The dollar fell against most currencies on Wednesday amid some speculation the U.S. Federal Reserve could take steps to curb a recent rise in bond yields in a policy decision later in the day.
(Bloomberg Opinion) — The Covid-19 pandemic has brought the usually resilient aerospace industry to its knees. Air passenger traffic has collapsed by 90% in Europe and isn’t likely to get back to pre-virus levels for several years. Airlines are fighting for survival and have grounded their fleets. Passenger-jet makers Airbus SE and Boeing Co., after years of briskly building planes to meet booming demand, are slashing investments, jobs and production in a world where nobody wants new aircraft. Their suppliers are equally suffering.Nothing like this has been seen since the “Boeing Bust” of the early 1970s, when defense cutbacks, airliner …read more […]
(Bloomberg) — U.S. and European stock futures advanced, while equities traded mixed in Asia on Wednesday as investors took stock of the recent risk-asset rally and awaited clues on the next steps for monetary policy from the Federal Reserve. The dollar resumed its recent decline.S&P 500 futures rose after the index on Tuesday halted a surge that drove it into the black for 2020, with a drop of 0.8%. European contracts were also higher. Shares dipped in China and Japan. Benchmarks in Hong Kong and South Korea fluctuated, while Australia edged higher. Earlier, the Nasdaq 100 briefly topped 10,000 as …read more […]
Asia’s stock markets edged up to a fresh three-month high on Wednesday, with the dollar again under pressure but sentiment was largely cautious ahead of the U.S. Federal Reserve’s next move.
China’s Nio Inc (NIO) has announced an offering of 60 million American depositary shares (ADSs), each representing one Class A ordinary share of the company. Shares fell 5% in Tuesday’s after-market trading.The electric-vehicle maker also intends to grant the underwriters in the ADS Offering a 30-day option to purchase up to an additional 9 million ADSs.Morgan Stanley & Co. LLC, Credit Suisse Securities (USA) LLC and China International Capital Corporation Hong Kong Securities Limited are acting as the joint book-running managers for the ADS Offering.The ADSs will be offered under the company’s shelf registration statement which became effective on June …read more […]
European Central Bank officials are drawing up a scheme to cope with potentially hundreds of billions of euros of unpaid loans in the wake of the coronavirus outbreak, two people familiar with the matter told Reuters.
Emirates, one of the world’s biggest long-haul airlines, will lay off more pilots and cabin crew on Wednesday, sources said, in what would be a second day of redundancies.
The Federal Reserve completes its latest policy meeting on Wednesday with attention turning from its massive response to the coronavirus pandemic and toward its still-developing plans to strengthen and lengthen a nascent economic recovery.
Oil prices fell on Wednesday after data showed a rise in crude and fuel stockpiles in the United States, reviving concerns about oversupply and falling fuel demand in the world’s largest crude consumer amid the coronavirus outbreak.
Shares of Cathay Pacific Airways Ltd surged as much as 18.7% on Wednesday, reaching their highest level since Feb. 24, after the carrier announced a HK$39 billion ($5 billion) recapitalisation plan led by the Hong Kong government.
China’s producer prices fell by the sharpest rate in more than four years, underscoring pressure on the manufacturing sector as the COVID-19 pandemic reduces trade flows and global demand.
Asian stock markets eked out a 10th consecutive session of gains on Wednesday, but momentum ebbed as doubts about the global recovery from the pandemic returned ahead of the U.S. Federal Reserve meeting.
(Bloomberg) — At 23, Shunji Sugaya had what he calls a “life-changing episode.”It was March 2000, and Sugaya had just won an award at a business contest where Masayoshi Son, the founder of what was then called SoftBank Corp., was a judge. He sent Son an email to thank him, the two met up, and before long SoftBank offered to buy Sugaya’s idea for $2.8 million or for Sugaya to join the company and receive stock options.Sugaya turned it down.“It gave me a big boost in confidence as I was a student — I was so happy I could dance,” …read more […]
The dollar nursed losses against most currencies on Wednesday amid some speculation the U.S. Federal Reserve could take steps to curb a recent rise in bond yields at its policy meeting.
(Bloomberg) — Oil retreated toward $38 a barrel after a U.S. industry report signaled a surprise jump in crude inventories, raising fresh concerns about excess supply.Futures dropped 1.9% in New York, erasing almost all of the gains from the previous session. The American Petroleum Institute reported that stockpiles expanded by 8.42 million barrels last week, according to people familiar with the data. If confirmed by government figures on Wednesday, it would be the largest build since the end of April.Oil is still recovering from the virus-driven demand crash that pushed crude below zero in April as supply cuts trim oversupply …read more […]
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