NEW YORK/LONDON (Reuters) – Global equity markets edged lower on Friday as Beijing moved to impose a new security law on Hong Kong after last year’s pro-democracy unrest, further straining U.S.-China ties that cast a pall over recovery prospects and sent oil prices tumbling. News that China also dropped its annual economic growth target for […]

Carluccio’s has been rescued in a deal which will save 30 restaurants but result in more than 1,000 job losses. The dining chain has been bought by Giraffe and Ed’s Easy Diner owner Boparan Restaurant Group (BRG), two months after it slid into administration. The deal, first reported by Sky News earlier this week, will […]

SYDNEY (Reuters) – Australian retail giant Wesfarmers Ltd (WES.AX) said it will close or rebrand nearly two-thirds of its Target department stores and take one-off charges totalling up to A$650 million ($426 million) as it reels from the coronavirus fallout. The move strikes a blow to what was once among Australia’s most durable retail brands […]

NEW YORK (BLOOMBERG) – After years of stress testing, financial companies might have been better positioned to withstand a market shock such as that triggered by the coronavirus. Instead, they’re standing out as persistent losers. Down 29 per cent since January, banks and insurers have trailed the S&P 500 by 20 percentage points, their worst […]

TOKYO (Reuters) – Hong Kong shares tumbled on Friday after Beijing moved to impose a new security law on the city after last year’s pro-democracy unrest, risking fresh protests and further straining fast-deteriorating U.S.-China ties. Hong Kong’s Hang Seng index .HSI fell 3.7% to a seven-week low, helping to pull down MSCI’s broadest index of […]

MEXICO CITY (Reuters) – General Motors Co (GM.N) said on Thursday it was gradually restarting the transmission and motor lines at its Mexican facilities in Silao and Ramos Arizpe, while U.S. auto parts maker Lear Corp (LEA.N) also geared up for production. GM Mexico said the assembly plants at Ramos Arizpe in the northern state […]

BENGALURU/LONDON (Reuters) – The United States has secured almost a third of the first 1 billion doses planned for AstraZeneca’s experimental COVID-19 vaccine by pledging up to $1.2 billion, as world powers scramble for medicines to get their economies back to work. While not yet proven to be effective against the coronavirus, vaccines are seen […]

CHICAGO (Reuters) – U.S. frozen pork inventories fell in April, when they typically rise, and beef inventories dropped more than normal as the coronavirus pandemic shut slaughterhouses and prompted grocers to limit customers’ buying, government data showed on Thursday. About 20 meat plants shut last month while consumers were stocking freezers during state-imposed lockdowns. U.S. […]

WASHINGTON (Reuters) – Negotiators in the U.S. Senate reached agreement on Thursday on legislation increasing the amount of time, to 16 weeks from the current eight-week deadline, for small businesses to use Paycheck Protection Program loans, according a Senate aide. The legislation, which attempts to make revisions to a program created in late March to […]

(Reuters) – Wall Street receded on Thursday, a day after hitting two-month highs, on a fresh wave of China-U.S. tensions, raising doubts about the trade deal reached early this year between the world’s two largest economies. President Donald Trump said the United States would react strongly if China imposes national security laws for Hong Kong […]