Business & Finance News
The vast, glitzy gaming halls of Macau are open, but thousands of baccarat tables are empty. The world’s biggest gambling hub has barred entry to most travellers and hotels are being used to isolate new arrivals in case they have been infected by coronavirus.
Asian equities fell for a second session on Thursday, after a dire warning about the U.S. coronavirus death toll had investors looking to the safety of dollars and bonds and bracing for more bad news from U.S. jobless figures.
Japan’s SoftBank Group Corp will not complete a $3 billion tender offer for additional WeWork shares agreed last year with its shareholders, a special committee of the U.S.-based shared-office operator’s board said on Wednesday.
China’s ports and shipping firms are bracing for a second wave of supply chain disruptions that may be deeper and more prolonged than during the country’s coronavirus lockdown as the global spread of the virus chokes off international demand.
IAG-owned British Airways is expected to announce a suspension of about 36,000 of its employees, BBC News reported on Wednesday.
Crude oil futures jumped nearly 5% in early trading on Thursday after U.S. President Donald Trump said he expected Saudi Arabia and Russia to reach a deal in the next few days to end their oil price war.
Elon Musk’s rocket company SpaceX has banned its employees from using video conferencing app Zoom, citing “significant privacy and security concerns,” according to a memo seen by Reuters, days after U.S. law enforcement warned users about the security of the popular app.
Apple Inc said on Wednesday it would stop taking a cut of some sales for “qualifying” streaming video services on iPhones and other Apple devices, including Amazon.com’s Prime Video.
The dollar held gains on Thursday as investors rushed to the security of the world’s most liquid currency as the coronavirus pandemic caused massive disruptions to global trade.
Asian equity markets and crude oil looked set for further losses on Thursday, after a dire warning about the U.S. coronavirus death toll and mounting evidence the fast-spreading disease has sent the world economy hurtling into a deep recession.
The U.S. Treasury Department plans to hire PJT Partners Inc , Moelis & Co and Perella Weinberg Partners to advise on the airline portion of Washington’s $2 trillion stimulus bill, the Wall Street Journal reported on Wednesday.
The U.S. Federal Trade Commission said on Wednesday it had filed a complaint aimed at forcing Marlboro maker Altria Group to sell its investment in e-cigarette maker JUUL.
The Trump administration is tightening rules to prevent China from obtaining advanced U.S. technology for commercial purposes and then diverting it to military use, several sources told Reuters.
The United States “will work with the world’s largest oil producers to address volatility in global oil markets,” U.S. President Donald Trump’s national security adviser Robert O’Brien said on Wednesday.
U.S. crude oil futures rose 5% on the open on Thursday, reversing Wednesday’s losses, despite growing concerns about a looming economic depression due to the coronavirus pandemic.
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