Friday, 25 Sep 2020

Business

Risk currencies breathe after rally, virus resurgence buoys dollar

LONDON (Reuters) – Risk currencies such as the Australian dollar took a breather from recent gains on Tuesday, with investors hitting pause on an China-led equity market rally, as new coronavirus flare-ups and local lockdowns in some countries lifted the safe-haven dollar. Riskier currencies such as the commodity-driven Aussie, Norwegian crown, the New Zealand dollar […]

U.S. says Alaska, Delta, JetBlue, United, Southwest seek COVID aid

WASHINGTON (Reuters) – Five additional U.S. airlines – Alaska Airlines, Delta Air Lines, JetBlue Airways, United Airlines and Southwest Airlines – have taken steps to seek federal loans amid the novel coronavirus outbreak, the U.S. Department of Treasury said on Tuesday. The airlines had signed letters of intent, Treasury Secretary Steven Mnuchin said in a […]

EU sees deeper recession, less steep rebound for euro zone

BRUSSELS (Reuters) – The euro zone economy will drop deeper into recession this year and rebound less steeply in 2021 than previously thought, the European Commission forecast on Tuesday, with France, Italy and Spain struggling the most due to the COVID-19 pandemic. The downbeat assessment of Europe’s economy comes amid concern the U.S. recovery may […]

Europe stalls after China's bull charge rumbles on

LONDON (Reuters) – A five-day charge by world stocks fizzled on Tuesday as caution about renewed coronavirus lockdowns took hold again, though it was not enough to completely douse China’s July hot streak. London, Paris and Frankfurt were down around 1% in early trading as the bumpier conditions shifted investors back to the dollar and […]

Euro zone set for deeper recession, less steep rebound: Commission

BRUSSELS (Reuters) – The euro zone economy will drop deeper into recession this year and rebound less steeply in 2021 than previously thought, the European Commission forecast on Tuesday, with France, Italy and Spain struggling the most due to the COVID-19 pandemic. The downbeat assessment of Europe’s economy comes amid concern the U.S. recovery may […]

Currency crisis impoverishes Iranians, strains economic defenses

DUBAI (Reuters) – Desperate to afford her daughter’s overseas university fees, 58-year-old retired Iranian teacher Maryam Hosseini withdrew all her savings from the bank to buy U.S. dollars. It was not enough. With three years of study still to do, her daughter is heading back home, her future now on hold. Hosseini’s tale of growing […]

Nissan secures $7.8 billion from creditors since April: filing

TOKYO (Reuters) – Nissan Motor Co (7201.T) has raised $7.8 billion in financing from its creditors since April as it tries to shore up its cash position in the face of falling sales due to the coronavirus pandemic, its latest annual securities report shows. In a filing to Japanese financial authorities on Monday, the automaker […]

Asian stocks set to follow U.S. higher on China hopes, upbeat data

NEW YORK (Reuters) – Asian markets looked set to rise on Tuesday as investors weighed growing expectations of an economic rebound in China and a resurgent U.S. services industry, brushing off worries about a spike in U.S. coronavirus cases. Australian S&P/ASX 200 futures climbed 0.52%, while Japan’s Nikkei 225 futures rose 0.07%, and Hong Kong’s […]

Small-government advocates, lobbyists tap $660 billion U.S. pandemic-aid fund

WASHINGTON (Reuters) – As Congress signed off on trillions of dollars in coronavirus aid, the small-government group Citizens Against Government Waste urged lawmakers to oppose bailouts for U.S. states, broadcasters, unemployed people and other recipients. The group also secured at least $150,000 in government funds for itself, records released on Monday show. The nonprofit was […]

Dakota pipeline investors could face major hit after adverse ruling

BOSTON/DENVER (Reuters) – Large investors in the Dakota Access Pipeline, including Phillips 66 (PSX.N), could be on the hook for hundreds of millions in payments, after a U.S. court on Monday ordered the shutdown of the major artery. The U.S. District Court for the District of Columbia ordered Energy Transfer LP (ET.N) to shut and […]