Sunday, 29 Nov 2020

Business

Cirque du Soleil files for bankruptcy protection as COVID-19 cancels shows

(Reuters) – Canada’s Cirque du Soleil Entertainment Group filed for bankruptcy protection on Monday as the COVID-19 pandemic forced the famed circus operator to cancel shows and lay off its artistes. The Montreal-based entertainment company, which runs six shows in Las Vegas, has struggled to keep its business running amid coronavirus restrictions that started in […]

U.S. home contracts post record jump, factory activity improves in Texas

WASHINGTON (Reuters) – Contracts to buy U.S. previously owned homes rebounded by the most on record in May, suggesting the housing market was starting to turn around after being hammered by the COVID-19 pandemic along with the rest of the economy. Other data on Monday showed an improvement in manufacturing activity in Texas in June […]

Norwegian Air cancels 97 Boeing MAX and Dreamliners, claims compensation

OSLO (Reuters) – Norwegian Air (NWC.OL) has cancelled orders for 97 Boeing (BA.N) aircraft and will claim compensation from the U.S. plane maker for the grounding of the 737 MAX and for 787 engine troubles that hit its bottom line, the Oslo-based carrier said on Monday. The airline cancelled 92 of the 737 MAX jets, […]

Wall Street ends higher on Boeing bump, stimulus eyed

NEW YORK (Reuters) – Wall Street stocks closed higher on Monday and the S&P 500 was poised to clinch its biggest quarterly percentage gain since 1998 as investors hoped for a stimulus-backed economic rebound, while a surge in Boeing shares helped boost the blue-chip Dow. The planemaker’s (BA.N) shares jumped more than 14% after a […]

Coronavirus rekindles global trade disputes

BRUSSELS (Reuters) – At the start of the year, U.S.-China tensions were easing after their Phase I trade deal, while Washington, Brussels and Tokyo agreed on new global trading rules to curb subsidies. A relative calm had set in. Then the new coronavirus struck. Countries across the world imposed 222 exports curbs on medical supplies […]

DBS rolls out sustainable and transition finance framework, taxonomy

SINGAPORE (THE BUSINESS TIMES) – DBS on Monday (June 29) launched a sustainable and transition finance framework and taxonomy, as it partners clients from key industries to transition to a low-carbon economy.  The lender said it is the first Singapore bank to offer transition financing with its latest framework. It will evaluate the transitional qualities of […]

Filipino lawyer says he's been framed over Wirecard's missing billions

MANILA/SINGAPORE (REUTERS) – A Filipino lawyer embroiled in a multi-billion dollar fraud at Wirecard, Mark Tolentino, told Reuters that he was surprised to be linked to the German payments firm and that he was the “victim of a frame-up”. Wirecard went bankrupt earlier this week after disclosing that US$2.1 billion of cash supposed to be […]

Shale pioneer Chesapeake Energy files for bankruptcy

NEW YORK (Reuters) – Chesapeake Energy Corp (CHK.N) filed for Chapter 11 on Sunday, becoming the largest U.S. oil and gas producer to seek bankruptcy protection in recent years as it bowed to heavy debts and the impact of the coronavirus outbreak on energy markets. The Oklahoma City-based shale pioneer, co-founded by late wildcatter Aubrey […]

Mexico's Interjet to gradually reopen more routes from July

MEXICO CITY (Reuters) – Mexico’s Interjet airline will begin restarting national and international routes in July, the company said on Sunday, as airlines across the world pin their hopes on recovering demand as some coronavirus pandemic restrictions on travel ease. The budget airline also said in a statement that despite undergoing a “deep restructuring” it […]