The pandemic is taking a big bite out of automobile sales in Colorado this year, with consumers registering 16.7% fewer new vehicles in the first half of 2020 than they did in the first half of 2019, according to the latest Colorado Auto Outlook from the Colorado Automobile Dealers Association. That works out to 22,286 […]

HONG KONG (BLOOMBERG) – HSBC Holdings is planning a big boost to its wealth management staff in China in a bid to lift its sagging profits, increasing its presence in the face of mounting political tensions between Beijing and Western governments. In conjunction with its earnings release on Monday (Aug 3), which revealed first-half profit halved, […]

MELBOURNE/SINGAPORE (Reuters) – Oil prices slid on Tuesday amid concerns that a nascent recovery in fuel demand could stall as a fresh wave of COVID-19 infections around the world sparks tighter lockdowns just as major producers ramp up output. U.S. West Texas Intermediate (WTI) crude futures fell 30 cents, or 0.7% to $40.71 a barrel […]

TOKYO/WASHINGTON (Reuters) – Asian shares rose on Tuesday after strong U.S. manufacturing data and gains in tech stocks helped investors look past broader worries about the coronavirus and global economy. MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS rose 1.05%, but shares in China .CSI300 edged 0.17% lower. Australian stocks gained 2% for the […]

NEW YORK (Reuters) – Chipotle Mexican Grill Inc wants to hire another 10,000 employees in coming months as its sales rebound, an official said, one of several big restaurant chains looking to add staff in an economy otherwise dimmed by the coronavirus pandemic. The fast-casual brand, known for its Mexican-inspired bowls and burritos, has already […]

SINGAPORE (THE BUSINESS TIMES) – United Overseas Bank (UOB) on Monday (Aug 3) launched its digital bank TMRW in Indonesia. This follows from TMRW’s first launch in Thailand in March 2019, and is part of the regional bank’s strategy to accelerate growth and scale up its regional customer franchise to capture a $10 billion market […]

(Reuters) – U.S. astronauts Bob Behnken and Doug Hurley, who flew to the International Space Station in SpaceX’s new Crew Dragon, splashed down in the capsule in the Gulf of Mexico on Sunday after a two-month voyage that was NASA’s first crewed mission from home soil in nine years. Behnken and Hurley, tallying 64 days […]

NEW YORK/LONDON (Reuters) – A group of Argentina’s creditors has contacted the Institute of International Finance and other global bodies for support to amend legal clauses in its sovereign bond restructuring, a spokesman for the organisation said. Buenos Aires is trying to clinch a deal to restructure around $65 billion in foreign debt by Tuesday, […]

WASHINGTON (Reuters) – The U.S. Congress is in position to spend big on coronavirus relief efforts because the nation’s budget gap can be financed without relying on foreign borrowing, given how much Americans are saving, a top Federal Reserve official said on Sunday. “Those of us who are fortunate enough to still have our jobs, […]

SINGAPORE (BLOOMBERG) – Societe Generale is closing its trade commodity finance unit in Singapore after the collapse of Hin Leong Trading prompted the bank to halt fresh funding to such firms in the region. The bank is dismissing all front office staff dealing with transactions, while still keeping some administrative workers, people with knowledge of […]