British government borrowing is soaring to levels not seen since World War Two, something Prime Minister Boris Johnson and his finance minister Rishi Sunak will try to fix once the worst of the coronavirus crisis has passed.
G7 government bonds? Check. Gold? Check. But that may not be enough as the coronavirus crisis accelerates a hunt for a wider pool of assets to better balance investment portfolios during stressful times.
Asian stocks extended their winning streak for the ninth consecutive session on Tuesday and oil prices rose as the lifting of coronavirus lockdowns in many countries fed investor hopes of a relatively quick global economic recovery.
Cathay Pacific Airways Ltd announced on Tuesday a recapitalisation plan worth HK$39 billion ($5.03 billion) led by the Hong Kong government to help it weather the coronavirus pandemic.
(Bloomberg) — Oil was anchored near $38 a barrel as expectations U.S. crude stockpiles extended declines offset a decision by Saudi Arabia to cease extra voluntary production cuts by the end of this month.Futures added 0.5% in New York after snapping a four-day rally on Monday. U.S. crude inventories probably fell for the fourth time in five weeks, according to a Bloomberg survey before government data Wednesday. Saudi Arabia said the additional supply cuts, which amounted to about 1.2 million barrels a day and included contributions from allies in the Persian Gulf, would only take effect in June as planned.Oil …read more […]
Chanel, Revlon and L’Oreal, three of the biggest brands in cosmetics, are quietly moving away from using talc in some products as U.S. cancer lawsuits and consumer concerns mount.
(Bloomberg) — Cathay Pacific Airways Ltd. announced a HK$39 billion ($5 billion) recapitalization plan that includes preference shares and a rights issue as it battles through unprecedented difficulty brought on by the coronavirus pandemic and protests in Hong Kong.The rights issue proposal is on the basis of seven rights shares for every 11 existing shares held and would raise about HK$11.7 billion, Cathay said in a statement to the Hong Kong stock exchange. The preference shares would raise HK$19.5 billion and warrants HK$1.95 billion, subject to adjustment.Aviation 2020 Ltd., a Hong Kong government-connected entity, is extending a HK$7.8 billion bridge …read more […]
Global banks are seeing renewed appetite from wealth management clients to borrow money to buy stocks as markets rebound, bankers said, which comes just months after the strategy burned some investors.
Hong Kong’s government will lead a near HK$30 billion ($3.9 billion) bailout package for Cathay Pacific Airways Ltd giving it two observer seats in the boardroom, the South China Morning Post reported on Tuesday, citing sources.
Cathay Pacific Airways Ltd announced on Tuesday a recapitalisation plan worth HK$39 billion ($5.03 billion) led by the Hong Kong government to help it weather the coronavirus pandemic.
Oil prices climbed on Tuesday as the easing of coronavirus lockdown measures across the globe lifted trader hopes for a swift recovery in demand, though gains were capped by the spectre of persistent oversupply in the market.
Hong Kong’s government will lead a near HK$30 billion ($3.9 billion) bailout package for Cathay Pacific Airways Ltd giving it two observer seats in the boardroom, the South China Morning Post reported on Tuesday, citing sources.
Taiwan Semiconductor Manufacturing Co Ltd (TSMC) is still in talks with the U.S. government about subsidies for its new plant in Arizona, chairman Mark Liu said on Tuesday.
The U.S. units of China Telecom Corp’s and China Unicom urged the Federal Communications Commission (FCC) not to revoke the company’s nearly two-decade old authorization to provide international telecommunications services to and from the United States.
Taiwan Semiconductor Manufacturing Co Ltd (TSMC) could quickly fill the order gap created by the inability to sell to Huawei’s [HWT.UL] HiSilicon chip division due to U.S. restrictions, the company’s chairman said on Tuesday.
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