Business & Finance News
When the U.S. Department of Justice charged a handful of JP Morgan Chase & Co traders in 2018 and 2019 with alleged commodities futures manipulation, it wasn’t the first time the government had probed the bank’s metals trading activities.
A chastened Masayoshi Son summed up SoftBank Group Corp’s record $13 billion operating loss on stage this week with a striking image: unicorns tumbling into the “valley of the coronavirus”.
Equity markets slipped on Thursday on concerns about the long-term impact of the new coronavirus and simmering U.S.-China tensions, though those worries couldn’t stop oil prices from marching to a 2-1/2 month high.
Oil rose on Thursday to its highest since March, supported by lower U.S. crude inventories, OPEC-led supply cuts and recovering demand as governments ease restrictions on people’s movements imposed due to the coronavirus crisis.
The collapse in oil prices to 21-year lows has led potential buyers of oil and gas fields to try and renegotiate deals already agreed at higher prices, with the first examples emerging of sellers having their hand forced.
Israel’s Sonovia Ltd, which makes washable and reusable anti-viral masks, is considering going public on Nasdaq by the end of this year, its chief technology officer said.
Japan on Thursday said it hoped that the two men arrested in the United States and wanted in Japan on charges related to former Nissan Motor Co boss Carlos Ghosn’s escape from the country would be extradited to Japan soon.
SoftBank Group Corp said it plans to sell 5% of its domestic telco SoftBank Corp , currently worth $3.1 billion, as part of a programme to raise $41 billion through asset sales.
Lufthansa is in advanced talks over a 9 billion euros ($9.9 billion) state bailout that would see Germany take a 20% stake in its flagship airline, as countries battle to save an aviation industry hammered by the coronavirus pandemic.
SoftBank Group Corp said it plans to sell 5% of its domestic telco SoftBank Corp as part of its plan to raise $41 billion through asset sales.
JPMorgan Chase & Co plans to hire at least 12 equity research analysts in China this year, two people with knowledge of the matter said, in its first major mainland hiring push as it takes advantage of eased ownership rules for financial firms.
Oil prices rose on Thursday to their highest since March, as a drawdown of U.S. crude inventories and output cuts by major producers helped ease concerns about a supply glut, offsetting fears over the economic fallout from the COVID-19 epidemic.
Asian shares and Wall Street futures stepped back on Thursday as resurgent concerns about the long-term impact of the coronavirus outbreak offset some of this week’s earlier enthusiasm about economies re-opening.
Against the backdrop of a global pandemic, steep recession, intensifying U.S-China tensions and rising protectionism, the WTO needs to name a leader. Only the resilient should apply.
Schlumberger, the world’s largest oilfield services firm, will reshuffle top executives and operations in coming months to deal with this year’s historic decline in the oil industry, according to a memo to employees.
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