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July 13, 2020
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Reuters - Business

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

Reuters
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......
Reuters - Business

Wirecard faces loan crunch over missing $2.1 billion

Reuters
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......
Reuters - Business

Exclusive: Who’s in charge at Nissan? COO’s allies push to give him shared CEO role – sources

Reuters
(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......
Reuters - Business

Sharp learning curve for bosses as WFH goes global

Reuters
Two weeks into the coronavirus lockdown and Sergei Holmeckis, a boss at Deutsche Telekom’s Czech operations in the city of Brno, was frustrated with staff video calls. His team didn’t like turning on their cameras and the discussion was stilted. Source – For more click here To Return to the......
Reuters - Business

Stocks drift as second wave virus fears mount

Reuters
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,......
Reuters - Business

Global stocks retreat as investors fret over coronavirus relapse

Reuters
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......
Reuters - Business

Australian regulator says Google’s $2.1 billion Fitbit deal could harm competition

Reuters
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......
Reuters - Business

S&P closes lower as new COVID-19 cases surge

Reuters
NEW YORK (Reuters) – The S&P 500 closed lower on Wednesday as news of spiking pandemic data and the prospect of a new round of economic lockdowns dampened investor optimism over signs of economic recovery. The S&P 500 and the Dow reversed earlier gains to snap a three-day winning streak.......
Reuters - Business

FAA chief acknowledges agency, Boeing made mistakes on 737 MAX

Reuters
(Reuters) – The head of the Federal Aviation Administration, Steve Dickson, acknowledged on Wednesday that Boeing Co (BA.N) and the U.S. air safety agency both made mistakes on the 737 MAX jet, but rejected senators’ accusations the FAA was “stonewalling” probes after two fatal crashes. Federal Aviation Administration (FFA) Administrator......
Reuters - Business

House panel debating $494 billion infrastructure measure

Reuters
FILE PHOTO: An aerial photo shows the University Bridge at left and the Ship Canal Bridge I-5 heading into downtown Seattle in Seattle, Washington, U.S. March 21, 2019. REUTERS/Lindsey Wasson (Reuters) – A U.S. House of Representatives panel is debating on Wednesday a Democratic plan to boost infrastructure spending that......
Reuters - Business

Wall Street advances on prospect of economic rebound

Reuters
NEW YORK (Reuters) – Wall Street gained ground on Wednesday as signs of economic recovery helped investors look past spiking pandemic data and the potential of a new round of economic lockdowns. FILE PHOTO: Traders exit the 11 Wall St. door of the New York Stock Exchange (NYSE) in New......
Reuters - Business

PepsiCo to drop Aunt Jemima name, criticized for racist history; Uncle Ben’s under review

Reuters
(Reuters) – PepsiCo Inc (PEP.O) will change the name and brand image of its Aunt Jemima pancake mix and syrup, it said on Wednesday, dropping a mascot that has been criticized for a racist history. Bottles of Aunt Jemima branded syrup stand on a store shelf inside of a shop......
Reuters - Business

FAA ‘stonewalling’ Boeing 737 MAX probe after fatal crashes: senator

Reuters
(Reuters) – The U.S. Federal Aviation Administration has been “stonewalling” senators conducting an investigation into the design and development of Boeing Co’s (BA.N) 737 MAX in the wake of deadly crashes, a top Republican senator told a hearing on Wednesday. FILE PHOTO: Steve Dickson, Administrator of the Federal Aviation Administration,......
Reuters - Business

Wall Street opens higher on hopes of swift economic recovery

Reuters
FILE PHOTO: Traders exit the 11 Wall St. door of the New York Stock Exchange (NYSE) in New York City, New York, U.S., June 11, 2020. REUTERS/Brendan McDermid (Reuters) – Wall Street’s main indexes opened higher on Wednesday, rising for a fourth straight session, as signs of more stimulus bolstered......
Reuters - Business

Lufthansa warns its $10 billion bailout deal is in jeopardy

Reuters
FRANKFURT (Reuters) – German airline Lufthansa (LHAG.DE) warned on Wednesday that it might need to apply for protection from creditors if its state-backed bailout deal failed to win sufficient support at a shareholder vote on June 25. FILE PHOTO: Lufthansa ticket agents help travelers at the Denver International Airport outside......
Reuters - Business

Stocks grind higher on recovery hopes

Reuters
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,......
Reuters - Business

HSBC revives 35,000 job cut plan after pandemic pause

Reuters
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......
Reuters - Business

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

Reuters
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)......
Reuters - Business

Asia stocks turn cautious on virus surge, geopolitics

Reuters
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......
Reuters - Business

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

Reuters
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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