Global shares tumbled on Friday as Hong Kong’s political unrest returned as a flashpoint in fast-deteriorating U.S.-China relations, following Beijing’s moves to impose a new security law on the city.
Vodafone , the world’s second-biggest mobile operator, has recruited Jean-Francois Van Boxmeer, the current CEO of brewer Heineken , to succeed Gerard Kleisterlee as chairman from November this year.
Nvidia (NVDA) has posted stellar earning results for the fiscal first quarter, although shares moved marginally lower in Thursday’s after-hours trading due to weaker-than-expected guidance. Income doubled from the same period last year, with Q1 Non-GAAP EPS of $1.80 beating the Street by $0.12, and GAAP EPS of $1.47 also topping expectations by $0.10.Revenue of $3.08B represented a 39% year-over-year gain, while also easily beating estimates by $80M. Most notably, gaming rose 27% to $1.34B and Data Center shot up 80% to hit $1.14B.At the same time Nvidia announced that it completed its $7 billion acquisition of Mellanox Technologies on …read more […]
Pharmaceutical group Roche has acquired U.S.-based Stratos Genomics to further develop DNA-based sequencing for diagnostic use, it said on Friday.
Mexico’s state-owned oil company Petroleos Mexicanos has seen investor sentiment improve in recent weeks despite sky-high debts, a slump in demand and no clear direction about how the government will turn the money-losing driller around.
Global equity markets have shuffled up about 1% this month despite the world starting to re-open after the coronavirus-driven lockdowns and U.S. and European economic data showing glimmers of a recovery.
Oil prices fell on Friday after China failed to set an economic growth target for 2020, sparking concerns that the fallout from the coronavirus pandemic will cap fuel demand in the world’s second-largest oil user.
Australian retail giant Wesfarmers Ltd said it will close or rebrand nearly two-thirds of its Target department stores and take one-off charges totalling up to A$650 million ($426 million) as it reels from the coronavirus fallout.
Spot gold was trading at $1,727.39 per ounce by 0248 GMT, having dropped 1.4% on Thursday. U.S. gold futures rose 0.3% to $1,726.50. Bullion had rallied to its highest since October 2012 on Monday, but has since lost ground and is now heading for a 0.8% weekly decline. …read more […]
(Bloomberg) — Oil retreated from the highest level in more than two months as doubts over the strength of China’s economic recovery and rising tensions between Washington and Beijing ate away at its weekly advance.Futures in New York fell 6% to below $32 a barrel on Friday, but are still up around 8% for the week. Beijing said it wouldn’t set a gross domestic product target this year due to “great uncertainty” over the coronavirus, although it did announce some new stimulus spending. The question marks over China’s economy come as relations with the U.S. deteriorate, potentially complicating the global …read more […]
Oil prices slumped on Friday after China’s decision to omit an economic growth target for 2020 renewed concerns that the fallout from the coronavirus pandemic will continue to depress fuel demand in the world’s second-largest oil user.
General Motors Co said on Thursday it was gradually restarting the transmission and motor lines at its Mexican facilities in Silao and Ramos Arizpe, while U.S. auto parts maker Lear Corp also geared up for production.
Hong Kong shares tumbled on Friday after Beijing moved to impose a new security law on the city after last year’s pro-democracy unrest, risking fresh protests and further straining fast-deteriorating U.S.-China ties.
Institutional Shareholder Services (ISS) has recommended shareholders of Google-parent Alphabet Inc to vote “against” the company’s proposed executive pay at its annual meet in June, according to a report seen by Reuters on Thursday.
(Bloomberg) — Asian stocks slipped, with the bulk of losses coming in Hong Kong, as China announced plans to impose a national security law on the city, which threatened to further deteriorate tension between the U.S. and China. U.S. futures edged higher.Hong Kong’s Hang Seng opened about 2% lower. Losses were more modest in Tokyo and Seoul, while shares edged up in Sydney. China responded to accusations from President Donald Trump, warning that it will safeguard its sovereignty, security and interests, and threatened countermeasures. The yuan was steady as China’s National People’s Congress began with pledges to sell bonds and …read more […]
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