Business & Finance News
Finnair launched a share sale on Wednesday to raise 500 million euros ($568 million) from its existing investors, almost as much as its current market value as it seeks to strengthen its finances to cope with the coronavirus crisis.
Oil fell more than 1% towards $40 a barrel on Wednesday after a report showed a rise in crude inventories in the United States, reviving concerns about oversupply and weak demand due to the coronavirus crisis.
The euro held below a three-month high against the dollar amid speculation the U.S. Federal Reserve might announce more steps to check a recent rise in bond yields later on Wednesday.
The global economy will suffer the biggest peace-time downturn in a century before it emerges next year from a coronavirus-inflicted recession, the OECD said on Wednesday.
Germany should make provisions to ensure banks have sufficient capital in case of a wave of bankruptcies in Europe’s largest economy caused by the coronavirus crisis, a senior OECD economist said on Wednesday.
World stock markets hovered below three-month highs on Wednesday, while the dollar stumbled ahead of a meeting of the U.S. Federal Reserve.
Business conditions are improving after a tough start to the year, Credit Suisse Chief Executive Thomas Gottstein said in a presentation released on Wednesday.
Emirates laid off more pilots and cabin crew on Wednesday in a second day of redundancies at one of the world’s biggest long-haul airlines, three company sources said.
The head of the NATO military alliance said on Wednesday that the West could not ignore the rise of China and so it was important that the United Kingdom had a review of the role of Huawei in its 5G network to ensure its security.
Oil prices fell on Wednesday after a rise in crude and fuel stockpiles in the United States revived fears about oversupply and falling fuel demand in the world’s largest crude consumer amid the coronavirus outbreak.
Swiss private bank Julius Baer faces investigation by watchdog FINMA over whether it followed correct procedures against money laundering in its ties with a former Argentine client, the Neue Zuercher Zeitung newspaper said on Wednesday.
The dollar fell against most currencies on Wednesday amid some speculation the U.S. Federal Reserve could take steps to curb a recent rise in bond yields in a policy decision later in the day.
Asia’s stock markets edged up to a fresh three-month high on Wednesday, with the dollar again under pressure but sentiment was largely cautious ahead of the U.S. Federal Reserve’s next move.
European Central Bank officials are drawing up a scheme to cope with potentially hundreds of billions of euros of unpaid loans in the wake of the coronavirus outbreak, two people familiar with the matter told Reuters.
Emirates, one of the world’s biggest long-haul airlines, will lay off more pilots and cabin crew on Wednesday, sources said, in what would be a second day of redundancies.
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