China’s central bank has given the final nod to a network clearing license for an American Express joint venture, allowing it to be the first foreign credit card company to launch onshore operations in China.
China’s central bank said on Saturday it has given American Express approval to set up a bank card clearance business in the country.
State investigators in both California and Washington are examining Amazon’s business practices, two newspapers reported, citing people familiar with the matter.
(Bloomberg) — After a record-breaking week with a market milestone reading one trillion euros, European investors are getting ready for a busy Thursday that could feature the same number.That’s when the European Central Bank will dish out cheap loans to banks, with take-up expected to reach the eye-catching amount. The ECB sweetened terms of its so-called TLTROs in April, in an effort to boost lending and further ease stress in Europe’s money markets.Such take-up would come soon after last Tuesday’s bond bonanza, when almost 32 billion euros ($36 billion) of sovereign debt was sold. It took Europe’s primary market issuance …read more […]
Hertz Global Holdings Inc said it won bankruptcy court approval on Friday to sell up to $1 billion in stock, capitalizing on a remarkable rally in its shares driven by speculators defying conventional market wisdom.
Despite the ongoing 737 Max issues and a decimated customer base, Boeing (BA) has already rallied back to $200 from below $90. Sure, the stock has a 52-week high near $400, but the airline no longer has any new commercial passenger jet orders after seeing their backlog as constrained due to production limits.Boeing has borrowed the money to survive the near global shutdown of air travel, but the company has a very weak customer base here. Without a substantial rebound in passenger travel, the aircraft manufacturer could see the backlog plunge in coming quarters in a negative sign for the …read more […]
Canada’s intelligence agency warned that arresting the daughter of billionaire Huawei founder Ren Zheng would set off global “shock waves” and seriously affect ties with China, just before her detention in Vancouver on a U.S. extradition request, new court documents show.
As the U.S. economy begins to emerge from the sharp slowdown during the coronavirus pandemic, some fund managers have been drawn to value stocks, a sector that underperformed during the recent rally.
Federal authorities administering business payroll loans as part of U.S. coronavirus relief efforts on Friday eased rules prohibiting lending to business owners with criminal records, allowing some with no convictions in the past year to access funds.
British Airways was labelled a “national disgrace” by lawmakers for its treatment of employees on Saturday, adding to pressure on the airline as it juggles job cuts and new quarantine rules.
I don’t know about you, but my life looks a lot different today than it did three months ago.
Before the COVID-19 pandemic shut down stores, restaurants and my office, I left my house most days. And I was spending money almost daily.
Today, I get in my car and go spend money just once or twice a week.
As a result, my savings account has changed.
Yours probably has too…
The balances in American savings accounts are growing. In fact, Americans are stashing away cash at record rates. It’s one of the most interesting side effects of COVID-19 I’ve seen yet.
But it makes sense. …read more […]
The latest 13F reporting period has come and gone, and Insider Monkey is again at the forefront when it comes to making use of this gold mine of data. We at Insider Monkey have plowed through 821 13F filings that hedge funds and well-known value investors are required to file by the SEC. The 13F […] …read more […]
Home rental firm Airbnb struck a partnership with Brazil’s Sao Paulo state to encourage tourism once the novel coronavirus crisis has passed, a company executive said on Friday.
A bankruptcy judge on Friday approved Hertz Global Holdings Inc’s proposal to sell up to $1 billion in shares, as the car rental firm looks to cash in on a huge speculative rise in its share price since filing for bankruptcy late last month.
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