Business & Finance News
Slower economic growth expectations prompted Citi on Monday to slash its forecasts for global remittances, saying this raised the risk to credit ratings of smaller emerging market countries and was set to push up their borrowing costs.
U.S. stocks edged higher on Monday on prospects of a post-pandemic economic recovery, but the sentiment remained fragile amid protests across the country over race and an ongoing standoff between Washington and Beijing.
Brazil’s Embraer SA said on Monday that China and India could be potential new partners, following a Reuters report last week that said those two countries as well as Russia were interested in the planemaker’s commercial jets division.
Shares of Pfizer Inc fell nearly 8% on Monday after an independent data monitoring committee determined the drugmaker’s breast cancer treatment was unlikely to meet the main goal of a late-stage study.
World stocks hovered near three-month highs and safe-haven government bonds inched lower as signs that Europe’s economic downturn has bottomed boosted risk appetite, despite worries over violent protests in the United States and unease over Washington’s standoff with Beijing.
Facebook Inc and Snap Inc became the latest U.S. companies condemning racial inequality in the United States as violent protests flared up across major cities over the death of George Floyd, an unarmed black man who died while in police custody in Minneapolis last week.
Lufthansa’s supervisory board said on Monday it had approved a 9 billion euro ($10 billion) government bailout that will force the German airline to give some of its prized landing slots to rivals.
U.S. construction spending fell less than expected in April even as other sectors of the economy buckle under the COVID-19 crisis.
U.S. manufacturing activity eased off an 11-year low in May, the strongest sign yet that the worst of the economic downturn was behind as businesses reopen, though the recovery from the COVID-19 crisis could take years because of high unemployment.
Nasdaq Inc said it postponed Monday’s planned reopening of its PHLX options trading floor in Philadelphia, which had been closed because of the coronavirus pandemic, due to the demonstrations over the death of a black man, George Floyd, in police custody.
The U.S. Supreme Court on Monday refused to hear a bid by major banks and companies including Koch Industries Inc to prevent a trustee chasing money for victims of imprisoned Ponzi scheme swindler Bernard Madoff from recouping funds that were transferred overseas.
Oil fell on Monday on worries about renewed tensions between the United States and China, although reports that OPEC and Russia were closer to a deal on extending oil output cuts lent some support to prices.
Brazilian planemaker Embraer SA said on Monday that it expects to sign new strategic partnerships in the future, after Boeing Co abruptly canceled a deal in April to take over the company’s commercial jet division.
Helicopter and jet makers are turning to digital technology so customers can inspect their big-ticket purchases remotely before taking delivery, as they strive to push through deals paralyzed by the coronavirus pandemic and bring in much needed cash.
Nasdaq Inc said it postponed Monday’s planned reopening of its PHLX options trading floor in Philadelphia, which had been closed because of the coronavirus pandemic, due to the demonstrations over the death of a black man, George Floyd, in police custody.
Copyright 1997-2019 Wall Street Reporter / Octagon Media Corp.
