares Purchased by Swiss National Bank
Swiss National Bank increased its position in Donaldson Company, Inc. (NYSE:DCI) by 0.2% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 244,700 shares of the industrial products company’s stock after purchasing an additional 600 shares during the period. Swiss National Bank owned about 0.19% of Donaldson […]
Microsoft Co. (NASDAQ:MSFT) is Providence Wealth Advisors LLC’s 2nd Largest Position
Providence Wealth Advisors LLC lessened its position in shares of Microsoft Co. (NASDAQ:MSFT) by 0.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,915 shares of the software giant’s stock after selling 136 shares during the quarter. Microsoft comprises 4.7% of […]
Aigen Investment Management LP Purchases Shares of 15,169 NCR Co. (NYSE:NCR)
Aigen Investment Management LP purchased a new stake in shares of NCR Co. (NYSE:NCR) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 15,169 shares of the information technology services provider’s stock, valued at approximately $268,000. A number of other institutional investors have also made […]
Swiss National Bank Increases Position in Polaris Industries Inc. (NYSE:PII)
Swiss National Bank lifted its holdings in Polaris Industries Inc. (NYSE:PII) by 23.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 225,549 shares of the company’s stock after purchasing an additional 42,400 shares during the quarter. Swiss National Bank owned about 0.37% […]
ETRADE Capital Management LLC Sells 5,276 Shares of Juniper Networks, Inc. (NYSE:JNPR)
ETRADE Capital Management LLC reduced its stake in shares of Juniper Networks, Inc. (NYSE:JNPR) by 24.5% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 16,284 shares of the network equipment provider’s stock after selling 5,276 shares during the period. ETRADE Capital Management LLC’s holdings […]
ETRADE Capital Management LLC Acquires 12,515 Shares of ON Semiconductor Corp (NASDAQ:ON)
ETRADE Capital Management LLC lifted its position in ON Semiconductor Corp (NASDAQ:ON) by 109.4% in the first quarter, HoldingsChannel.com reports. The firm owned 23,957 shares of the semiconductor company’s stock after acquiring an additional 12,515 shares during the period. ETRADE Capital Management LLC’s holdings in ON Semiconductor were worth $298,000 as of its most recent […]
Swiss National Bank Buys 348,300 Shares of Noble Energy, Inc. (NYSE:NBL)
Swiss National Bank increased its stake in Noble Energy, Inc. (NYSE:NBL) by 23.1% during the first quarter, HoldingsChannel reports. The firm owned 1,856,312 shares of the oil and gas development company’s stock after acquiring an additional 348,300 shares during the period. Swiss National Bank’s holdings in Noble Energy were worth $11,212,000 as of its most […]
Zurcher Kantonalbank Zurich Cantonalbank Purchases 1,434 Shares of Brighthouse Financial Inc (NASDAQ:BHF)
Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Brighthouse Financial Inc (NASDAQ:BHF) by 18.1% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 9,348 shares of the company’s stock after purchasing an additional 1,434 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Brighthouse Financial were worth […]
Papp L Roy & Associates Cuts Stake in Microsoft Co. (NASDAQ:MSFT)
Papp L Roy & Associates lowered its holdings in shares of Microsoft Co. (NASDAQ:MSFT) by 3.0% during the first quarter, Holdings Channel reports. The firm owned 192,115 shares of the software giant’s stock after selling 5,972 shares during the period. Microsoft accounts for about 5.5% of Papp L Roy & Associates’ portfolio, making the stock […]
First Allied Advisory Services Inc. Makes New Investment in Pinterest (NYSE:PINS)
First Allied Advisory Services Inc. purchased a new position in shares of Pinterest (NYSE:PINS) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 15,740 shares of the company’s stock, valued at approximately $243,000. A number of other institutional investors have also recently added to […]
Navient Corp (NASDAQ:NAVI) Shares Sold by Aigen Investment Management LP
Aigen Investment Management LP trimmed its position in Navient Corp (NASDAQ:NAVI) by 57.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 28,722 shares of the credit services provider’s stock after selling 38,583 shares during the quarter. Aigen Investment Management LP’s holdings in Navient […]
M&G buys adviser platform from Royal London
Acquisition of £14bn-in-assets business will help newly listed asset manager push further into retail market
UK tells EU: break the Brexit 'impasse' so we can do trade deal
Britain told the European Union on Wednesday it needed to break a fundamental impasse to clinch a Brexit trade deal by the end of the year and said an agreement on fisheries might not be ready by July. The United Kingdom left the EU on Jan. 31 but the main terms of its membership remain in place during
France promises €8bn to bail out struggling car industry
French carmakers have seen a 90% drop off in sales since the beginning of the coronavirus pandemic.
EU bailout package 'would be a game-changer' for Europe, analyst says
Guntram Wolff has told Euronews that if EU leaders can agree on a one-trillion bailout package for member states it would strengthen the bloc.
Every McDonald's drive-thru in Black Country and Staffordshire to be open next week
The chain said it closed some drive-thru lanes last week after soaring demand impacted local communities or staff and customer safety.
‘Planning continues’ for 2020 T20 World Cup
The event is scheduled to take place in Australia from October 18 to November 15.
Adani Ports & SEZ raises Rs 500 crore through allotment of NCDs
It allotted 5,000 non-convertible debentures (NCDs) of the face value of Rs 10 lakh each.
SBI gives covid relief, extends loan EMI moratorium; starts notifying borrowers via SMS
According to the PSU lender's press release, it has "proactively reached out to all of its eligible loan customers to obtain their consent to stop their Standing Instructions (SIs) / NACH mandate for the EMIs falling due in June, July and August 2020."
Rally in bank stocks purely a function of F&O expiry: Sana Securities
‘It seems to be some kind of herd mentality and that could be one reason for todays move
India, Africa favour new dimensions to multifaceted partnership in post-Covid world order
“We have common interests on international issues; UN reforms, counter terrorism, peace keeping, cyber security and energy security,” Rahul Chhabra, Indias High Commissioner to Kenya and Ambassador to Somalia, said as he highlighted multifarious collaboration between India and Africa in handling challenges thrown by the pandemic
What triggered the 15% rally in bank stocks today?
Nifty Bank, which consists of 10 stocks, saw its best day in about two months.
Amtrak to cut up to 20 percent of workers as coronavirus crushes ridership
Amtrak plans to slash up to 20 percent of its workforce as the coronavirus pandemic devastates its ridership and revenue, reports say.
Bumi Resources Mineral to hold private placement to pay debt
The indebted miner is slated to sell the shares to Singapore-based management consulting firm Wexler Capital Pte.
National airlines need government aid to survive
National airlines will largely depend on domestic flights to grow because international flights are expected to remain severely restricted until a COVID-19 vaccine is available.
Kilkenny-based Entegro creates 50 jobs from broadband contract
Telecoms company will design fibre optic networks for National Broadband Plan
European stocks surge on expectation of EU recovery package
US equity futures advance ahead of opening
The IEA warns global energy investment will fall by $400 billion in 2020, the biggest drop in the sector’s history
Global investment in the energy sector is expected to plunge by almost $400 billion in 2020 compared to last year as the pandemic takes a beating on the energy sector, the International Energy Agency warned on Wednesday.
Jamie Dimon says the US economy looks headed for a ‘fairly rapid recovery’ from the coronavirus pandemic
The US economy could see a swift recovery in the third quarter of the year according to JPMorgan CEO Jamie Dimon.
Airbus just opened its A220 factory in Alabama that was originally intended to help avoid US tariffs on the plane, and JetBlue will be the first customer
Airbus has established yet another foothold in the US with the completion of a new production plant for the Airbus A220 in Mobile, Alabama.
Factbox: Renault and Nissan's plan to rebuild their alliance
TOKYO (Reuters) - The automaking alliance of Renault SA (RENA.PA), Nissan Motor Co (7201.T) and Mitsubishi Motors Corp (7211.T) outlined a new strategy on Wednesday whereby the strongest partner takes the lead in areas such as new technologies and parts procurement.
Motorsport UK aims to get back on track from July 4
LONDON (Reuters) - The governing body for motorsport in Britain aims to resume racing activities without spectators from July 4, it said on Wednesday.
Not a scam: Watch for stimulus debit cards in the mail
The Treasury Department has mailed nearly 4 million economic impact payments to Americans via a prepaid debit card.
Analysts: On-chain Data shows Ethereum is “Undervalued”
Ethereum’s having an envious year. The blockchain for all blockchains is seeing advancements in DeFi, institutional investments, and even government interest. With such massive potential, analysts say the protocol is vastly undervalued – especially if on-chain data is considered.
Amazon and other stay-at-home stocks are starting to stall. They may hold the key to the market, strategist says.
While value and small caps are starting to recover, the stay-at-home stocks are starting to lose steam. One strategist is concerned.
FSMA: Belgians Traded 5 Times More BEL 20 Shares amid COVID-19
According to the Financial Services and Markets Authority (FSMA), a Belgian regulator, investors traded BEL 20 shares up to five times more.
Coinbase Buys Tagomi to Boost Institutional Trading
Coinbase, a leading US-based crypto exchange, has officially announced on Wednesday its acquisition of Tagomi, a crypto prime brokerage platform.
The inescapable truths investors face now
Covid-19 reality: What the combination of higher savings rates and lower capital investment means for global growth.
Can you buy shares in a listed company that wants to delist?
And what happens to those shares if the company does delist?
Pepkor ‘confident’ it will gain market share amid pandemic
As it continues to provide discounted products for babies and children.
Credai seeks RBI intervention in passing on repo rate cut benefits to NBFCs, HFCs
It has maintained that the real estate industry has not been able to leverage the benefits of repo rate cuts as banks have not passed on the same to the borrowers.
Elgi Equipments to shut Chinese subsidiary on poor show
These factors prompted the company to wind up its China subsidiary, the company told the stock exchanges, without divulging further details.
ETF route: Bharat Bond to help CPSEs raise Rs 34,000 crore in FY21
Debt mobilisation via this route might rise to Rs 50,000 crore or higher in FY22
Regal Cinemas Has No Current Plans to Reopen; AMC May Stave Off Bankruptcy
When is Regal Cinemas reopening? The theater chain has not yet announced a date, leaving some wondering if it will be open for Christopher Nolan's Tenet.
Bath & Body Works Is Closing 50 Locations Nationwide, and Malls Just Won't Be the Same
Bath & Body Works announced it will be closing 50 stores across the country, mostly in malls.
62% believe Modi govt either met or exceeded their expectations: Survey
In the survey, 56 per cent of participants were of the view that Modi govt has not been able to address unemployment situation in the country.
WA sends bureaucrat to China on 'Belt and Road' mission after Premier rules out deal with Beijing
The WA government has sent a senior bureaucrat on a mission to China organised by an organisation advising the Victorian government on its Belt and Road Initiative deal with Beijing.
Consider Bank of America Stock a Buy If Markets Retest Lows
Oversold BAC stock could rebound in the short term. But long-term upside in the big bank's shares could be a challenge.
After 83% Rebound, It’s Time to Ditch Chevron Stock
With a sustained dividend minimizing downside, and big upside potential if oil prices rebound, Chevron stock may be a buy at today's prices.
This is why The Zimbabwe Dollar remains our best foot forward
ZW$ remains our best foot forward-At the rate at the Zimbabwe dollar is losing its intrinsic value, it may just be a matter of time
Wall Street rises with economic hopes; bank stocks jump
NEW YORK, May 28 — US stocks rose yesterday, with the S&P 500 closing above 3,000 for the first time since March 5, as the further easing of lockdowns lifted optimism for an economic recovery. Bank stocks powered the day’s advance, with the S&P 500 financial index leading gains among...
Dollar treads water against euro; yuan sinks on US-China tensions
NEW YORK, May 28 — The dollar steadied against the euro yesterday even as the common currency remained supported by news of a proposal for an economic recovery package to help the euro zone region recover from the coronavirus pandemic. The euro was up 0.03 per cent against the dollar at...
Stocks rally on EU stimulus plan, euro gains
NEW YORK, May 28 — The euro and equity markets advanced yesterday as enthusiasm for the European Union’s plans for a €750 billion (RM3.5 trillion) recovery fund offset concerns about unrest in Hong Kong over Beijing’s proposed national security laws. US Treasury yields retreated from gains...
Dow soars 553 points on mounting optimism around a strong economic recovery
US stocks rose on Wednesday as investors were encouraged by signs that global authorities were taking measures to boost economies. The European ...
Maryland lifts more coronavirus restrictions, will allow outdoor dining
Maryland is set to lift additional statewide coronavirus restrictions, and restaurants will be allowed to begin outdoor dining this weekend, Gov. Larry Hogan (R) announced.
Tongaat doubles the price of sugar
Sugar producer, Tongaat Hulett Zimbabwe (THZ) has with immediate effect almost doubled the price of sugar.
Bill Ackman dumps investments in Berkshire Hathaway, Blackstone
The billionaire investor said volatility might create better opportunities to deploy capital on higher-returning investments than Warren Buffett's company.
Hundreds of jobs to go as News Corp confirms restructure
News Corp has confirmed sweeping changes to its Australian newspaper portfolio, with hundreds of jobs to go, and a swath of community and regional titles to move to digital only.
Discounts are widening the audience for private jets
The industry is reeling from a lack of business travellers. That means significant discounts for people who otherwise might not consider private aviation.
Why we want to amend National Art Endowment Act —FG
Alhaji Lai Mohammed has said the Federal Government has concluded plans to amend the Act establishing the National Endowment for the Arts
Filing annual returns: LIRS extends deadline to June 30
Lagos State Internal Revenue Service, LIRS, has extended the deadline for filing of Annual Tax Returns to June 30 due to Coronavirus pandemic
WTI slips below $32.00 after huge API build joined trade/political tension
WTI fails to carry the pullback from $32.00 while taking a U-turn from $32.50 to currently around $32.30 amid the initial Asian session on Thursday. W
USTR office: Strongly disagrees with US Court of International Trade's decision...
Early Thursday morning in Asia, the US Trade Representative's office (USTR) marked its disagreement with the US Court of International Trade's decisio
Analysis: Pennsylvania’s unemployment trust fund faces insolvency as pandemic continues
Pennsylvania’s unemployment trust fund, the mechanism used alongside the federal CARES Act to provide benefits to unemployed residents amid COVID-19, could face insolvency if the number of claimants remains high into the summer.
Exclusive: Venezuela reaches deal with U.N. to buy food, medicine with gold - central bank
By Deisy Buitrago CARACAS (Reuters) - Venezuela has reached a deal with the U.N. Development Programme (UNDP) to destine part of its gold in Bank of England accounts toward the purchase of food and medicine during the coronavirus pandemic, its central bank governor said on Wednesday
Wall St rises with economic hopes; bank stocks jump
By Caroline Valetkevitch (Reuters) - U.S. stocks rose on Wednesday, with the S&P 500 closing above 3,000 for the first time since March 5, as the further easing of lockdowns lifted optimism for an economic recovery
New owners of Torstar face financial, political challenges
TORONTO — With sheer optimism and a considerable amount of uncertainty ahead of them, two Toronto businessmen with strong political ties are betting on returning the languished Torstar Corp.
Surrey to pay TransLink $30M in land, $9M in cash for work on cancelled LRT
Council considered staff report on city’s 2019 annual financial statements during Monday’s “virtual” council meeting
ByteDance has become the world's most valuable startup - Gizchina.com
ByteDance has become the world's most valuable startup. The company is the parent company of the controversial TikTok app
Hershey says mint, gum sales hit as lockdowns restrict social gatherings
Hershey Co said on Wednesday sales of gums and mints have taken a hit as social distancing protocols spurred by the COVID-19 pandemic discouraged ...
Goldman Sachs on target to meet medium,long-term growth goals: executive
Goldman Sachs Group Inc President and Chief Operating Officer John Waldron said Wednesday that the bank remains on track to achieve its medium ...
Nokia veteran Sari Baldauf takes over as 5G battle rages
Sari Baldauf took over as chairwoman of telecoms equipment maker Nokia on Wednesday, succeeding Risto Siilasmaa who chaired the Finnish firm for ...
North American Construction Group: Growth, Value, And Bullish Insiders
ROE is 28% vs. industry median of -1.6%. Revenues up 241% since Q4 2016. EBITDA has a 3-year CAGR of 45% vs. industry median of 7%. P/S is the lowest it's been
The Rally Continues, Now Thanks To Small-Caps (Technically Speaking For 5/27)
The EU and Japan have announced major stimulus programs. While existing home sales have dropped sharply, new home sales are surprisingly resilient. The markets
Fevertree: Compounder For The Long-Term Investor
Fevertree shows outstanding performance compared to its close peers. An outsourced business model leads to high profit margins and returns on capital, and has a
Communications Systems: Needs Sustained Bottom-Line Growth To Move The Share Price
Firm posts negative earnings in the first quarter. Once again this showed that the company is absent any real competitive advantage. No need to push the boundar
Genesis Energy LP: Too Risky For The Current Environment
Even though it shows some rebound after March lows, Genesis Energy LP remains a risky buy in the current environment. The stock shows high volatility and a high
A Selection Of Appealing Nanocaps
We discuss a selection of nanocap companies with operational and valuation attributes which make them appealing to certain types of investors. Three community b
Buy Gladstone Capital For Its 11%+ Yield
GLAD has rebounded strongly off its lows but remains well below its prior highs. With the distribution having been cut already, the new payout looks safe. With
ICAI aims for transparency in Covid-era accounting
India Business News: Will the company be able to continue its operations? Or to paraphrase in accounting terminology — will it be a going concern? In the pre-pandemic era,
Your friend in distress could be an e-fraudster
India Business News: Although economic activity has come to a near standstill due to the lockdown, there is no let-up in online crime. Fraudsters have managed to steal fro
Revenue loss and labour top worries
India Business News: MUMBAI: A week after markets regulator Sebi asked companies to disclose in detail their estimated and expected losses due to the Covid-19 pandemic, di.
Blanket ban on recovery impractical, say bankers
India Business News: Despite the government announcement of Covid-related delinquencies not being treated as a default, it would be impractical to provide a blanket protec
SBI reduces FD rates by 40bps, RBI stops sale of 7.75% bond
India Business News: State Bank of India (SBI) has reduced interest rate on its term deposits of most maturities by 40 basis points (100bps = 1 percentage point). Followin
China to loosen flight restrictions
China will loosen a cap on flights into the country that was imposed to block coronavirus infections from abroad, authorities said Wednesday, after fierce criticism from citizens stranded abroad. ...
Dundee retailer fully opens to the public for the first time in two months with extensive social distancing measures
A limited number of customers, queue marshals, cleaning stations and warnings not to handle products.
Vic Education IT manager misused position, directed $14m to own company
Corruption watchdog finds.
Gold slips below $1700 mark, over 2-week low
Gold dropped to fresh two-week lows in the last hour, with bears now looking to extend the downward trajectory further below the $1700 mark. A combina
UK's Frost: EU needs to evolve its position to reach an agreement
The EU's mandate in key areas is not likely to produce an agreement, the UK's chief Brexit negotiator David Frost told reporters on Wednesday. Key quo
Singapore risks deflationary pressure – UOB
Economist at UOB Group Barnabas Gan reviewed the latest inflation figures in Singapore. Key Quotes “Singapore’s inflation environment has eased furthe
UK's Frost: EU has a lot on its plate right now
The European Union has a lot on its plate right now and it's important they keep enough focus on Brexit negotiations and do not relegate them, the UK'
GBP/USD refreshes session lows, retreats nearly 100 pips from daily swing high
The GBP/USD pair retreated nearly 100 pips from the daily swing high and refreshed session lows, around mid-1.2100s in the last hour. The emergence of
Stock markets in retreat as China-US tensions return to fore
Asian equities mostly fell Wednesday as profit-taking and worries about deteriorating China-US relations outweighed optimism over the gradual reopening of economies around the world.
Corona Relief For Hospitality Industry: Validity Of Approval, Classification Of Hotels Extended Until June-End
This breather, however, comes with certain riders such as approvals expiring during the lockdown period, among others
'We Can’t Take For Granted That Sport Will Exist At The End Of This'
CEO of the Federation of Irish Sport Mary O'Connor has warned that we can't take for granted that sport will return once restrictions are lifted.
The IEA warns global energy investment will fall by $400 billion in 2020, the biggest drop in the sector's history, Business Insider - Business Insider Singapore
Business Insider - Before the crisis, the IEA was expecting global energy investment to increase by 2% now it expects a decline of 20% compared to last year.. Read more at businessinsider.sg
Jamie Dimon says the US economy looks headed for a 'fairly rapid recovery' from the coronavirus pandemic, Business Insider - Business Insider Singapore
Business Insider - "The government has been pretty responsive, large companies have the wherewithal, hopefully we're keeping the small ones alive," said Dimon.. Read more at businessinsider.sg
Airbus just opened its A220 factory in Alabama that was originally intended to help avoid US tariffs on the plane, and JetBlue will be the first customer, Business Insider - Business Insider Singapore
Business Insider - The plant, initially intended to help Airbus and Bombardier avoid a near-300% tariff on the controversial jet, will now build A220s for US airlines.. Read more at businessinsider.sg
Two-thirds of businessmen say cyber crime could occur more during Covid-19 than before: Survey
The CrowdStrike Work Security Index has said that there was a 100x increase in Covid-19 themed malicious files between February and March.A total of 4,048 senior decision-makers in India, Australia, F
RIL launches WhatsApp chatbot to answer rights issue queries
Reliance Industries Ltd (RIL), a company controlled by Asia’s richest man Mukesh Ambani, has launched a chatbot to provide answers to shareholders on its ₹53,125-crore rights issue.The chatbot, the fi
While Asian countries reel from Covid-19 economic fallout, Chinese investors buy luxury property from ‘Singapore to Sydney’
While Asian countries reel from Covid-19 economic fallout, Chinese investors buy luxury property from ‘Singapore to Sydney’
Funding Cut For Kaikoura Council’s Survival Project
The government has turned off the funding tap for Kaikoura District Council's financial sustainability project.
Whangarei Finance Company In $945K Settlement With Commission
Current and former borrowers of Whangarei-based finance company Profile Finance Limited will receive $945,334 in credits and refunds after Profile Finance signed a settlement agreement with the Commerce Commission.
Exclusive: Volkswagen in final talks to seal biggest M&A deals in China EV sector - sources
Volkswagen AG is in final talks to seal its largest investment deals with Chinese electric vehicle (EV) firms, two sources said, as the German ...
Volkswagen in final talks to seal biggest M&A deals in China EV sector: Sources
Volkswagen AG is in final talks to seal its largest investment deals with Chinese electric vehicle (EV) firms, two sources said, as the German ...
Tesla cuts prices by as much as 6per cent in North America to boost demand
BEIJING: Tesla Inc has cut prices of its electric vehicles by as much as 6per cent in North America following a decline in auto demand in the ...
Enterprise Products Partners - A +9% Yield From A Best In Breed Midstream
Enterprise Products Partners has a massive amount of liquidity, enough to cover 2 years of the company’s distributions. The company is focused on reducing capit
AT&T: Do Not Let The Yield Fool You
While the dividend yield is tempting, be cautious and do not let it fool you. Huge debt load means shareholder returns are limited. I give T a true value of $40
Dunkin' Brands: Strong Brand At A Decent Price
Dunkin' has a strong brand that has allowed the company to grow steadily in the past. There will be uncertainty regarding customer consumption behaviour due to
Ferrari Isn't What It Was
RACE is facing unprecedented issues in its engines and F1 revenue streams. Margins have plateaued with downside catalysts aplenty, but no meaningful upside cata
SIVR Weekly: Up 50% From Its March Low And More Upside To Expect
SIVR has jumped by roughly 50% since its March low, in line with our expectations. Silver’s spec sentiment is shifting positively. But given that spec positioni
LivePerson Stock Is Ready To Go 'Live'
LivePerson has been undervalued due to lower-than-expected growth and lack of profitability. It is beginning to turn the ship around and become profitable and h
Overseas travel inches closer to an arrival date
Australia's international travel ban could be lifted within weeks, with a draft plan for the proposed trans-Tasman bubble just days away from consideration.
Mexican workers in US are sending record money home despite coronavirus-related economic shutdowns
The migrant laborers who staff American meat plants, construction sites and delivery services are working through the pandemic – and sending more funds back home than ever.
Airbus just opened its A220 factory in Alabama that was originally intended to help avoid US tariffs on the plane, and JetBlue will be the first customer
The plant, initially intended to help Airbus and Bombardier avoid a near-300% tariff on the controversial jet, will now build A220s for US airlines.
‘Planning continues’ for 2020 T20 World Cup
The event is scheduled to take place in Australia from October 18 to November 15.
Postmedia to lay off 40
Postmedia Network Canada Corp. says it will lay off about 40 employees after a number of its unions did not approve a temporary salary reduction to help reduce costs amid the COVID-19 pandemic.
Boeing Cutting More Than 12,000 US Jobs With Thousands More Planned
Boeing said Wednesday it was eliminating more than 12,000 U.S. jobs, including laying off 6,770 U.S. workers as the largest American planemaker restructures in the face of the coronavirus pandemic. From a report: Boeing also disclosed it plans "several thousand remaining layoffs" in the next few mon...
McDonald's, Primark, IKEA and Poundland among major chains making announcements ahead of June 15
Including McDonald's Drive Thru branches and Primark stores
Bengaluru's civic woes may worsen as projects held up due to fund, labour crunch
The city’s civic body has said it was looking to complete projects where work has begun and may not be able to start new ones listed in its ₹10,895.84 crore budget for this year
Australian LNG Exports to Chinese Market at Crossroads as Trade Tensions Intensify
A healthy bilateral relationship will be important to Australian liquefied natural gas (LNG) exports to China, which will be the only meaningful market in the coming...
John Lewis unveils plans to reopen department stores from June 15
It is part of a phased reopening - but some stores are expected to remain shut.
When are department stores reopening and will you be able to try on clothes?
Retailers are poised to open their doors again.
Coronavirus Lockdown XVII: The economics behind India's Rs 21 lakh crore package
The package is completely aligned to self-professed agenda of the IMF of limiting fiscal spending, relying on liquidity and credit to households, privatising government-run companies and more deregulations for private enterprises. This agenda has brought immense grief to a large number of countries to be comforting
Despite rate cuts, your EMIs may still not fall as much
Banks have in-built mechanism to include the cost of default in the interest rate that it charges from the borrowers as way of credit risk premium, which can be increased or decreased by the bank
Rising global crude price raises India's basket 93% to $33
The price of Indian basket, which went down to $16.92 a barrel on April 27, surged by 93 per cent since then to $32.63
Shashank Manohar declines extension, BCCI says an Indian could contest for ICC chairman post - Cricket news
Shashank Manohar has declared he will not seek another term as the chairman of the International Cricket Council (ICC) and also declined an offer of an extension.
Shaw launches ‘Fibre+ Gig’ internet plan for residential customers in Western Canada
Shaw Communications has launched ‘Fibre+ Gig’ for residential internet customers in Western Canada, which offers customers gigabit download speeds.
A.O. Smith partners with FoxyMoron to enhance digital presence
The agency will be responsible for building the brand's social presence and increasing market penetration and consumer engagement
Coronavirus aftermath: Airlines to reel under massive debts; will weigh down recovery
With airlines across the globe remaining shut in the wake of coronavirus lockdown, the debt mount up will weigh heavily on carriers and may even hamper recovery.
Locust attack may benefit these stocks as agrochemicals usage shoots up; check target prices
Large swarms of locusts were seen across the states of Rajasthan, Madhya Pradesh, and parts of Maharashtra in the past few days, prompting fear of how bad the agriculture could be hit by such pest attacks.
Bankruptcy resolution: In IBC, liquidation an overwhelming outcome rather than revival
Of the total 3,774 cases admitted into CIRPs till the end of March 2020, 914 ended into liquidation, which is 24% of the total cases admitted.
JP Morgan's Kalpana Morparia set to retire; Leo Puri to take over the reins
Takes charge in the first quarter of Calendar 2021; Murali Maiya to be new CEO
Sebi unlikely to give result disclosure waiver to India Inc for Q1FY21
CII, FICCI have asked for exemption from disclosing June quarter results; Sebi says yet to take view
Japan approves fresh $1.1 trn stimulus to combat Covid-19 economic fallout
The latest package includes 33 trillion yen in direct spending, the Ministry of Finance (MOF) said.
Sun Pharma Q4 profit declines 37% to Rs 399 cr on one-time exceptional loss
The company had posted a net profit of Rs 635.88 crore in the same period previous fiscal, Sun Pharma said in a BSE filing
Donations by companies to PM-CARES Fund notified as CSR, says govt
Finance Minister Nirmala Sitharaman had tweeted on March 29 that CSR Funds can now donate to PM CARES Fund
Banks would need additional capital buffer of $20 bn, says Credit Suisse
Slippage of 20% on loans under moratorium to weigh on capital ratios
Government issues fresh rules for inter-State travel
14-day quarantine mandatory for all travellers including Defence, Railway, ISRO and medical professionals In Mysuru, six hotels with 266 rooms reserved for facility quarantine; free accommodation at Morarji School Bengaluru/Mysuru: The Karnataka Government has tightened restrictions to those who are coming from high-risk States. At the same time, it has decided to allow commercial activities...
European Stimulus Plan Gives Markets More Momentum
Rising tensions with China did not dull the effects of a new fiscal stimulus proposal in Europe on markets, which
Thai parliament urged to pass record $60-billion virus stimulus bill
'To get the country back on track...we urgently need the budget of 1.9 trillion baht,' says Thai Prime Minister Prayut Chan-o-cha
China to loosen flight restrictions after outcry from stranded citizens
Starting June 2020, the number of permitted flights in China will nearly triple to 407 per week
Air France to cut 40% of domestic flights after bailout
Air France pledges to halve its carbon emissions from domestic flights by 2024 as part of the conditions for receiving state aid
COVID-19 rent aid for businesses, landlords to cost $520 million, PBO says
Parliament's spending watchdog estimates a federal program aimed at giving small businesses a break on their rent could cost the public purse $520 million this fiscal year.
The Chinese Communist Party puts on a brave face
The National People’s Congress (NPC) of China meets every year at the end of March. The NPC is the highest legislative and representative body of China and it has the power to make and implement
Dubai government offices to resume work with 100 per cent employees from June 14
From Sunday, May 31, government offices will start work with 50% staff
Renault and Nissan rule out merger as they unveil survival plan
Companies to cooperate more closely on car production to save costs
Air France to cut 40% of domestic flights after bailout
French government has made any bailout contingent on profitability improvements
2 Reasons Target Will Be a Post-Coronavirus Winner
Target’s earnings suffered in the past quarter, but two points in the report are reasons to smile.
Another economic crisis and the cupboard appears bare
We need a new accord with government, unions and industry around a new set of reforms to build a sustainable recovery.
It’s Time to Sell Wildly Unprofitable United Airlines Stock
Warren Buffett didn't sell UAL stock just because he is scared. United Airlines faces a long road to recovery, and it isn't worth a buy here.
Aurora Stock Is a Contentious Contrarian Cannabis Play
Brace yourself, because there will continue to be outsized daily price moves in Aurora stock. But there's potential for long-term gains.
Quick Profits from the Push out of Tech
We have a chance to open a new position in one of our favorite stocks: Microsoft (NASDAQ:MSFT).
Expect Canopy Growth Stock to Pass Its Big Earnings Test
CGC stock has rallied from March lows along with other cannabis stocks. As the sector shows signs of life, Canopy earnings need to be solid.
Big Hit Entertainment prepares to go public this year
Big Hit Entertainment's new headquartersBig Hit Entertainment is allegedly submitted a pre-initial public offering consultation to Korea Exchange on M…
EU plans a record-breaking $826 billion stimulus package to soothe Europe's economic pain from the coronavirus
The European Commission on Wednesday proposed a €750 billion (about $826 billion) stimulus package to help the European Union recover from ...
Rare penny struck in Northern Ireland breaks auction records
The 17th century coin from Carrickfergus sold for £6,200.
Tesla (NASDAQ: TSLA) Shares Have a Further Upside Bullish Potential of 64 Percent to $1,350, According to Wedbush Securities
Tesla has received another bullish endorsement with the Wedbush Securities analyst Dan Ives raising the company's stock price target by 33%
EML Payments leads the insider selling
Insider selling at a tech darling and two miners might give mere mortal shareholders some food for thought this week.
World’s top companies, including Apple, borrowed $1 trillion in just five months
Borrowing a trillion dollars has rarely been cheaper for the world's biggest companies, and the likes of Oracle, Apple, and Boeing are taking advantage.
Bitcoin’s Move Past $9,000 Leaves Wake of Destruction; Liquidates $20m in Shorts
Bitcoin saw a sharp overnight rise that came about after a prolonged period of rangebound trading at its key support level of $8,800.
India may need to pump Rs 1.5 L crores into coronavirus-hit state banks
India may need to inject up to Rs. 1.5 lakh crore ($19.81 billion) into its state-owned lenders as their pile of soured assets is expected to double during the coronavirus pandemic, three government
India may need to pump $20 bln into coronavirus-hit state banks: Sources
India may need to inject up to 1.5 trillion rupees ($19.81 billion) into its state-owned lenders as their pile of soured assets is expected to double during the coronavirus pandemic, three government
India may need to pump Rs 1.5 lakh crore into coronavirus-hit state banks
India may need to inject up to Rs 1.5 lakh crore ($19.81 billion) into its state-owned lenders as their pile of soured assets is expected to double during the coronavirus pandemic, three government
Why Many Cloud Computing Stocks Crashed Today
The stocks behind popular cloud-based business services such as Okta, Datadog, and Twilio fell sharply on Wednesday.
5 Top Stock Trades for Thursday: TWTR, ZM, TSCO, COST, JWN
Costco Wholesale, Twitter, Nordstrom, Tractor Supply and Zoom Video were our top stock trades on Wednesday. So, let's look at the charts.
HP Earnings: HPQ Stock Falls 4% on Weak Q3 Guidance
HP (HPQ) earnings for the tech company's fiscal second quarter of 2020 have HPQ stock falling after-hours Wednesday despite an EPS beat.
Dow Up More Than 500 Points on Economic Confidence
Shares of retailers like Macy's, Kohl's, and the Gap rose sharply as investors cheered evidence that the economy is recovering. | Economy
Coronavirus tourism lockdowns hit Hawaii’s vacation rental industry hard in April | Honolulu Star-Advertiser
Vacation rental accommodations, even the legal ones, were economically decimated in April amid COVID-19 fears and tourism lockdowns.
Fed: Sharp economic decline in May leaves businesses 'pessimistic' about recovery
Economic activity “sharply” declined across the U.S.
Investors pile into stocks that win in a full economic recovery
Signs are multiplying in the stock market that investors see the recovery from the coronavirus taking hold.
SAA business rescue practitioners get leave to appeal lay-offs
'If there is no funding, we believe that the best option is a structured wind down, which is a better option than liquidation,' the BRPs said.
Lagos BRT operators to roll out more buses – Transport Commissioner
Dr Frederic Oladeinde, Lagos State Commissioner for Transportation, says more Bus Rapid Transit (BRT) will soon be rolled out to address
LASG to deliver Agege flyover September, gives assurance on 4th Mainland Bridge
The Lagos State Government on Wednesday promised to deliver the Agege flyover bridge in September to tackle gridlock on the axis.
Forex Today: sentiment tosses and turns
What you need to know on Thursday, May 28th: Speculative interest remained sensible to sentiment-related headlines, trading in consequence. The main r
Huawei disappointed by a Canadian court ruling against CFO meng Wanzhou’s bid to avoid extradition
Following a Canadian court ruling that the case of senior Huawei executive Meng Wanzhou, who is fighting extradition to the United States, can go forw
Money laundering case: DHFL promoters Wadhawans sent to jail
Kapoor is currently in the ED's custody. The Wadhawans are also being probed by the CBI in connection withthe same case.
Lime says Calgarians use their scooters more than anywhere else in the world
After arriving in the downtown core last weekend for the second year, with each being used an average of seven times a day – which is more than triple the global average and double the next closest city.
BlackRock votes to split CEO, chairman roles at Exxon Mobil
HOUSTON (Reuters) - Top fund manager BlackRock Inc on Wednesday said it cast an advisory vote in favor of an independent chairman at Exxon Mobil Corp and cast votes against the reelection of two directors over the company's approach to climate risks.
Bihar Paid Rs 1 Crore To Bring Back Stranded Students From Kota: Sushil Modi
Bihar Deputy Chief Minister Sushil Kumar Modi on Wednesday said that the state government had paid Rs 1 crore for arranging 17 trains for the return of students belonging to state who were stranded in Kota.
Dow soars 553 points on mounting optimism around a strong economic recovery, Business Insider - Business Insider Singapore
Business Insider - Stocks got a boost in midday trading when chipmaker Micron issued a quarterly sales forecast that beat estimates.. Read more at businessinsider.sg
A car-rental company previously owned by Hertz just filed for bankruptcy for the third time since 2008, Business Insider - Business Insider Singapore
Business Insider - The intertwined stories of Hertz and Advantage reveal how dozens of financial and strategic blunders sank both firms into massive debt.. Read more at businessinsider.sg
Unemployment will be higher in the US than in other advanced economies through 2021, Goldman says, Business Insider - Business Insider Singapore
Business Insider - A lack of stricter job-preservation policies and expanded unemployment benefits will prolong the US's labor-market recovery, Goldman economists said.. Read more at businessinsider.sg
Economists expect another 2.1 million Americans filed for unemployment insurance last week, Business Insider - Business Insider Singapore
Business Insider - The falling rate of weekly claims suggest the US is "well beyond the peak of inflows into unemployment," said Deutsche Bank economist Justin Weidner.. Read more at businessinsider.sg
Singapore warns of worst economic contraction since independence
Singapore warns of worst economic contraction since independence
CMHC sees declines in home prices, sales, starts that will linger to end of 2022
CMHC said average housing prices could fall anywhere from nine to 18 per cent in its forecast
Wall Street set for higher open as recovery hopes outweigh Sino-UStensions
Wall Street's major indexes were set for another session of gains on Wednesday as a revival in business activity drove hopes of an economic ...
Online sales surge helps Ralph Lauren recover in China
Ralph Lauren Corp reported a 15.4per cent fall in quarterly revenue on Wednesday after its outlets and department stores across the world were ...
Trump threatens to regulate or shut down social media companies
WASHINGTON: United States President Donald Trump on Wednesday (May 27) threatened to regulate or shut down social media companies, one day after ...
Renault and Nissan rule out merger as they unveil survival plan
Renault , Nissan Motor Co and Mitsubishi Motors Corp ruled out a merger on Wednesday and doubled down on a plan to cooperate more closely on car ...
Tech selloff weighs on S&P 500, Nasdaq
Wall Street's major indexes were set for another session of gains on Wednesday as a revival in business activity drove hopes of an economic ...
Wall Street gains amid economic hopes; tech shares decline
The S&P 500 edged higher in choppy trading on Wednesday as optimism over a pick up in business activity helped offset worries over simmering ...
S&P 500 rises on boost from bank shares
The S&P 500 edged higher in choppy trading on Wednesday as optimism over a pick up in business activity helped offset worries over simmering ...
Motorsport UK aims to get back on track from July 4
LONDON: The governing body for motorsport in Britain aims to resume racing activities without spectators from July 4, it said on Wednesday. ...
Wall Street gains with economic hopes; bank stocks jump
The S&P 500 edged higher in choppy trading on Wednesday as optimism over a pick up in business activity helped offset worries over simmering ...
Zillow: The Stock Is A Zell
Zillow has built a tremendous following for its residential real estate website. But the business has only just moved into the black and has limited further ups
Apple Looking For Growth Return
Analysts see green again in December 2020 quarter. October iPhone launch may change the narrative. Another trade war could pressure shares.
Target - On Target, Fairly Valued
Target is enjoying real momentum in sales, driven by digital and essential categories. The store base and specific headwinds in certain categories, including th
Walgreens Boots Alliance: The Case For Buying In At Near 5-Year Lows
Walgreens Boots Alliance is the largest retail pharmacy, health and daily living destination across the United States and Europe, employing 440k staff globally
Dorian LPG Ltd. (LPG) CEO John Hadjipateras on Q4 2020 Results - Earnings Call Transcript
Dorian LPG Ltd. (NYSE:LPG) Q4 2020 Earnings Conference Call May 27, 2020 10:00 AM ET Company Participants Ted Young - Chief Financial Officer John Hadjipateras
HEICO Corporation (HEI) CEO Laurans Mendelson on Q2 2020 Results - Earnings Call Transcript
HEICO Corporation (NYSE:HEI) Q2 2020 Earnings Conference Call May 27, 2020 9:00 AM ET Company Participants Laurans Mendelson - Chairman & Chief Executive Of
Nikola Motor: Investing In The Truck Of The Future
Nikola Motor will compete with the biggest names in trucking, but it won't make a dent to market share until 2024. A very strong product line-up means it can co
Box beats Q1 estimates as enterprises look for secure remote work solutions | ZDNet
While the company expects enterprise customers to continue increasing their adoption of Box services, it does anticipate some softness from small business customers.
Crude oil at biggest discount in over a decade; this is where Indian Oil is still buying oil from
Gulf producers such as Iraq and Saudi Arabia -- which together supplied around 40% of India’s oil imports last year -- have been offering cargoes at very attractive prices recently, Sanjiv Singh, chairman of Indian Oil Corp., said in an interview.
RIL, which made equities popular, inaugurates new trading venue with biggest ever rights issue
Introduced in January, the trading platform allows shareholders to sell their rights entitlement to others interested in subscribing to the share sale.
SBI extends term loan EMI moratorium by 3 months as coronavirus 'respite''
The state-owner lender said it had contacted loan customers to obtain their consent to stop their Standing Instructions
India's Q1 GDP may contract 40%, states to lose Rs 30 trillion: Report
For FY21, the SBI Ecowrap report has projected a 6.8 per cent contraction in the country's real GDP
Banks not passing rate cut benefits to borrowers, developers: CREDAI to RBI
RBI has directed the banks to link floating rates on housing loans to external benchmarks
India can tide over worst recession, but govt must be careful: Experts
Montek Singh, D Subbarao were participating in a webinar hosted by Bhavan's SP Jain Institute of Management Research
Trai unlikely to take up floor price issue for 2 mths over Covid-19: Report
Telecom players recently renewed their demand and asked Trai to move forward quickly on the issue of fixing floor price for tariffs
Anti-dumping duty likely on rubber imported from China, 3 other countries
Apcotex Industries Ltd has alleged that dumping of the product from these countries are impacting the domestic industry
Lockdown impact: NHAI to extend contract for private highway developers
25% average toll collection loss to get one-day extension
Patanjali to issue debentures worth Rs 250 cr; bidding to start on May 28
NCDs will carry a coupon rate of 10.10 per cent with a tenure of three years
Sun Pharma's Q4 pre-tax profit down 17% at Rs 577 cr on multiple one-offs
Revenues in the US market, its largest geography, came in at $375 million down 15 per cent, though the year ago period had a high base due to a one-time contribution of specialty products
A High-Profile Acquisition Shows Bitcoin Demand from Institutions is Surging
The world is experiencing the worst financial crisis in decades, but the bitcoin market has its own route. Coinbase plans to buy Tagomi.
French economy making 'cautious' virus lockdown recovery
A return to normal will likely take many months, warns France's national statistics agency
Renault-Nissan-Mitsubishi plan to deepen cooperation
Struggling automakers Renault, Nissan and Mitsubishi unveiled Wednesday a plan to deepen cooperation in their alliance that would see them develop nearly half of cars jointly by 2025 to cut costs and
Mega COVID-19 lockdown puts India’s 'animal spirits' to sleep in April
Government data will probably show expansion slowed in January-March to 1.5%
The Trump Administration’s War on Huawei Could Hurt These 3 Stocks
TSMC and two other tech giants could become collateral damage in the tech war.
Tesla Cutting Car Prices to Spur Demand
The electric vehicle company had strong first-quarter results, but COVID-19 related lockdowns have put a damper on North American car sales.
This Energy Stock Plans to Maintain Its 10%-Yielding Dividend
ONEOK believes it can navigate through the oil industry's current rough patch while leaving its dividend intact.
Reality check on finding new export markets: China's demand dwarfs the rest
Do you stop supplying half of your Shiraz to China because the government says we need to "diversify"? You can't give up that business to pursue wine sales in teetotal India or Indonesia.
COVID-19 rent aid for businesses, landlords to cost $520 million, PBO says
Parliament's spending watchdog estimates a federal program aimed at giving small businesses a break on their rent could cost the public purse $520 million this fiscal year.
Don’t Get Caught Up in the Hype of Gold Stocks
The current economic events are a plus for gold. But gold stocks have gotten ahead of themselves right now.
3 Gold Stocks to Buy on the Dip
Profit taking is knocking gold stocks off their perch, but the weakness is temporary. Here's how to buy-the-dip for high probability profits.
The 3 Best Stocks for Beginning Investors
Beginning investors can profit from stable blue chip firms with consistent dividends. Find out which stocks make the grade.
Why Facebook Stock Will Reach $300 Sooner Than You Think
The tech giant's ad revenue is likely to increase in coming quarters, which will push FB stock to new highs.
Gold Stocks Are a Safe Haven From the Upcoming Recession
If the global recession gets worse in the rest of the year, then gold stocks may continue to be good buys.
The Best Way to Play the Current Tech Rally Is eBay Stock
Covid-19 is bringing renewed interest in eBay stock, but the company's potential extends far beyond the current crisis. Here's why.
EU launches €750bn stimulus package to kickstart economies devastated by Covid-19
It is described as the biggest ever stimulus package and will be comprised mainly of loans and grants for businesses.
Special KLM flight brings home 276 Indians from Netherlands
On June 8, another batch of stranded Indians will be sent home by a special Air India flight from Amsterdam to New Delhi as part of the second leg of the 'Vande Bharat Mission'.
How Railways, Metro services plan to gather steam post-lockdown 4.0
Railways, Metro services plan: While Railways is set for the graded resumption of passenger train services from June 1, the Centre is yet to give the go-ahead for metro rail operations.
India’s GDP growth may rebound to 5 pc in FY22, says Subbarao
"I do believe that getting up to 5 per cent next year (FY22) is quite probable. The reason I say that is because this (COVID-19) is not a natural disaster. Our factories are still standing, our infrastructure and transport systems are still there," former RBI governor Duvvuri Subbarao said.
Dow rises on reopening hopes, extending rally
NEW YORK, May 27 — Wall Street stocks were mostly higher early today on continued optimism about the reopening of the US economy as investors shrug off rising tensions between Washington and Beijing. About 15 minutes into trading, the Dow Jones Industrial Average stood at 25,308.55, up 1.3 per...
EU pledges €40b for ‘just transition’ from fossil fuels
BRUSSELS, May 27 — The European Commission has increased five-fold its proposed European Union fund to wean carbon-intensive regions off fossil fuels, with fresh cash from a new recovery fund to help Europe’s ailing economies rebound after the coronavirus pandemic. Countries are already...
Apec senior officials discuss possible platform for info sharing on Covid-19
KUALA LUMPUR, May 27 — The Asia-Pacific Economic Cooperation (Apec) Senior Officials’ Meeting (SOM) today discussed on how to formulate a possible coordinated approach to collecting and sharing information on policies and measures regarding Covid-19 and its economic effects. In his welcoming...
Lufthansa says currently ‘unable to approve’ state rescue over EU conditions
FRANKFURT AM MAIN, May 27 — Coronavirus-stricken airline group Lufthansa said today its supervisory board was “unable to approve” a nine-billion-euro (US$9.9 billion) German state rescue over fears of over-harsh conditions from Brussels. “Conditions currently indicated by the EU...
IOI Corp’s Q3 profit hit by foreign currency translation loss
KUALA LUMPUR, May 27 — IOI Corporation Bhd’s net profit fell to RM100,000 for the third quarter (Q3) ended March 31, 2020, from RM248.5 million in the same period last year due to a large net translation loss on foreign currency-denominated borrowings. However, revenue was higher at RM2.03...
FG builds 200,000 yam storage facility in Benue state for small businesses
The federal government will on Tuesday, June 9, inaugurate a 200,000 capacity yam storage facility for Micro, Small and Medium Enterprises (MSMEs) in Benue.
Court upholds suspension of EcoCash agents
The Reserve Bank of Zimbabwe (RBZ) acted within its mandate when it suspended EcoCash mobile money agents from conducting financial transactions to curb abuse, the High Court has ruled, and so there can be no interdict stopping it from doing so.
Ralph Lauren speeds up online shift as store reopenings continue
Ralph Lauren Corp. has reopened a significant portion of its global store network and will accelerate its digital plans as pandemic restrictions ease around the world.
ETFs pave the road for those seeking diversification
ETFs are popular because they are simple and inexpensive, but their main failing is that they don't exclude low-performing components.
The two things Kerr Neilson fears in pandemic
The fund manager knows his way through a crisis. This time he’s afraid of only two things: unlisted asset valuations and strongmen promises.
Fewer Australians feeling depressed by the crisis
The proportion of Australians expecting the effect of the pandemic on economic activity to last for more than 12 months has fallen from 57 per cent to 50 per cent.
Fix training to end the quiet Australians' fear of uncertainty
Vocational education reform is about encouraging the quiet Australians to profitably invest in their own human capital, so they need not fear Australia’s 21st-century end of certainty in an information age and globalised economy.
Retailers name top areas for IR reform
Changes to strict rosters limits, award classifications and the approval test for collective agreements are on the top of retailers' wish lists ahead of industrial relations reform talks.
Back-to-basics billionaire sounds money-printing warning
Legendary stock picker Kerr Neilson says big spending was entirely appropriate to fight COVID-19, but wonders if the world really wants to own more bonds.
Labor flags super pledge for work deal
The ACTU faces pressure from the broader labour movement to safeguard the legislated 12 per cent superannuation guarantee.
Investors hot in pursuit of ETFs
The demand for exchange traded funds has held up well despite the virus-induced crisis in the markets.
Businesses give up office space in Sydney CBD
The amount of office space in the Sydney city centre available for sub-lease has hit its highest level since the early 1990s recession.
IOOF embarks on pro bono advice offensive
IOOF's financial advisers will provide at least 50,000 hours of free guidance on the JobKeeper program and the superannuation early release scheme.
Call to avert domino-effect collapse of energy retailers
The proposed emergency reform comes as some smaller electricity retailers are feared to be only a few weeks away from going under because of the impact of COVID-19 on their customers.
Why SMSFs shouldn't attempt to perform their own surgery
With volatility and financial advice costs both at historic highs, a fintech start-up has pioneered a new way for self-managed investors to find help.
Why bonds are in great demand
Despite the high investor interest, it is important to understand bonds and the factors causing price movements in them.
Congress Should Give Returning Workers a Bonus
A one-time lump-sum payment would also help the overall economy.
Nissan's Future Is About To Be Decided
Even before the coronavirus pandemic struck, Nissan was in a difficult position. Profits were way down part...
Lawsuit seeking billions in damages filed against EasyJet
British law firm PGMBM announced Tuesday it filed a lawsuit against EasyJet in connection with a breach that exposed data on aprroximately 9 million people.
TCN MD removal threatens power reforms, $1.66bn foreign funding – Forum
The Nigerian Power Consumers Forum, NPCF, has called on President Muhammadu Buhari to immediately direct a reversal of removal
VerifyME, Jobberman join skills towards robust last-mile authentication
Know-Your-Customer, KYC, technology company, VerifyMe, has entered into partnership with Lagos-based job portal, Jobberman.
Right of Way: Why right to development now rests with governors
ITU once s aid that a 10 percent broadband penetration in Africa would result in an increase of 2.5 percent of GDP per capita.
NCC announces indefinite suspension of 2018 spectrum trading guidelines
By Emmanuel Elebeke The Nigerian Communications Commission (NCC) has suspended the Spectrum Trading Guidelines 2018 for the Nigerian telecommunications industry. The position was taken at a recent meeting of the Board of Commissioners of the Commission and urged all licensed telecommunications operators, prospective investors, industry stakeholders and the general public to take note. In aRead More
A car-rental company previously owned by Hertz just filed for bankruptcy for the third time since 2008
The intertwined stories of Hertz and Advantage reveal how dozens of financial and strategic blunders sank both firms into massive debt.
Unemployment will be higher in the US than in other advanced economies through 2021, Goldman says
A lack of stricter job-preservation policies and expanded unemployment benefits will prolong the US's labor-market recovery, Goldman economists said.
Economists expect another 2.1 million Americans filed for unemployment insurance last week
The falling rate of weekly claims suggest the US is "well beyond the peak of inflows into unemployment," said Deutsche Bank economist Justin Weidner.
Diplomats adopt ingenious methods to get to designated workplaces
Many diplomats designated to new roles and stations utilized flights operated for repatriation to reach workplaces
Govt amends norms; companys’ contribution to PM Cares Fund to qualify as CSR expenditure
NEW DELHI: The government has amended the norms whereby contributions by corporates to the PM CARES Fund will qualify as … Govt amends norms; companys’ contribution to PM Cares Fund to qualify as CSR expenditure Read More »
Why the people rushing to get life insurance now are doing a smart thing
The pandemic has opened people’s minds about the need to protect dependants in case of an emergency
Investors need to embrace ‘The Lobotomy Paradigm’ and how to build a portfolio for what comes next
A roundup of investment ideas for active investors
Ackman says hedge fund up 27 per cent year to date, dumped Berkshire
The public and private funds at Pershing Square Capital Management have gained between 22% and 27% this year
Ethereum is Ready For Heavy Volatility, And Analysts Predict a Big Rally
It's been a quiet past few days for Ethereum and the rest of the crypto market.
BoA Experiences Potential Data Breach With PPP Applications
Bank of America notified principal owners of a potential data breach after the bank uploaded loan applications of some customers to a test application platform.
Buhari approves funding for first phase of Siemens power deal
President Muhammadu Buhari has approved the release of funds for the first phase of the Siemens electricity deal. In 2019, the president had signed a power project deal with Siemens
Telangana government undecided on opening of hotels
The Telangana government is still undecided on whether or not to permit opening of restaurants in the State though the hoteliers say that they would ensure social distancing norms
FDCI to host a 'phygital' Fashion Week
The Fashion Design Council of India (FDCI) took to Instagram to post a teaser that says 'FDCI goes digital India's First Ever Digital Fashion Week.' The event is set to be a 'phygital'
Dow soars 553 points on mounting optimism around a strong economic recovery
US stocks rose on Wednesday as investors were encouraged by signs that international authorities were taking measures to boost the global economy.
A car-rental company previously owned by Hertz just filed for bankruptcy for the third time since 2008
A former subsidiary of Hertz just went bankrupt, claiming more than $500 million in debt.
Unemployment will be higher in the US than in other advanced economies through 2021, Goldman says
Lasting fallout in the US labor market will keep the unemployment rate higher than in peer countries for more than a year, Goldman Sachs economists said in a Tuesday note.
Economists expect another 2.1 million Americans filed for unemployment insurance last week
Millions of Americans are still filing for unemployment insurance on a weekly basis, even after many states begin to open their economies from lockdowns to contain COVID-19.
Stocks rally on EU stimulus plan, euro gains
NEW YORK (Reuters) - Equity markets rallied on Wednesday, lifted by enthusiasm for the European Union’s plans for a 750 billion euro ($823 billion) recovery fund, but crude prices slid on concerns about unrest in Hong Kong over Beijing’s proposed national security laws.
LIVESTOCK-Cattle futures rise on economic optimism, discount to cash prices
By Karl PlumeCHICAGO, May 27 (Reuters) - U.S. cattle futures rallied for a second straight day on Wednesday as easing coronavirus restrictions around the country bolstered optimism about the outlook for the economy and beef demand.U.S. stocks rose, with the S&P 500 closing above 3,000 for the first time since March 5, as further easing of lockdowns lifted investor optimism.
UPDATE 1-COFCO to turn Santos port terminal from grains to sugar - statement
(Adds details of operation, context on sugar market)By Roberto Samora and Marcelo TeixeiraSAO PAULO/NEW YORK, May 27 (Reuters) - Chinese commodities trader COFCO International said on Wednesday it will use its 12A terminal in Brazil's Santos port to move sugar instead of grains beginning in July and through the end of the year.
Dow closes 550 points higher, as investors look past dismal economic data and escalating U.S.-China tensions
Major U.S. stock benchmarks roared higher Wednesday, despite the battered state of the economy and rising tensions between Beijing and Washington as...
Apple reopens all of its stores in Arizona
Apple confirmed Tuesday that it would reopen all six of its retail stores in Arizona this week for in-store service, technology support, and curbside pickup.
Post-Covid Privatisation Will Push Labour Into a Deathtrap
Metaphorically the heart (hruday) represents human goodwill and helping nature toward the helpless and needy, whereas atma (soul) represents the non physical self which is disconnected from physical suffering. One can only take care of one’s own atma and never the atma of others.
Neste and Covestro enter cooperation related to sustainable plastics production
Neste Corp. (Espoo, Finland) and Covestro AG (Leverkusen, Germany) are starting a strategic cooperation in Europe to promote the use of sustainable raw mat
13 YouTube channels to turn yourself from wagecuck to finance god
It seems budgeting, saving, and investing are all the rage nowadays, and that everyone’s joining the FIRE (Financial Independence Retire Early) movement. This is reflected by the increasing popularity of budgeting and trading apps, ETFs (exchange traded funds, baskets of stocks you can invest in to spread your risk), and business news sites. But who […]
Whole Scottish golf tourism summer season could be lost, claim operators in plea to First Minister
A group of leading Scottish golf operators has made a plea to First Minister Nicola Sturgeon for help from “a clear and present danger” that the entire 2020 summer season could soon be lost.
AUD/USD reversal from 0.6680 finds support at 0.6565
Australian dollar’s reversal from 2, 1/2-month highs at 0.6680 has been contained at 0.6565 on Wednesday’s US trading session and the pair is trimmin
EUR/PLN three-month forecasts trimmed to 4.80 from 5.00 – Rabobank
The Polish zloty has rallied sharply over the last sessions buoyed by investors’ confidence on a quick economic recovery, which has prompted the Rabob
Louisiana House members advance spending bills that use federal money to avoid deep cuts
The Louisiana House of Representatives on Tuesday approved a $30-billion-plus state operating budget that uses federal pandemic relief funds to make up for most of a projected billion-dollar revenue shortfall.
French economy making 'cautious' virus lockdown recovery
Economic activity in France is making a clear if cautious recovery after lockdown measures were relaxed earlier this month but the country is still heading for a roughly 20 percent contraction this quarter, the national statistics agency said Wednesday.
Boeing slashes 12,000 jobs as virus seizes travel industry
Boeing is cutting more than 12,000 jobs through layoffs and buyouts as the coronavirus pandemic seizes the travel industry, and more cuts are coming.
The Fed is considering a policy tool not used since World War II to keep borrowing costs at historic lows, Business Insider - Business Insider Singapore
Business Insider - Yield-curve control allows central banks to target certain long-term interest rates through the limitless buying and selling of bonds.. Read more at businessinsider.sg
Warren Buffett's Berkshire Hathaway loses Bill Ackman as an investor, Business Insider - Business Insider Singapore
Business Insider - Ackman's sale of his $1 billion stake is surprising as he boosted his Berkshire holdings by more than a third in the first quarter.. Read more at businessinsider.sg
Coffee quality likely to drop as farmers struggle to offload unsold harvest
Kampala, Uganda | THE INDEPENDENT | The quality of coffee from a lot of farmers will likely be compromised as many who failed to get buyers to take their produce decided to heap it in their homes. This is according to the Uganda Coffee Development Authority (UCDA) managing director Emmanuel Ilamulemye, who spoke during an …
Oman's share index ends marginally higher
MSM30 index closed at 3,445.68 points, up 1.11 per cent from previous close
COVID-19 crisis is causing biggest fall in global energy investment in history: IEA
The unparalleled decline is staggering in both its scale and swiftness, with serious potential implications for energy security and clean energy transitions
France unveils $8.7 billion plan to rescue ailing car industry
The plan focuses on the production of environmentally-friendly vehicles
Chan Chun Sing thanks Singaporeans for complying with circuit breaker but warns against complacency
Chan Chun Sing thanks Singaporeans for complying with circuit breaker but warns against complacency
‘Although the battle against COVID-19 is uncertain, we will prevail!” – Lawrence Wong
‘Although the battle against COVID-19 is uncertain, we will prevail!” – Lawrence Wong
PR Consulting Shutters L.A. Office
A growing number of p.r. firms have been impacted by COVID-19 as fashion companies postpone shows and events and pull back on advertising.
Michele Norsa Returns to Salvatore Ferragamo as Executive Deputy Chairman
Norsa helmed the Florence-based company for 10 years, exiting in 2016.
Turkish Airlines may delay delivery of Airbus, Boeing planes: Report
Turkish Airlines , which halted nearly all of its passenger flights as a result of the coronavirus crisis, may delay the delivery of some Boeing ...
H&M set to cancel furloughs for 2,500 at Stockholm headquarters
H&M , the world's second-biggest fashion retailer, said on Wednesday it expects the 2,500 furloughed staff at its headquarters in Stockholm to be ...
Tencent seeks US$6 billion in bond sale as protests hit Hong Kong
Chinese technology giant Tencent kicked off its offer of bonds worth up to US$6 billion in Hong Kong on Wednesday, launching the sale even as ...
COVID-19's Final Act And Epilogue
COVID-19 is winding down. MLPs and MLP closed end funds are a bargain. The stock market has upside but there are many risks.
Diamondback Energy: Hunkering Down For A Brutal Second Quarter
Cash production costs are among the lowest in the industry for oil producers. The well profitablity occurs at unexpectedly low WTI prices. This company probably
Chewy: Reaping The Benefit Of Stay-At-Home Measures
Chewy is the largest pure-play pet e-commerce player and it was approaching break-even EBITDA as of Q4 2019. The pandemic and WFH measures have resulted in more
Go Long On SinoPharm Group's HKEX Ticker 1099:HK
There are obvious risks investing on Chinese companies right now. President Trump is hell-bent on winning his re-election via anti-China tirades. Most U.S. stoc
Montage Resources: Swearing Off Debt Addiction
Current management knows first hand what too much debt can do to a company's survival chances. The EBITDAX ratio of 1.9 will creep upward during the current fis
SK Telecom: Still Waiting For Positive Change
SK Telecom offers a relatively attractive consensus forward FY2020 dividend yield of 4.8%, and there could be further upside to the company's future dividend pa
London markets make ‘solid’ gains as trading optimism continues
London’s top flight closed 76.49 points higher at 6,144.25p at the end of trading on Wednesday.
The Euro-to-Dollar Rate Crosses Rubicon On EU Recovery Plan but Analysts Divided in Views on Outlook
The Euro vs the Dollar - Latest Exchange Rate News and Forecasts on the Euro Dollar Currency Pair Today
Delhi HC sets aside orders by MoC where it invoked bank guarantees of TSIL
The court has ordered that MoC shall provide TSIL the comments received from the concerned State Government(s) on the aspect whether the delay in achieving the milestones is attributable to TSIL
Tata Power plans to add 700 MW in renewable energy
Enhances renewables portfolio by 7% to 3,833 MW
Loans to MSMEs may get ‘risk-free’ tag
On FinMin nudge to RBI, banks may not need to set aside capital; Centre expecting less than 15% NPAs
City springs back to life with almost all shops open
Managements are strictly following guidelines to prevent virus spread
Sensex rises 1,000 points as banking stocks shine
Axis Bank leads pack with 13.46% gain
IHCL goes for enhanced safety and hygiene for opening hotel post lockdown
As part of its strategy to open its hotels after lifting of lockdown, Indian Hotels Company Ltd. (IHCL) has decided to use industrial strength disinfectants at common and high-touch areas of hotels li
New bid for 27 self-build and custom-built homes in Suffolk village
Plans for up to 27 new homes in Melton have been re-submitted by developers.
New home construction could drop by as much as 75 per cent from early-year levels, CMHC warns
Work stoppages and restrictions on construction have slowed residential building, especially in Quebec and Ontario
After-school sector wants free care extended over winter holidays
While schools have resumed full-time teaching, the out-of-school-hours sector is unsure how many families will still need its services
Shanghai Stock Exchange Mulls First Revamp of Benchmark in 30 Years
(Bloomberg) — The Shanghai Stock Exchange is considering the first overhaul of its benchmark index in three decades so that it better reflects China’s increasingly high-tech economy, according to people familiar with the matter.
MTD Bus Capacity Increases, Face Masks Required
[Since] Friday, Santa Barbara MTD increased the number of passengers allowed on board all MTD buses.
4th Budget sets aside $33b more to help workers, businesses
The Straits Times/ANN - Deputy Prime Minister Heng Swee Keat yesterday announced a $33 billion supplementary Budget aimed primarily at helping workers and businesses pull through the Covid-19 pandemic and the bleak economic outlook ahead.
Oil slips on demand worries, Hong Kong tensions
Brent crude futures fell 21 cents, or 0.6%, to $35.96 by 0120 GMT. US West Texas Intermediate (WTI) crude futures were down 31 cents, or 0.9%, at $34.04 a barrel.
Angry farmers force rethink: Khattar govt softens paddy diversification order
The change in government stand came on the day CM Manohar Lal Khattar met farmers in Kurukshetra to take their feedback on the issue.
National Creative Industry Policy must be improved, says minister Saifuddin Abdullah
KUALA LUMPUR, May 27 ― The National Creative Industry Policy (DIKN) must be re-assessed and improved to spearhead the growth of the national creative industry, said Communications and Multimedia Minister Datuk Saifuddin Abdullah. At the same time, he said, an audit must be conducted of the...
France GDP could fall 'around 20pc' in second quarter, statistics agency says
PARIS, May 27 — France's economy could contract by around 20 per cent in the second quarter as lockdown measures meant to slow the spread of the coronavirus slashed activity, the national statistics agency Insee said today. It said that the French economy was currently running “at roughly...
Kentik raises $23.5M for its network intelligence platform
Kentik, the company once known as CloudHelix, today announced that it has raised a $23.5 million growth funding round led by Vistara Capital Partners, with existing investors August Capital, Third Point Ventures, DCVC and Tahoma Ventures also participating. With this round, Kentik has now raised a total of $61.7 million. The company’s platform allows enterprises […]
Yuan slumps on Sino-US tensions
Friction between the world's two largest economies led to the yuan falling to its lowest level in nine months on Wednesday.
ASX edges lower, even as investors pump $18b into banks
The Australian sharemarket was unable to extend its 11-week high on Wednesday, despite a strong bid for the major banks by institutional investors.
Pandemic kills off GSFM volatility fund
The Triple3 Volatility Advantage Fund established in 2014 by respected fund manager and former Goldman Sachs options trader Simon Ho has been wound up.
The reality behind the unions' claims of insecure work
There's one flaw in the concerns about the rise of insecure work. The percentage of casuals in the workforce has not changed in more than two decades.
What's behind the bank rally
The three forces driving the stunning rally in bank shares over the past few days speak to a change in the mood of local investors.
Crisis causes a rethink on CBD office space
Those organisations that can offer their staff flexible working arrangements will have a competitive advantage in attracting better talent,
Financial complaints watchdog inundated with calls linked to pandemic
Banking and finance companies were responsible for almost half of the 3000-plus complaints to the Australian Financial Complaints Authority, while almost 700 related to customers in financial difficulty.
Modi govt amends Companies Act, makes PM CARES eligible to receive CSR funds
The notification was brought in to make PM CARES fund eligible to receive CSR funding. It will be implemented with a retrospective effect and shall deem to have come into force on March 28.
NZD/USD: Basking in the wave of risk-on euphoria – ANZ
The kiwi basked in the euphoria of the S&P 500 breaking 3000 and broke the 0.6170 resistance. The NZD/USD will remain bid, but analysts at ANZ Bank ar
Gold: On the verge of losing the $1700 level
Gold pulled back on Tuesday as the risk theme turned positive and equities rose. The price moves lower toward $1700, FXStreet’s analyst Rajan Dhall re
USD/JPY does not rule out a move to 107.20 – UOB
According to FX Strategists at UOB Group, USD/JPY could slip back to the 107.20 region in the short-term horizon. Key Quotes 24-hour view: “USD traded
Gold Price Analysis: Pressed to critical support, break or bounce? – Confluence Detector
Gold has been dropping from the highs amid an upbeat market mood that turned unfavorable for the precious metal. Can it recover? XAU/USD is sitting at
WTI stays below $34.50, prints mild losses in Asia
WTI slips from the daily high to $34.20, down 0.23% on a day, while heading into the European session on Wednesday. The barrel of black gold recently
US Conference Board Consumer Confidence: Dollar risk premium subsides as market panic fades
Confidence edged higher in May after six-year low in second sign of consumer stability while New Home Sales ticked higher April, belying predictions f
Preview: A Youth Dialogue with ECB’s Lagarde on the COVID-19 response
The European Central Bank (ECB) President Christine Lagarde’s speech will be closely eyed ahead of the European Union (EU) Summit to reach an agreemen
Natural Gas Price: Cautiously positive
CME Group’s preliminary data for Natural Gas futures markets noted open interest shrunk for the second session in a row on Tuesday, this time by nearl
Cancellations continue, blame it on low passenger load factor
Officials said the Indira Gandhi International Airport in Delhi handled around 277 flights on Tuesday, 100 short of its estimated figure.
Kotak Mahindra Bank launches Rs 7,000-cr share sale through qualified institutional placement
Private sector lender Kotak Mahindra Bank on Tuesday launched its over Rs 7,000-crore qualified institutional placement (QIP) of shares
Glenmark Pharmaceuticals receives approval from USFDA to market generic drug for muscle pain in American market
Glenmark Pharmaceuticals on Wednesday said its subsidiary has received approval from the US health regulator to market Chlorzoxazone tablets, used to treat muscle pain, in the American market
More than 130 homes approved for £50m Beeston Square development
It includes an eight screen cinema, 132 homes and space for a number of restaurants and bars
Milestone In Cash Flow Support To SMEs
A billion dollar milestone is about to be passed as government cash flow support rolls out to small businesses through interest-free loans.
Mexico's auto industry restart gathers steam, Ford still waiting
Mexico's auto industry reopening picked up pace on Tuesday, with Fiat Chrysler and BMW AG joining peers in gradually dusting off operations even ...
‘We have to move beyond being oil traders’: What Singapore’s future as an oil hub could look like in a post COVID-19 world
Consolidation and transformation is vital to Singapore’s survival as an oil hub in a post COVID-19 world, say industry watchers.
Commentary: Multibillion-dollar wizards – how COVID-19 is exposing what’s behind the curtain
Platform giants should be thriving where the coronavirus have pushed consumers and merchants to embrace e-commerce, yet many are laying off staff, ...
Mexico's auto industry restart gathers steam as lockdown eases
Mexico's auto industry reopening picked up pace on Tuesday, with Fiat Chrysler and BMW AG joining peers in gradually dusting off operations even ...
FX Weekly: Calling For Chinese Help
The FANG+ stocks trade is getting crowded as the index is trading back to pre-COVID-19 highs. The recovery will take longer than governments expect due to socia
Regional Manufacturing Indexes Begin Long Road Back In May
The May 2020 Philadelphia and Empire State regional surveys of manufacturing conditions showed the early stages of recovery among the regions' manufacturers. Im
Supermarkets ease buying restrictions as excess workers drop off
As supermarkets grapple with balancing out panic-buying with an over-supply of slim margin inventory, sales markdowns will start to pop up on shelves.
Second Iranian Oil Tanker Arrives At Venezuela's Largest Refinery
A second Iranian tanker carrying gasoline and oil derivatives has arrived at crisis-stricken Venezuela's main oil refinery, amid escalating tensions between Washington and the two U.S.-sanctioned countries.
Auto Trader to offer 25% discount as it starts trading from June 1
Auto Trader has said it will slash its prices in June as the Government allows car dealerships to open again.
Pandemic slows electric vehicle revolution due to lithium battery shortage
The coronavirus pandemic has paused the electric vehicle revolution, forcing producers of lithium into survival mode with output cuts.
IndiGo to help man who sold his goats to buy flight tickets
In Mumbai, a migrant labourer family sold three goats to buy air tickets but the flight got cancelled.IndiGo said it has now booked tickets for the workers at no extra charge
Jewellery manufacturers call for opening of showrooms in Coimbatore
In a memorandum submitted to the Collector, the Coimbatore Jewellery Manufacturers Association said that while the small jewellery shops are open, the bigger showrooms remain shut
Wonderla gets extension on tax break, as lockdown hits construction
The amusement park operator has obtained a further extension of an entertainment tax exemption from the State government, to cover a period of five years from the date of commercial operations or September 30, 2021, whichever is earlier
APSPDCL MD promises to revise power bills
Many consumers in Anantapur had complained that their bills were inflated
Changing balance across LAC trigger for stand-off, says China expert Taylor Fravel
China is likely responding to what it sees as a challenge to its position, he opines
Virus could cost SA five years of potential output
Reserve Bank ready to step in with a ‘variety of additional tools’.
Airtel's stake sale to get ready for a bigger fight with Jio
Analysts say that the idea behind Bharti Telecom's deleveraging is to fortify the promoter firm when financial conditions are deteriorating for companies across the board
BT Buzz: What added Rs 86,000 crore to DRL, Sun Pharma market cap in 2 months?
Approval to explore new COVID-19 therapies, licensing and supply deals to manufacture drugs to treat the virus and fast approvals for plants under regulatory scanner have turned the fortunes of most of these companies
IRCTC special train tickets: Booking & cancellation of train tickets possible at post offices too!
The train ticket booking or cancellation facility for IRCTC special trains is also available at Indian Railways' computerized Passenger Reservation System (PRS) counters in railway premises or reservation centers as well as Common Service Centers (CSC).
HDFC shares tanked with Sensex but recovery remains astray; brokerages still bullish, check target price
With a warchest of Rs 11,000 crore HDFC might be ready to battle the coronavirus pandemic but with the stock gaining only 4% so far since its March lows, the question is will the share price gain steam?
Aditya Birla Fashion set to launch Rs 1,000 crore rights issue; here’s what it will do with the money
The board, which is meeting on Wednesday, is set to approve the plan to raise Rs 1,000 crore by way of a rights issue, which will be fully subscribed to by the promoters/promoter group, the official said.
Global stocks mixed on unease over Hong Kong security law
Benchmarks in Shanghai and Hong Kong retreated after the White House said a proposed national security law might jeopardize the Chinese territory's status as a global financial center.
Banks, financial stocks help Sensex, Nifty rise over 3%, check what propelled the rally on D-Street
Axis Bank was the top Sensex gainer, ending the session with a growth of 13.46 per cent. While Sun Pharma was the top Sensex laggard, after reporting Q4 earnings which were below expectations
Amazon provides free COVID-19 health insurance for its sellers
Amazon has partnered with Acko General Insurance (Acko) to manage the policy delivery and handling of claims and reimbursements.
COVID-19 crisis: IT employees union writes to CM over lay-offs
National Information Technology Employees Senate (NITES) in the letter written to CM on Tuesday said several IT/ITeS/BPO/KPO companies across Maharashtra have started terminating services of their employees without any reasonable cause and withholding or deducting their salaries.
McDonald's to reopen all UK and Ireland stores in June
Burger chain will reopen all 1,000 branches by 4 June with coronavirus safety measures
Irdai allows PNB to hold more than 10% promoter stake in 2 insurance firms
The insurance regulator has allowed PNB to keep its shareholding in both the insurance companies intact for now
Amrapali case: ED attaches JP Morgan India accounts worth Rs 187 crore
The Supreme Court on Friday had allowed the agency to attach the investment banking firm's assets to recover the amount identified as proceeds of crime under PMLA
Brazil's Troyjo to be new head of BRICS bank; SBI's Anil Kishora vice-prez
The decisions were made on Wednesday at a special meeting of the Board of Governors in accordance with the Articles of Agreement of the NDB and its procedures, a press release from the bank said
Torrent, Lanco among private gencos not paid by Madhya Pradesh Power Co
This move by MP govt comes after the union power ministry had clarified electricity generation is an essential service and no state can invoke force majeure to defer payments
Here’s Why a Lawyer Thinks Russia’s Cryptocurrency Ban is Unconstitutional
Recently, we reported that Russia planned to criminalize the use of cryptocurrency, but one lawyer thinks it may be unconstitutional.
COVID-19: Boeing slashes 12,000 jobs as virus seizes travel industry
Air travel within the US tumbled 96% by mid-April, to fewer than 100,000 people on a day
COVID-19: EU aims to back struggling south with fiscal shock and awe
Blueprint will form central plank of EU’s response to coronavirus pandemic’s impact
These 4 Chinese Stocks Are Too Risky to Own
Luckin Coffee and three other Chinese stocks could be in the blast zone of newly proposed regulations.
IMF Says Banks' Profitability Could Be Muted Through 2025
A new report says a host of headwinds will trouble financial institutions worldwide for years, though North American banks are expected to fare slightly better.
Nasdaq Today: What's Sending Chip Stocks AMD and NVIDIA Lower Wednesday?
Stocks were largely mixed, but it was a poor day for the Nasdaq in particular.
Why Carnival Corporation, Royal Caribbean, and Norwegian Cruise Line Stocks Jumped -- Then Slumped -- Wednesday
Shares of cruise industry stocks jumped out of the gate Wednesday -- then dropped anchor.
Boeing slashes 12,000 jobs as virus seizes travel industry
Boeing is cutting more than 12,000 jobs through layoffs and buyouts as the coronavirus pandemic seizes the travel industry, and more cuts are coming.
Boeing cuts 12,000 jobs, resumes production of grounded jet
Boeing is cutting more than 12,000 U.S. jobs through layoffs and buyouts as the coronavirus pandemic seizes the travel industry. And the aircraft maker says more cuts are coming.
10 Stocks Worth Your Time on Robinhood’s Top 100 List
Robinhood's top 100 list gives us a glimpse into millennial trading habits, but these ten Robinhood stocks should make your buy list.
Shopify Will Remain an E-Commerce Powerhouse
Shopify is capitalizing on this shifting trend in e-commerce as people avoid brick-and-mortar stores. SHOP stock is a strong buy right now.
Be Ready to Sell Speculative Marathon Oil Stock at Any Moment
Investors are chasing MRO stock up in May on an assumption the oil patch will permanently rebound. That's a foolish and costly mistake.
There’s a Bull Case for Delta in a Bear Market
Although the airline industry is getting pummeled, DAL stock looks to be the best poised to turn around among the major carriers.
Can Marathon Oil Ever Get Back to $30?
Marathon Oil spun-off Marathon Petroleum (NYSE:MPC) on July 1, 2011. MRO stock has lost 78% of its value. Can it get back to $30?
London markets make ‘solid’ gains as trading optimism continues
London’s top flight closed 76.49 points higher at 6,144.25p at the end of trading on Wednesday.
Halfords' Telford store reopens as 'retail lite' operation
Halfords has already reopened its Telford store, with some drastic changes.
Post COVID-19: We're determined to pass local content bill to boost Nigeria's economy - Reps
The widely expected Nigerian Local Content Development and Enforcement Bill 2020, passed second reading on the floor of the House of Representatives recently.
Boeing starts job cuts with 6,770 layoffs in U.S. this week
Boeing Co. unveiled the first of its planned job cuts, saying it would notify 6,770 employees in the U.S. this week that their positions would be eliminated.
Boral faces new class action over US windows strife
Maurice Blackburn's class action over Boral's accounting scandal in a US windows business is the second to be launched in Australia.
Oppo doubles down on mobile chip manufacturing efforts
Oppo, one of China's biggest smartphone manufacturers, is planning to invest more into in-house chip development.
Got $3,000? These 5 Beaten-Down Stocks Are Begging to Be Bought
Opportunity is knocking for investors with a long-term mindset.
GE Stock Comeback Story is Delayed But Not Canceled
The comeback story of 2020 will have to wait. But if management continues on its 2019 track, GE stock should make the turn eventually.
How to Trade Alibaba Stock After Underwhelming Earnings Fizzled Its Takeoff
Earnings upended Alibaba stock's breakout, and now the chart's a mess. Steer clear for now, or sell credit spreads to bank on the chop.
Lagarde: It’s even worse than we thought
ECB president supports more public spending as milder economic predictions are ‘out of date.’
Africa: Building resilient economies through regional integration
The second Africa Regional Integration Index (ARII 2019) launched by the ECA, AfDB and the AUC, calls for African economies to deepen their integration.
Op-Ed: Challenges faced by early-stage clean energy companies
Like many other sectors, early-stage clean energy companies are heavily affected by the COVID-19 pandemic and the response of governments to it.
Government extends BPCL bid deadline to July 31
The EoI submission deadline was May 2, but on March 31 it was extended up to June 13.
Ola Electric acquires Amsterdam-based Etergo, to launch electric two-wheeler next year
Ola Electric Mobility (OEM) on Wednesday said it has acquired Amsterdam-based Etergo BV, a move that will help the Indian firm foray into the global premium electric two-wheeler market.
Ravi Shankar Prasad hits out at Rahul Gandhi, says Congress-ruled states imposed lockdown first
Rahul Gandhi on Tuesday had said the aim and purpose of the nationwide lockdown has “failed” and asked the Centre to spell out its strategy now to contain the spread of coronavirus.
ECB’s Lagarde ‘not overly concerned’ about new euro crisis
FRANKFURT AM MAIN, May 27 — European Central Bank chief Christine Lagarde said today she was “not overly concerned” that the coronavirus pandemic could renew fears of the eurozone breaking up, after a report from the Frankfurt institution highlighted the danger yesterday. “I’m not overly...
Stock markets mixed as China-US tensions return to fore
HONG KONG, May 27 — Equities were mixed today as profit-taking and worries about deteriorating China-US relations were weighed against optimism over the gradual reopening of economies around the world. Hong Kong extended losses as police fired pepper-ball rounds as anti-China protesters took to...
Covid-19: Johor govt urges employers to register with Socso for foreign worker screening
JOHOR BARU, May 27 — The Johor government has urged employers to register under the state’s Social Security Organisation (Socso) so that their foreign migrant workers can be screened for Covid-19. Johor Health and Environment Committee chairman R. Vidyananthan said Johor Socso has been asked to...
How to move beyond the burden of legacy systems [Q&A]
These days, companies are seeking to stay competitive and current by pursuing and succeeding at end-to-end digital transformation.
Need to know: Wednesday
The coronavirus pandemic is dominating global markets, business and politics. Here's our daily take on the most important stories, and some things to watch out for.
Training sector held back by Federation, says IR reformist
The big criticism focuses on the link between training and award wages, established in 1990.
EU Aims to Back Struggling South With Fiscal Shock and Awe
The European Commission unveiled an unprecedented stimulus plan to tackle the worst recession in living memory and underwrite struggling Italy’s membership of the 27-nation bloc.
Gold trades with modest losses, holds above $1700 amid escalating US-China tensions
Gold dropped to fresh two-week lows during the early European session and was last seen trading with modest losses, just above the $1700 mark. The com
EUR/CHF: Awaiting EU Recovery Fund details in the 1.05-1.07 range – Credit Suisse
Analysts at Credit Suisse see a 1.05-1.07 range in EUR/CHF as the most likely outcome for the time being pending further details on the EU Recovery Fu
GBP/USD: Focus on the strong resistance at 1.2360
GBP/USD Wednesday's four-hour chart is painting a bullish picture with clear resistance at 1.2360, as FXStreet’s analyst, Yohay Elam notes. UBS expect
Indians prefer features such as AI camera, fingerprint sensor while purchasing budget smartphone: Study
The features such as Artificial Intelligence (AI) camera, fingerprint sensor and drop notch displays are the most-preferred features for consumers when looking for a budget smartphone, according to a
Power of Attorney given to stock brokers: What’s changing from June 1, 2020?
In the aftermath of the Karvy Stock Broking scandal which revealed misuse of Power of Attorney (PoA) issued by clients in favour of their stock broker, market regulator Securities and Exchange Board o
Demand pick-up key for stimulus package to see desired results, says Sundaram Home Finance MD
One will have to wait for at least a couple of quarters to assess this
Japan PM vows to back corporate financing with second extra budget
TOKYO: Japan's government will provide 140 trillion yen (US$1.3 trillion) to back financing of Japanese firms hit by the economic fallout from the ...
Consumer Confidence Inches Higher
Consumer Confidence showed a slight improvement in May, rising from 85.7 up to 86.6 but below consensus expectations for a reading of 87.0. All of the improveme
Harvest Health: Licking Its Wounds
Focus on core markets. Cost-cutting and liquidity. Disappointing growth prospects.
Don't Get Ambushed By The FANG/FANMAG Factor
ETFs are supposed to be top-down portfolios oriented toward an asset class, a region, a line of business or a general combination of these. Holders of ETF share
This year ‘a write-off’ for Irish banks – Davy
This year will be “a write-off” for Irish banks, with each of the main Irish financial institutions loss-making, according to a report from Davy Stockbrokers.
Hammerson boss quits weeks after group loses €449m deal
The boss of Dundrum Town Centre co-owner Hammerson has announced plans to step down weeks after a £400m (€449m) deal to sell several sites fell through.
Visa completes Request to Pay pilot trials
Visa has facilitated the first request to pay message sent and received using standards developed by Pay.UK.
Robinsons squash buoys Britvic as sales hit by pub closures
Sales of child-friendly brand Fruit Shoot were affected by the lockdown, the company said, as people stayed at home.
Lengthy housing recovery
Canada Mortgage and Housing Corp. says it expects home prices and sales to decline substantially this year and still won't have recovered by the end of 2022.
The right economic response to the COVID-19 crisis
Extraordinary measures are needed.
The end of Europe's Chinese dream
Three developments have led the EU to abandon its goal of closer economic ties.
Rupee settles 5 paise lower at 75.71 against US dollar
The rupee depreciated 5 paise to settle at 75.71 (provisional) against the US dollar on Wednesday, as market participants were concerned about rising tensions between the US and China amid coronavirus
Toronto Star owner Torstar to be sold, taken private in $52- million deal
TORONTO — Five families that built and grew media conglomerate Torstar Corp. have agreed to hand the newspapers they presided over for roughly 70 years to a Canadian investment firm that plans to take the company private.
EU proposing €750bn recovery fund in response to pandemic crisis
Paolo Gentiloni’s announcement came amid divisions in the bloc.
Euro economy facing recession as bad as worst forecasts – ECB president
Christine Lagarde says estimates for milder slump ‘out of date’
Coronavirus: What is involved in the EU’s recovery plan?
Q&A: What are the main stumbling blocks, and how will the plan affect Ireland?
EU to propose €750bn Covid recovery package for states
Ireland in line for grants of €1.9 billion in package weighted by how badly economies have been hit
What is in the EU’s €750bn recovery plan and how will it affect Ireland?
Q&A: What are the main stumbling blocks, and how will the plan affect Ireland?
Global stocks are mixed after Trump promised ‘interesting’ action against China, while Europe awaits a huge new stimulus package
Global stocks were mixed Wednesday after US President Trump promised “interesting” action on China’s proposed crackdown on Hong Kong by the end of the week, and as European investors wait anxiously for the announcement of a new stimulus package from the European Commission.
China to increase international flights if virus under control: regulator
BEIJING (Reuters) - China’s aviation authority will consider increasing international flights as long as imported coronavirus risks are under control, state media China News reported on Wednesday, citing the agency’s deputy director, Li Jian.
Cricket: After reports suggesting T20 World Cup in Australia set to be postponed to 2021, ICC denies
The ICC Board is also likely to discuss the issue of tax exemption for the 2021 World T20 in India as BCCI has sought more time.
Third Iranian Tanker Arrives in Venezuela Under Escort of Bolivarian Navy – Photos
The tanker is one of five Venezuela-bound Iranian vessels making their way to the Latin American nation to ease a gasoline shortage caused by crippling US sanctions.
EU to unveil massive stimulus plan for post-coronavirus recovery
To help member states recover from coronavirus slump.
Sun Pharma FY20 results: Profit rises 41% to Rs 3,765 crore, sales up 13%
For the fourth quarter ended March 31, 2020 (Q4 FY20), Sun Pharma posted a 37 per cent YoY decline in consolidated profit at Rs 399.8 crore due to one-time loss of Rs 260.6 crore
NHAI offers 'COVID loan' to private operators at 2% more than bank rate
The NHAI will disburse 'COVID-19 loan' within 60 days of receiving a valid request from the concessionaire. The loans will be granted only to those parties who are not in default of contractual obligations as on February 19, 2020
Metal stocks continue to climb up amidst a volatile market; top stock picks leading brokerage firms
For a second-day straight, metal stocks on the bourses were seen surging higher despite the volatility being faced by the benchmark indices.
VMLY&R India wins the digital mandate for Colgate-Palmolive
The agency will encompass digital campaign planning, creative thinking, as well as social listening
Icra expects moderate participation in spectrum auctions up to Rs 60,000 cr
The Centre has budgeted Rs 1.33 trillion as non-tax receipts from the telecom sector for FY2021
BCCI confident ICC won't commit harakiri by taking away 2021 T20 World Cup
The BCCI was needed to throw light on the tax exemption issue 18 months before the 2021 T20 World Cup which meant the deadline was April
NCLT approves IL&FS stake sale in GIFT City to Gujarat govt
That sale consideration payable to IL&FS excluding resolution process costs shall be credited into a designated escrow account intimated to the infrastructure lending group
Rally in financials, F&O expiry: Here's why Sensex rallied 996 points today
NSE's Nifty50 index ended at 9,315, up 286 points or 3 per cent.
Rupee slips 8 paise to 75.74 against US dollar in early trade
The rupee depreciated 8 paise to 75.74 against the US dollar in opening trade on Wednesday as market participants were concerned about rising tensions between Washington and Beijing in the wake of
Kuwait's stocks reclaim some lost ground
But it will take a lot to head back after billions got wiped out in COVID-19 panic
Apple reopens doors to nearly 100 US stores
Apple plans to reopen around 100 of its stores in the US by the end ...
Open banking investment higher in the UK than any other European country
Consumers will be able to enjoy greater freedom when using financial products following reforms and growing investment.
Government furlough scheme now covers 8.4 million workers
At least 8.4 million workers are now covered by the government's furlough scheme, up from eight million a week earlier, the Treasury has confirmed. It comes as one million UK businesses have claimed £15 billion from the Government's Coronavirus Job Retention Scheme to cover workers' wages.
Why You Shouldn't Worry About Moderna's Recent Insider Selling
No foul, no harm with four of Moderna's top execs selling shares right after the biotech's big news last week.
5 Dividend Kings to Buy and Hold Forever
The "forever" part means investors have to think about the longevity of payout growth as well as reliable payments.
5 Investment Trends to Profit From a Post-Coronavirus World
A look at some investment themes relevant in the post-COVID-19 world.
Is Levi's Stock a Buy?
Stores are starting to reopen, and the stock is trading well off its recent highs.
State-owned Chinese company bids to build second UK nuclear plant
The company is blacklisted in the US and its application has created more headaches for UK PM Boris Johnson.
Administrators deny South African Airways set to start flying
JOHANNESBURG, May 27 (Reuters) - Administrators at South African Airways (SAA) said on Wednesday the state-owned airline was not preparing to resume domestic flights, rejecting a company statement from a day earlier and underlining conflicting visions of its future.
BMO reports Q2 profit down from year ago as provisions for credit losses rise
BMO Financial Group reported a second-quarter profit of $689 million, down from $1.5 billion a year ago, as it increased the amount set aside for bad loans due to the pandemic.
Nissan-Renault alliance to share more parts, technology
The auto alliance of Nissan and Renault said Wednesday it will be sharing more vehicle parts, technology and models to save costs as the industry struggles to survive the coronavirus pandemic.
Royal Bank Q2 profit cut to $1.48 billion compared with $3.23 billion a year ago
A massive increase in provisions for bad loans due to the COVID-19 pandemic resulted in Royal Bank of Canada reporting a 54 per cent decline in its second-quarter profit.
BMO, RBC Q2 profit down from a year ago as provisions for credit losses soar
Bank of Montreal and Royal Bank of Canada both revealed Wednesday that their second-quarter profits had fallen from a year ago amid surges in their provisions for credit losses -- money set aside to account for unpaid or 'bad' loans.
Virgin Galactic Stock Will Reach $30 Again, but the Timeline Is Cloudy
Investors should expect a slow build in SPCE stock with an eye towards an eventual doubling of the share price.
Don’t Be One of Those People Betting on a Chesapeake Stock Rebound
Speculators are betting there's something for them in Chesapeake's efforts to restructure its debt and keep operating, but CHK stock is dead.
3 Stocks to Buy After You Take Profits on Wayfair Stock
Wayfair stock benefited from the novel coronavirus and is up big year to date. It’s time to consider other stocks.
South Africa marks milestone for emergency power procurement
DMRE has confirmed that South Africa's energy regulator is in agreement with a Ministerial determination for the procurement of 2,000MW of emergency power.
Future Retail to raise up to Rs 650 crore to reduce debt
The NCDs will be issued on private placement basis in one or more tranches, Future Retail said in a BSE filing.
States should come forward with Rs 20 lakh crore to battle COVID-19 disruptions: Nitin Gadkari
He further noted that work on national highways has been started on war-footing and the government plans to build highways worth Rs 15 lakh crore in the next two years.
Stalin demands new TN budget for 2020-21 in view of pandemic
DMK president M.K. Stalin on Wednesday urged Chief Minister Edappadi K. Palaniswami to present a new budget for 2020-21 in view of the crisis caused to the financial health of the state by the COVID-1
Kerala launches BevQ app to sell liquor
ERNAKULAM: A man trekked through the rolling hills of Kerala’s Wayanad some days ago to buy alcohol in a border … Kerala launches BevQ app to sell liquor Read More »
Japan approves fresh $1.1-trillion stimulus to combat economic impact of coronavirus
The record stimulus of 117 trillion yen, which will be funded partly by a second extra budget, followed another 117 trillion yen package rolled out last month
Coronavirus pushes number of S&P credit-downgrade warnings to all-time high
A total of 1,287 of S&P’s ratings are now on a downgrade warning – either with ‘negative outlooks’ where a move might take two years, or on ‘CreditWatch with negative implications’ where the risk is almost immediate
RBC profit falls 54% as loan-loss provisions spike amid COVID-19 pandemic
Canada’s biggest bank set aside $2.83-billion in provisions for credit losses, up 558 per cent from $426-million a year ago
Bank of New York Mellon Corp Has $28.14 Million Stake in Twist Bioscience Corp (NASDAQ:TWST)
Bank of New York Mellon Corp raised its holdings in Twist Bioscience Corp (NASDAQ:TWST) by 1,085.9% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 920,144 shares of the company’s stock after acquiring an additional 842,556 shares during the period. Bank of New York Mellon Corp’s holdings in Twist Bioscience were worth $28,139,000 as […]
AMN Healthcare Services, Inc. (NYSE:AMN) Shares Sold by PNC Financial Services Group Inc.
PNC Financial Services Group Inc. cut its stake in shares of AMN Healthcare Services, Inc. (NYSE:AMN) by 6.3% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 38,629 shares of the company’s stock after selling 2,617 shares during the period. PNC Financial Services Group Inc. owned about 0.08% […]
Russell Investments Group Ltd. Sells 9,634 Shares of First Industrial Realty Trust, Inc. (NYSE:FR)
Russell Investments Group Ltd. cut its stake in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 7.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 126,555 shares of the real estate investment trust’s stock after selling 9,634 shares during the quarter. Russell Investments […]
ETRADE Capital Management LLC Boosts Stake in Heico Corp (NYSE:HEI)
ETRADE Capital Management LLC boosted its holdings in Heico Corp (NYSE:HEI) by 19.2% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 4,020 shares of the aerospace company’s stock after buying an additional 647 shares during the period. ETRADE Capital Management LLC’s holdings in Heico were worth […]
Etsy Inc (NASDAQ:ETSY) Shares Sold by Swiss National Bank
Swiss National Bank lessened its holdings in Etsy Inc (NASDAQ:ETSY) by 0.3% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 229,800 shares of the specialty retailer’s stock after selling 800 shares during the period. Swiss National Bank’s holdings in Etsy were worth $8,834,000 as of its most recent filing with the Securities […]
Five9 Inc (NASDAQ:FIVN) Shares Purchased by Swiss National Bank
Swiss National Bank boosted its holdings in Five9 Inc (NASDAQ:FIVN) by 2.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 118,500 shares of the software maker’s stock after acquiring an additional 2,400 shares during the quarter. Swiss National Bank owned […]
Rhumbline Advisers Purchases 7,594 Shares of Meritage Homes Corp (NYSE:MTH)
Rhumbline Advisers lifted its position in shares of Meritage Homes Corp (NYSE:MTH) by 6.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 134,215 shares of the construction company’s stock after purchasing an additional 7,594 shares during the period. Rhumbline Advisers owned […]
Russell Investments Group Ltd. Sells 40,321 Shares of AMN Healthcare Services, Inc. (NYSE:AMN)
Russell Investments Group Ltd. reduced its holdings in AMN Healthcare Services, Inc. (NYSE:AMN) by 36.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 69,520 shares of the company’s stock after selling 40,321 shares during the period. Russell Investments Group Ltd. owned approximately 0.15% […]
Swiss National Bank Acquires 2,800 Shares of Aecom (NYSE:ACM)
Swiss National Bank raised its holdings in shares of Aecom (NYSE:ACM) by 0.9% in the first quarter, HoldingsChannel.com reports. The firm owned 304,680 shares of the construction company’s stock after buying an additional 2,800 shares during the period. Swiss National Bank’s holdings in Aecom were worth $9,095,000 as of its most recent SEC filing. A […]
Russell Investments Group Ltd. Purchases 14,252 Shares of SPS Commerce, Inc. (NASDAQ:SPSC)
Russell Investments Group Ltd. boosted its position in SPS Commerce, Inc. (NASDAQ:SPSC) by 18.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 90,380 shares of the software maker’s stock after purchasing an additional 14,252 shares during the period. Russell Investments […]
Preparations in Full Swing as West Bengal to Resume Domestic Flight Operations From Tomorrow
Starting from May 28, the Kolkata and Bagdogra airports will each handle 10 arrivals and 10 departures per day.
A Historically Accurate WMA Indicator Suggests Bitcoin is at Risk of a 50% Pullback
A historically accurate technical indicator is warning about a 50 percent bitcoin price crash in the coming months.
EU's financial 'firepower' is 1.85 trillion with 750bn for COVID fund
Of the 750 billion euro recovery fund, the 500 billion euros would be given to EU countries as grants, the remaining 250 billion euros would be available as loans."
McDonald’s to reopen more than 1,000 restaurants by next week
The chain said it closed some drive-thru lanes last week after soaring demand impacted local communities or staff and customer safety.
One million businesses claim £15bn from Government furlough scheme
HMRC said more than £6.8bn has been claimed via 2.3 million applications from those who are self-employed and unable to work.
Crypto.com Expands Card To 31 Countries
i2c Inc. has unveiled a partnership to power the expansion of Crypto.com's crypto ecosystem, which consists of a Visa crypto debit card and a wallet app.
Report: AfDB succumbs to US’ demand, agrees to independent probe of Adesina
This comes after US treasury secretary rejected the report of the bank's ethics board which absolved Adesina of allegations of favouritism.
Export of Irish beef to China temporarily suspended
The Department of Agriculture has confirmed that the export of Irish beef to China has been suspended temporarily after a 14-year-old cow tested positive for 'Atypical BSE'.
Metal stocks to benefit in a big way if China announces another stimulus: Ajay Bagga
‘Tractors and two wheelers will continue to do well as rural economy is in robust health
Tech View: Nifty close above 20-DMA may be signalling new leg of upswing
Nifty may face resistance at 9,500 level and have support near 9,250, said analysts.
China to roll out eleven measures to deepen financial reforms
The measures would include accelerating capital replenishment of small and medium-sized banks, further opening up the credit rating sector, promoting the steady development of the "panda bond" market, and stepping up crackdown on financial irregularities.
Coronavirus pushes global credit rating downgrade threat to record high
A total of 1,287 of S&P's ratings are now on a downgrade warning.
Virus sparks record drop in energy investment: IEA
The Paris-based International Energy Agency (IEA) estimated the plunge will be of the order of one-fifth from 2019 levels, or almost $400 billion.
The rise of digital taxes during a pandemic
This measure could also become a new source of state revenue during the enormous tax relaxation given by the government to business sectors affected by the COVID-19 pandemic.
Tokocrypto 2.0 powered by Binance Cloud
Tokocrypto has launched Tokocrypto 2.0, an upgraded cryptocurrency exchange powered by Binance Cloud.
Greggs is reopening branches next month after successful trials
Greggs fans will once again be able to get their breakfast or pasty fix
Sebi again extends deadline to apply for 147 senior-level vacancies amid Covid-19
Markets regulator Sebi has again extended the deadline to apply for the post of 147 senior-level executives by two months till July 31 in the wake of coronavirus pandemic.
10 things you need to know before the opening bell
Here’s what you need to know before the markets open.
The EU plans a record-breaking new stimulus package of $826 billion to soothe Europe’s economic pain from the coronavirus
The European Commission unveiled a planned deployment of 750 billion euros ($826 billion) on Wednesday as part of its new long-term budget and recovery plan to help fight the impact of the coronavirus on the continent’s economy.
10 things you need to know before the opening bell
Here’s what you need to know before the markets open.
Why U.S. energy CEOs will get big payouts despite oil meltdown
BOSTON/NEW YORK (Reuters) - National Oilwell Varco Inc (NOV) has had a rough few years: Since 2017, the Houston company, whose drilling equipment is in major oilfields worldwide, has lost two-thirds of its value, costing shareholders a combined $9 billion.
Factbox: Key spending in Japan's second stimulus package of $1.1 trillion
TOKYO (Reuters) - Japan’s cabinet approved on Wednesday a fresh stimulus package worth $1.1 trillion, among the world’s largest fiscal plans to cushion the economic blow from the coronavirus pandemic.
Japan approves fresh $1.1 trillion stimulus to combat pandemic pain
TOKYO (Reuters) - Japanese Prime Minister Shinzo Abe’s cabinet approved on Wednesday a new $1.1 trillion stimulus package that includes significant direct spending, to stop the coronavirus pandemic pushing the world’s third-largest economy deeper into recession.
Coronavirus pushes global credit rating downgrade threat to record high
LONDON (Reuters) - The number of companies or countries at risk of having their credit ratings cut has been pushed to an all-time high by the coronavirus pandemic, S&P Global analysis shows.
Top investor in Italy's Nexi cuts stake as M&A looms
MILAN (Reuters) - The top investor in Nexi has sold 8.8% of the Italian payments group, cutting its holding in a move seen by investors as easing the way for a long-awaited potential merger with rival SIA.
Dynamic Coin Offering (DCO) Promises Investor-Friendly Token Crowdfunding Mechanism
The days of the old and risky crowdfunding mechanisms in the cryptocurrency industry, including ICO, STO, and IEO, could be numbered. The secure DYCO (Dynamic Coin Offering) framework promises to safeguard retail investors from the inefficiencies of the yesteryear crowdfunding mechanisms.
Dynamic Coin Offering (DYCO) Promises Investor-Friendly Token Crowdfunding Mechanism
The days of the old and risky crowdfunding mechanisms in the cryptocurrency industry, including ICO, STO, and IEO, could be numbered. The secure DYCO (Dynamic Coin Offering) framework promises to safeguard retail investors from the inefficiencies of the yesteryear crowdfunding mechanisms.
Las Vegas casino reopening ‘major milestone’ for city, industry
While not all properties in the state will take advantage of the initial opening date, several operators said they’re excited to open their doors to guests.
BitGo Launches Crypto Brokerage for Institutions
BitGo, a crypto financial services platform, has announced the launch of its prime brokerage platform, offering digital asset trading services to its institutional clients.
Central Bank of Russia Cancels Banking Licence of Morgan Stanley
The Central Bank of the Russian Federation has issued an order this Wednesday revoking the banking licence of Morgan Stanley Bank LLC, effective today.
Natixis IM Makes Strategic Investment in UK Savings Fintech
Smart, a UK-based savings technology company, has announced on Tuesday that it received a strategic investment from Natixis Investment Managers, a French investment bank.
Toronto Star owner Torstar to be sold, taken private in deal worth $51-million
The move comes as the country’s top media executives meet with the federal government in Ottawa to discuss the industry’s plight
Australian construction work fell in Q1
The ABS has released data on the value of construction work done for the March quarter of 2020, which registered another 1.0% seasonally-adjusted decline in total construction activity over the quarter – the seventh consecutive quarterly decline – and a 6.5% decrease over the year:
Business, unions decide reform is too hard
Big news: nothing will happen! At New Daily:
Amazon in talks to buy driverless car start-up Zoox
Acquisition would be first by ecommerce group of an autonomous vehicle company
Japan eyes fresh $1.1 trillion stimulus to combat pandemic pain
Japan will compile a fresh stimulus package worth $1.1 trillion that will include a sizable amount of direct spending to cushion the economic blow from the coronavirus pandemic, a draft of the budget obtained by Reuters showed on Wednesday. The stimulus, which will be funded partly by a second extra
EnergyWare, LLC Extends Thanks to Its Customers
SUNRISE, Fla., May 26, 2020 /PRNewswire/ -- While the country is responding to the coronavirus pandemic, and close to 30 million Americans have fi...
NordStar Capital to Acquire Torstar
NordStar has secured approval from Torstar's Board of Directors and the support of a significant majority of Torstar's Voting Trust and its larges...
China’s Meal Delivery Service Meituan Now Valued At $100B
Hong Kong's Meituan, a food delivery service, has hit a valuation of $100 billion, making it only the third Chinese firm to achieve that high of a value.
EU proposes €750 billion coronavirus recovery fund
The European Commission has proposed a recovery fund of €750 billion, which it says is designed to repair the economic damage caused by the coronavirus pandemic.
EU to unveil massive stimulus plan for post-coronavirus recovery
The aim is to help countries and sectors worst hit by the COVID-19 pandemic recover quickly and protect the EU single market of 450 million people from being splintered by divergent economic growth and wealth levels as the 27-nation bloc emerges from its deepest ever recession expected this year.
Latest rate cut is adding to record corporate bond sales
Policy steps to channel more funds to smaller borrowers have struggled to gain traction.
Mega lockdown puts India’s animal spirits to sleep in April
The numbers offered the first glimpse of the devastating hit to the economy.
Ola Financial gets Rs 205 crore from Falcon Edge, Matrix Partners
Apoletto Managers, the and Arun Sarin's family office also participated in the round. This deal closed at a valuation of $250 million, according to two people directly aware of the matter.
Hong Kong's future as China's gateway to the West is under threat
China plans to enact new security laws for Hong Kong this week, despite threats from the US that could wreck Hong Kong's status as a global financial and trade centre.
[Monitor] Air transport hit hardest by pandemic
The production performance of many Korean companies was found to have deteriorated in the first quarter this year due to the global economic downturn and the impact of the pandemic, latest data showed Wednesday. Local corporate tracker CEOScore surveyed 127 companies, which submitted quarterly reports and disclosed their production capacity and performance, among the nation’s top 500 companies. According to...
Amtrak set to cut up to 20% of workforce by October
Amtrak is preparing to cut up to 20% of its workforce in the next fiscal year as the national railroad continues to suffer from a huge decline in ridership...
Modi govt denying people benefit of low oil prices; no other nation doing so: Moily
When nations around the world have passed on the benefit of plunging oil prices to consumers, the Modi government has irrationally kept petrol and diesel prices at levels prevalent when crude prices had touched an all-time high of USD 107 few years back, former petroleum minister M Veerappa Moily said Tuesday.
Govt drops plan of suspending banknotes’ varnishing
SBP gave proposal on fear of machinery breakdown during pandemic
Sugar price remains at high levels
Sweetener costs more despite ongoing cane harvesting, sugar production season
Coronavirus impact: Indian economy to contract 5% in FY21, says Fitch Ratings
Fitch expects output in emerging markets, excluding China, to fall by 4.5 per cent this year compared to a predicted fall of 1.9 per cent before
Asian markets in retreat as China-US tensions return to fore
Markets are concerned about another flare-up in Hong Kong on a controversial security law
COVID-19 response: DIFC to gradually reopen businesses from Wednesday
Offices and retail outlets will operate with certain restrictions and health protocols
National's new agriculture spokesperson David Bennett accuses Government of using farmers to just 'pay the bills'
David Bennett took over the position of spokesperson after Todd Muller became the party's new leader.
Players call MLB economic proposal 'extremely disappointing'
Baseball stars Mike Trout and Gerrit Cole would lose more than 77 per cent of their salaries under a sliding-scale proposal by big league teams that players found 'extremely disappointing.'
10 Stocks to Buy as They Ride a Coronavirus Tailwind
These names are either heavily discounted or are actually riding high on the outbreak.
Japan eyes fresh $1.1 trillion stimulus to combat pandemic pain
To fund the costs, Japan will issue an additional 31.9 trillion yen in government bonds under the second supplementary budget for the current fiscal year ending in March 2021, according to the draft.
Experience with GST holds valuable lessons for One Nation One Ration Card
If done well, One Nation, One Ration Card, could lay the foundation of a truly national and portable benefits system that includes other welfare programmes like LPG subsidy and social pensions.
No-touch new car buyers drive towards Let's Haggle
An online business backed by a Sydney investment banker is seeing some tentative signs of life in a new car market hit hard by COVID-19.
Checkout.com buys Perth-based Pin Payments
Another global online payments firm has entered Australia to challenge big bank relationships with retailers in the post COVID-19 economy.
Pratt: tap super to fuel a manufacturing recovery
Corporate leaders including the Visy boss say exploiting competitive advantages is the key to reviving manufacturing that could lead Australia out of the coronavirus downturn.
Distressed real estate market beckons opportunistic buyers
Blackstone Group, Kayne Anderson Capital Advisors and other investment firms are sitting on roughly $US300 billion of equity ready for deployment in the US market.
India could lose 2021 T20 World Cup hosting rights as BCCI fails to secure tax exemption
The 2021 T20 World Cup is scheduled to be held in India between October-November as the official replacement for the ICC Champions Trophy next year.
USD/INR Price Analysis: Indian Rupee consolidating in a narrowing price range
USD/INR fell by 0.38% on Tuesday, keeping intact a four-week-long narrowing price range represented by trendlines connecting April 30 and May 12 lows
EUR/USD put bias weakest in over two months, risk reversals show
One-month EUR/USD risk reversals (EUR1MRR), a gauge of calls to puts on the single currency, jumped to -0.125 on Tuesday. A negative print implies tha
China expands scope of Hong Kong security legislation – Reuters
Citing the stories from the Chinese media outlets, RTHK and the South China Morning Post (SCMP) on Wednesday, Reuters reports that Beijing has widened
ECB’s Schnabel: Not adjusting monetary policy in any way in response to German court ruling
In an interview with the Financial Times (FT), Isabel Schnabel, Member of the Executive Board at European Central Bank (ECB), said dismissed the impli
Virtual Courts: A new normal
“The legal system as a whole has to adapt and re-engineer itself, technologically, to face challenges of the times. India has complex problems and
Coronavirus lockdown: Kerala to open liquor shops from tomorrow
The Kerala government has lauched the BevQ mobile app for virtual queue management of the liquor sale.
Fed's Williams: May or June could be low point for economy
There is a lot of uncertainty about how the economy will evolve but there could be a significant rebound in the second half of 2020, New York Federal
Wall Street opens mixed, falling tech shares weigh on Nasdaq
Following Tuesday's impressive rally, Wall Street's main indexes started the day on a mixed tone on Wednesday. As of writing, the Dow Jones Industrial
Moderately higher inflation in response to bigger debt levels – UBS
The world will emerge from COVID with considerably higher levels of debt while will be left structurally less global by the crisis, spurring on the de
A particular opportunity in Chinese stocks – UBS
Economists at UBS forecast a U-shaped recovery and expect Chinese equities to outperform developed markets. Key quotes “In our central scenario, we se
Gold Price News and Forecast: XAU/USD at $1,700 again [Video]
With broad risk appetite turning positive in recent sessions, we have seen gold slipping lower. The positive near term outlook been gradually replaced
EUR/USD Price Analysis: Bulls await a sustained move beyond 200-day SMA
The EUR/USD pair rallied nearly 100 pips from an intraday low level of 1.0934 and jumped to the highest level since early April. Bulls, however, strug
Germany's Scholz: Very likely that we will get an agreement on EU recovery plan
Commenting on the European Commission's proposed recovery plan, German Finance Minister Olaf Scholz said that the proposals build on what France and G
Researchers develop rapid electro-optical test to identify COVID-19 carriers
Ben-Gurion University of the Negev's Prof. Gabby Sarusi has developed a one-minute electro-optical test of nose, throat, or breath samples that will identify both asymptomatic and affected carriers of the COVID-19 virus in under one minute with greater than 90% accuracy.
Challenger insurers are doing better than banks during COVID-19
In recent weeks, the coronavirus pandemic has become a catalyst for digital solutions. One area where growth has been strongest is with challenger insurance startups, who are disrupting the traditional insurance market.
BCCI confident ICC won't commit harakiri by taking away 2021 T20 World Cup
The BCCI was needed to throw light on the tax exemption issue 18 months before the 2021 T20 World Cup which meant the deadline was April.
Reliance Industries Rights Entitlement shares jump 11% on Day 5 on high volumes
With just two more trading sessions to go, the de-materialised trading of Reliance Industries Ltd - Rights Entitlement (RIL-RE) on Wednesday closed with a 11 percent gain over the previous day
Motorsport UK aims to resume racing activities from 4 July without spectators
Motorsport UK suspended all its events throughout the country from March to the end of June due to the COVID-19 pandemic.
COVID-19 impact: Supercar group McLaren to cut 1,200 jobs across group; cancellation of motorsport events hurt revenue
McLaren are the second most successful team after Ferrari in the sport’s history and gave Mercedes’ six-times world champion Lewis Hamilton his debut in 2007.
Cruise stocks soar 10% as reopening optimism lifts virus-slammed industries, Business Insider - Business Insider Singapore
Business Insider - Cruise companies were among the hardest hit by the pandemic, as infamous vessel outbreaks led analysts to fear a prolonged downturn for the sector.. Read more at businessinsider.sg
UTB to market Uganda as safest destination after COVID-19
Kampala, Uganda | THE INDEPENDENT | The Uganda Tourism Board (UTB) has unveiled plans to aggressively market Uganda as the safest destination to visit after the COVID-19 but also re-brand destination Uganda. UTB Chief Executive Officer Lilly Ajarova said that the COVID-19 pandemic has put the world tourism sector back to the same level and …
Bill to regulate mobile money transactions gets committee nod
Kampala, Uganda | THE INDEPENDENT | The Finance Committee of Parliament has approved a bill which seeks to provide for supervision and oversight of mobile money transactions. Currently, Uganda does not have a comprehensive payment system law. As a result, there is limited regulation and oversight of payment systems and inadequate protection of payment and …
Torstar shares climb after privatization deal with NordStar Capital
TORONTO — Shares of Torstar Corp. jumped more than 50 per cent in early trading after the media giant struck a $52-million deal to be bought by a firm operated by two Canadian businessmen.
‘We are experiencing unprecedented shifts in consumer attitudes’
Facebook India-BCG report reveals steps businesses can take in the new normal
Medical masks, gloves, PPE makers pitch for resumption of exports
Exporters want to attract buyers from US, Europe who are moving away from China
BMS to seek Opposition MPs’ help against Centre’s move on labour laws
Five key points including plight of migrant workers, unfair labour laws to be brought up
Hawke’s Bay Regional Council Plans A Climate Smart Economic Recovery
Hawke’s Bay’s Regional Council is focussed on stimulating a climate smart recovery to address the economic challenges facing the region from both COVID-19 and the drought.
Australian Custom Tailoring Start-up InStitchu Expands Into Women’s Wear
The company anticipates its custom-tailored women's wear offer could account for 30 to 50 percent of its business within 12 to 18 months.
Online booze orders flying in ahead of move to lockdown level 3
South Africans rush to place alcohol orders online
Gambling craze invades Zimbabwe
Gambling has conventionally always been frowned upon as a social vice and vanity. Where it occurred, it was limited to the state lottery, horse betting, pink lo...
Administrators deny South African Airways set to start flying
South African Airways (SAA) aims to resume domestic flights between Johannesburg and Cape Town from mid-June as lockdown restrictions aimed at ...
Commentary: China's tensions could boost Hong Kong's stock exchange
HKEX’s next chief will have to manage a tricky relationship with Beijing, says the Financial Times’ Henny Sender.
Drugmaker Sanofi to raise over US$11 billion via sale of Regeneron shares
Sanofi will raise over US$11 billion from the sale of 21.6 million shares in its U.S. partner Regeneron, the French drugmaker said on Wednesday, ...
International Flavors & Fragrances: Growth On Pause Due To Pandemic
In Q1, IFF delivered low-single-digit revenue growth despite the double-digit contraction in a few product categories. The company's cash from operations and FC
Arbor Realty Trust: Undervalued
Q1 earnings were released on May 8, 2020, with the company posting solid figures. The company's performance seems set to improve in Q2 based on current trends.
Upwork: Must Grow Faster
After slowing down in the second half of 2019, Upwork reaccelerated its growth in Q1 2020. Marketplace revenue made up 90% of the business and grew by 24% YoY.
Bank of Montreal (BMO) CEO Darryl White on Q2 2020 Results - Earnings Call Transcript
Bank of Montreal (NYSE:BMO) Q2 2020 Earnings Conference Call May 27, 2020, 07:15 ET Company Participants Jill Homenuk - Head, IR Darryl White - CEO & Direct
Pure Gold Mining: A Look At The Valuation After This Advance
Pure Gold Mining is one of the top-performing gold juniors with a more than 50% return year to date. The company is more than fully-funded to complete construct
PICK Is The Pick Of The Litter For Inflationary Times
The ETF holds the cream of the crop. If 2008-2011 is a model, PICK will perform. Early 2016 through early 2018 shows the potential. Diversify risk with PICK. In
Chico's FAS: Too Early To Invest In This Turnaround
Chico's FAS's financials have been in bad shape for several years. The company has several foundational problems that make its future survival challenging. A ne
HEICO Beats Again, But Caution Is Warranted
HEICO has beat EPS and revenue estimates for the 10th consecutive quarter despite a slowdown in commercial aircraft orders. This is good news, but Q3 and Q4 wil
Tesla price target raised over Fremont’s reopening, strong Model 3 demand in China
Tesla (NASDAQ: TSLA) received a higher price target from Dan Ives of Wedbush Securities on Wednesday morning, with the analyst putting his estimates at $800 a share. His previous mark was roughly a third less than his updated price target. Ives’ increase in the price target for TSLA stock is based on his opinion that […]
Dairy remains ‘resilient’ due to business model
JERSEY’S dairy industry is ready to bounce back after the Covid-19 crisis and continues to be ‘resilient’ due to its mix of local and export markets, an industry spokesman has said.
Trigon Metals acquires copper-silver project in Morocco
Trigon Metals is set to acquire a 100% equity interest in Technomine Africa. Technomine owns a 100% interest in the Silver Hill Project in Morocco.
Economic Update: Fitch Ratings cuts GDP forecasts again – McKinsey see opportunities for a greener recovery
27 May Fitch Ratings has made further cuts to world GDP forecasts in its latest Global Economic Outlook (GEO). Brian...Read More...
Australian Dollar Hit by News China will Now Target Aussie Coal Exports
The Australian Dollar turned sharply lower against the Pound, Euro and U.S. Dollar as well as the majority of its G10 peers amidst signs China was looking to ramp up economic pressure on Australia
India's GDP growth may rebound to 5% in FY22: Former RBI chief Subbarao
Rating agency Crisil on Tuesday had said the Indian economy may shrink by 5% in fiscal 2021, adding this recession could be the country's fourth since Independence and perhaps the worst to date
Relief distributed to airport workers
TIRUCHI About 100 labourers, including trolley retrievers, canteen and other contract employees, working at the Tiruchi International Airport were given essential commodities worth ₹1,000 each in view
Property tax hike issue to betaken up in Cabinet meeting
Minister in-charge of Dharwad district Jagadish Shettar has promised to take up the property tax hike issue in the next Cabinet meeting and discuss the matter with the Urban Development Minister. Addr
How passenger numbers collapsed at Stansted Airport in lockdown
Passenger numbers at Stansted Airport collapsed by more than 99 per cent in the first full month of the lockdown, new figures reveal.
Ingenia puts funding boost to work
The owner of affordable housing communities buys two assets, and expects its holiday parks to get a boost as restrictions lift.
Investors sell up as rental stress rises
Rental stress rose in most cities despite the JobSeeker and JobKeeper grants, prompting investors to consider selling up.
RBA governor expected to be more upbeat
Reserve Bank governor Philip Lowe has been talking up the economy and mentioned the word "confidence" in his last public appearance no less than seven times.
Geopolitical time bomb ticks under market rally
Rising geopolitical tensions, especially between the US and China, could test the muscular global rally and hopes for a V-shaped economic recovery.
NSW to kick-start renewable energy investment
NSW has called on business to pitch for its $4.4 billion renewable energy zone to kick-start investment amid a slowdown in new wind and solar commitments.
Australian businesses in China urge focus on 'common ground'
While openly confident about trade between the two countries, executives on the ground in China privately fear action beef and barley shipments could be just the beginning.
Detroit to Get Mask Factory With Investment From Bangladesh
Bangladesh’s Beximco Group will set up a plant in Detroit to make masks as demand for protective gear in the U.S., the nation with the most coronavirus cases, surges.
TN inks mega investment pacts worth Rs 15,000 crore
Tamilnadu today signed MoUs with multiple companies which are keen to invest in the State. Continue Reading →
Energy giant SSE sets out a greenprint for clean recovery
Perth based energy giant SSE has called on the UK Government to greenlight billions of pounds of private investment in low carbon infrastructure to help the economy rebound from the impact of the coronavirus pandemic.
USD/CNH faces further upside pressure – UOB
FX Strategists at UOB Group expect USD/CNH to edge higher in the near term. Key Quotes 24-hour view: “USD traded between 7.1355 and 7.1491 yesterday,
EUR/USD: A close above the 200-day ma at 1.1012 to fuel upside potential – Commerzbank
EUR/USD has rallied higher and attention has reverted to the 200-day ma and its current May high at 1.1012/19, as Commerzbank’s Karen Jones notes. OCB
The reluctance of the Germans and the Dutch to the eurozone investment fund is incomprehensible – Natixis
A large European investment fund would help to bridge the gap in public and corporate investment in many euro-zone countries, finance the energy trans
EUR/USD: The 1.1012 200-day ma to cap advances – OCBC
The EUR/USD may be headline-driven, as the Franco-German virus recovery plan is tabled for discussion today. Terence Wu, an FX strategist at OCBC Bank
USD/JPY on the defensive around mid-107.00s, below 50-DMA
The USD/JPY pair extended its sideways consolidative price action on Wednesday and remained confined in a narrow trading band around mid-107.00s. The
AUD/USD trades with modest losses, just below mid-0.6600s
The AUD/USD pair edged lower on Wednesday and retreated further below mid-0.6600s, eroding a part of the previous day's strong positive move to 2-1/2-
US Dollar Index treading water above 99.00
The US Dollar Index (DXY), which gauges the buck vs. a bundle of its main competitors, has managed to bounce off recent lows in sub-99.00 levels and r
GBP/USD: Supported but with no room to rise – OCBC
The GBP got a leg higher as BoE’s Haldane provided support for the pound after saying a rate cut to negative is not imminent, forcing the market cut b
China’s Foreign Ministry: Will take necessary countermeasures to foreign interference
China’s Foreign Ministry: Will take necessary countermeasures to foreign interference more to come ....
Economists: UK economy to face 5% annual deficit by 2024 – FT
According to calculations based on forecasts by independent economists, UK is likely to incur an annual deficit of 5% national income by the time of t
JP Morgan's chief economist optimistic about Taiwan's growth
Global investment bank forecasts Taiwan will have better financial rebound than most of world
$100 utilities credit to thank Singaporeans for staying home during circuit breaker
$100 utilities credit to thank Singaporeans for staying home during circuit breaker
Total Value Of Commercial Bank Loans In The US Jumped By $1trn Since January
American debt levels continue rising year after year, with a surge in the number of people using loans to pay anything from home renovation and medical expenses to vacations, scholarship, and credit card debts.
OECD GDP Falls By 1.8% In The First Quarter Of 2020
Following the introduction of COVID-19 containment measures across the world, real gross domestic product (GDP) in the OECD area fell by 1.8% in the first quarter of 2020, the largest drop since the 2.3% contraction in the first quarter of 2009 at the height of the financial crisis, according to provisional estimates.
Alibaba Records Only 9% Lower Profit Than Amazon But Trails By 4x In Revenue
Data gathered by Learnbonds.com shows that Chinese internet company Alibaba registered 9.3% lower profits compared to United States’ Amazon. The data further shows that there is a significant gap in revenues between the two companies by at least four times for the financial year ending March 31, 2020.
EcoCash court bid hits brickwall
The High Court has dismissed Econet Zimbabwe's mobile money platform, EcoCash's application which sought to interdict the Reserve Bank of Zimbabwe (RBZ) from su...
French economy to shrink by 20% in second quarter as recession deepens
France's economy is on course to contract 20% in the second quarter from the previous three months as the country emerges from a nationwide coronavirus lockdown, the INSEE official statistics agency…
Advance Auto Parts: Resilient 'DIY' Market Balanced By A Weaker Growth Outlook
Advance Auto Parts reported Q1 earnings highlighted by weak sales despite most stores remaining open as an essential business through the coronavirus pandemic.
When Is A Capital Gain Capital Consumption
There is an important difference between when the price of an asset rises due to an increase in value vs when it rises due to a drop in the interest rate. The d
Opportunities Emerge In Mid-Caps And Small-Caps - Weekly Market Notes May 26, 2020
All fifty states have now allowed some businesses to re-open and this has added fuel to the stock market rally last week. The market seems to be pricing in a qu
Hibernia ‘confident’ in the Dublin office market as it experiences ‘modest’ fall in rent collection
Kevin Nowlan, the chief executive of listed landlord and developer Hibernia Reit, said the company “remain confident” in the long-term prospects of central Dublin’s office and residential market.
ICC Board Meeting: World T20 to be postponed to 2022, October window for IPL
Cricket News: The postponement of this year's T20 World Cup in Australia to 2022, which might open up a window for the lucrative Indian Premier League in October, i
Halfords to reopen 53 stores to cope with cycling demand and car repairs
The high street retailer has been allowed to trade throughout lockdown, but chose to close stores to the public to protect staff.
BMO profits slide
BMO Financial Group reported a second-quarter profit of $689 million, down from $1.5 billion a year ago, as it increased the amount set aside for bad loans due to the pandemic.
Pound-to-Australian Dollar Downtrend Intact and Set to Endure as Support Comes Under Pressure
The British Pound's downtrend against the Australian Dollar looks set to remain in place for the foreseeable future says a note foreign exchange analysts
Pound Sterling advances against Euro and Dollar after EU Rows back on Fishing and Haldane Cools Negative Interest Rate Expectations
The British Pound advanced by over a percent against the U.S. Dollar and half a percent against the Euro as markets welcomed a bevvy of developments including rumours of progress on fishing in deadlocked EU-UK trade negotiations and a senior Bank of England policy maker quelled expectations for negative interest rates
South African Airways aims to resume domestic flights in mid-June
SAA, which is under a form of bankruptcy protection, suspended all commercial passenger flights in late March, when the government imposed one of the strictest lockdowns on the African continent.
Tether Continues Tear as its Daily Crypto Transactions Reach Record Levels
Controversial crypto stablecoin Tether continues at full speed ahead as recent data shows its daily transactions are the highest they have ever been.
Halfords to reopen 53 stores to cope with cycling demand and car repairs
The high street retailer has been allowed to trade throughout lockdown, but chose to close stores to the public to protect staff.
IMF advises banks to suspend dividend repayment, share buybacks
Kristalina Georgieva, IMF managing director, said the decision is necessary to help banks reinforce their capital buffers against the shocks
Interest on loans: SC issues notice to Centre, RBI
The Supreme Court Tuesday asked the Centre and the RBI to respond to a plea challenging levy of interest on loans during the moratorium period, which has
Panama to relax coronavirus measures in 2nd stage of re-opening
PANAMA CITY — The Panama government said on Tuesday that in June it will start to relax some measures imposed to curb the spread of the novel coronavirus, permitting sectors such as construction, nonmetallic mining and pharmaceuticals to resume operations.
Toronto Star owner Torstar to be sold, taken private in $52- million deal
TORONTO — Five families that built and grew media conglomerate Torstar Corp. have agreed to hand the newspapers they presided over for roughly 70 years to a Canadian investment firm that plans to take the company private.
US lawmaker wants insurers, govt to share future pandemic business losses
U.S. legislation introduced on Tuesday would create a taxpayer-backed insurance program to protect businesses from revenue losses during future ...
Vertex Energy's Transformation Continues
Vertex Energy began migrating its end-products toward higher-margin markets in 2018 - higher-purity base oils and IMO 2020-compliant marine fuel. The company re
Keysight Technologies, Inc. (KEYS) CEO Ron Nersesian on Q2 2020 Results - Earnings Call Transcript
Keysight Technologies, Inc. (NYSE:KEYS) Q2 2020 Earnings Conference Call May 26, 2020, 04:30 PM ET Company Participants Jason Kary - VP, Treasurer and IR Ron Ne
Fanhua Inc. (FANH) CEO Chunlin Wang on Q1 2020 Results - Earnings Call Transcript
Fanhua Inc. (NASDAQ:FANH) Q1 2020 Earnings Conference Call May 26, 2020, 09:00 PM ET Company Participants Oasis Qiu - IR Manager Chunlin Wang - Chairman & C
Path cleared for ICC elections, 2021 T20 World Cup 'likely' to remain in India
Cricket News: The members boards of the ICC came to a tacit understanding through a 2/3rd majority on Tuesday that incumbent chairman Shashank Manohar will not be a
Liquidation of companies still the most likely outcome under IBC
January-March quarter of fiscal 2019-20 was quite fruitful for banks in terms of stressed asset resolution and recovery under IBC, with lenders realising 64% of their dues
Smart Stamp Software Developer 12CM Partners South Korea’s Largest Search Engine Provider, Naver, to Launch Cloud-Powered Fintech Platform
12CM (pronounced One-two-cee-em), the “smart” stamp software platform provider and a member company of the Born2Global Center, has partnered with Naver Busi
Tencent, Parent Company of WeChat, to Invest $70 billion into Blockchain, AI, Cybersecurity & More in Pursuit of New Infrastructure
Tencent, a massive Chinese conglomerate that also operates WeChat, is planning to invest $70 billion over the next five years. The money will go into "new infr
German ECB executive shrugs off court ruling against bond buying
Isabel Schnabel says constitutional row ‘does not directly affect’ eurozone’s central bank
UK economy faces 5% annual deficit by 2024, say economists
Survey forecasts coronavirus undermining Britain’s public finances until next election
Experts seek review, sustainability measures as airports reopen Friday
Aviation stakeholders have urged the Federal Government to constitute a committee to review the aviation sector and its sustainability
Panama to relax coronavirus measures in second stage of re-opening
PANAMA CITY (Reuters) - The Panama government said on Tuesday that in June it will start to relax some measures imposed to curb the spread of the novel coronavirus, permitting sectors such as construction, nonmetallic mining and pharmaceuticals to resume operations.
Panama to relax coronavirus measures in second stage of re-opening
PANAMA CITY – The Panama government said on Tuesday that in June it will start to relax some measures imposed to curb the spread of the novel coronavirus, permitting sectors such as construction, nonmetallic mining and pharmaceuticals to resume operations.
US Treasury pressure leads to new probe of African Development Bank chief
Adesina has been accused of handing contracts to acquaintances and appointing relatives to strategic positions.
Covid-proof Equity MF
The disruption across sectors demands a review of your equity mutual fund schemes
Debt Funds: No Safety Tag
From the NBFC liquidity crisis in 2018 to collapse of six Franklin Templeton schemes, debt funds are no longer considered safe
Food in a Tinderbox
The restaurant industry is close to irreparable damage. Can it be saved?
In a Tight Corner
States finally have headroom to borrow more from the market. But there's a cost to it
"Innovation Should Be Given a Boost Through Tax Incentives"
In the middle of the current pandemic, India has emerged as a credible supplier of essential medicines
Deepak Nitrite rises over 5% on strong March quarter nos, pares gains later
The company's revenue from operations (sales), on a consolidated basis, rose 4.69 per cent to Rs 1,055.54 crore for the quarter under review
More liquidity needed, states should come forward with Rs 20 trn: Gadkari
Efforts are on to develop vaccine for the coronavirus, Gadkari said, adding "we will have to learn the art of living with coronavirus"
Birla Tyres, Alok Ind: 41 penny stocks zoom over 100% from March lows
Among the noticeable names, Alok Industries, Birla Tyres, Opto Circuits, Andhra Cements, and Morepen Laboratories are some of the 41 counters that have rallied over 100% in the past two months
Titan dips 2% as Co gives biz update, defers launch of jewellery collection
Titan expects cash outflow to be recovered when sale of jewellery restarts
Coromandel Int'l rallies 8%, hits 52-week high on strong Q4 results
Q4FY20 Ebitda surged 51 per cent to Rs 391 crore, while margins expanded 380 basis points to 13.6 per cent from 9.8 per cent in Q4FY19
JP Morgan chief economist forecasts 'strong rebound' in Indian markets
The economic wounds will be "deeper than anything we've seen since World War Two", says chief economist at JP Morgan
Residential building declines as government considers cash grants for new homes
There was already a decline in the home building industry before the coronavirus pandemic began, heaping pressure on the government to stimulate the sector.
Tesla to cut car prices in North America, China
BEIJING — Tesla Inc said on Wednesday it will cut prices of its electric vehicles in North America as the firm ramps up car production at its Fremont, California, factory after the easing of coronavirus lockdowns.
Global energy investment expected to tumble 20pc in 2020 due to Covid-19 crisis, says IEA
PARIS, May 27 — Global energy investment is expected to plunge by around 20 per cent or US$400 billion (RM1.74 trillion) in 2020, its biggest fall on record, because of the new coronavirus outbreak, the International Energy Agency (IEA) said today. The Paris-based IEA said this could have serious...
FIA approves Formula One budget caps over next five seasons starting from 2021
The first-ever F1 budget cap will come into force next season at 145million US dollars (£117million), with further cuts in 2022 and 2023-25.
DA denies money woes as it plans to cut jobs
The DA is pushing ahead with its plans to retrench staff, but has denied it is facing financial trouble.
First Mutual Life records investment loss
First Mutual Life Holdings Limited has recorded an investment loss amounting to $392,8 million in the full year ended December 31, 2019 due to a decrease in value of equities listed on the stock exchange.
Boeing slashes 12,000 jobs as virus seizes travel industry
Boeing is cutting more than 12,000 jobs through layoffs and buyouts as the coronavirus pandemic seizes the travel industry. And the aircraft maker says more cuts are coming.
CBN reduces interest rate on OFIs facilities to 5% per annum
As part of its continued effort to mitigate the impact of the coronavirus (COVID-19) on households, businesses and regulated institutions...
NZD/USD pulls away from multi-week highs, looks to close near 0.6170
The NZD/USD pair rose to its highest level in 11 weeks at 0.6233 on Wednesday but lost its traction in the second half of the day. As of writing, the
Gold Price News and Forecast: XAU/USD returns to $1,712 and turns positive on the day
XAU/USD has bounced up from two-week lows sub $1700 on Wednesday and is turning positive on the daily charts. The precious metal has reached $1,712 ar
GBP/USD bears seeking a close below 50-D EMA, Brexit talks loom
GBP/USD is currently trading at 1.2247 and lower on the day so far. The US dollar has picked up a safe-haven bid as geopolitics heats up. Cable has tr
EUR/CHF Price Analysis: Euro limited below trendline resistance at 1.0700
EUR/CHF fails at 1.0700 and returns to 1.0650 area. The euro has been capped by downward trendline resistance from April 2019 highs. Euro rally from
Pound Sterling Price News and Forecast: GBP/USD reversal from 1.2350 extends to session lows at 1.2205
Cable fell some hundred pips on Wednesday as traders booked profits from Tuesday's 1.2% rally, weakening near-term structure and shifting focus lower.
Canadian court greenlights extradition proceedings against Huawei CEO’s daughter
A British Columbia Supreme Court judge ruled against Huawei’s chief financial officer Meng Wanzhou on Wednesday, dismissing one of the key arguments by the daughter of the company's founder in her fight against extradition from Canada to the United States.
These 5 'stay at home' stocks are getting pounded as the US economy reopens, Business Insider - Business Insider Singapore
Business Insider - All 50 US states as of Memorial Day weekend have relaxed at least some of the restrictions put in place mid-March to contain the spread of COVID-19.. Read more at businessinsider.sg
What is the difference between subsidized and unsubsidized student loans?, Business Insider - Business Insider Singapore
Business Insider - One of the main differences between subsidized and unsubsidized loans is that you'll pay no interest on subsidized loans while in school.. Read more at businessinsider.sg
Micron climbs 6% after boosting sales guidance by more than expected, Business Insider - Business Insider Singapore
Business Insider - The announcement from Micron helped boost other chipmakers' shares on Wednesday, with the PHLX Semiconductor Index turning positive for the day.. Read more at businessinsider.sg
Ugandan banks close at 2pm to allow staff beat curfew
Kampala, Uganda | THE INDEPENDENT | Several commercial banks have announced they will revise down their closure time to allow staff enough time to drive home so as not to be caught by the 7pm curfew. While some banks have not yet indicated that they will shift from the 3pm closing time, at least …
B.C.’s essential grocery, hardware store employees should get pandemic pay: retail group
Only B.C.’s social, health and corrections workers are eligible for top-ups
Victoria’s Secret Files Suit to Get Out of Manhattan Lease
The busy Herald Square location has been closed since March 17 to prevent the spread of the coronavirus.
ZW$ remains our best foot forward
At the rate at the Zimbabwe dollar (ZW$) is losing its intrinsic value, it may just be a matter of time before the country dollarizes, officially or non-officia...
US mortgage applications rise for sixth straight week
WASHINGTON: U.S. applications for home mortgages jumped last week, in a sixth straight weekly increase, suggesting the housing market could lead ...
Why US energy CEOs will get big payouts despite oil meltdown
National Oilwell Varco Inc (NOV) has had a rough few years: Since 2017, the Houston company, whose drilling equipment is in major oilfields ...
China to increase international flights if COVID-19 under control: Regulator
China's aviation authority will consider increasing international flights as long as imported coronavirus risks are under control, state media ...
COVID-19: More than 7,000 workers matched to new jobs under NTUC’s Job Security Council
SINGAPORE: More than 7,000 workers who were either furloughed or retrenched due to the COVID-19 pandemic have taken up new roles with the help of ...
Sea Limited: Skeletons In The Closet
SE is inflating revenue. SE is selling goods for a negative gross margin. The maximum potential value is $59.8/share.
Tractor Supply Company Is Thriving
Tractor Supply offered Q2 update that is expecting record-breaking sales and earnings Fresh off a stellar Q1, the second quarter is supposed to easily trump tha
Improving EIA's Weekly Crude Oil Production Estimate
Each week the EIA estimates crude production and an adjustment. I used regression of the weekly figures to the monthly actual production. The process developed
Dumpster Diving: (Kirkland's Edition)
On May 18, 2020, Kirkland's reported a business update. The big highlight was 96% e-commerce growth. Despite the costly two month forced shutdown due to COVID-1
Sandstorm Gold: This Gold Miner Is About To Get Much Bigger
Sandstorm's stock outperformance should continue as there are many bullish growth catalysts. There is incremental growth over the next few years thanks to newly
I've Changed My Mind About Norwegian Air - The Future Is Brighter
Norwegian Air Shuttle was, effectively, bust, but it has managed to get the creditor takeover, the rights issue, and the government aid all through. It's thus a
Royal Bank of Canada (RY) CEO David McKay on Q2 2020 Results - Earnings Call Transcript
Call Start: 08:15 Call End: 09:23 Royal Bank of Canada (NYSE:RY) Q2 2020 Earnings Conference Call May 27, 2020 08:15 AM ET Company Participants Nadine Ahn - Sen
Many Americans say the pandemic changed their spending habits for the better, but experts are skeptical it will last
As state and local economies begin to reopen, Americans will be putting their newfound spending habits to the test.
Here's why 3 Wall Street analysts just boosted their Apple price targets
All three analysts see Apple stock gaining further this year, moving past the impact of the coronavirus pandemic on the tech giant.
What is the difference between subsidized and unsubsidized student loans?
One of the main differences between subsidized and unsubsidized loans is that you'll pay no interest on subsidized loans while in school.
These 5 'stay at home' stocks are getting pounded as the US economy reopens
All 50 US states as of Memorial Day weekend have relaxed at least some of the restrictions put in place mid-March to contain the spread of COVID-19.
FIA approves Formula One budget caps over next five seasons starting from 2021
The first-ever F1 budget cap will come into force next season at 145million US dollars (£117million), with further cuts in 2022 and 2023-25.
IndiGo, AirAsia start to refund passenger tickets in travel agents' accounts: EaseMyTrip.com
The move is likely to come as a relief for travel agents as they would now have the flexibility to return the refunds to customers.Prior to the lockdown, the two airlines allowed refunds to be held only in a credit shell for customers, he added
Shops to buses: Telangana govt allows further relaxations to lockdown norms
KCR held separate meetings with ministers and officials on the COVID-19 situation and implementation of lockdown, among others and took decisions on several issues.State-run RTC buses have been exempted from night time curfew restrictions and will be allowed to ply to their destinations
Sisodia interacts with principals on reopening of schools
Education Minister asks them to come up with plan on how to lead the transition
MPA, NATO Ask Congress for Temporary Liability Relief as Businesses Reopen
The letter, sent by the U.S. Chamber of Commerce and signed by over 200 trade and business groups, calls for Congress "to quickly enact temporary and targeted liability relief legislation related to the COVID-19 pandemic."
Chyawanprash sales jump 4 times due to coronavirus, says Dabur; key takeaways from Q4 results
As the coronavirus pandemic hit billions of lives, consumers’ renewed focus on immunity boosting and healthcare brands has led to FMCG major Dabur witnessing an exponential growth in the sales of its chyawanprash range.
NTPC to foray into distribution, keen to buy majority stake in BRPL, BYPL
In a letter written to Delhi Electricity Regulatory Commission (DERC) on May 26, 2020, the power giant said, "NTPC has decided to foray into power distribution sector and keen on acquiring the distribution assets (BRPL and BYPL)".
India initiates anti-dumping probe into imports of polyester yarn from 4 countries
The probe was launched following a complaint by eight domestic manufacturers, including Suryalakshmi Cotton Mills and Suryalata Spinning Mills.
Restaurants listed on Swiggy? Now you can get credit to buy raw materials with this new service
Both Swiggy and Zomato saw multiple restaurants on their platforms shutting down operations temporarily even as the order volume took a hit amid the nationwide lockdown that began March 25.
Franklin Templeton mutual fund investors can pick Deloitte over trustees
Unit holders will vote to moneitse the scheme assets.
Punjab approves reforms to avail additional borrowing of 1.5% of GSDP
The additional borrowing would help state tide over the estimated 30 per cent revenue shortfall in 2020-21 fiscal
State Bank of India slashes FD rate by 40 bps, second cut in May
The lender will also extend EMI moratorium by 3 months for all eligible customers without waiting for a request
Telangana govt to pay 50% salary to staff for third consecutive month
The government noted that the relaxations extended to sectors like the transport and the stamps and registrations from the lockdown restrictions had not made any substantial difference
Boeing slashes 12,000 jobs as coronavirus impacts travel industry
A Boeing spokesperson said Wednesday's actions represent the largest number of job cuts, but several thousand additional jobs will be eliminated in the next few months
5 Unmissable Highlights From Consensus: Distributed 2020
Consensus: Distributed, CoinDesk’s virtual version of their annual crypto conference, is done and dusted. Read for the entire coverage.
'Starting point': EU's frugal members cool on recovery plan
Austria, the Netherlands, Denmark, and Sweden want emergency help for countries badly hit by the coronavirus to take the form of one-off loans
Over-Leveraged Zombie Companies Threaten Economic Recovery
Specter of defaults, bankruptcies lingers amid skyrocketing corporate debt
UK PM Johnson to join post-Brexit talks as key deadline nears
UK Prime Minister Boris Johnson will meet EU leaders in a bid to reinvigorate stalled post-Brexit negotiations ahead of a key deadline, officials said on Wednesday. Britain officially left the
UAE: Human Resources Ministry revises working hours of service centres
Precautionary measures remain in place to curb the spread of COVID-19
7 American ETFs for the Hometown Crowd
American ETFs stocks are again outpacing their international rivals, giving some credibility to having a home country bias.
Alibaba Stock Will Struggle to Overcome These Short-Term Headwinds
Alibaba stock is facing threats from JD.com and the U.S.-China Cold War. This has led to weak sentiment towards Alibaba that should linger.
The 4 Stimulus Bills Saving America From Its Biggest Depression Ever
The U.S. economy was on the brink of collapse, then the Federal Government threw a life vest at the economy with these stimulus bills.
A Much Higher Gold Price Is No Flight of Fancy
Many are starting to turn away from gold stocks as coronavirus tensions ease, but the price of gold can still reach $60,000.
The Trip Aboard Carnival Cruises Stock Will Be Stormy
There is a new normal coming so CCL stock will have to face a new reality. This is especially true if there is a delay in the vaccine.
NCC suspends Spectrum Trading guidelines - The Nation Nigeria
The Nigerian Communications Commission (NCC) Wednesday suspended the Spectrum Trading Guidelines (2018) for the nation's telecommunications industry.
ED attaches JP Morgan assets worth Rs 187 Cr, MNC in SC denies wrong doing in Amrapali case
During the arguments, senior advocate Mukul Rohatgi appearing for JP Morgan India, said that on Tuesday, the Enforcement Directorate (ED) has attached the account of the multi-national firm to recover money to the extent as per the apex court's directions.
Moderna falls 20% amid reports that insiders have sold $89 million in shares this year as the stock has spiked
Moderna dropped as much as 20% on Wednesday amid a report from Stat News that insiders at the biotech company have liquidated $89 million in sto...
Panel’s mantra of ease of doing business
NT NETWORK Panaji With the tight financial position of the state practically ruling out any kind of relief package, the economic revival committee in its
Goldman Sachs warns global economic recovery could be bumpy
The global economy could be in for a bumpy ride as lockdowns tied to the COVID-19 pandemic begin to ease, especially if governments start to pull back on stimulus programs, Goldman Sachs Group Inc. President John Waldron said.
SoftBank’s Vision Fund Is Planning to Cut 10% of Staff
SoftBank Group Corp.’s Vision Fund is planning deep cuts in staffing after reporting about $18 billion in losses from the declining value of its startups, according to people familiar with the matter.
AUD/USD risks to visit 0.6000 later this year – Rabobank
The Australian dollar has appreciated steadily despite the grim economic data, however, escalating the tensions between the US and China might endang
GBP/JPY Price Analysis: The pound fails at 133.00 again
Sterling’s rally from 130.65 lows last week has been unable to extend beyond the 133.00 level, for the fourth time so far this month, and the pair has
Russia seizes 40 tonnes of embargoed European cheeses
Russia on Wednesday seized 40 tonnes of European cheeses smuggled into the country in breach of an embargo on EU food imports, the customs service said.
German chemical firms see 'significant' blows ahead from virus
Germany's powerful chemical sector can expect significant blows to activity from to the coronavirus pandemic this year, an industry federation warned Wednesday.
MSMEs set new world record for largest online business lesson
The attempt created a new world record for the largest online business lesson, involving 18,693 unique viewers for 30 minutes.
UCO Bank slashes lending rate by 40 basis points, MSME loans to get cheaper
The government expects banks to reduce lending rates, which is required to kick start the economy hit hard by the coronavirus-forced lockdown, among other factors
Here’s Why Bitcoin’s Large Transaction Count Has Slid 8% Over the Past Week
Bitcoin has seen a sharp decline in on-chain large transactions. This signals that large spot traders are largely moving to the sidelines.
Why Avis and Hertz Stock Just Popped, but Latam Airlines Dropped
A bullish pronouncement from JPMorgan's CEO just helped double the share price of bankrupt Hertz.
U.S. economic activity fell sharply due to coronavirus disruptions, Fed says
Economic activity declined sharply across the United States over the past several weeks, according to a Federal Reserve report released on Wednesday, reflecting the disruptions caused by the coronavirus pandemic.
Boeing Layoffs 2020: 9 Things for BA Stock Investors to Know
Boeing (BA) president and CEO Dave Calhoun announced on Wednesday that involuntary layoffs are starting at the airplane manufacturer.
3 Nasdaq-100 Stocks to Buy On the Dip For Bullish Investors
It could be a top. But today’s market weakness looks better put to use as an opportunity to buy leading NASDAQ stocks.
Aurora Cannabis Stock Is Worth a Look After Reliva Acquisition
Aurora stock piqued the interest of investors when the company announced its acquisition of Reliva and entry into the U.S. market.
CBN okays reliefs on loans in OFIs sector - The Nation Nigeria
The Central Bank of Nigeria (CBN) has reduced interest rates on its facilities through participating Other Financial Institutions (OFIs) from 9%
Publicise WhatsApp numbers of shopkeepers, avoid complete shutdown, Bombay HC tells authorities
The petitioner told the court the authorities had announced a complete shutdown in containment zones from May 15 to May 20, causing inconvenience to both the consumers and shopkeepers selling essential goods.
Punjab decides to hike MBBS fee in govt, private colleges
With the massive surge in the price index in the years thereafter, these colleges are facing fiscal problems and are unable to meet the norms of Medical Council of India, thus necessitating a fee hike
The Fed is considering a policy tool not used since World War II to keep borrowing costs at historic lows
The Federal Reserve is mulling yield-curve control as a method for ensuring borrowing costs stay at historically low levels through the coronavi...
Warren Buffett's Berkshire Hathaway loses billionaire Bill Ackman as an investor
Warren Buffett's Berkshire Hathaway has lost Bill Ackman as an investor. The hedge-fund manager revealed the sale of his Pershing Square fund's ...
PM signals ‘air bridges’ between countries could be introduced
The UK is to impose a 14-day quarantine requirement for anyone arriving in the country from June 8, but the rules will be reviewed every three weeks.
Huawei CFO Faces an Uphill Battle Against Extradition to the U.S as a Canadian Court Delivers an Adverse Ruling
Huawei CFO sustains a blow as the Superior Court of British Columbia delivers an adverse verdict in the U.S. extradition case
Postmedia to lay off about 40 employees after unions reject salary cuts
Postmedia Network Canada Corp. says it will lay off about 40 employees after a number of its unions did not approve a temporary salary reduction to help reduce costs amid the COVID-19 pandemic.
Fed catalogues devastation wrought by pandemic on U.S. economy
The coronavirus deeply damaged the U.S. economy in recent weeks, with “steep” job losses and business closures, a new Federal Reserve report said.
Rowdy Chicago trading pits face risky reopen, extinction threat
Pete Kosanovich can’t wait to put his trading jacket back on and return to the noisy Chicago pit where he’s worked for 17 years. The burly former football player is known on the floor by the letters “MGLA” printed on his badge, a nickname referencing the 1960s cartoon “Magilla Gorilla.”
ASX to rise as Dow, S&P advance
Australian shares are set to open higher with the Dow retaking the 25,000 mark and the S&P 500 closing above 3000.
How Small Businesses Can Soften the Blow of Bankruptcy
Some dos and don’ts for those teetering on the brink
Gold picks up as market sentiment sours
XAU/USD has bounced up from two-week lows sub $1700 on Wednesday and is turning positive on the daily charts. The precious metal has reached $1712 are
Fed's Bullard: US has seen worst of economic fallout from coronavirus crisis
"Could be well that the US has seen the worst of the economic fallout from the coronavirus crisis," St. Louis Federal Reserve President James Bullard
USD/JPY traders weigh a massive cocktail of mostly toxic risks
Uncertainty is playing out and USD/JPY is in focus. Markets are caught between prospects of the global economy opening-up and the downside risks of se
Fed's Beige Book: Securing PPP loans helped many businesses to limit or avoid layoffs
Economic activity declined in all districts, falling sharply in most, reflecting disruptions associated with the COVID-19 pandemic, the Federal Reserv
Greek PM praises 'huge step' of European recovery bid
Greek Prime Minister Kyriakos Mitsotakis on Wednesday hailed a proposed EU coronavirus recovery package as a
New Jersey businesses seek reopening plan as they worry about survival
The New Jersey Senate Fiscal Recovery Strategists Committee heard some sobering numbers on Tuesday from businesses shut down by the state to slow the spread of COVID-19.
Putin, Saudi crown prince agree further coordination on oil output cuts - Kremlin
MOSCOW (Reuters) - Russian President Vladimir Putin and Saudi Crown Prince Mohammed bin Salman agreed during a telephone call on further
Canada's RBC, BMO offer subdued outlook, miss profit estimates as bad loan provisions surge
By Nichola Saminather TORONTO (Reuters) - Royal Bank of Canada and Bank of Montreal on Wednesday offered subdued outlooks after missing quarterly earnings expectations as they increased provisions more than six-fold to cover future loan losses due to the COVID-19 outbreak. RBC shares climbed 2.9% in morning trade, while BMO fell 0.2% versus a 2.5% gain in the benchmark banks index.
Gold dips to two-week low on recovery hopes
By Brijesh Patel (Reuters) - Gold dropped to its lowest in two-weeks on Wednesday as hopes of quick economic recovery drove investors towards riskier assets, although U.S.-China tensions over Hong Kong put a floor under bullion prices. Spot gold was down 0.6% at $1,700.30 per ounce by 1223 GMT.
EU reactions to Commission 750 bln euro coronavirus recovery scheme
BRUSSELS (Reuters) - The European Commission proposed on Wednesday to borrow 750 billion euros on the market and issue grants and loans to EU countries to kick-start an economic recovery after the coronavirus pandemic. Below are initial reactions of EU governments to the plan
Boeing Slashes Over 12,000 US Jobs Amid COVID-19, Thousands More Planned
Boeing Co said Wednesday it was eliminating more than 12,000 US jobs, including involuntary layoffs of 6,770 US workers as the largest American planemaker restructures in the face of the coronavirus pandemic.
Blowout At Oil India Well In Assam, Villagers Shifted To Safety
Residents near an oil well of Oil India Limited in Assam's Tinsukia district had to be evacuated after a "blowout" on Wednesday. The Baghjan 5 well in Upper Assam exploded in a fountain of crude oil after pressure control systems failed.
Here's why 3 Wall Street analysts just boosted their Apple price targets, Business Insider - Business Insider Singapore
Business Insider - All three analysts see Apple stock gaining further this year, moving past the impact of the coronavirus pandemic on the tech giant.. Read more at businessinsider.sg
SEZAD keeps project deadlines while ensuring COVID-19 safety
While taking all precautionary measures to combat coronavirus, the Special Economic Zone Authority at Duqm (SEZAD) has also implemented its plan to complete the infrastructure projects for the zone, particularly Duqm Port, according to Yahya bin Said Al Jabri, SEZAD Board Chairman.
Postmedia to lay off about 40 employees after unions reject salary cuts
TORONTO — Postmedia Network Canada Corp. says it will lay off about 40 employees after a number of its unions did not approve a temporary salary reduction to help reduce costs amid the COVID-19 pandemic.
‘Current economic downturn will be more severe than the Global Financial Crisis of 2008’ – Ong Ye Kung
‘Current economic downturn will be more severe than the Global Financial Crisis of 2008’ – Ong Ye Kung
Reopen the Economy
There is a strong case for the government to review the restrictions and eases them considerably to let the people return to businesses. Going by its economic cost, the lockdown has become unsustainable. As things stand, lockdown is wrecking the businesses, leaving thousands of people unemployed
Animal Spirits stuck at the same place as lockdown stall economic activity
The dashboard signals Asia’s third-largest economy had a dismal start to the new fiscal year from April 1, after what’s been an already disappointing beginning to the calendar year.
With overseas IPO for Jio Platforms, Mukesh Ambani may look to cash in on tech cold war with China
Going to the New York Stock Exchange or Nasdaq would make sense. U.S.-traded Chinese technology firms such as JD.com Inc. and NetEase Inc. are looking for an alternative home closer to the mainland in case tensions between Washington and Beijing escalate, as my colleague Nisha Gopalan wrote this week.
50% of consumers expect to increase ecommerce spends in the next one month: Facebook-BCG Report
The report also reveals how 43% consumers are expecting decrease in overall spend in the next six months
This will be the Indian Railways Dehradun station soon! Developers like GMR, Mahindra attend pre-bid meeting
World-class Indian Railways Dehradun railway station is one step closer! The pre-bid meeting was attended by 22 potential investors like the GMR Group, Adani Road Transport Ltd.
RBI’s loan moratorium may spell trouble for NBFCs looking for funds, as investors’ trust weakens
The effect of loan moratorium is expected to make a dent in the liquidity profiles of non-banking finance companies.
Debt downgrades can push India bank fund raising to $20 billion
A legacy of bad loans, a shadow banking implosion and a historic bank bailout in March have left Indian lenders weakened coming into the coronavirus lockdown.
Euro zone economy to shrink between 8% and 12% this year: Christine Lagarde
Lagarde said the actual outcome would be between the "medium and "severe" scenarios
Adani Power gets approval to set up 1,320 MW plant in Madhya Pradesh
Pench Thermal Energy has signed a power purchase agreement with MP Power Management Company Ltd (MPPMCL) for procurement of 1,320 MW of electricity on long-term basis
India may need to pump Rs 1.5 trn into coronavirus-hit state banks: Report
"The situation is very grim," the source said, adding that banks would require fresh funds soon
Govt to use five hubs to bring back Indians on Vande Bharat flights
Over 275 Indians stranded in Mexico, Peru, Portugal and Netherlands returned via Amsterdam in first such flight on Wednesday
Renault, Nissan rule out merger, unveil plan to save troubled alliance
Renault and Nissan were among the weakest global automakers going into the coronavirus crisis
Bond market signals rocky road ahead for Tata Motors, Jaguar Land Rover
JLR bonds trading at record yield of 13.2%, more than double since the pandemic broke out
Amrapali case: ED attaches JP Morgan assets worth Rs187 cr, firm cries foul
A bench of Justices Arun Mishra and U U Lalit asked the Enforcement Directorate to file a short reply on the grievance raised by the JP Morgan India
Coromandel International's Q4 PBT rises 91%, total income up 8.84%
The total income for the quarter rose 8.84 per cent to Rs 2880.82 crore from Rs 2646.96 crore in the year ago period.
Beware of False Bottoms: Comparing Bitcoin and the S&P 500 to 1929’s Great Depression
False bottoms in Bitcoin and a comparison between the S&P 500 now and in 1929 suggest that more downside could be ahead, just like in 1929.
Battle ahead for EU's massive virus recovery plan
If passed, this proposal would be the biggest European Union stimulus package in history. But Germany predicts talks would drag on until the end of 2020.
New turbulence in high-stakes Lufthansa rescue drama
Lufthansa says its supervisory board is currently 'unable to approve' the aid package from Germany, as conditions must be 'analyzed intensively'
Northumberland Roman site gets rescue package to help it through coronavirus crisis
Vindolanda Trust gets loan from Lloyds Bank to help mitigate huge loss of visitor income
WTO disputes explained as report puts Newcastle United takeover in further doubt
The World Trade Organisation's confirmation of a dispute against Saudi Arabia could provide another obstacle to a buy-out of the Magpies
Why General Electric Stock Jumped Nearly 10% at the Open Today
The conglomerate's turnaround effort took another (small) step forward with the sale of an iconic division.
Japan OKs funds for US$1.1T stimulus to fight pandemic woes
Japan's Cabinet approved a proposed 32 trillion yen (US$296 billion) supplementary budget on Wednesday to help fund $1.1 trillion in measures to cushion the blow to the economy from the coronavirus pandemic.
Nio Stock Is a Solid Buy After Rough Week
Nio stock took a beating in 2019, but the company is positioned for growth in 2020, with improving sales and extended Chinese EV subsidies.
As SPCE Stock Remains a Moonshot, Stay on the Sidelines
A "wait-and-see" approach may be the best way to play SPCE stock, as the company remains highly speculative.
Germany’s Scholz sees recovery fund as more than money
German finance minister talks to POLITICO about the need to look beyond national economies to make an EU that can work for decades to come.
Sebastian Kurz cautious on Commission’s €750B recovery blueprint
Austrian chancellor, a leader of EU’s frugal faction, tells POLITICO he sees some positives in proposal.
Numbers continue to grow, 354 domestic flights operated till 5pm today: Aviation Minister
After two months of being grounded, India resumed its domestic flight services on Monday with 428 flights functioning on day one.
Dow climbs 350 points as investors cheer efforts to boost global economies
US stocks rose on Wednesday as investors were encouraged by signs that global authorities were taking measures to boost economies. The European ...
Pub jobs at risk unless social distancing is cut to one metre, trade groups warn
Expecting pubs to contribute to furlough costs whilst they are still closed is ‘madness’, Chancellor told.
Moderna falls 20% amid reports that insiders have sold $89 million in shares this year as the stock has spiked (MRNA)
Moderna dropped as much as 20% on Wednesday amid a report from StatNews that insiders at the biotech company have liquidated $89 million in stock so far in 2020.
RIL expanded in every conceivable technology trend: report
IANS Mumbai Reliance Industries (RIL) has expanded its horizon in every conceivable technology trend and the investments made by the company are bridging
2 out of 3 MSMEs are well-placed in lockdown
IANS New Delhi Two out of three micro, small and medium enterprises (MSMEs) are well-placed to surge through the lockdown while 30 per cent are very stron
Domestic flight operations on their way to normalcy
PTI New Delhi A total of 445 domestic flights, carrying 62,641 passengers, were operated on Tuesday, Civil Aviation Minister Hardeep Singh Puri said on We
Moderate participation expected in spectrum auctions: ICRA
IANS Mumbai Rating agency Investment Information and Credit Rating Agency (ICRA) expects moderate participation for the upcoming spectrum auctions at
Stringent lockdown further reduced GDP forecast: Fitch
IANS New Delhi India’s stringent lockdown norms have lasted longer than expected, said Fitch Ratings as it further reduced India’s GDP forecast to (-)
The European Union Is on the Brink of Historic Change
The Commission’s $825 billion rescue fund would break many taboos, possibly paving the way for EU taxes and an EU treasury
Birla Corporation Surges 43% In Two Days As Company Doubles Profit In March Quarter
Birla Corporation stock surged 43% in two sessions Cement maker Birla Corporation’s stock continued to surge on Wednesday for the … Birla Corporation Surges 43% In Two Days As Company Doubles Profit In March Quarter Read More »
Four recruitment firms join hands to help India Inc return to work
(Representative image) MUMBAI: Four global HR services companies — Randstad, The Adecco Group, ManpowerGroup and Gi Group — have formed … Four recruitment firms join hands to help India Inc return to work Read More »
I want to be a security guard … what will my salary be?
The industry can be divided into two categories: those who need security and those who want it. Those who need it typically pay $15 per hour, while those who who want it pay between $17 - $23
What every Canadian investor needs to know today
A look at the morning’s market action
Nokia Suspends Operations at Its Tamil Nadu Plant After 42 Employees Test COVID-19 Positive: Report
Notably, the plant had been operating in a restricted manner over the past few weeks ever since the Centre announced the easing of the restrictions to fix the economy.
Robinsons squash buoys Britvic as sales hit by pub closures
Sales of child-friendly brand Fruit Shoot were affected by the lockdown, the company said, as people stayed at home.
Dangote, Glo named most admired Nigerian brands in Africa
In its recently released brand ranking for the 100 most admired brands in Africa, Dangote and Globacom were the highest-ranked Nigerian brands.
Ryanair to announce 'hundreds' of Irish redundancies this week
The CEO of Ryanair Michael O'Leary says the airline is to announce redundancies of Irish pilots a...
Saudi takeover of Newcastle United in doubt after WTO finding
The prospect of the Saudi Arabian Government taking a majority stake in Newcastle United has suff...
Enter Nifty at current levels from 3-5 years’ perspective: IIFL Wealth
‘The biggest driver for economic recovery will be demand revival and consumption
Short covering or a catch-up rally? What drove Sensex up 996 points
Among the blue chips, bank and financial stocks were in heavy demand.
Floor trading resumes at Wall Street, with masks and plexiglas
Stocks surged following the trademark opening bell, which was presided over by New York Governor Andrew Cuomo and NYSE officials – all wearing masks.
Saudi public sector employees will return to work starting May 31
Saudi public sector employees will start returning to work gradually as of Sunday May 31, after more than two months of suspension amid strict measures to help curb the novel coronavirus outbreak.
Strict rules Primark fans will need to follow when stores reopen
Primark stores will look very different with changes to how customers shop and browse items
Aston Martin appoints ex-AMG boss Tobias Moers as new CEO from August 1 – Andy Palmer steps down
Tobias Moers After some speculation, Aston Martin Lagonda has now confirmed that Andy Palmer will be stepping down as president and group CEO of the
Companies Act 2013 Amended To Make PM CARES Eligible To Receive CSR Funding From Corporates
Now, corporates can fund the government under CSR activity. Gazette notification to this effect was released by the Narendra Modi government under which the PM CARES fund can receive funds from...
Covid-19 to drive €4bn loan losses in Irish banks
Pandemic will wipe out capital due to be returned to shareholders
Lockdown Barber Shops Ordered to Close by Trading Standards
A war led by the BBC on barber shops caught defying the lockdown to offer haircuts has ended, after the local trading standards department ordered the closing of around 20 rule-flouting hairdressers.
Youth Online Businesses Face Closure as Govt Demands Fees
Deejays and those with online shops selling various goods including clothes, shoes and food items are affected by the pronouncements from...
Japan Enacts High-Tech 'Super City' Bill Where AI, Big Data and Other Technologies Are Utilized To Resolve Social Problems
The Diet enacted a bill Wednesday to create "super cities" where artificial intelligence, big data and other technologies are utilized to resolve social problems. The Japan Times reports: The bill revising the national strategic special zone law passed the House of Councilors by a majority vote wit...
Stripe Expands to 5 More European Nations
Stripe, a major payment processing company, has expanded its services to five more European countries - the Czech Republic, Romania, Bulgaria, Cyprus, and Malta.
GCEX to Use Koine Custody and Settlement Service
Koine, a provider of segregated, institutional custody and settlement services for digital assets and fiat money, has integrated with digital broker GCEX.
Zimbabwe gold miners to keep more export earnings in dollars
Until now, gold miners received only 55% of their sales in dollars.
Shanghai Stock Exchange mulls benchmark’s first revamp in 30 years
'Revamp will finally break the curse of the Shanghai composite being perpetually stuck at 3 000' - fund manager.
China traders buying Hong Kong stocks like never before
History shows mainland buying tends to pick up when Hong Kong shares drop.
SBI cuts fixed deposit rates by 40 bps; check out new rates
The new rates on retail term deposits are applicable from May 27, according to data available on the bank's website
GE Power India appoints Mahesh Palashikar as Chairman
GE Power India is one of the leading players in the Indian power generation equipment market. Its manufacturing unit is located in Durgapur, West Bengal
Kerala likely to resume sale of alcohol from May 28
The Kerala government has approved the resumption of the sale of alcoholic beverages in the state beginning Thursday, said sources, even as the state is witnessing a spike in COVID-19 cases following the easing of restrictions and arrival of Keralites from abroad and other parts of the country.
Boris Johnson vows not to hike income tax, VAT or national insurance and says triple lock on pensions will STAY despite coronavirus bailouts devastating public finances - with 8.4MILLION jobs now furloughed
Standing by Tory tax and pensions pledges today, Boris Johnson told senior MPs: 'We are going to meet all of our manifesto commitments.'
LIC launches pension scheme with 10-year term policy for senior citizens
According to data, the number of folios with 44 fund houses rose to 9,04,28,589 at the end of April, from 8,97,46,051 in the end of March, registering a gain of 6,82,538 folios.
Coronavirus Impact: Shapoorji Pallonji Real Estate bets big on digital, to redirect ad spends on digital marketing
The company plans to redirect around 50% to 60% of its ATL spends towards digital marketing which takes the tally to over Rs 10 crore
Need funds after job loss? Your life insurance policy may help you get it in an easy way
People facing job loss or salary cuts may be in financial distress and need funds urgently to meet their day-to-day expenses.
Stock Market Investment in times of Covid-19: Time to rebalance your portfolio, stay invested for long term
Stock markets are hard to predict. The best way to time the market is to remain invested in the market.
Future Retail to raise up to Rs 650 crore via NCDs to refinance debt
The funds will be used mainly for replacing the company's existing high cost current or near term maturity debts requirements
Top headlines: Google faces antitrust case in India, Ola buys Dutch firm
Business Standard brings to you the top headlines of the day
Sovereign gold bond sale in May at Rs 1,168 cr, highest since launch
Record sale by value attributable to the high price of the metal in Indian markets.
XRP Is Poised to Plunge Even Lower as Price Falls Under Two Crucial Supports
There was a short period last week during which altcoins outperformed Bitcoin. Yet XRP and the rest of the cryptocurrency market have begun to
Post Lockdown, Employees Allege Companies ‘Forcing To Resign’ The Job In Hyderabad
Coronavirus has hit all companies across industries with most seeing meager or zero inflow of revenue. From India’s largest business conglomerate Reliance Industries to smaller startups, there have been pay cuts and layoffs across the board. Several companies, especially startups have had to let go employees, thousands in some cases.
Boeing set to announce significant US job cuts this week: Union
Boeing Co is expected to announce US 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
‘Avalanche of Evictions’: Many Americans Face Homelessness as Moratoriums Lifted
Many Americans are facing unemployment and could soon be evicted amid the COVID-19 pandemic, despite temporary government assistance.
Boeing to lay off more than 13,000 workers including 6,700 involuntary job cuts as the aerospace giant reels from coronavirus crisis
Boeing announced Wednesday it will lay off around 13,000 workers including 6,770 involuntary cuts while 5,520 staffers were accepted for voluntary severance packages.
Need for growing NDB into global development institution: FM Nirmala Sitharaman
In her remarks at the meeting, Sitharaman appreciated Kamath for his stellar stewardship in very quickly giving shape to the vision stated by the BRICS (Brazil, Russia, India, China and South Africa) leaders in 2014.
Piyush Goyal asks industry to start working for post-COVID period; says worst for economy is over
The minister said that "worst for the economy is over. Things are looking up, and revival is in the air".
Coronavirus Impact: 72% consumers want to buy from locally sourced items going forward: Deloitte Consumer Tracker Report
Consumers are carefully evaluating needs versus wants of products and services making a shift towards less discretionary purchases
Boeing resumes production of its troubled 737 Max airplane
The plane involved in two fatal crashes is starting back up production.
AfDB:I maintain my innocence on allegations – Adesina
Adesina said this in a statement he personally signed and issued on Wednesday.
Lufthansa refuses to accept EU conditions on $10-billion bailout
Airlines including Air France-KLM and the main U.S. carriers have all sought government aid to ride out the coronavirus crisis, which has brought air travel to a near-halt.
Chevron Corp sees up to 15% reduction in positions amid Covid-19 crisis
Most of the reductions will take place this year, according to an internal memo said.
IAF gets second Tejas squadron; Air Chief shows the way with solo sortie
Air force chiefs, including Pakistan's recently, often go up for a spin to boost the morale of their fighter pilots.
SBI simplifies EMI moratorium process, starts notifying eligible borrowers via SMS
SBI on Wednesday said it has simplified the equated monthly instalment (EMI) deferment process for eligible borrowers who want to avail moratorium on term loan repayments. It has reached out to all
SEEK job ads continue to increase as economy reboots
It appears job advertisements are continuing to climb, after a sharp drop off in April due to coronavirus. SEEK’s latest data shows that new job ads posted on their website during the fortnight ended…
S&P Global Reports Record Number of Potential Downgrades
In total, 1,287 of S&P’s ratings are now on a downgrade warning, more than in April 2009.
Stock Market Wrap-Up: Why Tesla's Price Cuts and Beyond Meat's Stock Drop Shouldn't Worry You
The stock market posted another round of gains.
Lufthansa's $15b rescue hits surprise hurdle as board rejects EU conditions
Lufthansa's German government bailout was thrown into doubt after the airline's supervisory board refused to accept the conditions attached by Brussels.
Goldman Sachs warns of a 'start-and-stop' economic recovery
The global economy could be in for a bumpy ride as lockdowns tied to the COVID-19 pandemic begin to ease, says Goldman Sachs president John Waldron.
FIA approves F1's budget cap reduction and handicap system
There will be greater aerodynamic restrictions for the more successful teams in a development handicap system.
Flying high: SAA rescue practitioners defend their R30m fees
Rescue practitioners Siviwe Dongwana and Les Matuson have come under fire for the R30m in fees that they have invoiced and the R10bn spent on restructuring SAA since it was placed under business rescue on 5 December 2019.
Venezuela reaches deal with U.N. to buy food, medicine with gold -cenbank
CARACAS — Venezuela has reached a deal with the U.N. Development Programme (UNDP) to destine part of its gold in Bank of England accounts toward the purchase of food and medicine during the coronavirus pandemic, its central bank governor said on Wednesday.
CMHC sees declines in home prices, sales, starts that will linger to end of 2022
Canada's housing sector will see a retreat in prices, sales and building in the months ahead and likely won't see a return to pre-pandemic levels until at least the end of 2022, according to Canada Mortgage and Housing Corp.
What you need to know about paying your Local Property Tax
The year 2020 is bringing a lot of changes for the Local Property Tax. Here's everything you need to know in simple terms.
FG to ammend National Endowment for the Arts Act
The Federal Government is to ammend the Act establishing the National Endowment for the Arts, to better meet the demands of the creative..
Oyo group backs govt to take N22.5b loan - The Nation Nigeria
An Oyo State-based socio-political organisation, Oyo Kajola Group (OKG), has described the approval of N22.5 billion loan by the House of Assembly ...
I've not stepped down as AfDB president, says Adesina
African Development Bank (AfDB) President Dr. Akinwumi Adesina has denied stepping down from office.Adesina, in a statement, said “the bank’s...
Boeing job cuts start to hit nearly 13,000 workers
A drop in travel due to the pandemic worsened the situation for the company, which was already in crisis.
Oil slides on OPEC, Russia uncertainty
Russia is sending mixed signals ahead of the meeting in less than two weeks between the Organization of the Petroleum Exporting Countries and its allies.
Value rotation was the last thing big funds thought would happen
Up 5.2 per cent this week, value stocks in the Russell 1000 Index are poised to beat their growth counterparts by the most in 11 years.
Carl Icahn Exits Bankrupt Hertz at Loss of Almost $1.6 Billion
Billionaire investor Carl Icahn sold out of Hertz Global Holdings Inc., the rental-car company that filed for bankruptcy last week, calling off a roughly six-year bet that lost him almost $1.6 billion.
CBN reduces interest rate on OFIs facilities to 5% per annum
CBN has reduced interest rates on its facilities through participating OFIs to five percent per annum, effective March 1 due to COVID-19.
Nationalisation of Reserve Bank: What SA can learn from New Zealand
New Zealand’s handling of policymaking regarding its central bank holds lessons for SA when it comes to plans to nationalise Reserve Bank, writes Hlengani Mathebula.
AUD/USD stretches recovery moves beyond 0.6600 despite US-China tussle
AUD/USD extends the late-US session recoveries while trading around 0.6620 at the start of Thursday’s Asian session. Although concerns surrounding the
Wall Street Close: Bulls holding the reigns still and defying gravity
US benchmarks impressed yet again on the bid as a classic case of fear of missing out could well be drawing the less committed, or late decision-makin
US House votes to send China sanctions bill to Trump’s desk as tensions escalate – CNBC
While adding fuel to the already heated relations between the US and China, CNBC conveyed the news that the US House of Representatives got the votes
US Diplomat Stilwell: Appears Beijing is using coronavirus to accelerate political agenda, including on Hong Kong
Amid a slew of comments from the US and Chinese diplomats, David Stilwell, top US policymakers for East Asia recently conveyed his view for the Asian
PH airlines ready to resume flights under ‘new normal’
Philippine carriers are ready to resume passenger commercial flights under the “new normal” as the Air Carriers Association of the Philippines renewed their call for government support.
Singapore firm offers to acquire P7.3-b stake in First Gen
Valorous Asia Holdings Pte. Ltd. of Singapore offered to acquire up to 9 percent of outstanding common shares of First Gen Corp. for P7.286 billion.
JP Morgan's Rs 187 Crore-Assets Attached, Firm Denies Wrongdoing In Top Court
The Enforcement Directorate on Wednesday informed the Supreme Court that it has attached the assets worth Rs 187 crore of multi-national firm JP Morgan alleged to have been involved in syphoning of Amrapali Group home buyers money.
Over 3,500 Special Trains Originated Till Now: Railways
The Ministry of Railways on Wednesday informed that over 3,500 Shramik special trains have been originated till now by Indian Railways carrying more than 48 lakh passengers to various destinations.
Boeing restarted 737 Max production just hours after saying it would lay off thousands of workers, Business Insider - Business Insider Singapore
Business Insider - Boeing said it had resumed construction of the 737 Max at its Renton, Washington, plant, just hours after announcing layoffs.. Read more at businessinsider.sg
Vacation rentals around the world have jumped 127% since early April in a sign that people are slowly starting to travel again, Business Insider - Business Insider Singapore
Business Insider - A surge in domestic tourism is fueling a rebound in short-term rentals as states begin to ease lockdowns, according to data from AirDNA.. Read more at businessinsider.sg
Congress has yet to agree on the latest coronavirus relief package, so don't expect another stimulus check in June, Business Insider - Business Insider Singapore
Business Insider - Many Democratic lawmakers are pushing to send more stimulus checks to households, but it's unlikely to happen in June.. Read more at businessinsider.sg
Thai parliament urged to pass record US$60 billion coronavirus stimulus bill
Thailand's premier on Wednesday urged parliament to approve the kingdom's biggest-ever stimulus package to revive an economy battered by ...
Lufthansa board rejects EU conditions on US$10 bln bailout
German airline Lufthansa's supervisory board on Wednesday rejected conditions imposed by Brussels on a proposed government bailout, casting fresh ...
From NCLT to upper circuit: The comeback of Alok Industries
The stock was listed on February 27 at Rs 14 and declined to a low of Rs 3.92 on March 31.
Government tracks package rollout to gauge impact on ground
Officials said the focus is on implementation of the measures announced in the package before any fresh ones are undertaken. "Focus, right now, is to implement the various elements of the package... A number of them need cabinet approval. So, the process has been set in motion," said one of the officials.
Reopened US car factories see coronavirus cases as production rolls on
In the week since US auto factories reopened after coronavirus lockdowns, workers at all three Detroit automakers have tested positive for COVID-19 but only Ford has temporarily closed plants. The US
Wholesaler Quality King sued by AG for alleged coronavirus price gouging
“Quality King’s profiteering during this time of crisis is appalling,” said Attorney General Letitia James. “Instead of ensuring New Yorkers could protect themselves from this virus and stop
Wilbur Ross says SpaceX launch makes space ‘new war-fighting domain’
Commerce Secretary Wilbur Ross said Wednesday afternoon's launch of SpaceX has huge financial and military implications for the US, including making space the "new war-fighting domain."
Consumer sector seen de-growing by 2-4%
Mumbai: The coronavirus lockdowns and the resultant disruptions in demand and supply will see the consumer sector de-growing by 2-4 per cent this fiscal, says a report. However, the impact will be...
Wonderla's net profit falls in Q4 to 1.56 crore
Hyderabad: Amusement park operator Wonderla Holidays on Wednesday said it registered 77.68 per cent drop in its net profit to Rs 1.56 crore in the quarter ended March 2020 as against Rs 6.99 crore...
Lufthansa bailout 'in Europe's best interests'
German economy minister Peter Altmaier has said he expects the European Commission to approve a €9bn bailout of flagship carrier Lufthansa, adding that it was also in Europe’s interests to avoid a sell-off of such companies.
Occidental is sued by shareholders, bondholders over Anadarko merger
NEW YORK (Reuters) - Occidental Petroleum Corp (OXY.N) has been sued by investors who claim they suffered billions of dollars of losses because the heavily indebted company concealed its inability to weather plunging oil prices, after paying $35.7 billion to acquire Anadarko Petroleum Corp.
Disney to present reopening plan for Walt Disney World
LOS ANGELES (Reuters) - Walt Disney Co will present its proposal for a phased reopening of its Orlando, Florida, theme parks to a local task force on Wednesday, the company said in a statement.
Coronavirus lockdown has driven dairy consumption in homes up to 20%, says Amul MD
However, categories such as ice-cream has seen a 80 per cent dip in sales. Amul is also sitting on huge inventory of milk powder, with HOREKA sales coming to a halt
Economy contracted by 1.7 per cent in March quarter - PIOJ
Jamaica’s real Gross Domestic Product (GDP) contracted by an estimated 1.7 per cent during January to March 2020, ending 20 consecutive quarters of no economic contraction. Director General of the Planning Institute of Jamaica (PIOJ) Dr Wayne...
Bellagio, MGM Grand, Caesars Resorts to Reopen in Las Vegas on June 4
Multiple casino-resorts plan to open their doors amid COVID-19 world restrictions and new safety protocols.
After Modi’s economic package, Nitin Gadkari asks states to chip in Rs 20 lakh cr more to fight coronavirus
Nitin Gadkari today said that states must contribute Rs 20 lakh crore to fight against coronavirus-led disruptions.
Floor price issue may not figure on Trai’s radar for at least 2 months amid COVID-19 crisis: Source
This is not an "opportune moment" to address the issue, and in any case, telecom operators are free to take decisions on tariff matters, the senior Trai official said.
Fixed Deposits: State Bank of India (SBI) cuts FD interest rate by 0.4% across all tenure – Check new rates
SBI Latest FD Rates: The new rates of interest will apply to fresh deposits and renewals of maturing deposits.
Thanks to Covid, India shows highest surge in preference for e-commerce among these top nations
The hygiene and risk factors have contributed to the increased adoption of e-commerce channel among customers who have either been inactive in digital buying or preferred traditional channel for touch-and-feel factor before making purchases.
Is India's richest man Mukesh Ambani betting on US-China tech war?
US-traded Chinese technology firms such as JD.com and NetEase are looking for an alternative home closer to the mainland in case tensions between Washington and Beijing escalate
A Closer Look at Federal COVID Contractors Reveals Inexperience, Fraud Accusations, and a Weapons Dealer Operating Out of Someone’s House
ProPublica is a nonprofit newsroom that investigates abuses of power. Sign up to receive our biggest stories as soon as they’re published.
CMHC sees declines in home prices, sales, starts that will linger to end of 2022
Canada's housing sector will see a retreat in prices, sales and building in the months ahead and likely won't see a return to pre-pandemic levels until at least the end of 2022, said Canada Mortgage and Housing Corp. in an outlook released Wednesday.
Trump’s Economic Advisers Are Wrong
Forget a V-shaped recovery, or even a U.
Why NIO Stock Is Rising Today
An analyst upgrade ahead of earnings is giving shares a boost.
Boeing slashes 12,000 jobs as virus seizes travel industry
Boeing is slashing around 10 per cent of its workforce, and the aircraft maker says more cuts are coming.
Reserve Bank paints sobering picture of SA financial (in)stability
The South African Reserve Bank has just published its first Financial Stability Review for 2020. It makes for sober reading ahead of the expected end of prohibition.
More than 17,000 parked planes: Visualizing the pandemic’s impact on air travel
The coronavirus pandemic has brought commercial air travel to a near standstill, and the empty skies mean airlines around the world are facing some tough questions about how long their planes will be parked and what a longer interruption to air travel could mean for the industry as a whole.
Biotech Stocks Have Been on Fire, But Timing Is Everything
Consensus is that the experts will find a vaccine to Covid-19 soon, so the biotech stocks have rallied hard. Buying them now carries risk.
General Electric News: GE Stock Lights Up 8% on Light Bulb Business Sale
General Electric (GE) news for Wednesday concerning the sale of the company's lighting business has GE stock taking off.
Tractor Supply News: Why TSCO Stock Is Surging 8% Today
Tractor Supply (TSCO) is in the news Wednesday after revealing an incredibly strong outlook for the second quarter of 2020.
Why Patience Is Key When It Comes to DraftKings Stock
The sports betting market offers a huge growth runway and DraftKings stock is a play on it, but the share price has gotten too high.
Netflix Stock Is a Win No Matter Where the Pandemic Goes
NFLX stock is more than just a pandemic play. The firm will likely continue to perform in the quarters ahead despite the economic downturn.
Merkel vows a ‘tough fight’ with Brussels over Lufthansa rescue
Merkel and Vestager brace for a fight over how far Berlin can go to save its flag carrier.
Virus sparks record drop in energy investment: IEA
All the energy sectors -- oil, gas, renewables -- everything is affected but the biggest impact is on shale oil, the agency's director Fatih Birol said
McDonald's reveals when they're reopening all UK drive-thrus
The chain has announced it will reopen all of its drive-thrus and many more restaurants for delivery.
Indian banks need $20 billion additional capital as credit quality weakens: Credit Suisse
The lenders would require extra capital in the coming 12 months as credit quality declines, resulting in wider provisioning
COVID-19 lockdown: Tourism ministry extends validity of approval, classification of hotels till June end
Due to the postponement of inspection work and application scrutiny during the lockdown period, it has decided to allow six months' relaxation or extension to all categories of tour operators.
How COVID-19 has changed the face of insurance industry and the role digital can play
The emerging trends post COVID crisis can be far-reaching. Pandemics can be short-lived, but the economic impact can be long-term.
Nationwide lockdown may shrink India’s GDP by this much in Q1; SBI gives hope for Q2
The contraction in the Q1 FY21 GDP may be as high as 40 per cent.
ICC Board Meeting: World T20 to be postponed to 2022, October window for IPL
Some of the issues that BCCI as well as all other stakeholders will be dealing with include, limited or no spectators as per ICC regulations.
Birla Corporation share price rockets 40% in two days, cement shares gain as demand picks up
Among other cement and cement products stocks, Dalmia Bharat shares surged 8 per cent and Anjani Portland Cement shares advanced 11.42 per cent.
Covid-19 pandemic to accelerate digital adoption in India: Morgan Stanley
Morgan Stanley said Covid-19 has relieved some apprehension relating to digital transactions
Kolkata Metro Railway to start trial run of trains for maintenance
Preparations have begun for restarting metro services in the city with stress on maintaining social distancing at stations and inside the trains
Govt may launch coal blocks auction under commercial mining on Jun 11
The government last week approved a methodology for commercial mining of coal on revenue sharing basis
UP eyeing post-covid investment from US, Japan, Korea: Industry minister
Admits labour migration posing a challenge to industrial revival; no special approval needed to start operations for new MSME units for next 3 years
Aditya Birla Fashion plans to launch Rs 1,000-cr rights issue: Official
The rights issue is part of their objectives of reducing leverage, strengthening balance sheet apart from funding general corporate expenses, including working capital
Blue Dart: Muted volumes, revenues amid high costs to weigh on margins
Given the sharply lower operating performance, the company reported a loss (after adjustments) of Rs 8 crore as compared to analyst estimates which had pegged the profit number at Rs 30 crore
UP to bring industry chambers on board for providing jobs to migrants
So far, the state has evacuated more than 2.5 mn stranded workers
France GDP could fall 'around 20%' in second quarter: Statistics agency
France's economy could contract by around 20 per cent in the second quarter as lockdown measures meant to slow the spread of the coronavirus slashed activity, the national statistics agency INSEE
Japan doubles down on stimulus with extra $1 trillion in aid
Package includes financing for companies, rent subsidies and healthcare assistance
City of Cape Town offers rates and service relief in revised budget
Due to the loss in revenue and the impact the lockdown has had on local economies, the City of Cape has revised its 2020/21 budget to boost the economy and to offer service relief packages. It was approved on Wednesday.
Apple will reopen 100 stores in the U.S. this week
Apple is reopening 100 more retail stores in the United States this week that it was forced to close because of the coronavirus, though customers won't be able to enter many of them just yet.
Peloton Stock Is Only a Buy On the Next Pullback
PTON stock has rallied as demand has skyrocketed. But the rally looks like it's gone a bit too far. Investors would do well to stay patient.
It’s Not a Fantasy to Believe in DraftKings
Although the fans may not be there, pent-up demand from so many people going without should help drive up DKNG.
7 Cheap Stocks to Buy With Great Potential
In times of market turbulence, cheap stocks offer a unique way to escape the broad moves up and down and instead benefit from big potential.
Volkswagen India introduces leasing, flexible financing options to drive sales amid COVID-19
The Volkswagen Secure and Power Lease initiatives provide customers the power and independence to purchase their favourite Volkswagen in a hassle-free, contactless and digitalised manner, Volkswagen Passenger Cars India Director Steffen Knapp said.
Sunway Bhd launches cash call to raise up to RM1.11b
KUALA LUMPUR, May 27 — Sunway Bhd, which today reported a 42.6 per cent drop in first-quarter (Q1) net profit to RM78.29 million, has proposed to a renounceable rights issue to raise up to RM1.11 billion. The company is planning to issue up to 1.11 billion new irredeemable convertible preference...
Global stocks are mixed after Trump promised 'interesting' action against China, while Europe awaits a huge new stimulus package
Global stocks are mixed Wednesday as investors weigh rising US-China tensions and the growing implications of a new draconian law on Hong Kong, ...
India among major markets to see increase in ATM usage over 2019
Almost half of the world’s major markets saw an increase in the use of ATMs over 2019, despite the global push towards cashless payments which has intensified due to the coronavirus outbreak in recent months.
Ask the expert: how can I improve my success rate creating partnerships?
In this fortnightly column, Ask The Expert, we aim to provide readers with practical advice on how to grow their businesses.
JP Morgan to deploy Calastone tech for automated settlement
JP Morgan has signed a partnership agreement with Calastone which will see it deploy the latter’s technology to enhance its settlements processes.
Unibank completes processing stage of TranzAxis migration
Azerbaijan-based Unibank has connected its in-house processing directly to Mastercard, a step towards its full migration to Compass Plus’s open payments platform TranzAxis.
Hyundai Capital America goes live with Sopra’s Cassiopae
Hyundai Capital America (HCA), the captive finance arm of Hyundai Motor Company, has gone live on Sopra Banking Software’s Cassiopae system.
UBS to set up fintech venture fund to speed up its digitisation
UBS is looking to invest “hundreds of millions” of its own money in “dozens” of fintechs, in a move to finance start-ups which are disrupting the banking industry.
Connect First Credit Union appoints former ATB exec as new COO
Canada’s Connect First Credit Union has announced the appointment of Wellington Holbrook as its chief operating officer.
Supply side inflation easing
Via the excellent Damien Boey at Credit Suisse:
Apple finally lets Indian users custom configure MacBooks and Mac Pros
Apple is finally allowing Indian customers to purchase customized, configure-to-build Mac and MacBook variants. This move gives Indian Mac buyers much-needed flexibility in terms of RAM, storage, and CPU/GPU configurations.
Trade War 2.0 or worse? Trump strips Hong Kong of it's special trading status, dramatically escalating US-China tensions
In a move that will almost certainly have an impact on global consumer tech supply chains, US President Donald Trump's administration dramatically escalated simmering tensions with China by revoking Hong Kong's special trade status.
Trade War 2.0 or worse? Trump strips Hong Kong of its special trading status, dramatically escalating US-China tensions
In a move that will almost certainly have an impact on global consumer tech supply chains, US President Donald Trump's administration dramatically escalated simmering tensions with China by revoking Hong Kong's special trade status.
The US gaming headset market is found to have hit new heights as of April 2020
A new market research report states that the gaming headset sector broke records in terms of US retail sales in April 2020. This study also found that 8 of the 10 best-selling devices in this category were from the brand Turtle Beach. Of these, its Stealth 600 has accrued the most revenue in 2020 so far.
Azam named top African Brand
Azam was on Sunday named one of the most admired African brands.The Azam non-cyclical consumer segment emerged as one of Most Admired African Brands (prompted) in this year’s Brand Africa.
Motorola On A Roll As Retailers & Carriers Take On New Models
It was a great US smartphone brand, that became the #1 brand in Australia, their hero was the Motorola Razr then it all fell apart because of a lack of competitive Android based products, that was until now.
Morgan Stanley Tip Westfield Malls Best Set To Recover
Morgan Stanley analysts predict Scentre-owned Westfield will be among the best set shopping malls for recovery amidst the coronavirus pandemic.
VTA’s suggestion to MSME Minister Gadkari on GECL
Recently Government of India notified the Rs. 3 lakh crore Guaranteed Emergency Credit Line (GECL) Scheme for Medium, Small and Micro Enterprises (MSMEs) under the Atma Nirbhar Bharat Abhiyan to assist them surge over the economic distress being faced due to the COVID-19 pandemic. Under this GECL scheme, MSMEs borrowers having Rs 25 crores of […]
Global mobile phone shipments to decline 14.6% in 2020: Gartner
Due to impacts of Covid-19, shipments of total mobile phones are forecast to decline 14.6 percent in 2020
India’s GDP growth seen at 1.2% for Q4 Financial Year 2020
Country's GDP is estimated to have grown at 1.2 percent in the last quarter of the previous fiscal as economic activity came to a standstill in the last week of March due to the nationwide lockdown.
Teaching people to fish
What’s in a number? For some, it means a lot. For others, it reveals nothing. The reality, however, lies somewhere in between.
French Tennis Federation to help lowly ranked players financially
The French Tennis Federation (FTF) will shortly launch a relief fund totaling 35 million Euros next week, with a million Euros
GHMC collects Rs 331 cr property tax so far
Despite the State government extending a five per cent rebate on property tax to all structures, including commercial buildings
445 domestic flights carrying 62,641 passengers operated on Tuesday: Aviation Minister
A total of 445 domestic flights, carrying 62,641 passengers, were operated on Tuesday
Bharti Telecom sells 2.75% stake in Airtel
Bharti Telecom has sold 2.75 percent stake in Airtel to institutional investors in the secondary market, raising over Rs 8,433 crore
New warehousing facility to come up at Kothur near Hyderabad
Embassy Industrial Parks, a joint venture between the Embassy Group and Warburg Pincus that is into logistics and warehousing, is in advanced stages of acquiring land near Kothur to develop a warehousing facility, according to a top official.
Stock markets in retreat as China-US tensions return to fore
Asian equities mostly fell Wednesday as profit-taking and worries about deteriorating China-US relations outweighed optimism over the gradual reopening of economies around the world.
Russians fix vibration, N-power unit restarts at Kudankulam
The second 1,000 MW atomic power plant of Nuclear Power Corporation of India Ltd (NPCIL) at Kudankulam that was shutdown
India facing its worst recession in current fiscal: Crisil
India's fourth recession since independence, the first since liberalisation and perhaps the worst to date, is here, Crisil said on Tuesday
Gofrugal helping small retailers go digital
As the country came to a shutdown due to Covid-19, neighbourhood stores have emerged true heroes by being there for customers
COVID-19 to accelerate digital adoption in India
COVID-19 is expected to accelerate digital adoption in India and as online trends take shape, behavioural modification could strengthen, with contactless shopping, payments.
Floor trading resumes at NYSE, with masks and plexiglas
New York Stock Exchange, the symbolic heart of Wall Street, reopened its floor Tuesday after a two-month closure due to the coronavirus, with traders donning masks and separated by plexiglas.
CM KCR calls for austerity measures
Pointing out that the income from transport, registration and other departments was not something to write about, CM KCR said the State will have to make do with whatever meagre income it was generating
Patanjali to raise Rs 250 cr through debentures
Baba Ramdev-led Patanjali Ayurved plans to issue debentures worth Rs 250 crore that will be used to meet its working capital requirements and strengthen supply chain network.
Irish Times view on Europe’s relations with China: Into the East Asian century
China has deployed a twin-track strategy of soft and hard-power diplomacy
Government ‘missed opportunity’ not saving company tax windfalls, Ifac says
Budgetary watchdog says Republic ‘could have been running a much bigger surplus’ in recent years
Retail stores allowed to reopen in city of Los Angeles, Garcetti says
Small retail stores in the city of Los Angeles will be allowed to reopen starting Wednesday, Mayor Eric Garcetti announced.