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Worried comments from Fed's Powell foreshadow even lower mortgage rates
The Fed chief worries about a second wave of COVID and is still against negative rates. …read more […]
Business News
Australia’s Woolworths to reward over 100,000 staff with shares for virus efforts
Australia’s biggest supermarket chain Woolworths Group said on Tuesday it will reward more than 100,000 of its staff with free company shares for their efforts during a period of upheaval amid bushfires and the coronavirus buying frenzy.
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Aveo’s Tivozanib Gets FDA Nod For New Drug Application To Treat Kidney Cancer
Aveo Oncology (AVEO) announced that the U.S. Food and Drug Administration approved the New Drug Application (NDA) for its tivozanib used for the treatment of kidney cancer.Tivozanib is the company’s next-generation vascular endothelial growth factor receptor tyrosine kinase inhibitor (VEGFR-TKI) targeted for the treatment of relapsed or refractory renal cell carcinoma (RCC). The FDA has assigned the application standard review and a Prescription Drug User Fee Act target deadline date of March 31, 2021.“The acceptance of our NDA filing marks yet another important milestone for AVEO, as we pursue our goal of providing RCC patients whose disease has relapsed or …read more […]
Business News
Qatar Petroleum’s $19 bln LNG vessel order boon for S.Korean shipbuilders
South Korea’s ailing shipbuilders have been thrown a lifeline in an increasingly tough market with a $19 billion order from Qatar Petroleum (QP) for liquefied natural gas (LNG) ships, analysts said on Tuesday.
Business News
Qatar Petroleum’s $19 billion LNG vessel order boon for South Korean shipbuilders
South Korea’s ailing shipbuilders have been thrown a lifeline in an increasingly tough market with a $19 billion order from Qatar Petroleum (QP) for liquefied natural gas (LNG) ships, analysts said on Tuesday.
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Lufthansa Gains Following Breakthrough on $10 Billion Bailout
(Bloomberg) — Deutsche Lufthansa AG shares surged after Europe’s biggest airline overcame most of the barriers to receiving a 9 billion-euro ($10 billion) bailout from the German government.The stock gained as much as 8.3% and was priced 6.6% higher at 9.75 euros as of 9:04 a.m. Tuesday, the first day of trading on the Frankfurt bourse since last week.Barriers to the rescue began to crumble late Friday, with Lufthansa agreeing to hand over operating slots at its main hubs to win European Union backing for the deal. Its supervisory board approved the compromise in a vote on Monday.Lufthansa is seeking …read more […]
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TietoEVRY, IBM drop arbitration cases, revamp co-operation deal
“Following this new agreement TietoEVRY and IBM have no notices of arbitration,” it said in the statement. Last year both companies submitted notices of arbitration related to their co-operation. As part of the deal some 180 employees currently employed by IBM will join TietoEVRY’s cloud specialists team, and some 25 employees currently employed by TietoEVRY will join IBM. …read more […]
Business News
Stocks make cautious gains as U.S.-China frictions slow recovery rally
Asian stocks rose on Tuesday as investors’ focus on the prospects of a global coronavirus recovery won out over familiar worries about U.S.-China relations and the depth of economic damage.
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Visa Sees Solid Uptick In Spending As Lockdown Eases
Visa (V) has indicated a solid uptick in consumer spending from April to May, as it continues to actively monitor the Covid-19 impact globally.Most notably, in May, total U.S. payments volume declined 5% year-over-year, a 13 percentage point (ppt) improvement over April. Meanwhile debit grew 12% and credit declined 21% year-over-year in May, a 17 ppt and 9 ppt improvement over April, respectively.“The continued distribution of Economic Impact Payments and the relaxing of shelter-in-place restrictions in a number of states are driving these trends” Visa stated.However, recovery in international markets in which Visa processes the majority of transactions lagged the …read more […]
Business News
Virgin Australia administrator picks Bain, Cyrus as final bidders
Virgin Australia Holdings Ltd’s administrator said on Tuesday it had selected Bain Capital and Cyrus Capital Partners as the final bidders for the country’s second-biggest airline.
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Business News
French Finance Minister: Renault loan not signed yet, but should be soon
French Finance Minister Bruno Le Maire said on Tuesday the government had not yet signed off on a planned 5 billion euro ($5.6 billion) loan for carmaker Renault , though he hoped the loan would be agreed soon.