Business News
Trump leapfrogs back ahead of Obama in stock market gains
U.S. President Donald Trump is once again beating predecessor Barack Obama in stock market performance following a stunning recovery on Wall Street.
Year: 2020
Trading Ideas
Why one strategist doesn't think the stock market rally is done: Morning Brief
Top news and what to watch in the markets on Thursday, May 28, 2020. …read more […]
Business News
Renault to take 3.6 billion euro hit from Nissan losses
French carmaker Renault said on Thursday that losses at its Japanese partner Nissan , in which it has a 43% stake, would drag on its on net earnings by 3.6 billion euro ($3.96 billion) in the first quarter.
Business News
EasyJet to cut 4,500 jobs to stay competitive after crisis
Britain’s easyJet plans to cut up to 4,500 jobs and shrink its fleet to adjust to the smaller travel market which is forecast to emerge from the coronavirus crisis.
Business News
Europe cheers super-sized stimulus plan, U.S.-China tensions simmer
European shares rose for the fourth straight session on Thursday and the euro perched at a two-month high, as businesses returning to work and a 750 billion euro EU stimulus plan outweighed rising U.S.-China tensions.
Business News
From bikes to blockchain: Shipping industry goes digital in lockdown
The coronavirus lockdown has accelerated a digitalisation drive in a global shipping and logistics sector that still routinely delivers many documents by bike messenger in some countries, according to industry leaders.
Business News
French carmaker PSA to make surgical masks at Mulhouse site
French carmaker PSA said on Thursday that it would start manufacturing surgical masks at its site in Mulhouse in eastern France from August.
Business News
Nissan sets out survival plan after first loss in 11 years
Nissan Motor Co unveiled a plan to become a smaller, more cost-efficient automaker on Thursday as it looks to recover from four years of tumbling profits that culminated in its first annual loss in 11 years.
Business News
Nissan slashes capacity by a fifth after first loss in 11 years
Nissan Motor Co said on Thursday it would slash its production capacity by a fifth to help reduce its fixed costs by 300 billion yen ($2.8 billion) as it looks to become a smaller, more cost-efficient automaker following a slide in sales.
Trading Ideas
Hong Kong Stocks Swing Wildly as China Approves Security Law
(Bloomberg) — It was anything but an ordinary afternoon for Hong Kong stocks as Chinese lawmakers approved a controversial plan to impose national security legislation for the city.The Hang Seng Index plunged as much as 2.2% before erasing all its losses. A rally for Chinese companies spurred speculation that mainland-based funds were behind the gains. The gauge then headed lower again to trade down 1% at 3:22 p.m. local time.There was also speculation of intervention in the currency market, with the offshore yuan strengthening just as traders said they saw some state-run banks selling dollars. Premier Li Keqiang was due …read more […]
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Boeing Cuts 6,770 Jobs In U.S.; CFRA Upgrades Stock To Buy
Boeing Co (BA) announced that it is laying off another 6,770 employees in the U.S. as the U.S. planemaker is cutting costs to cope with the impact that the coronavirus pandemic is having on the aviation industry.Boeing said it is taking these streamlining measures as travel restrictions tied to the coronavirus pandemic have resulted in a deep cut in the number of commercial jets and services its customers need over the next few years. Earlier this month, the planemaker reported that it did not receive a single order in April, while it was also grappling with 108 order cancelations for …read more […]
Business News
EasyJet will not fly to Italy with distancing on planes: report
EasyJet will not fly to Italy if Rome prolongs social distancing rules on planes beyond June 15, the budget airline’s chief executive said in a newspaper interview.
Business News
Oil falls as surprise U.S. stock build douses demand recovery hopes
Oil prices plunged on Thursday after U.S. industry data showed a surprise steep build in crude oil inventories, dampening hopes of a smooth recovery in demand as some countries begin to ease their way out of coronavirus lockdowns.
Business News
Airbus and Safran shares rise on Boeing cost cuts and 737 MAX restart
Shares in French aerospace companies Airbus and Safran rose on Thursday, buoyed by Boeing’s announcements of more cost-cutting measures and a restart to the production of the Boeing 737 MAX jet.
Business News
Spain says Nissan has decided to close its Barcelona plant
Japan’s Nissan Motor Co has decided to close its factory in Barcelona, resulting in the loss of about 3,000 jobs as part of a new worldwide restructuring plan, the Spanish government said on Thursday.