Business & Finance News
Business sentiment of Asian companies sank to an 11-year low in the second quarter, a Thomson Reuters/INSEAD survey found, with some two-thirds of the firms polled flagging a worsening COVID-19 pandemic as the biggest risk over the next six months.
Asian share markets took a breather on Wednesday as a resurgence of coronavirus cases challenged market confidence in a rapid economic recovery, even as the rebound in U.S. retail sales in May broke all records.
The dollar held firm against many of its rivals on Wednesday after U.S. retail sales jumped far more than expected in May, while risk-sensitive currencies were hobbled by concerns about the coronavirus and diplomatic tensions in Asia.
Oil prices retreated on Wednesday, weighed down by an increase in U.S. crude inventories and worries about a potential second wave of the coronavirus pandemic.
Asian stocks were set to climb on Wednesday after another late Wall Street surge in response to upbeat trial results for a COVID-19 treatment and data showing U.S. consumers spent big in May.
U.S. senators introduced legislation on Tuesday that would strengthen FAA oversight of aircraft certification following fatal Boeing Co 737 MAX crashes, though a victim’s father said the bill, while a positive step, “still lacks teeth.”
U.S. FAA chief Steve Dickson will tell a Senate committee at a hearing on Wednesday that transparency is key to restoring public trust in the agency and planemaker Boeing Co in the wake of fatal 737 MAX crashes, according to a copy of his written testimony seen by Reuters.
Bayer AG said on Tuesday it will scrap a nearly $1 billion project to produce the chemical dicamba in the United States, but said the move is unrelated to a federal court decision that blocked sales of weed killers based on the product.
Tesla Inc has signed a three-year pricing deal with Japan’s Panasonic Corp relating to the manufacture and supply of lithium-ion battery cells at the Gigafactory in Nevada, the electric carmaker disclosed in a filing on Tuesday.
U.S. prosecutors on Tuesday said a former Green Beret and his son, wanted by Japan for helping former Nissan Motor Co boss Carlos Ghosn flee the country, were advancing a “flawed” interpretation of Japanese law to fight their extradition.
Southwest Airlines Co said on Tuesday it will continue to limit bookings on its flights until at least September to maintain space between passengers.
Risk appetite found new life on Tuesday on a record rebound in U.S. retail sales, fresh support from the Federal Reserve and Bank of Japan, and upbeat trial results for a COVID-19 treatment, driving global equity markets higher and boosting the dollar.
Wall Street advanced on Tuesday as the prospect of additional stimulus and a record jump in retail sales suggested the U.S. economy could bounce back sooner than expected, five months into its pandemic-inflicted recession.
Six former eBay Inc employees have been criminally charged with mounting a cyberstalking campaign against a Massachusetts couple whose online newsletter they viewed as critical of the e-commerce company, U.S. prosecutors announced on Monday.
German investor Heinz Hermann Thiele sharply criticised a 9-billion-euro ($10.14 billion) bailout deal for carrier Lufthansa , saying he had raised his stake in the group to more than 15% and hoped alternative options could be explored.
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