Business & Finance News
S&P Global Ratings on Tuesday lowered its outlook on Japan’s sovereign debt rating to stable from positive, citing increased uncertainty over the country’s fiscal health as it boosts spending to overcome the effects of the coronavirus pandemic.
HSBC said on Tuesday that it had lowered its year-end forecast on 10-year British government bond yields to 0%, given a small probability of negative interest rates and a sense that rates will stay low for a long period.
Hong Kong will lead a $5 billion rescue of Cathay Pacific Airways , which like other airlines has been hit by a global travel slump triggered by the coronavirus pandemic.
Vitol’s former chief executive and chairman Ian Taylor has died at the age of 64 from cancer, according to an internal memo and four sources familiar the matter.
Oil prices fell on Tuesday weighed down by a stronger dollar and oversupply concerns after it was announced that a trio of Gulf producers would end voluntary output cuts.
S&P Global Ratings said it has revised Japan’s outlook to stable on increased uncertainty around debt stabilization.
A plunge in household spending and investment pulled down euro zone gross domestic product in the first quarter as the COVID-19 pandemic struck, but the fall was slightly smaller than first estimated, the European Union’s statistics office said.
Stock market bulls were forced to a halt on Tuesday and high-flying currencies like the euro and Australian dollar lost altitude, as a weeks-long risk rally ran into some turbulence.
A U.S. Senate report released Tuesday says the U.S. government failed to properly oversee Chinese-owned telecommunications companies for nearly two decades.
Japanese investors have clipped the wings of a resurgent U.S. dollar as they position for the likelihood that the U.S. Federal Reserve will take steps to flatten the Treasury yield curve.
Germany’s bank lobby is set to urge the government to drop some of the conditions attached to a trillion euro rescue scheme, arguing that companies are so reluctant to take the help that it threatens any recovery from the coronavirus outbreak.
Cathay Pacific Airways Ltd revealed on Tuesday the Hong Kong government will lead a recapitalisation plan worth HK$39 billion ($5 billion) to help it through the coronavirus pandemic, the latest public rescue for a troubled airline.
Hong Kong’s government does not intend to hold a stake in Cathay Pacific Airways Ltd long term after leading a rescue package to help it through the coronavirus pandemic, Finance Secretary Paul Chan said on Tuesday.
Oil prices rose on Tuesday, boosted by hopes for a swift recovery in fuel demand as coronavirus lockdown measures are eased across the globe, but gains were capped by the spectre of persistent oversupply in the market.
Clad in black, Beijing’s city inspectors descended on street vendors this week and ordered them to clear out, just days after the Chinese premier had sparked a rush to set up curbside stalls by praising them as a creator of jobs in the coronavirus-hit economy.
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