Asian stocks and Wall Street futures fell on Thursday as spiking coronavirus cases in some U.S. states and in China dented hopes of a quick global economic comeback from the pandemic.
The dollar and the yen edged higher on Thursday as growing concerns about a rise in coronavirus cases underpinned safe-haven demand for both currencies.
Maintenance firms and spare parts producers who keep airplanes running are bracing for a decline of up to 75% in sales this year – and more pain to follow – as airlines park or retire thousands of aircraft due to the coronavirus pandemic.
A newly discovered spyware effort attacked users through 32 million downloads of extensions to Google’s market-leading Chrome web browser, researchers at Awake Security told Reuters, highlighting the tech industry’s failure to protect browsers as they are used more for email, payroll and other sensitive functions.
Oil prices fell around 1% on Thursday as a spike in new coronavirus cases in China and the United States renewed fears that a recovery in fuel demand could stall, even as lockdowns ease.
A second wave of layoffs amid weak demand and fractured supply chains is likely keeping new U.S. applications for unemployment benefits elevated, supporting views that the economy faces a long and difficult recovery from the COVID-19 recession.
The recommendation was based on corporate governance concerns due to an insurance arrangement with Chief Executive Officer Elon Musk after Tesla’s decision to not renew its directors and officers’ liability policy due to high premiums quoted by insurers, Glass Lewis said. Musk had agreed to personally provide coverage to such a policy for a year, Tesla disclosed in a regulatory filing in April. “We are concerned that this D&O arrangement gives the company’s independent directors a direct, personal financial dependency upon the CEO they are tasked with overseeing,” Glass Lewis said. …read more […]
(Bloomberg) — JD.com Inc. has bagged a record $32 billion of sales during the country’s biggest online shopping gala of the post-pandemic era, suggesting China’s nascent consumer spending recovery has legs.JD and larger rival Alibaba Group Holding Ltd. this month put Chinese consumption to its first major test since Beijing locked down the country in February. China’s largest retailers are hoping the “6.18” summer extravaganza that wraps up Thursday has unleashed pent-up demand, making up for lost sales during a coronavirus-stricken March quarter. JD said it had racked up 228.5 billion yuan ($32 billion) of transactions as of mid-morning Thursday, …read more […]
(Bloomberg) — Asian stocks and U.S. equity futures dropped, while the yen and Treasuries advanced, as optimism over policy stimulus gave way to recovery concerns caused by rising infection numbers in some locations.Shares fell in Japan, Australia and Hong Kong as the global equity rally seen earlier this week continued to show signs of fatigue. S&P 500 Index futures retreated after the index swung between gains and losses for most of Wednesday on light volume before closing in the red. The yuan and Chinese bond yields traded flat, erasing earlier losses seen in the wake of China’s central bank cutting …read more […]
Australia’s antitrust regulator warned Google’s planned $2.1 billion acquisition of fitness tracker maker Fitbit may give it too much of people’s data, potentially hurting competition in health and online advertising markets.
Glass Lewis said on Thursday that it urged Tesla Inc investors to vote against re-electing Chairwoman Robyn Denholm to the company’s board, making it the second proxy advisory firm to oppose her appointment.
Asian stocks and Wall Street futures fell on Wednesday as spiking coronavirus cases in some U.S. states and China crushed hopes of a quick global economic comeback from the pandemic.
The dollar and the yen edged higher on Thursday as growing concerns about a rise in coronavirus cases underpinned safe-haven demand for both currencies.
Oil prices fell around 2% on Thursday as a spike in new coronavirus cases in China and the United States renewed fears that people would stay home, stalling a recovery in fuel demand even as lockdowns ease.
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