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June 4, 2020
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Reuters - Business

ECB gives another shot of stimulus as economy reels

Reuters
FRANKFURT (Reuters) – The European Central Bank approved a bigger-than-expected expansion of its stimulus package on Thursday to prop up an economy plunged by the coronavirus pandemic into its worst recession since World War Two. Just months after a raft of crisis measures, the ECB again expanded its money-printing scheme......
Reuters - Business

U.S. banks attract bargain hunters though hurdles to growth remain

Reuters
(Reuters) – 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. FILE PHOTO: A woman passes by a Chase......
Reuters - Business

Financing hunt during pandemic lifts May U.S. convertible debt issuance to record

Reuters
NEW YORK (Reuters) – U.S. issuance of convertible bonds in May hit a record high of $20.7 billion, according to Bank of America data, as companies struggling with the impact of the coronavirus pandemic ventured into the one-time niche market seeking cheaper and easier ways to borrow cash. FILE PHOTO:......
Reuters - Business

Stocks slip as markets await Trump’s Hong Kong response

Reuters
SINGAPORE (Reuters) – Stock markets dipped and safe-havens such as bonds and Japan’s yen firmed on Friday, as investors awaited Washington’s response to China tightening control over the city of Hong Kong. FILE PHOTO: A man wearing protective face mask, following an outbreak of the coronavirus, is reflected on a......
Reuters - Business

U.S.-China tension to push Asian shares lower in choppy trade

Reuters
NEW YORK (Reuters) – Asian shares were set to dip in choppy trade on Friday as worries about worsening U.S.-China ties offset the fillip from hopes massive government stimulus can jump-start the world economy. FILE PHOTO: A man wearing protective face mask, following an outbreak of the coronavirus, is reflected......
Reuters - Business

U.S. economic activity fell sharply due to coronavirus disruptions, Fed says

Reuters
FILE PHOTO: A pedestrian walks on an empty street amid the coronavirus disease (COVID-19) outbreak, in Boston, Massachusetts, U.S., May 12, 2020. REUTERS/Brian Snyder/File Photo (Reuters) – Economic activity declined sharply across the United States over the past several weeks, according to a Federal Reserve report released on Wednesday, reflecting......
Reuters - Business

World shares reach 10-week high, S&P 500 eyeing 3000

Reuters
LONDON/SYDNEY (Reuters) – World shares forged ahead on Tuesday and commodity markets drove higher as well, as investors disregarded Sino-U.S. tensions to focus on more stimulus in China and a re-opening world economy. FILE PHOTO: The London Stock Exchange Group offices are seen in the City of London, Britain, December......
Reuters - Business

Canada’s banks to cement status as solid investments in a crisis

Reuters
(Reuters) – Canadian banks, whose dividends yields climbed during the financial crisis, are again gaining favor with investors, as their pledges to maintain payouts gives them an edge over global counterparts who have shunned them. FILE PHOTO: A man walks in front of buildings in the financial district in Toronto,......
Reuters - Business

Japan lifts Tokyo’s state of emergency, eyes fresh stimulus

Reuters
TOKYO (Reuters) – Japanese Prime Minister Shinzo Abe said on Monday that Japan will lift a state of emergency for Tokyo and four remaining areas later in the day but that it could be reimposed if the pace of infections picked up. Social distancing curbs were loosened for most of......
Reuters - Business

Japan to end Tokyo’s state of emergency, eyes fresh $930 billion stimulus

Reuters
TOKYO (Reuters) – Japan will lift a state of emergency for Tokyo and remaining areas still facing restrictions on Monday, while the Nikkei reported a plan for new stimulus worth almost $1 trillion to help companies ride out the coronavirus pandemic. Social distancing curbs were loosened for most of the......
Reuters - Business

Japan looking to end Tokyo’s state of emergency, eyes fresh $930 billion stimulus

Reuters
TOKYO (Reuters) – Japan is looking to lift a state of emergency for Tokyo and remaining areas still facing restrictions while also considering fresh stimulus worth almost $1 trillion to help companies ride out the coronavirus pandemic, Nikkei reported on Monday. Social distancing curbs were removed for most of the......
Reuters - Business

Tensions over Hong Kong unnerve world stocks, oil tumbles

Reuters
LONDON (Reuters) – World stocks took a hit on Friday as China moved to impose a new security law on Hong Kong after last year’s pro-democracy unrest, further straining fast-deteriorating U.S.-China ties. FILE PHOTO: A man wearing a protective face mask walks past the London Stock Exchange Group building in......
Reuters - Business

Shares lose footing, oil marches on

Reuters
LONDON (Reuters) – Equity markets slipped on Thursday on concerns about the long-term impact of the new coronavirus and simmering U.S.-China tensions, though those worries couldn’t stop oil prices from marching to a 2-1/2 month high. FILE PHOTO – People walk past the London Stock Exchange Group offices in the......
Reuters - Business

Mnuchin defends U.S. fiscal response to pandemic, seeks payroll loan extension

Reuters
WASHINGTON (Reuters) – U.S. Treasury Secretary Steven Mnuchin on Tuesday defended the Trump administration’s fiscal response to the coronavirus pandemic and told senators he was willing to consider extending and modifying a payroll loan program for small businesses. In a sometimes testy hearing before the Senate Banking Committee, Mnuchin and......
Reuters - Business

Fed, Treasury chiefs face heat over uneven U.S. coronavirus response

Reuters
WASHINGTON (Reuters) – Federal Reserve Chair Jerome Powell and Treasury Secretary Steven Mnuchin found themselves in the hot seat on Tuesday as U.S. lawmakers grilled them about the uneven nature of the fiscal response to the fallout from the coronavirus pandemic. Powell and Mnuchin were testifying to the Senate Banking......
Reuters - Business

Powell, Mnuchin to face Senate grilling on U.S. coronavirus response

Reuters
WASHINGTON (Reuters) – The U.S. government’s handling of its massive economic response to the coronavirus pandemic will come under scrutiny on Tuesday as Treasury Secretary Steven Mnuchin and Federal Reserve Chair Jerome Powell testify before the Senate Banking Committee. FILE PHOTO: U.S. Treasury Secretary Steve Mnuchin (R) and Federal Reserve......
Reuters - Business

IMF chief warns full global economic recovery unlikely in 2021

Reuters
WASHINGTON (Reuters) – The global economy will take much longer to recover fully from the shock caused by the new coronavirus than initially expected, the head of the International Monetary Fund said, and she stressed the danger of protectionism. FILE PHOTO: FILE PHOTO: IMF Managing Director Kristalina Georgieva speaks during......
Reuters - Business

Fed says around 600 smaller banks tapped PPP facility in its first days

Reuters
FILE PHOTO: The Federal Reserve building is set against a blue sky, amid the coronavirus disease (COVID-19) outbreak, in Washington, U.S., May 1, 2020. REUTERS/Kevin Lamarque – RC2VFG9GXZIM/File Photo WASHINGTON (Reuters) – Around 600 banks, most of them small community institutions, tapped the Federal Reserve’s Paycheck Protection Program facility for......
Reuters - Business

U.S. stock market swings higher despite rising U.S.-China tensions; oil up

Reuters
NEW YORK (Reuters) – U.S. stocks gyrated on Friday before ending slightly higher, as investors worried about increased China-U.S. trade hostilities and disappointing retail sales figures, while signs of a pick-up in crude demand boosted oil prices. The Trump administration on Friday moved to block global chip supplies to blacklisted......
Reuters - Business

U.S. stock market falls on plunging retail sales; oil up

Reuters
NEW YORK (Reuters) – U.S. stocks sank on Friday after data showed a worse-than-expected drop in retail sales and as investors worried about increased Sino-U.S. trade hostilities, while signs of a pick-up in demand helped boost oil prices. FILE PHOTO: The New York Stock Exchange (NYSE) is seen in the......

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