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.

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

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.

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

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.

Renault-Nissan announce plan to deepen cooperation to ensure group's survival

Renault SA , Nissan Motor Co and Mitsubishi Motors Corp on Wednesday announced details of a new strategy plan pledging to deepen cooperation in ...

BPCL privatisation bid deadline extended; check new date

The company distributes 21 per cent of petroleum products consumed in the country by volume as of March this year.

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

Indian economy may expand by around 5% in FY22: Ex-RBI governor Subbarao

According to Subbarao, the country is going to face its worst recession in the current financial year

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

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.

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...

Court hears 14 ‘credible’ expressions of interest in Joe.ie company

Examiner appointed to Maximum Media Network

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.

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

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.

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

Saudi Arabia’s private sector employees to return to their offices

RIYADH: Private sector employees will be able to start working from their offices soon, Saudi Arabia’s Ministry of Human Resources and Social Development said on Wednesday. The ministry added that all private sector entities must prepare work spaces so that they are in line with Ministry of Health guidelines to prevent the spread of COVID-19. The Kingdom is easing coronavirus

America’s threat to delist Chinese companies could make everybody better off

Far from confirming fears of a widespread delisting of Chinese firms, a proposed U.S. law will likely improve the investment environment.

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

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, 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

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.

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.

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.

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

10 Value Stocks to Buy From the Vanguard U.S. Value Factor ETF

The gap between expensive stocks and cheap value stocks to buy is wider than it has ever been. That's an opportunity for investors.

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.

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.

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

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.

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...

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.

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.

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.

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

IndoStar Capital Finance raises Rs 1,225 crore

IndoStar has assets under management of around Rs 10,200 crore and has nearly 70,000 customers.

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

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

Tesla: China Trade War Risk

President Trump will use China virus in his re-election campaign. Chinese government and consumers may push back on US companies. Stronger US Dollar will impact

Better Buy: IBM vs. McDonald's

Learn which iconic brand is positioned for success after the COVID-19 pandemic.

We're In A Recession, Start A Company

We are in a severe recession with a lot of bad news, yet the amount of effort being put out to build new companies and restructure old companies is amazing. Is

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.

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.

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

Best tax software 2020: TurboTax, H&R Block, and more

In order to determine the best tax software, we reviewed offerings from about a dozen online tax preparers like TurboTax, H&R Block, and TaxAct.

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.

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

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

Applied Materials Could Be The First U.S. Victim China Sanctions

Applied Materials' acquisition of Hitachi Kokusai Electric is being held up awaiting regulatory approval from China. Hitachi Kokusai holds a strong position in

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.

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.

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.

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

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.

Surprising Euro Strength

Italian public finances are rapidly becoming unsustainable without the ECB buying large quantities of its debt, the Merkel/Macron plan is no alternative. Withou

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

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.

Indians are the most anxious over Covid fallout

Deloitte survey puts them at the top of a global anxiety index

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

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

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

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.

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

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.

Pennsylvania lawmakers unveil two-part budget plan

Pennsylvania lawmakers unveiled a two-part budget strategy this week as uncertainty over the state’s tax revenues grows.

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

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.

Air New Zealand Carepoints Donations Ramp Up

Just five days after the launch of the Air New Zealand Carepoints™ programme, the airline’s Airpoints™ members have already donated more than 172,000 Airpoints Dollars™ to Kiwis in need, smashing the initial 150,000 donation target.

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.

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.

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

Venus Concept Inc.: A COVID-19 Casualty That Makes A Case For Recovery

Venus Concept develops, commercializes, and delivers minimally invasive and non-invasive medical aesthetic and hair restoration technologies and related aesthet

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...

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.

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?

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.

Should your long-term plans go on hold in these volatile times?

Adam Rhodes, Managing Director of Rhodes Wealth Management, shares his thoughts on the current market climate

Two coronavirus-related deaths reported in North

Number of fines for breaches of social distancing guidelines drops by 90%

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.

NABARD gets its new chief, G R Chintala

How about giving the middle class a break?

They are the heart of India’s consumption engine but seldom get a policy look-in

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.

Govt orders probe against Jaiprakash Associates, Jaypee Infratech

The Jaypee group has already sold many cement and power plants to reduce its debt

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.

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.

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

S&P 500 Price Analysis: Pushing against the 3000 level on hopes of economic recovery

The S&P 500 Index has retrieved the whole coronavirus slump to reach levels beyond 3000 for the first time since early March. Investor’s optimism abou

GBP/USD extends losses and approaches 1.2200

The cable is dropping sharply on Wednesday, losing nearly 1% on the day after having peaked at 1.2353 to reach levels right above 1.2200. Investor’s

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

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

WTI tumbles more than 5% toward $32.00

WTI (July futures on Nymex) broke to the downside and lost 4% in a few minutes, falling to $32.10, the lowest level since last Friday. The price is lo

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

Gold Price Analysis: XAU/USD declines to 2-week lows, challenges $1700/oz

XAU/USD is losing considerable strength while trading below the main SMAs on the four-hour chart. Gold is slowly reversing its monthly gains while challenging

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.

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

Petropavlovsk PLC (PPLKF) CEO Pavel Maslovskiy on Q4 2019 Results - Earnings Call Transcript

Petropavlovsk PLC (OTC:PPLKF) Q4 2019 Results Earnings Conference Call May 27, 2020, 03:30 AM ET Company Participants Patrick Pittaway - Head of Investor Relati

Don’t Rush to Buy Delta Stock, There’s Plenty of Time to Bottom Fish

While bottom fishers are scooping up airline stocks, DAL stock looks unlikely to make a significant recovery anytime soon.

Retail Reopening Hinges On Dangerous Discounts

Retailers want to bring shoppers back into stores, but discounting could have repercussions.

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.

'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

New Lenders Approved for CBILS

The British Business Bank has announced the approval of four new lenders for accreditation under the Coronavirus Business Interruption Loan Scheme (CBILS). The

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.

SA plans R357bn infrastructure fund, ANC says

Focusing on ‘network industries’ such as rail and ports, energy, broadband connectivity, water, sanitation and human settlements.

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.

Realtors dismiss 'nightmare'

Canada Mortgage and Housing Corp. (CMHC) released a housing forecast May 27 that envisioned a nightmare collapse of the housing market with national sales dropping up to 29 per cent, starts plunging by 50-70 per cent and average house prices dropping as much as 18 per cent with no real recovery until 2022.

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

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.

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

Stocks mixed as tech sector weighs on the market

Stocks were mixed Wednesday as a decline in tech shares kept the gains in check.

PNC Financial Services Group Inc. Decreases Stock Holdings in Best Buy Co Inc (NYSE:BBY)

PNC Financial Services Group Inc. trimmed its stake in shares of Best Buy Co Inc (NYSE:BBY) by 4.6% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 41,823 shares of the technology retailer’s stock after selling 2,035 shares during the period. PNC Financial Services Group […]

S&P/TSX composite down as materials sector falls, U.S. stocks mixed

TORONTO — Canada's main stock index was down in late-morning trading as strength in the financial sector couldn't offset broad-based weakness on the Toronto Stock Exchange led by the materials sector. The S&P/TSX composite index was down 139.

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

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

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

Liquor outlets in Kerala to open on May 28; new app to regulate customers

Using the mobile app, people will receive an e-token to book the time slot to visit the nearest outlet and this would reduce the crowds seen earlier, State Excise Minister T P Ramakrishnan said. The state-run liquor outlets and other bar and beer and wine shops were closed since March 24, when the centre declared nati

BC Ferries losing up to $1.5 million each day as pandemic tanks ridership

The company does not qualify for the wage subsidy

Some Aer Lingus cabin crew to be temporarily laid off

Aer Lingus has told its Shannon-based cabin crew that they are to be temporarily laid off, while those based in Dublin and Cork are to see rosters and pay reduced from 50% to 30% of normal.

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.