Business & Finance News
A bet on tech companies has been a solid one in the aftermath of the coronavirus-induced market crash, but some investors are questioning whether those stocks can maintain their momentum if jobs do not recover soon.
A 6.3 billion euro ($7 billion) state-backed loan for Fiat Chrysler (FCA) financed by Intesa Sanpaolo is crucial to safeguard Italy’s economy, the head of the country’s biggest bank said.
Bank of America Corp agreed to pay $7.23 million in restitution and interest to settle a U.S. regulator’s accusations that it overcharged customers on mutual funds.
World markets swung between hope and caution on Thursday as a another shot of European Central Bank stimulus was offset by still-troublesome U.S. data and general fatigue after a weeks-long rebound in risk appetites
U.S. stocks opened lower on Thursday as a rally fueled by hopes of an economic rebound from a coronavirus-led downturn ran out of steam even with weekly jobless claims dipping below 2 million for the first time since mid-March.
Germany unveiled sweeping incentives for cheap electric cars, providing a boost to Volkswagen’s electric push while penalising heavy sports utility vehicles (SUVs) with new staggered taxes for polluting combustion-engined cars.
Hong Kong’s stock exchange expects many U.S.-listed Chinese firms to list on its bourse this year, in part because of U.S. political pressure following China’s new national security legislation on Hong Kong, the head of the exchange said on Thursday.
U.S. stock indexes were set to open lower on Thursday as a rally fueled by optimism over an economic rebound from a coronavirus-led downturn ran out of steam even with weekly jobless claims dipping below 2 million for the first time since mid-March.
World markets got another shot of energy on Thursday as the European Central Bank (ECB) ramped up its Pandemic Emergency Purchase Programme (PEPP) to 1.35 trillion euros.
Oil prices dropped on Thursday on doubts over the ability of crude producers to agree to extend record output cuts, heightened by worries over a build in U.S. fuel inventories.
Citigroup Inc said on Thursday it is forming a new strategic advisory group within its investment bank.
Investors eyeing a turnaround in the U.S. economy are piling into U.S. bank stocks even as some caution that positive stress test results and an abatement of loan losses will be needed to sustain a rally in the battered sector.
Germany said it will oblige all petrol stations to offer electric car charging as part of a sweeping 130 billion euro ($146.26 billion) economic recovery plan, boosting electric vehicle demand which has been hampered by consumer concerns over refuelling.
Virgin Atlantic said on Thursday it would restart some flights that have been grounded by the COVID-19 pandemic on July 20 and aimed to restore further services in August.
Germany’s coronavirus recovery stimulus package contains measures to boost low emission cars and electric vehicle charging infrastructure.
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