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July 13, 2020

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World stock markets slip on second wave virus fears, safe-havens rise

Reuters
by Reuters033
NEW YORK/LONDON (Reuters) – Global stock markets fell on Thursday as a continued rise in the number of coronavirus cases dashed hopes of a swift recovery from the pandemic-induced economic slump and drove demand for safe-haven currencies such as the dollar and Japanese yen. Traders wear masks as they work......
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Chanel warns virus impact will linger on luxury sector

Reuters
by Reuters021
MILAN/PARIS (Reuters) – The luxury industry will feel the fallout from the coronavirus crisis for the next two years if not longer, Chanel’s chief financial officer said on Thursday, warning the French fashion label’s 2020 revenues and profit would be significantly hit. Chanel bags and creations are displayed on mannequins......
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Wirecard faces loan crunch over missing $2.1 billion

Reuters
by Reuters014
BERLIN (Reuters) – Wirecard’s auditor has refused to sign off its 2019 accounts over a missing $2.1 billion, sending the German payments firm’s shares down over 60% on Thursday as it warned the delay could cause billions in loans to be called in as early as Friday. FILE PHOTO: An......
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Exclusive: Who’s in charge at Nissan? COO’s allies push to give him shared CEO role – sources

Reuters
by Reuters030
(Reuters) – Nissan’s chief operating officer Ashwani Gupta helped engineer the troubled automaker’s latest turnaround plan. Now his allies are pressing the board to promote him to co-CEO to drive the new strategy, said four people with direct knowledge. FILE PHOTO: Nissan Motor COO Ashwani Gupta speaks during a news......
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U.S. Chamber urges China to accelerate purchases of U.S. goods

Reuters
by Reuters018
Chinese and U.S. flags flutter in Shanghai, China June 3, 2020. REUTERS/Aly Song WASHINGTON (Reuters) – The U.S. Chamber of Commerce on Thursday underscored the importance of functional U.S.-China ties and urged Beijing to step up its purchases of U.S. goods and services as agreed under a Phase 1 trade......
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Stocks drift as second wave virus fears mount

Reuters
by Reuters018
LONDON/TOKYO (Reuters) – Global stocks drifted on Thursday as spiking coronavirus cases in some U.S. states and China crushed hopes of a quick global economic comeback from the pandemic. FILE PHOTO: A street cleaning operative walks past the London Stock Exchange Group building in the City of London financial district,......
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Reuters - Business

Global stocks retreat as investors fret over coronavirus relapse

Reuters
by Reuters014
TOKYO/WASHINGTON (Reuters) – Asian stocks and Wall Street futures fell on Thursday as spiking coronavirus cases in some U.S. states and in China dented hopes of a quick global economic comeback from the pandemic. FILE PHOTO: A man wearing a protective face mask, following the coronavirus disease (COVID-19) outbreak, is......
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Coronavirus second wave fears boost yen; Aussie dollar falls after data

Reuters
by Reuters013
LONDON (Reuters) – The Japanese yen strengthened slightly on Thursday as growing concerns about a rise in new coronavirus cases underpinned safe-haven demand for the currency, while the U.S. dollar was little changed versus the euro. FILE PHOTO: Japan Yen and U.S. Dollar notes are seen in this June 22,......
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Australian regulator says Google’s $2.1 billion Fitbit deal could harm competition

Reuters
by Reuters014
SYDNEY/BENGALURU (Reuters) – Australia’s antitrust regulator warned Google’s planned $2.1 billion acquisition of fitness tracker maker Fitbit (FIT.N) may give it too much of people’s data, potentially hurting competition in health and online advertising markets. FILE PHOTO: Fitbit Blaze watch is seen in front of a displayed Alphabet logo in......
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Special delivery: activists urge France to rein in Amazon

Reuters
by Reuters026
FILE PHOTO: People walk past a protest sign “Stop Amazon” during a demonstration by climate activists near the Bercy Finance Ministry in Paris, France, June 17, 2020. REUTERS/Gonzalo Fuentes PARIS (Reuters) – Environmental campaigners delivered a 12-foot (3.6-metre) tall mock-up of an Amazon parcel to the French finance ministry on......
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Stocks grind higher on recovery hopes

Reuters
by Reuters015
LONDON/SYDNEY (Reuters) – Europe’s shares added to their best gains in almost a month as safety plays lost their lustre on Wednesday, with hopes of a rapid economic recovery standing firm against a resurgence of global coronavirus cases. FILE PHOTO: Pedestrians leave and enter the London Stock Exchange in London,......
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HSBC revives 35,000 job cut plan after pandemic pause

Reuters
by Reuters015
LONDON (Reuters) – HSBC is resuming plans to cut around 35,000 jobs which it put on ice after the coronavirus outbreak, as Europe’s biggest bank grapples with the impact on its already falling profits. FILE PHOTO: A woman wearing a protective face mask walks past a logo of HSBC bank......
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Dollar treads water on Fed views, geopolitics

Reuters
by Reuters012
LONDON (Reuters) – The dollar was little changed on Wednesday after U.S. retail sales rose more than expected in May, although caution kept investors from aggressively buying riskier currencies like the Australian dollar. FILE PHOTO: U.S. Dollar banknotes are seen in this photo illustration taken February 12, 2018. REUTERS/Jose Luis......
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Reuters - Business

HSBC revives plan to axe 35,000 jobs, memo shows

Reuters
by Reuters019
FILE PHOTO: A woman wearing a protective face mask walks past a logo of HSBC bank at the financial and business district of La Defense near Paris as France begun a gradual end to a nationwide lockdown due to the coronavirus disease (COVID-19), May 11, 2020. REUTERS/Gonzalo Fuentes LONDON (Reuters)......
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Reuters - Business

Asia stocks turn cautious on virus surge, geopolitics

Reuters
by Reuters017
SYDNEY (Reuters) – Asian share markets took a cautious turn on Wednesday as a resurgence of global coronavirus cases challenged market confidence in a rapid economic recovery, even as the rebound in U.S. retail sales in May broke all records. FILE PHOTO: A visitor takes a photograph of a board......
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Reuters - Business

Dollar firm after U.S. retail sales jump, risk currencies softer

Reuters
by Reuters023
TOKYO (Reuters) – The dollar held firm against many of its rivals on Wednesday after U.S. retail sales jumped far more than expected in May, FILE PHOTO: Saudi riyal, yuan, Turkish lira, pound, U.S. dollar, euro and Jordanian dinar banknotes are seen in this illustration taken January 6, 2020. REUTERS/Dado......
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Reuters - Business

Asian business sentiment plunges to record low on virus effect: Thomson Reuters/INSEAD survey

Reuters
by Reuters019
SINGAPORE (Reuters) – Business sentiment of Asian companies sank to an 11-year low in the second quarter, a Thomson Reuters/INSEAD survey found, with some two-thirds of the firms polled flagging a worsening COVID-19 pandemic as the biggest risk over the next six months. FILE PHOTO: A worker wearing a protective......
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Reuters - Business

Dollar firm after retail sales jump fans recovery hopes

Reuters
by Reuters022
TOKYO (Reuters) – The dollar held firm against many of its rivals on Wednesday after U.S. retail sales jumped far more than expected in May, while risk-sensitive currencies were hobbled by concerns about the coronavirus and diplomatic tensions in Asia. FILE PHOTO: U.S. Dollar banknotes are seen in this photo......
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Reuters - Business

Asian stocks set to rise as drug trials, data push Wall Street higher

Reuters
by Reuters015
WASHINGTON (Reuters) – Asian stocks were set to climb on Wednesday after another late Wall Street surge in response to upbeat trial results for a COVID-19 treatment and data showing U.S. consumers spent big in May. FILE PHOTO: A man wearing a protective face mask, following the coronavirus disease (COVID-19)......
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Reuters - Business

Tesla signs three-year pricing deal with battery cell maker Panasonic

Reuters
by Reuters019
FILE PHOTO: The company logo is pictured on a Tesla Model X electric car in Berlin, Germany, November 13, 2019. REUTERS/Fabrizio Bensch (Reuters) – Tesla Inc (TSLA.O) has signed a three-year pricing deal with Japan’s Panasonic Corp (6752.T) relating to the manufacture and supply of lithium-ion battery cells at the......
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