A member of Canada’s air-force aerobatics team was killed and the pilot injured in a jet crash during a performance in support of front-line workers fighting the coronavirus pandemic. Photo: Jonathan Hayward/Associated Press …read more […]
May.18 — Izumi Devalier, head of Japan economics at Bank of America, discusses the prospects for the Japanese economy and policies amid the coronavirus outbreak. The economy sank last quarter into a recession that’s likely to deepen further as households limit spending to essentials and companies cut investment, production and hiring to stay afloat. Devalier speaks with Rishaad Salamt and Haslinda Amin on “Bloomberg Markets: Asia.” …read more […]
(Bloomberg) — Gold rose to the highest in more than seven years after the Federal Reserve said stocks and asset prices could suffer a significant hit from coronavirus, and warned the process of economic recovery may stretch through until the end of next year. Palladium surged more than $100 in 20 minutes.Commercial real estate could be among the hardest-hit industries should the health crisis deepen, the U.S. central bank said in its twice-yearly financial stability report Friday. Separately, Chairman Jerome Powell said in an interview with CBS that a full recovery of the U.S. economy could drag through 2021 and …read more […]
May.17 — Phillip Zhong, Asia senior equity analyst at Morningstar Investment Management, discusses China’s property market and when he thinks it will recover from the coronavirus pandemic. He speaks on “Bloomberg Markets: China Open.” …read more […]
May.17 — Jessica Weiss, associate professor of government at Cornell University, discusses what to expect from China’s National Party Congress and how the coronavirus has impacted U.S.-China relations. She speaks on “Bloomberg Markets: China Open.” …read more […]
Japan’s economy slipped into recession for the first time in 4-1/2 years, putting the nation on course for its deepest postwar slump as the coronavirus crisis ravages businesses and consumers.
Japan’s economy is expected to slump significantly due to sluggish overseas demand blamed on the coronavirus pandemic, Economy Minister Yasutoshi Nishimura said on Monday.
Oil prices climbed by more than $1 a barrel on Monday to their highest in more than a month, supported by ongoing output cuts and signs of gradual recovery in fuel demand as more countries ease curbs imposed to stop the coronavirus pandemic spreading.
Asian shares were led higher by S&P 500 futures on Monday and oil prices hit a five-week peak as countries’ efforts to re-open their economies stirred hopes the world was nearer to emerging from recession.
SoftBank Group Corp said on Monday that Alibaba co-founder Jack Ma will resign from its board, in the latest departure by a high-profile ally of CEO Masayoshi Son.
The United States needs to quickly revise its coronavirus aid program for small businesses to extend the eight-week period in which the law currently requires companies to spend the money, a key U.S. senator said on Sunday.
Oil prices jumped by more than $1 a barrel on Monday to their highest in more than a month, supported by ongoing output cuts and signs of gradual recovery in fuel demand as more countries ease curbs imposed to stop the coronavirus pandemic spreading. The world’s top exporter Saudi Arabia announced last week that it would cut an additional 1 million barrels per day in June, while OPEC+ wants to maintain existing oil cuts beyond June when the group is next due to meet. …read more […]
Virgin Australia Holdings Ltd’s administrators have short-listed potential buyers BGH Capital, Bain Capital, Indigo Partners and Cyrus Capital Partners, a source with knowledge of the matter said on Monday.
SoftBank Group Corp said on Monday that Alibaba co-founder Jack Ma will resign from its board, in the latest departure by a high-profile ally of CEO Masayoshi Son. The departure of Ma, who retired as Alibaba’s executive chairman in September, comes as he pulls back from formal business roles to focus on philanthropy. The number of board members will expand to 13. …read more […]
Asian shares crept ahead on Monday and oil prices hit a five-week high as more countries re-opened their economies, stirring hopes the world was nearer to emerging from recession. “The economies of Europe and the U.S. likely bottomed out in April and are slowly starting to come back to life,” wrote Barclays economist Christian Keller in a note. “However, incoming data from most economies highlight the depth of the contraction, raising risks of longer-term scarring that might undermine the recovery.” …read more […]
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