German sportswear firm Adidas expects to take a bigger hit from the coronavirus lockdowns in the second quarter, predicting that sales will fall more than 40% after it reported a decline of 19% in the first quarter.
Asian shares bounced on Monday as the Bank of Japan (BOJ) announced more stimulus steps to help cushion the economic impact of the coronavirus, while oil took another spill as the world ran short of space to store it.
Oil prices fell on Monday on signs that worldwide oil storage is filling rapidly, raising concerns that production cuts will not be fast enough to fully offset the collapse in demand from the coronavirus pandemic.
The Federal Reserve’s gradual withdrawal from the U.S. Treasury market as the coronavirus pandemic eases and liquidity improves could dry up appetite for longer-dated government debt and push up long-term interest rates months from now.
A little-known U.S.-based engineering and design firm said it plans to invest 10 billion yuan ($1.41 billion) to make sports cars with China’s FAW Group under the brand of choice of late revolutionary leader Chairman Mao Zedong, Hongqi.
National Australia Bank Ltd , the country’s No.3 lender, asked investors for A$3.5 billion ($2.2 billion) and slashed its dividend on Monday as its first-half profit tumbled in part due to charges associated with the coronavirus pandemic.
Apr.27 — The Japanese government is weighing the need to extend the state of emergency beyond early May, according to local reports. Meanwhile, Singapore is emerging with the region’s highest number of coronavirus cases after China and India, the world’s two most populous countries. Selina Wang reports on “Bloomberg Markets: Asia.” …read more […]
Normally bustling with activity and colour, Chinatowns in California have come to a standstill as a lockdown to slow the spread of the coronavirus pandemic forces most shops to close. Business has dropped up to 80 per cent, driven initially by racially charged fears about Covid-19, and later by a statewide shelter-in-place order. There are growing fears that many independent restaurants in the area may not survive the pandemic.
In a letter to workers Guillaume Faury reportedly said the firm’s existence was now threatened. …read more […]
A majority of U.S. companies expect to stay afloat for more than six months without government assistance, according to a survey on Monday, even though the novel coronavirus outbreak has severely disrupted economic activity and hit cash flow.
Asian shares bounced on Monday as the Bank of Japan (BOJ) announced more stimulus steps to help cushion the economic impact of the coronavirus, while oil took another spill as the world ran short of space to store it all.
Apr.26 — Kelvin Loh, chief executive officer of IHH Healthcare Bhd., which operates hospitals and other facilities in Southeast Asia and beyond, discusses how the coronavirus outbreak is affecting demand for its services and the industry. He speaks with David Ingles and Tom Mackenzie on “Bloomberg Markets: China Open.” …read more […]
(Bloomberg) — Soured investments, a forecast record loss and a rating cut are not turning SoftBank Group Corp. analysts and investors into bears on the stock.That’s because they believe a massive $23 billion share buyback plan will buoy SoftBank’s shares for months to come, more than offsetting the hit from the Vision Fund’s write-downs.Masayoshi Son’s tech giant last month boosted the size of planned share repurchases to 2.5 trillion yen, to be funded with proceeds from asset sales. The stock is up more than 40% since then, continuing to rise even after it said earlier this month that it will …read more […]
The U.S. government notified lenders on Sunday that it will cap how much each bank can lend under the emergency loan program designed to keep workers on payrolls amid the coronavirus pandemic, hours ahead of the reopening of the lending program. The Small Business Administration (SBA) will impose a maximum dollar amount for individual lenders at 10% of Paycheck Protection Program funding, or $60 billion per lender, and pace the applications filed, according to SBA guidance on Sunday to lenders that have received a significant number of applications. The SBA was due to reopen PPP funding at 10:30 …read more […]
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