The dollar slipped for a second consecutive day on Tuesday after the U.S. Federal Reserve unveiled fresh measures to supply precious liquidity into funding markets, sending risky currencies such as the Australian dollar soaring.
Britain’s biggest sportswear retailer JD Sports said on Tuesday it has delayed the publication of its financial results to May and has enough cash resources to ride out the coronavirus crisis.
Norwegian Air has fulfilled the first condition to access a government-led rescue package for the airline industry and secured an initial cash infusion of 300 million Norwegian crowns ($26.6 million), the budget carrier said on Tuesday.
Oil prices rose around 4% on Tuesday on hopes that the United States will soon reach a deal on a $2 trillion coronavirus aid package that could blunt the economic impact of the outbreak and in turn support oil demand.
The dollar slipped on Tuesday on signs tight funding conditions are easing slightly after the U.S. Federal Reserve pulled out all stops to supply much needed greenback liquidity.
Norwegian Air has fulfilled the first condition for taking part in a government-led rescue package for the airline industry, securing an initial cash infusion of 300 million Norwegian crowns ($26.63 million), the budget carrier said.
Norwegian Air has fulfilled the first condition to access a government-led rescue package for the airline industry and secured an initial cash infusion of 300 million Norwegian crowns ($26.6 million), the budget carrier said on Tuesday. Norway said on March 19 that Norwegian Air could obtain credit guarantees worth up to 3 billion crowns to help it to weather the coronavirus crisis but must first comply with a series of conditions. The condition for receiving the first 300 million crowns from the package was that commercial lenders were willing to supply 10% of that amount while the …read more […]
(Bloomberg) — U.S. and European futures climbed on Tuesday after global equities hit their lowest level since 2016, while the dollar snapped a 10-day rally and Treasuries dipped as appetite for riskier assets revived.Contracts on the S&P 500 rose over 4%, more than making up what the index lost on Monday. Benchmarks in Tokyo, Hong Kong and Sydney climbed at least 3%. Korean shares jumped almost 9% as the government announced measures to stabilize financial markets. The dollar retreated against developed and emerging currencies alike, in a tentative sign of reduced stress after the steepest appreciation since the global financial …read more […]
Asian equities markets rallied on Tuesday as investors bet the U.S Federal Reserve’s promise of unlimited dollar funding would ease painful strains in financial markets even if it could not stop the economic hit of the coronavirus epidemic.
Softbank, the giant Japanese investment group that has made huge bets on the sharing economy, is looking to cut its stake in Alibaba, according to reports. And possibly in Sprint too.On Monday, Masayoshi Son, founder and CEO of the heavily indebted Softbank, said that he would raise or monetize $41 billion of assets, in order to put the group on a sounder financial footing. The company did not specify which assets are to be sold.On Tuesday, Bloomberg reported that more than a third of the total would be raised by selling a $14 billion tranche of shares in Chinese e-commerce …read more […]
As airlines idle thousands of aircraft for which there are no passengers, they are hitting an unprecedented problem: finding a place to park them.
SINGAPORE/MELBOURNE (Reuters) – Oil prices rose on Tuesday on hopes that the United States will reach a deal soon on a $2 trillion coronavirus aid package which could blunt the economic impact of the outbreak and in turn support oil demand. Brent crude oil futures for May delivery rose by 62 cents, or 2.3%, to $27.65 a barrel by 0346 GMT while West Texas Intermediate (WTI) crude futures gained 76 cents, or 3.3%, to $24.12. “Oil is clawing its way higher mainly on the back of the weaker dollar that stemmed from the Fed’s unprecedented measures,” said Edward …read more […]
U.S. crude oil futures climbed nearly 3% on Tuesday in light trading as the Trump administration launched an effort to work with Saudi Arabia to stabilise oil prices.
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