Business & Finance News
France’s Accor , which runs hotels such as Ibis and Movenpick, said on Friday it would offer its clients free access to online medical consultations run by insurer AXA as it prepares for a recovery from the coronavirus crisis.
Sweden’s central bank will engage BlackRock’s Financial Markets Advisory for analysis work on the Swedish corporate bonds market, it said in a statement on Friday.
World stocks rose on Friday and oil prices jumped more than 3%, taking the sting out of a week that has seen sentiment hit as deteriorating U.S.-China relations added to worries over how fast economies could recover from the coronavirus shock.
U.S. President Donald Trump signaled a further deterioration of his relationship with China over the coronavirus outbreak, saying he has no interest in speaking to President Xi Jinping right now and going so far as to suggest he could even cut ties with the world’s second largest economy.
Asian stocks edged up on Friday but were on course to end the week lower as deteriorating U.S.-China relations add to uncertainties over how fast economies can recover as they start to emerge from lockdowns.
Cathay Pacific Airways Ltd said on Friday it made an unaudited loss of HK$4.5 billion ($580.53 million) at its full-service airlines during January-April and flagged a “very bleak” outlook as the coronavirus crisis grounded planes globally.
Australia’s Westpac Banking Corp said in a defence filing in Federal Court on Friday it was admitting to a number of failures in a case where it has been accused of 23 million breaches of anti-money laundering and counter-terrorism laws.
Europe’s biggest bank, HSBC has cut already bleak global growth forecasts even further, as lockdown restrictions extended through April and tentative economic re-openings drag on a return to business, trade and spending.
Worker welfare is having a moment on Wall Street.
Chipmaker Taiwan Semiconductor Manufacturing Co’s $12 billion investment in the United States will increase U.S. economic independence from China, Secretary of State Mike Pompeo said in a statement early on Friday.
Taiwan Semiconductor Manufacturing Co Ltd , the biggest contract chipmaker, said it plans to build a $12 billion factory in Arizona in an apparent win for the Trump administration’s efforts to wrestle global tech supply chains back from China.
Cathay Pacific Airways Ltd said on Friday it made an unaudited loss of HK$4.5 billion ($580.53 million) at its full-service airlines in the first four months of the year and the financial outlook remained “very bleak” due to the pandemic.
Australia’s second largest bank Westpac Banking Corp on Friday said it has filed its defence in a case where it is accused of 23 million alleged breaches of anti-money laundering laws.
The airline industry is not likely to recover to pre-coronavirus levels for at least the next six to 12 months, Southwest Airlines Co Chief Executive Officer Gary Kelly said on Thursday.
Asian stocks struggled to extend gains on Friday and were on course to end the week lower as deteriorating U.S.-China relations undercut optimism over the reopening of major economies.
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