ANZ New Zealand’s cash profit has slumped 29 per cent to $1.371 billion in the financial year to September 30 as the bank was hit by a rise in credit impairments driven by Covid-19. The country’s largest bankwhich is owned by the ASX-listed ANZ revealed its financial results this morning. ANZ New Zealand saw its […]
NEW YORK (Reuters) – Wall Street’s “fear gauge” is on track for its biggest weekly jump since March as investors worried about rising U.S. and European coronavirus cases, the lack of fiscal stimulus and uncertainty about the U.S. presidential election outcome.Slideshow ( 2 images )The Cboe Volatility Index .VIX surged on Wednesday to its highest […]
Slideshow ( 2 images )WASHINGTON (Reuters) – Top Republican Senator Marco Rubio has introduced legislation to block access to U.S. capital markets for Chinese companies that have been blacklisted by Washington, threatening a blow against Chinese firms that rely on U.S. investors for funding. The bill, which Rubio submitted late on Monday, would bar U.S. […]
SINGAPORE (THE BUSINESS TIMES) – The Urban Redevelopment Authority (URA) on Tuesday launched a residential-with-commercial site for tender, while JTC launched two industrial land plots – one via tender and another for application. URA put up the Northumberland Road site near Farrer Park for sale via public tender. The land plot is zoned residential with […]
NEW YORK (REUTERS) – Charles Schwab Corp said on Monday (Oct 26) it is laying off about 1,000 positions in the combined workforce of Charles Schwab and TD Ameritrade to streamline and reshape their branch network. “These reductions are part of our efforts to reduce overlapping or redundant roles across the two firms,” Charles Schwab, […]
The stock market had its worst day in a month as virus cases surge and help for the economy from Washington remains nowhere in sight. The S&P 500 fell 1.9 per cent Monday, deepening its losses from last week. Stocks of companies that need the virus to abate and the economy to return to normal […]
(Reuters) – U.S. stocks decline picked pace on Monday afternoon, setting the Dow for its worst day in more than seven weeks, as soaring coronavirus cases and a political deadlock over the fiscal relief bill raised doubts about the fate of the economy recovery.FILE PHOTO: The Wall Street sign is pictured at the New York […]
After nosediving from March through May as lockdowns devastated US household spending, consumer prices rebounded in the following four months. Some fear this is the start of a resurgence of inflation. The Federal Reserve Bank of New York’s survey of consumer inflation expectations shows a jump from 2.4 per cent to 3 per cent for […]
Welcome to the weirdest (and legitimately scariest) Halloween week ever. Surprisingly, candy sales are up this year — perhaps it’s the stress eating? Here’s what you need to know in business and tech news going into Monday. — Charlotte Cowles What’s Up? (Oct. 18-24) Anti-Monopoly Moves The federal government is finally making good on its […]
The coronavirus crisis and the US election have driven fears of a major market crash to the highest levels in many years. At the same time, stocks are trading at very high levels. That volatile combination doesn’t mean that a crash will occur, but it suggests that the risk of one is relatively high. This […]