LONDON/SYDNEY (Reuters) – World stocks held near three-month highs and the euro also remained close to a three-month peak, thanks to a larger than expected European stimulus boost and on hopes of a global economic rebound. Investors are pricing in an economic recovery despite data showing the severe damage wrought by coronavirus lockdowns. Later in […]
WASHINGTON (Reuters) – The U.S. unemployment rate likely shot up to almost 20% in May, a new post World War Two record, with millions more losing their jobs, exposing the horrific human toll from the COVID-19 crisis. The Labor Department’s closely watched monthly employment report on Friday could bolster economists’ dire predictions that it would […]
HONG KONG/LONDON (Reuters) – Senior British politicians criticised HSBC (HSBA.L) and Standard Chartered (STAN.L) on Thursday after the banks backed China’s national security law for Hong Kong, in conflict with the British government’s opposition to the proposed legislation. In a break from their usual policy of political neutrality, the British banks on Wednesday expressed support […]
WASHINGTON (Reuters) – A massive Pennsylvania plastics project that President Donald Trump touted during a visit last year faces risks of oversupply and a low price outlook for the materials, a report by an institute that examines energy issues said on Thursday. The Pennsylvania Petrochemical Complex plant in Beaver County, owned by Shell, has been […]
SEOUL (Reuters) – South Korean prosecutors have requested an arrest warrant against Samsung Group heir Jay Y. Lee, they said on Thursday, in the investigation of a controversial 2015 merger and alleged accounting fraud in a suspected bid to aid his succession plans. The move spells fresh trouble for Lee, who, if arrested, faces a […]
TOKYO/NEW YORK (Reuters) – Asian shares rose to a two-month high on Thursday as government stimulus expectations supported investor confidence in an economic recovery from the global coronavirus pandemic. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.4%, earlier touching the highest since March 9. Shares in Australia rose 0.66% after the country’s prime […]
(Reuters) – Amazon.com Inc (AMZN.O) said on Wednesday it leased 12 Boeing 767-300 converted cargo aircraft from Air Transport Services Group Inc (ATSG.O), bringing its total fleet to more than 80, as it pushes for faster delivery to meet a surge in online orders. One of the new aircraft joined the online retailer’s operations in […]
(Reuters) – Citigroup Inc (C.N) said on Wednesday its chief compliance officer Mark Carawan is retiring after eight years at the firm, effective June 8. The third-largest U.S. lender said Carawan will be replaced by Mary McNiff, the current chief executive officer of Citibank N.A., the firm’s primary banking vehicle. Citigroup chief executive Michael Corbat […]
NEW YORK (Reuters) – A gauge of global equity markets rose and the euro gained against the dollar on Wednesday, both for a seventh session, in signs of strong risk appetite as easing lockdowns and hopes for more monetary stimulus boosted investor confidence. Investors shed safe-haven assets such as gold and government debt on encouraging […]
WASHINGTON (Reuters) – U.S. private payrolls fell less than expected in May, suggesting layoffs were abating as businesses reopen, though the overall economy’s recovery from the COVID-19 pandemic will be slow. The ADP National Employment Report on Wednesday showed private employers laid off another 2.76 million workers last month after a record 19.557 million in […]