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- Global shares hit three-month highs on economic recovery hopes
Wed, 03 Jun 2020 05:27:34 -0400
World shares hit three-month highs on Wednesday and the dollar fell for the sixth day running as easing lockdowns and hopes for more monetary stimulus gave investors confidence, despite civil unrest in the United States and rising COVID-19 tolls.
- Exclusive: Huawei hid business operation in Iran after Reuters reported links to CFO
Wed, 03 Jun 2020 05:12:50 -0400
China's Huawei Technologies acted to cover up its relationship with a firm that had tried to sell prohibited U.S. computer gear to Iran, after Reuters in 2013 reported deep links between the firm and the telecom-equipment giant's chief financial officer, newly obtained internal Huawei documents show.
- Oil tops $40 for 1st time since March on OPEC cuts, demand recovery
Wed, 03 Jun 2020 04:55:29 -0400
Oil rose on Wednesday, topping $40 a barrel for the first time since March, supported by lower U.S. inventories, expectations OPEC+ will keep oil output cuts in place and signs of demand recovery from the coronavirus crisis.
- Shell weighs sale of $2 billion-plus stake in Queensland LNG facilities
Wed, 03 Jun 2020 04:28:44 -0400
Royal Dutch Shell is considering raising more than $2 billion from the sale of a stake in the common facilities at its Queensland Curtis LNG plant in Australia, according to a sale flyer reviewed by Reuters.
- Lufthansa vows extensive revamp as losses balloon
Wed, 03 Jun 2020 04:19:12 -0400
Lufthansa has pledged a wide-ranging restructuring, from job cuts to sales of non-core assets, as it seeks to repay a 9 billion euro ($10.1 billion) state bailout and navigate deepening losses in the face of the coronavirus pandemic.
- Geely's Volvo Cars sales soar 40% in May vs month-ago as virus curbs ease
Wed, 03 Jun 2020 04:17:49 -0400
Volvo Cars, owned by China's Geely Holding, said on Wednesday it sold 40% more cars in May than in April, as restrictions to contain the spread of the COVID-19 pandemic started to ease in several markets.
- Nomura considers having fewer staff at headquarters permanently
Wed, 03 Jun 2020 04:12:48 -0400
Nomura Holdings Inc is considering having fewer staff work at its Tokyo headquarters permanently now that the coronavirus pandemic has spurred a huge shift to remote working, its chief executive said.
- U.S. senator Cotton cautions Britain over Huawei cooperation
Wed, 03 Jun 2020 04:05:26 -0400
U.S. Republican Senator Tom Cotton cautioned Britain on Wednesday that a decision to allow China's Huawei a role in 5G networks could hurt military cooperation and be an issue in trade talks.
- China drives global oil demand recovery out of coronavirus collapse
Wed, 03 Jun 2020 03:40:14 -0400
China's oil demand has recovered to more than 90% of the levels seen before the coronavirus pandemic struck early this year, a surprisingly robust rebound that could be mirrored elsewhere in the third quarter as more countries emerge from lockdowns.
- Geely's Polestar to open 20 showrooms in China to compete with Tesla
Wed, 03 Jun 2020 03:29:54 -0400
Polestar, the premium electric vehicle maker owned by China's Geely, plans to open 20 showrooms in the mainland, as it prepares for delivery of its Polestar 2 electric sedans to compete with Tesla Inc's locally made Model 3.
- Renault finalises 5 billion euro state-backed loan
Wed, 03 Jun 2020 02:57:42 -0400
Renault finalised on Wednesday a 5 billion euro ($5.60 billion) loan from with the French government, strengthening the carmaker's finances in the wake of the coronavirus pandemic which has ravaged the auto industry.
- Virgin Australia bidders get 10-day extension for final offers, source says
Wed, 03 Jun 2020 02:37:34 -0400
Virgin Australia Holdings Ltd's administrator has given final bidders Bain Capital and Cyrus Capital Partners until June 22 to lodge binding offers, an extension of 10 days from the original date, a person with knowledge of the matter said on Wednesday.
- BlackRock focuses on China credit, oil and travel in Asia
Wed, 03 Jun 2020 02:34:06 -0400
The world's biggest asset manager, BlackRock Inc, called out oil stocks, domestic tourism and debt in China and India as investment opportunities in its Asia outlook on Wednesday.
- TUI strikes compensation deal with Boeing, delays 737 MAX orders
Wed, 03 Jun 2020 02:13:19 -0400
TUI Group , Europe's biggest travel company, said it had struck a deal with aircraft maker Boeing for compensation and slower delivery of the 737 MAX plane, helping its finances during the coronavirus pandemic.
- As Asia's tropical storm season arrives, grounded airplanes at risk of damage
Wed, 03 Jun 2020 00:17:11 -0400
Airlines, airports and insurers across Asia are bracing for the prospect of unusually high damage as the region's tropical storm season begins, as hundreds of aircraft grounded by the coronavirus pandemic can't be moved easily.
- Big in China and tiny in the U.S., Fast Retailing seen weathering pandemic
Tue, 02 Jun 2020 22:29:54 -0400
The coronavirus pandemic is shredding the global apparel industry, stripping hundreds of billions of dollars from sales and thrusting big names like J.Crew into bankruptcy protection.
- Google faces $5 billion lawsuit in U.S. for tracking 'private' internet use
Tue, 02 Jun 2020 21:04:08 -0400
Google was sued on Tuesday in a proposed class action accusing the internet search company of illegally invading the privacy of millions of users by pervasively tracking their internet use through browsers set in "private" mode.
- U.S. FAA chief to testify at Senate hearing on Boeing 737 MAX
Tue, 02 Jun 2020 21:03:39 -0400
U.S. Federal Aviation Administration chief Steve Dickson will testify June 17 before a U.S. Senate panel on certification of the Boeing 737 MAX that was involved in two fatal crashes in five months that killed 346 people.
- Wells Fargo stops giving loans to most independent car dealerships
Tue, 02 Jun 2020 21:02:03 -0400
Wells Fargo & Co will stop providing loans to a majority of its independent auto dealer customers due to the economic challenges brought on by the COVID-19 pandemic, a spokeswoman said on Tuesday.
- Tech advocacy group's lawsuit says Trump's order on social media is unconstitutional
Tue, 02 Jun 2020 21:01:16 -0400
An advocacy group backed by the tech industry sued President Donald Trump on Tuesday over his executive order that would weaken a law protecting online platforms including social media companies that label or fact-check his posts.