Month: May 2020

No Picture
Trading Ideas

Vaccine Progress Spurs Optimism in Emerging Markets

May 24, 2020 admin Comments Off on Vaccine Progress Spurs Optimism in Emerging Markets

(Bloomberg) — Emerging-market stocks and currencies gained last week amid optimism progress is being made toward developing coronavirus vaccines, and as more nations roll back lockdowns. Sentiment was tempered as the week progressed by signs U.S.-China tensions are increasing once again, including escalating rhetoric from President Donald Trump and Senate legislation that may lead to delisting of Chinese companies from American stock exchanges. China announced plans to impose a national security law on Hong Kong, further adding to geopolitical frictions.The following is a roundup of emerging-market news and highlights for this week through May 22:Highlights:The U.S. threw its weight behind …read more […]

No Picture
Trading Ideas

Lufthansa’s $9.8 Billion Bailout Bogged Down in Talks With EU

May 24, 2020 admin Comments Off on Lufthansa’s $9.8 Billion Bailout Bogged Down in Talks With EU

(Bloomberg) — Germany’s 9 billion-euro ($9.8 billion) bailout of Deutsche Lufthansa AG is being slowed by discussions meant to ensure the rescue plan receives swift European Union approval once it’s finalized, people familiar with the matter said.One detail to be ironed out is a timetable for Germany’s exit from a direct stake it would take in Europe’s largest airline, one of the people said, asking not to be named because the talks are confidential.Bild am Sonntag reported earlier that Lufthansa would face a three-year deadline for repayment of the aid package.The outlines of the rescue deal that would make Germany …read more […]

No Picture
Trading Ideas

IBM Is Said To Make Far-Reaching Job Cuts Across The U.S.

May 24, 2020 admin Comments Off on IBM Is Said To Make Far-Reaching Job Cuts Across The U.S.

IBM Corp. (IBM) is said to reduce the number of employees across the U.S., streamlining its workforce in at least five states.The company declined to comment on the total number, but the workforce reductions appear far-reaching, according to a Bloomberg report.“IBM’s work in a highly competitive marketplace requires flexibility to constantly add high-value skills to our workforce. While we always consider the current environment, IBM’s workforce decisions are in the interest of the long-term health of our business,” company spokesman Ed Barbini said in a statement. “Recognizing the unique and difficult situation this business decision may create for some of …read more […]

No Picture
Trading Ideas

Asia’s Rich Brush Aside Risk to Snatch Up Chinese Developer Debt

May 24, 2020 admin Comments Off on Asia’s Rich Brush Aside Risk to Snatch Up Chinese Developer Debt

(Bloomberg) — When China’s largest residential property developer raised money this month, a third of interest came from banks that service the wealthy, a group keeping faith with the nation’s beleaguered builders even as other investors flee.The affluent in Hong Kong and the mainland have piled in as Chinese developers sold a record $26 billion in U.S. dollar bonds in the first quarter and $1 billion since, brushing aside concerns that pushed junk-bond yields to an eight-year high in March.Heightened interest from private bank clients and family offices is an important support as developers look to refinance or repay at …read more […]

No Picture
Trading Ideas

Twilio To Power New York’s COVID-19 Contact Tracing Initiative; Shares Jump 7.5%

May 24, 2020 admin Comments Off on Twilio To Power New York’s COVID-19 Contact Tracing Initiative; Shares Jump 7.5%

Twilio (TWLO) announced that it will provide the communications platform to power New York City’s coronavirus contact tracing initiative sending shares up 7.5% on Friday.The cloud communications company said that New York City’s Department of Information Technology & Telecommunications (DoITT) is planning to deploy a cloud-based contact center on Twilio Flex to call, message or email COVID-19 patients, educate them on the virus, and identify their close contacts through self-reporting. Terms of the deal weren’t disclosed.The platform also provides messaging-based alerts using Twilio Voice, SMS, email or WhatsApp that prompt patients to fill out secure surveys on their symptoms. As …read more […]

No Picture
Trading Ideas

Emerging Markets Are Stumbling as Old Bugbear Gatecrashes Party

May 24, 2020 admin Comments Off on Emerging Markets Are Stumbling as Old Bugbear Gatecrashes Party

(Bloomberg) — Just as early bets on an emerging-market recovery start fueling appetite for stocks and currencies, an old bugbear is reappearing to haunt investors: U.S.-China tensions.MSCI’s emerging-markets stock gauge moved into the red last week as China announced plans to impose a national security law on Hong Kong, deepening the friction between Washington and Beijing. Signs are mounting that President Donald Trump will make his tough-on-China stance a key element of his re-election bid. China’s Foreign Minister Wang Yi said Sunday some Americans are pushing the two countries toward a “new Cold War.”“The market mood had been rather constructive …read more […]