The euro held below a three-month high against the dollar amid speculation the U.S. Federal Reserve might announce more steps to check a recent rise in bond yields later on Wednesday.
The global economy will suffer the biggest peace-time downturn in a century before it emerges next year from a coronavirus-inflicted recession, the OECD said on Wednesday.
Germany should make provisions to ensure banks have sufficient capital in case of a wave of bankruptcies in Europe’s largest economy caused by the coronavirus crisis, a senior OECD economist said on Wednesday.
Boeing Co.’s (BA) aircraft deliveries continued to decline in May, while order cancellations increased as travel restrictions tied to the coronavirus pandemic have throttled commercial jet demand.Last month, the ailing plane maker delivered 4 planes, compared with 6 in April, adding up to a total of 58 in the first five months of this year, as air travel demand has been halted in an effort to contain the coronavirus pandemic. The report comes after France-based planemaker Airbus SE (EADSF) said earlier this week that it did not receive a single order in May.Boeing reported order cancellations of another 18 planes …read more […]
World stock markets hovered below three-month highs on Wednesday, while the dollar stumbled ahead of a meeting of the U.S. Federal Reserve.
Business conditions are improving after a tough start to the year, Credit Suisse Chief Executive Thomas Gottstein said in a presentation released on Wednesday.
Emirates laid off more pilots and cabin crew on Wednesday in a second day of redundancies at one of the world’s biggest long-haul airlines, three company sources said.
The head of the NATO military alliance said on Wednesday that the West could not ignore the rise of China and so it was important that the United Kingdom had a review of the role of Huawei in its 5G network to ensure its security.
Oil prices fell on Wednesday after a rise in crude and fuel stockpiles in the United States revived fears about oversupply and falling fuel demand in the world’s largest crude consumer amid the coronavirus outbreak.
Swiss private bank Julius Baer faces investigation by watchdog FINMA over whether it followed correct procedures against money laundering in its ties with a former Argentine client, the Neue Zuercher Zeitung newspaper said on Wednesday.
The dollar fell against most currencies on Wednesday amid some speculation the U.S. Federal Reserve could take steps to curb a recent rise in bond yields in a policy decision later in the day.
(Bloomberg Opinion) — The Covid-19 pandemic has brought the usually resilient aerospace industry to its knees. Air passenger traffic has collapsed by 90% in Europe and isn’t likely to get back to pre-virus levels for several years. Airlines are fighting for survival and have grounded their fleets. Passenger-jet makers Airbus SE and Boeing Co., after years of briskly building planes to meet booming demand, are slashing investments, jobs and production in a world where nobody wants new aircraft. Their suppliers are equally suffering.Nothing like this has been seen since the “Boeing Bust” of the early 1970s, when defense cutbacks, airliner …read more […]
(Bloomberg) — U.S. and European stock futures advanced, while equities traded mixed in Asia on Wednesday as investors took stock of the recent risk-asset rally and awaited clues on the next steps for monetary policy from the Federal Reserve. The dollar resumed its recent decline.S&P 500 futures rose after the index on Tuesday halted a surge that drove it into the black for 2020, with a drop of 0.8%. European contracts were also higher. Shares dipped in China and Japan. Benchmarks in Hong Kong and South Korea fluctuated, while Australia edged higher. Earlier, the Nasdaq 100 briefly topped 10,000 as …read more […]
Asia’s stock markets edged up to a fresh three-month high on Wednesday, with the dollar again under pressure but sentiment was largely cautious ahead of the U.S. Federal Reserve’s next move.
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