Thursday, 2 Jul 2020

Business

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Exclusive: Boeing kept FAA in the dark on key 737 MAX design changes – U.S. IG report

WASHINGTON/SEATTLE/CHICAGO (Reuters) – Boeing Co (BA.N) failed to submit certification documents to the U.S. Federal Aviation Administration (FAA) detailing changes to a key flight control system faulted in two fatal crashes, a long-awaited government report seen by Reuters has found. The flight control system, known as MCAS, was “not an area of emphasis” because Boeing […]

From Enron to Wirecard, Big Four accounting firms haven't fixed their problems

NEW YORK (BLOOMBERG) – Two decades of financial disasters from Enron’s collapse in 2001 to Wirecard’s meltdown have left the Big Four accounting firms facing a major cultural problem that regulators may struggle to resolve. The 1.9 billion euros (S$3 billion) missing from Wirecard’s balance sheet brought the chief executive officer’s arrest, the German payments […]

European shares tepid at the end of strong quarter

(Reuters) – European shares were largely flat on Tuesday as investors booked some profits following a strong quarterly rebound, while improving China factory data and hopes of more U.S. stimulus buoyed sentiment in Asia. The pan-European STOXX 600 index looked set to post its biggest quarterly gain since March 2015 with a 12.5% rise, as […]

UK economy shows biggest drop in 40 years in early 2020

LONDON (Reuters) – Britain’s economy shrank by the most since 1979 in early 2020 as households slashed their spending, according to official data that included the first few days of the coronavirus lockdown. Gross domestic product dropped by a quarterly 2.2% between January and March, the Office for National Statistics (ONS) said. That was below […]

Wall St. gains on Boeing bump, remdesivir hopes

(Reuters) – Wall Street climbed on Monday and the S&P 500 moved closer to clinching its biggest quarterly gain since 1998 as investors clung to hopes of a stimulus-backed economic rebound, while Boeing shares shot higher to help boost the blue-chip Dow. The planemaker’s (BA.N) shares jumped 10.2% after a 737 MAX took off on […]

Wall Street ends higher on Boeing bump, stimulus eyed

NEW YORK (Reuters) – Wall Street stocks closed higher on Monday and the S&P 500 was poised to clinch its biggest quarterly percentage gain since 1998 as investors hoped for a stimulus-backed economic rebound, while a surge in Boeing shares helped boost the blue-chip Dow. The planemaker’s (BA.N) shares jumped more than 14% after a […]

Coronavirus: Cheers! 1.5m extra pub-goers expected this weekend

Britons are expected to spend £210m in pubs when they reopen in England this weekend. Research predicts that more than a third of adults in the UK plan to visit a pub in the first week of trading after bars were closed in March due to the coronavirus outbreak. The Centre for Economics and Business […]

Latin America's airline apocalypse signals a future with weak competition

SAO PAULO (Reuters) – Bankrupt LATAM Airlines (LTM.SN) and Avianca Holdings AVT_p.CN are dramatically retrenching their once grand ambitions amid the COVID-19 pandemic, reducing competition in Latin America as they mull once-unthinkable cooperation with rivals. Since May, LATAM has exited Argentina, partnered with rival Azul SA (AZUL.N) in Brazil and cut back domestic operations in […]

Asia stocks slip as coronavirus cases surge

SYDNEY (Reuters) – Asian share markets got off to a shaky start on Monday as the relentless spread of the coronavirus finally made investors question their optimism on the global economy, benefiting safe harbour bonds and the U.S. dollar. MSCI’s broadest index of Asia-Pacific shares outside Japan eased 0.2% and further away from a four-month […]