(Reuters) – The investment chief of CalPERS, Yu Ben Meng, has resigned effective immediately, the largest public U.S. pension fund said on Wednesday, amid pressure from the Trump administration to curb investments in China. Dan Bienvenue, deputy chief investment officer at the California Public Employees’ Retirement System (CalPERS), will become interim chief investment officer, the […]
NEW YORK (Reuters) – Metlife Inc (MET.N) said on Thursday it assumes U.S. deaths from COVID-19 will rise to about 200,000 by the end of September, but that the disease is having minimal overall impact on underwriting. “We continue to anticipate modest underwriting impacts from COVID-19 on a combined basis, assuming death rises in the […]
WASHINGTON (Reuters) – Asia futures were mixed on Wednesday and gold traded mixed, after U.S. and European equities gained overnight on strong earnings results. Hong Kong futures were 0.01% lower, while Nikkei futures were trading slightly above the Nikkei 225 index’s previous close and Australian shares were set to track Wall Street higher. Spot gold […]
Exclusive: Republican senators back extending $25 billion payroll aid for U.S. airlines; shares jump
WASHINGTON (Reuters) – A group of Senate Republicans on Wednesday backed extending a $25 billion payroll assistance program for U.S. airlines after warnings that carriers may be forced to cut tens of thousands of jobs without government action, according to a letter seen by Reuters. Airline stocks moved sharply higher on the news, which was […]
WASHINGTON/LONDON (Reuters) – Virgin Atlantic Airways Ltd is seeking protection from creditors in the United States under Chapter 15 of the U.S. Bankruptcy Code, which allows a foreign debtor to shield assets in this country, according to a court filing on Tuesday. Virgin Atlantic’s filing in U.S. bankruptcy court in the southern district of New […]
(Reuters) – Wall Street was mixed on Tuesday, buoyed by Apple and energy stocks but pulled lower by AIG and Microsoft, as investors awaited more U.S. government stimulus to reduce economic fallout from the coronavirus pandemic. Apple (AAPL.O) climbed 1%, up for a fifth straight session as investors cheered the iPhone maker’s blowout quarterly report […]
WASHINGTON/LONDON (Reuters) – Virgin Atlantic Airways Ltd is seeking protection from creditors in the United States under Chapter 15 of the U.S. Bankruptcy Code, which allows a foreign debtor to shield assets in this country, according to a court filing on Tuesday. Virgin Atlantic’s filing in U.S. bankruptcy court in the southern district of New […]
MILAN (Reuters) – Italy’s Atlantia (ATL.MI) said on Tuesday it had encountered “concrete difficulties” in talks with state lender Cassa Depositi e Prestiti (CDP) over CDP’s planned investment in its Autostrade per l’Italia and was studying alternative options. The infrastructure group is now considering the sale of its entire 88% stake in Autostrade through a […]
(Reuters) – The S&P 500 and Dow crept higher on Tuesday as investors held out for more U.S. government stimulus, but strained Sino-U.S. relations over TikTok and disappointing quarterly earnings from Ralph Lauren and AIG curbed gains. Ralph Lauren Corp (RL.N) slumped 6.5% to its lowest since mid-May after quarterly revenue plunged by nearly $1 […]
WASHINGTON (Reuters) – New orders for U.S.-made goods increased more than expected in June, suggesting the manufacturing sector was regaining its footing, though rising COVID-19 cases threaten the tentative recovery. The Commerce Department said on Tuesday factory orders rose 6.2%, boosted by a surge in demand for motor vehicles, after rebounding 7.7% in May. Despite […]