Business News
World stocks win a respite, oil prices highest in over a month
World stocks edged higher on Friday and oil prices rallied more than 2%, as sentiment revived after a week pressured by deteriorating U.S.-China relations.
Month: May 2020
Business News
U.S. employers wary of coronavirus ‘immunity’ tests as they move to reopen
U.S. employers have cooled to the idea of testing workers for possible immunity to the coronavirus as they prepare to reopen factories and other workplaces.
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Stock market news live updates: Stock futures edge lower as more economic data rolls in
Stock futures were lower Friday morning after a whipsaw session on Thursday, as investors continued to weigh new economic data and earnings results against hopes of a speedy economic reopening. …read more […]
Business News
Exclusive: U.S. moves to cut Huawei off from global chip suppliers
The Trump administration on Friday moved to block shipments of semiconductors to Huawei Technologies from global chipmakers, in an action that could ramp up tensions with China.
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Exclusive: U.S. moves to cut Huawei off from global chip suppliers
The Trump administration on Friday moved to block shipments of semiconductors to Huawei Technologies from global chipmakers, in an action that could ramp up tensions with China. The U.S. Commerce Department said it was amending an export rule to “strategically target Huawei’s acquisition of semiconductors that are the direct product of certain U.S. software and technology.” The department added the “announcement cuts off Huawei’s efforts to undermine U.S. export controls.” …read more […]
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Pandemic Punches 1.7-Billion-Barrel Hole in Global Oil Demand
(Bloomberg) — A fifth of global demand for oil will disappear this quarter. All three of the major forecasting agencies now agree that the world faces its biggest-ever slump in oil consumption, after governments imposed movement restrictions on billions of people to combat the coronavirus. The scale of the demand hit means that despite producers implementing unprecedented output cuts, stockpiles will soar this year.The International Energy Agency, the Organization of Petroleum Exporting Countries and the U.S. Energy Information Administration have all updated their oil market forecasts in the past week and they have come into much closer alignment in their …read more […]
Business News
Ryanair cuts more than 250 office staff across Europe
Ryanair has cut more than 250 staff in offices in Dublin, London, Madrid and Wroclaw, Poland, Europe’s largest low-cost airline said on Friday.
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Business News
U.S. food aid program launches with companies scrambling to deliver
Texas-based CRE8AD8 LLC bid for a federal government contract to quickly rescue food from struggling farmers and deliver it to U.S. food banks as fallout from the coronavirus pandemic has put millions of Americans out of work and driven many to seek help putting food on the table.
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British Pound Becomes Pariah of World Currencies
(Bloomberg) — The pound is back to being the pariah of the currency world as renewed Brexit risks worsen the troubles of a market still reeling from the shock of the pandemic.Sterling fell a fifth day against the dollar on Friday after the latest negotiations between the U.K. and the European Union seemed set for a stalemate, with both sides refusing to compromise on key issues such as trade and movement of citizens. The pound is already the past month’s worst-performing Group-of-10 currency and options signal more pain ahead.British Prime Minister Boris Johnson threatened to walk away from the talks …read more […]
Business News
Fincantieri says cooperation with Thyssenkrupp chance to talk about consolidation
Cooperation between Fincantieri and Thyssenkrupp to build submarines is a good opportunity to talk about future consolidation in the European defence sector, the Italian shipbuilder’s general manager Alberto Maestrini said on Friday.
Business News
Check-up after check-in: Accor bets on online medicine for hotel rebound
France’s Accor , which runs hotels such as Ibis and Movenpick, said on Friday it would offer its clients free access to online medical consultations run by insurer AXA as it prepares for a recovery from the coronavirus crisis.
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Gold, Silver Race Higher on Fear of Second Virus Wave
(Bloomberg) — Gold and silver are finishing the week on a high note, lifted by concerns over economic growth, a second wave of virus infections and simmering tensions between the U.S. and China.Gold headed back toward its peak in April, when prices hit the highest since 2012. Silver jumped to a two-month high. Prices are having a long-awaited breakout moment as market anxiety mounts, according to Rhona O’Connell, head of market analysis for EMEA and Asia at INTL FCStone.“There are fears over everything from political leadership through the health outlook overall and associated economic financial and political risk,” she said.Spot …read more […]
Business News
Swedish central bank to use Blackrock for corporate bond market analysis
Sweden’s central bank will engage BlackRock’s Financial Markets Advisory for analysis work on the Swedish corporate bonds market, it said in a statement on Friday.
Business News
World stocks win a respite, oil prices jump over 3%
World stocks rose on Friday and oil prices jumped more than 3%, taking the sting out of a week that has seen sentiment hit as deteriorating U.S.-China relations added to worries over how fast economies could recover from the coronavirus shock.