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Oh brother! Coronavirus calls split family fortunes on Wall Street
(This story contains language that some readers might find offensive in the 21st paragraph)
Business News
Business News
Locked-down investors aim algorithms at chaotic currency markets
A new breed of trading algorithms has deftly navigated the turbulence in currency markets caused by the coronavirus pandemic, driving up demand for robots and potentially reshaping the world of foreign-exchange dealing beyond the crisis.
Business News
China crude oil runs hit 15-month low as virus cripples demand
China’s daily crude oil throughput in March sank to a 15-month low with state refiners maintaining deep output cuts as the coronavirus pandemic erodes demand, but there are some signs of recovery as the country begins to ease virus-related curbs.
Business News
Oil mixed as shrinking China economy overshadows Trump plan to ease U.S. coronavirus lockdown
Oil prices were mixed on Friday after the weakest Chinese economic data in decades showed the impact of the coronavirus pandemic, offsetting some earlier gains on optimism for President Donald Trump’s early plans to revive the U.S. economy.
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Cathay Pacific to close U.S. cabin crew bases, laying off 286 staff
Hong Kong’s Cathay Pacific Airways Ltd will close its three cabin crew bases in the United States, the airline said on Friday, laying off 286 staff as the coronavirus pandemic has virtually halted global travel.
Business News
Hobbled by coronavirus, China’s first-quarter GDP shrinks for first time on record
China’s economy shrank for the first time in almost three decades of records in the first quarter, as the coronavirus paralysed production and spending, raising pressure on authorities to do more to stop mounting job losses.
Business News
Asia shares up as plans to re-open U.S economy offset record slump in China GDP
Asian stocks gained on Friday as President Donald Trump’s plans to gradually re-open the U.S. economy offset data that showed China suffered its worst economic contraction on record due to the coronavirus outbreak.
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Isntant View: China’s first-quarter GDP posts first decline on record as virus shuts down economy
China’s economy shrank 6.8% in January-March from a year earlier, official data showed on Friday, the first such decline since at least 1992 when quarterly gross domestic product (GDP) records began.
Business News
Instant View: China’s first-quarter GDP posts first decline on record as virus shuts down economy
China’s economy shrank 6.8% in January-March from a year earlier, official data showed on Friday, the first such decline since at least 1992 when quarterly gross domestic product (GDP) records began.
Business News
China posts first GDP decline on record as coronavirus cripples economy
China’s economy shrank for the first time since at least 1992 in the first quarter, as the coronavirus outbreak paralysed production and spending, raising pressure on authorities to do more to stop mounting job losses.
Business News
China March crude oil runs hit 15-month low as refiners extend output cuts
China’s daily crude oil throughputs hit their lowest monthly level in March since December 2018 as state refiners maintained deep cuts in production levels as the coronavirus pandemic undercut fuel demand.
Business News
China March industrial output falls 1.1% year-on-year, better than forecast; first-quarter investment slides 16.1%
China’s industrial output fell a less steeper-than-expected 1.1% in March from a year earlier, data from the National Bureau of Statistics showed on Friday, as the coronavirus crisis and strict containment measures severely disrupted the world’s second-largest economy.
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China’s January-March property investment down 7.7% from a year earlier
Real estate investment in China fell 7.7% in the first three months of 2020 from a year earlier, official data showed on Friday.
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Most U.S. firms have no plans to leave China due to coronavirus: survey
The majority of American companies in China have no plans to relocate production or sourcing activities to other parts of the country or abroad due to the coronavirus, a survey showed on Friday.
Business News
Report says COVID-19 patients respond to Gilead’s remdesivir, shares surge
Gilead Sciences Inc’s shares surged 16% in after hours trading on Thursday following a media report detailing encouraging partial data from trials of the U.S. company’s experimental drug remdesivir in severe COVID-19 patients.