MUMBAI/BENGALURU (Reuters) – India’s Infrastructure Leasing & Financial Services (IL&FS) said on Monday it expected to resolve about 57% of its near trillion rupee ($13.35 billion) debt pile even as the pandemic delayed the resolution process in some of the gr... More »
GDANSK/WARSAW (Reuters) – Poland’s industrial output PLIPY=ECI rose by 0.5% in June, better than the 6.9% decline forecast by analysts, who said the statistic office data suggest the economy may overcome the coronavirus crisis faster than initially expected. T... More »
LONDON (Reuters) – Oil prices fell on Monday as coronavirus cases increased in many countries across the globe, but investors remained cautiously optimistic about ongoing talks over a European Union-wide recovery fund to revive economies affected by the pandem... More »
(Reuters) – European shares fell on Monday, dragged down by cyclical sectors amid a surge in coronavirus cases globally, while investors remained cautiously optimistic about the ongoing talks over an EU-wide recovery fund. An index of eurozone shares .STOXXE s... More »
SYDNEY (Reuters) – Australia faces an avalanche of business failures in its transport and hospitality sectors after government subsidies end in September, insolvency lawyers and economists say, while some argue that so-called ‘zombie’ firms should be allowed t... More »
LONDON (Reuters) – The euro and euro zone bond markets held out hope European Union leaders would strike a deal on a recovery fund for the bloc’s pandemic-ravaged economy on Monday, but the region’s stock markets took a cautious turn lower as talks paused. The... More »
(Reuters) – EBay Inc (EBAY.O) is in advanced talks to sell its classified-ads unit to Norwegian group Adevinta ADEV.OL as the online auction pioneer seeks to refocus on its core marketplace business, the Wall Street Journal reported on Monday. The price of the... More »
PARIS (Reuters) – French carmaker Renault (RENA.PA) on Monday reported a 34.9% drop in worldwide vehicle sales in the first half of the year due to the impact from the new coronavirus outbreak but said it had seen some signs of recovery in June. Sales of its Z... More »
MILAN (Reuters) – Italy’s Intesa Sanpaolo (ISP.MI) on Friday raised its bid for rival UBI Banca (UBI.MI) by 18%, adding a cash sweetener to secure investor backing for its plan to create the euro zone’s seventh-largest banking group. In mid-February, just befo... More »
(Reuters) – Euro zone shares were little changed on Friday as investors awaited the outcome of an European Union summit where leaders are expected to hammer out details of a 750-billion-euro ($858 billion) recovery fund. The euro zone STOXX index .STOXXE was f... More »
BOSTON(Reuters) – Billionaire investor Steven A. Cohen’s Point72 Asset Management is opening the $16.2 billion firm’s latest satellite location in Warsaw and moving some back office operations to lower-cost Poland. Point72, based in Stamford, Connecticut with ... More »
NEW YORK (Reuters) – Major U.S. bank executives this week said they extended forbearance programs to millions of credit card, auto loan and mortgage customers who were financially hard hit by the coronavirus pandemic. While that is good news for customers who ... More »
LONDON (Reuters) – Investors pumped money into riskier bonds and equity funds, BofA’s weekly fund flow statistics showed on Friday, as unprecedented stimulus measures helped offset worries about rising COVID-19 case numbers in the United States. The policy sup... More »
BOSTON (Reuters) – Proxy advisers Institutional Shareholder Services Inc (ISS) and Glass, Lewis & Co on Thursday recommended that Toshiba Corp shareholders elect all company directors, dealing a blow to two activist investors pushing to add five newcomers. ISS... More »
LONDON (Reuters) – A growth spurt in the balance sheets of the world’s biggest central banks has crested in recent weeks, drawing warnings from investors that any signs of backpedaling on stimulus will jolt financial markets and strangle economic recovery. The... More »
FRANKFURT (Reuters) – The European Central Bank will use its stimulus firepower fully even as the euro zone economy shows some signs of rebounding from its pandemic-induced recession, ECB President Christine Lagarde said on Thursday. Tackling the biggest econo... More »
FRANKFURT (Reuters) – The European Central Bank expects a pending European Union stimulus scheme to favour grants over loans in the funding mechanism it uses to help kick-start the bloc’s economies, bank president Christine Lagarde said on Thursday. Leaders of... More »
BOSTON (Reuters) – Leaf Group said in a regulatory filing on Wednesday that one of its board members resigned and another was removed from the audit committee because he is ineligible to serve on it. The move comes just days after an investor group, which owns... More »
BOSTON (Reuters) – Activist investors demanded more change at European and Japanese companies in the first half of 2020 while giving U.S. companies a pass, for now, new data from investment bank Lazard show. While U.S. companies have long been activists’ favor... More »
BRUSSELS (Reuters) – EU antitrust regulators have again halted their investigation into world No. 1 shipbuilding group Hyundai Heavy Industries’ (267250.KS) $1.8 billion merger with Daewoo (042660.KS), a European Commission filing showed. This is the third tim... More »
BRUSSELS (Reuters) – Euro zone industrial production rose in May, official estimates showed on Tuesday, but the recovery from lockdown-induced record declines March and April was lower than expected and far from offsetting past drops. Manufacturing output in t... More »
FRANKFURT (Reuters) – Euro zone banks maintained relatively easy access to credit for firms in the second quarter with the backing of government guarantees, but they will likely tighten credit standards in the following three months, the European Central Bank ... More »
BOSTON (Reuters) – Healthcare services company Mednax’s (MD.N) stock price closed up nearly 4% on Monday after its founder and chief executive and several board members were replaced, half a year after activist investor Starboard Value began pressing for chang... More »
(Reuters) – Pershing Square Tontine Holdings Ltd, the blank check company backed by billionaire investor Bill Ackman, has increased the size of its initial public offering by $1 billion to $4 billion, the largest ever IPO by a special purpose acquisition compa... More »
NEW YORK (Reuters) – World equity benchmarks hit a five-month peak and perceived safe -havens such as the dollar and U.S. government bonds dipped on Monday as investors turned to second-quarter earnings for signs that corporate profits will recover from the ec... More »
TORONTO (Reuters) – The Canadian dollar strengthened against its U.S. counterpart on Monday as stock markets globally climbed and ahead of an interest rate decision this week from the Bank of Canada, with the loonie recovering from a 10-day low on Friday. Worl... More »
LONDON (Reuters) – Oil prices fell on Monday on a record daily rise in global coronavirus cases, with big spikes in infections over the weekend in the United States, while traders await an OPEC meeting expected to recommend an easing of supply cuts. Brent crud... More »
FRANKFURT (Reuters) – The German economy is rebounding from a pandemic-induced slump after hitting bottom last month, a real-time indicator developed by the country’s central bank showed on Monday. Launched in the wake of coronavirus outbreak, the Bundesbank’s... More »
NEW DELHI (Reuters) – India’s retail inflation picked up in June, pushed by price increases for some food and fuel items, but economists said the central bank could still ease rates because of concerns about economic slowdown caused by lockdown. Annual retail ... More »
(Reuters) – AMC Entertainment Holdings Inc said on Monday it had reached an agreement with bondholders to reduce its debt by up to $630 million, as the theater industry suffers from the impact of COVID-19 pandemic. Major theater operators in the United States ... More »
TUNIS (Reuters) – Tunisia has asked four countries to delay debt repayments, it said on Monday as it announced more pessimistic economic and budget forecasts for 2020 because of the coronavirus pandemic. It is negotiating with Saudi Arabia, Qatar, France and I... More »
PARIS (Reuters) – Ubisoft (UBIP.PA) shares dropped 9% on Monday after the French video games group said over the weekend that three senior managers were leaving the company following a review into allegations of inappropriate behaviour. Ubisoft, which makes ga... More »
OTTAWA (Reuters) – Producer prices in Canada gained 0.4% in June from May, primarily on higher prices for energy and petroleum products, Statistics Canada said on Friday in a preliminary flash estimate. Energy and petroleum prices jumped 11.7%, the agency said... More »
WASHINGTON (Reuters) – Democratic House Speaker Nancy Pelosi said on Sunday she believes U.S. lawmakers can find a compromise on extending jobless benefits and unemployment insurance for Americans struggling amid coronavirus pandemic shutdowns. “We have to fin... More »
(Reuters) – Mickey waved from a distance and visitors wore colorful face masks with mouse ears on Saturday as Florida’s Walt Disney World opened to the public for the first time in four months amid a surge of coronavirus cases in the state. Walt Disney Co (DIS... More »
BOSTON (Reuters) – Starting a hedge fund with more capital and scoring top first-year returns point to higher chances of survival in the often risky business, Goldman Sachs Group Inc said in research released on Friday. Goldman, which has helped launch and fin... More »
BOSTON (Reuters) – Cannae Holdings and Senator Investment Group, which are trying to buy property data and analytics company CoreLogic Inc, have hired a proxy solicitor, a source familiar with the matter said on Thursday. A proxy solicitor polls large sharehol... More »
(Reuters) – U.S. equity funds in the week ended on Wednesday drew $609 million, the first inflow in four weeks, according to Lipper. U.S. taxable bond funds attracted $12.6 billion, the 13th straight weekly inflow, while money market funds saw $4.7 billion com... More »
AMSTERDAM (Reuters) – Euro zone bond yields held their ground on Thursday with investors’ main focus expected to be any new developments on the European Union’s recovery fund, which aims to help the region’s economy recover from the coronavirus crisis. Hopes a... More »
TOKYO (Reuters) – U.S. buyout fund Bain Capital said on Thursday it had extended its deadline for a $1 billion buyout offer for Japanese nursing home operator Nichiigakkan Co for a second time. Bain’s bid to buy all of Nichiigakkan’s shares has been extended t... More »
(Reuters) – Several Silicon Valley firms backed by venture capitalists were unsure over whether to apply for a U.S. pandemic aid program, but data analyzed by CB Insights shows a big chunk of companies that raised funds this year also applied for the aid. Some... More »
WASHINGTON (Reuters) – The U.S. Consumer Financial Protection Bureau on Tuesday issued its long-awaited payday lending measure that rescinds an Obama-era proposal requiring lenders first ensure a borrower is able to repay them. Consumer advocates blasted the m... More »
(Reuters) – Property data and analytics company CoreLogic rejected an unsolicited $7 billion takeover offer from two investment firms on Tuesday, saying it expected to earn more this year and would buy back more of its stock. A consortium of Cannae Holdings In... More »
(Reuters) – European shares fell on Tuesday as surging U.S. coronavirus cases and forecasts for a deeper-than-feared recession in the euro zone dimmed optimism around a post-pandemic rebound. The pan-European STOXX 600 index slipped 0.6%, falling back from a n... More »
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 pan... More »
ROME (Reuters) – The Italian government approved a package of measures on Tuesday aimed at cutting the complicated red tape that has long been blamed for crimping growth in the euro zone’s third-largest economy. The “simplification decree,” approved after week... More »
LONDON (Reuters) – PwC, Deloitte, KPMG and EY should ring fence auditing in Britain as a separate business by June 2024, their regulator said on Monday in one of the most sweeping changes to the sector globally to improve audit quality. Corporate failures at b... More »
(Reuters) – Lloyds Banking Group (LLOY.L) Chief Executive António Horta-Osório said on Monday he would step down next year after nearly a decade at the helm of Britain’s biggest domestic bank. While his departure had been expected, it leaves Lloyds with the ta... More »
LONDON (Reuters) – British new car registrations fell by an annual 35% in June, the smallest drop since February, as many dealerships reopened after coronavirus lockdown measures were lifted. A total of 145,377 new cars were registered in June, leaving year-to... More »
LONDON (Reuters) – Global stock markets rallied to four-week highs on Monday as investors counted on a revival in Chinese activity to boost global growth, even as surging coronavirus cases delayed business re-openings across the United States. MSCI’s All-Count... More »
LONDON (Reuters) – British finance minister Rishi Sunak will try to restart the country’s economy by giving homebuyers a tax break and cutting value-added tax for pubs, restaurants and other hospitality firms, The Times newspaper reported. Sunak is due to anno... More »
BERLIN (Reuters) – Orders for German industrial goods rose by 10.4% in May, rebounding from their biggest drop since records began in 1991 the previous month, data showed on Monday, as demand picked up after lockdown measures to fight the coronavirus were lift... More »
LONDON (Reuters) – Aviva (AV.L) CEO Maurice Tulloch is stepping down with immediate effect for family health reasons, the UK insurer said on Monday, naming independent director and former Zurich Insurance executive Amanda Blanc as his replacement. It’s the sec... More »
BEIJING (Reuters) – Ford Motor’s (F.N) China ventures reported year-on-year sales growth for June as the world’s biggest auto market continues to recover from coronavirus-induced lows. The U.S. automaker’s Chongqing-based venture with Changan (000625.SZ) said ... More »
BERLIN (Reuters) – Around one fifth of German companies (21%) believe their survival is threatened by the coronavirus crisis, Germany’s Ifo institute said on Monday, with travel agents, hotels and restaurants particularly concerned. “We could see a wave of ins... More »
(Reuters) – The final days of the best quarter for the benchmark S&P 500 since 1998 were not enough to keep investors from pulling $4.6 billion out of U.S.-based stock funds in the week that ended Wednesday, according to Lipper data released on Thursday. The S... More »
NEW YORK (Reuters) – U.S. equity funds that were able to best weather the global economic upheaval from the coronavirus pandemic this year are turning to healthcare, e-commerce and electric vehicle stocks as they look ahead to 2021. Few expect a quick economic... More »
FRANKFURT (Reuters) – The European Central Bank is lowering the bar for bank mergers in the euro zone, hoping to encourage an elusive wave of consolidation in a sector plagued by low profits and unresolved issues inherited from the last financial crisis. In a ... More »
BOSTON (Reuters) – More hedge funds went out of business during the first three months of 2020 than at any other time since 2015 as the coronavirus led to heavy losses and investors pulled out billions in assets. Hedge Fund Research reported on Tuesday that 30... More »
(Reuters) – Aircraft leasing company BOC Aviation (2588.HK) said on Tuesday it had cancelled an order for 30 Boeing (BA.N) 737 MAX planes although its chief executive remained confident in the jet which has been grounded for more than a year. The lessor, which... More »
(Reuters) – The S&P 500 and Dow Jones indexes opened lower on Tuesday as coronavirus-related worries and simmering U.S.-China tensions weighed on sentiment at the end of what is expected to be the S&P 500’s best quarter since 1998. The Dow Jones Industrial Ave... More »
OTTAWA (Reuters) – Canada’s real GDP is likely to grow 3% in May, bouncing back from a record decline in April, Statistics Canada said in a flash estimate on Friday, as businesses across the country began to reopen following coronavirus-linked shutdowns. Growt... More »
(Reuters) – A stock rebound marked by Wall Street’s strongest quarter in more than two decades has slowed in recent weeks, as a resurgence in coronavirus cases threatens to derail the economy’s recovery from a deep downturn. With the S&P 500 up 18% in the quar... More »
ATHENS (Reuters) – Greece’s National Bank (NBG) has hired Morgan Stanley as an adviser ahead of a planned sale of more than 6.0 billion euros ($6.73 billion) of non-performing credit, part of its balance sheet clean-up efforts, bankers close to the transaction... More »
DUBAI (Reuters) – Saudi Arabia’s central bank governor said it was encouraging commercial banks to lend more to sustain businesses during the coronavirus crisis. Saudi Arabian Monetary Authority (SAMA) Governor Ahmed al-Kholifey was speaking at a virtual econo... More »
HONG KONG (Reuters) – Hong Kong’s retail sales in May slumped 32.8% from a year earlier, falling for the 16th consecutive month as the virus pandemic slammed the brakes on tourism and spending in the city. Months of anti-government protest have also weighed on... More »
(Reuters) – The Federal Reserve’s promise in the early days of the coronavirus pandemic to flood the U.S. economy with trillions of dollars seemed like the proverbial central bank bazooka. It has been more of a trickle in practice, with activity outside the U.... More »
NEW YORK/LONDON (Reuters) – Funds that rode the market’s rally to generate the highest second-quarter returns included those invested in assets such as mining stocks, energy and technology. Global financial markets staged an impressive rebound in the second qu... More »
TOULOUSE, France (Reuters) – French company Sogeclair Aerospace (SCLR.PA) said on Tuesday that it was eyeing up to 245 job cuts in France, as the country’s aerospace sector reels from the hits to business caused by the coronavirus crisis. A spokesman said the ... More »
LONDON (Reuters) – British low-cost airline easyJet (EZJ.L) said in a regulatory filing on Tuesday that the Haji-Ioannou family now hold under 30% of the company. Stelios Haji-Ioannou founded easyJet, and along with family members remains its biggest sharehold... More »
PARIS (Reuters) – Air France (AIRF.PA) wants to cut more than 7,500 job positions between now and 2022, reported BFM TV and Agence France Presse on Wednesday, citing trade union sources. Air France is preparing voluntary layoffs in response to the coronavirus ... More »
LONDON (Reuters) – Oil prices slipped on Tuesday amid rising COVID-19 cases and a possible return of Libyan oil production, which has been down to a trickle since the start of the year. The more-active September contract for Brent LCOc2 fell 37 cents, or 0.88%... More »
LONDON (Reuters) – A fresh batch of grim economic data kept the euro and the pound under pressure on Tuesday as sentiment faltered amid fears new COVID-19 hot spots across the world might jeopardise the swift recovery from the pandemic investors are hoping for... More »
LONDON (Reuters) – European shares picked up on Tuesday after a weak start, extending the optimism of the Asian session, and oil prices steadied as investors looked for signs of an economic recovery in the second half of 2020. The MSCI world equity index, whic... More »
LONDON (Reuters) – Cineworld (CINE.L) on Tuesday delayed the reopening of its cinemas in the United States and Britain until the end of July, citing changes to the release schedules for some of the big summer movies. The UK-based company had previously expecte... More »
LOS ANGELES (Reuters) – Los Angeles Mayor Eric Garcetti on Monday announced he was taking a “hard pause” on when movie theaters in the city can reopen, citing an increase in coronavirus cases. Los Angeles County is the biggest movie theater market in the Unite... More »
BRUSSELS/MADRID (Reuters) – Finance ministers of Spain, Ireland and Luxembourg are in the running to chair meetings of the powerful Eurogroup of euro zone finance ministers, with euro zone officials saying it is likely to be a close race between the Spanish an... More »
LONDON (Reuters) – Famed for snapping up glitzy real estate and stakes in troubled international banks during the global financial crisis, sovereign wealth funds are investing more at home, a trend set to accelerate in the wake of the economic carnage wrought ... More »
FRANKFURT (Reuters) – A string of positive economic indicators in the euro zone confirm that a recovery is on its way but the bloc may still need years to reach pre-crisis levels of activity, European Central Bank policymaker Klaas Knot said on Thursday. “I wo... More »
NEW YORK (Reuters) – Tina Smets had long thought about getting a college degree, but that seemed impossible. As a mom of three kids, waitressing nights at a local restaurant in Kearney, Nebraska, the 31-year-old did not want to saddle her young family with ton... More »
LONDON (Reuters) – BlackRock’s Investment Institute said on Tuesday it was “warming up” to European assets following what it called the eurozone’s “impressive” efforts to tackle the coronavirus. The research arm of the world’s biggest fund manager said two fac... More »
LONDON (Reuters) – Nikhil Rathi, head of the London Stock Exchange’s UK division, has been appointed chief executive of the Financial Conduct Authority (FCA), Britain’s finance ministry said on Monday. Rathi, a former finance ministry official, will play a key... More »
BERLIN (Reuters) – Changes to the composition of Germany’s top court are likely to make it less confrontational towards the European Central Bank following a ruling about bond purchases that sent shockwaves around Europe, according to two sources close to the ... More »
WARSAW (Reuters) – Poland’s Prime Minister Mateusz Morawiecki said on Monday he expects the country’s economy to recover quickly from the damage caused by the coronavirus pandemic. “We have a chance for a V-shaped recovery,” Morawiecki told a conference. Poles... More »
(Reuters) – U.S. stock index futures rose on Monday on hopes of stimulus-fueled economic recovery even though sentiment remained fragile amid growing evidence of a surge in the coronavirus infections. Trillions of dollars in monetary and fiscal support, the re... More »
LONDON (Reuters) – World stocks reversed earlier losses and the dollar slid on Monday as investors shrugged off worries that rising coronavirus infections in parts of Europe and the United States over the weekend could scupper a quick economic rebound. Torn be... More »
PARIS (Reuters) – Emmanuel Macron will travel to the Netherlands on Tuesday to try to break Dutch Prime Minister Mark Rutte’s resistance to the European Union’s 750 billion euro aid package that the French president wants to see approved at an EU summit in Jul... More »
TOKYO (Reuters) – Japan’s Economy Minister Yasutoshi Nishimura on Monday discussed the importance of free trade for a world economic recovery with New Zealand’s Minister for Trade and Export Growth David Parker, Nishimura said. Parker and Nishimura also talked... More »
LONDON (Reuters) – British industrial output recorded its biggest quarterly fall on record during the three months to June as COVID-19 heavily disrupted operations, and a further decline is likely in the months to come, a survey showed on Monday. The Confedera... More »
LONDON (Reuters) – Oil prices were steady on Monday, supported by tighter supplies from major producers but held in check by concerns over a record rise in global coronavirus infections that could stall a recovery in fuel demand. Brent crude LCOc1 rose 5 cents... More »
(Reuters) – No denying May’s $73 billion rebound in U.S. retail sales was an eye-popper and is the latest fodder to fuel the red-hot “V” vs “U” debate about what kind of recovery to expect from the COVID-19 recession. Even Federal Reserve Chair Jerome Powell, ... More »
(Reuters) – U.S. stocks dropped on Monday after a spike in new coronavirus cases in China and parts of the United States dampened hopes of a swift economic recovery that had driven a sharp rise in Wall Street’s main indexes over the past month. Battered shares... More »
LONDON (Reuters) – Long queues of shoppers snaked around stores in England on Monday, with discount fashion retailer Primark proving a particular draw as shops reopened their doors after 83 days of lockdown. Queues formed from early morning outside several bra... More »
NEW YORK (Reuters) – The Federal Reserve said on Monday it had opened registration for lenders interested in participating in its Main Street Lending Program, launching arguably the most complex program undertaken yet by the U.S. central bank to help keep the ... More »
(Reuters) – The Federal Reserve on Monday launched its latest life raft for U.S. businesses hurt by the coronavirus pandemic. Administered by the Boston Fed, the Main Street Lending Program will offer up to $600 billion in loans through participating lenders t... More »
WASHINGTON (Reuters) – The U.S. Federal Reserve announced Monday it was resuming its normal bank examination activities, after easing back at the outset of the coronavirus pandemic. The Fed announced in March it was reducing some exam activities and focusing o... More »
NEW YORK (Reuters) – The U.S. dollar was slightly lower in North American morning trade on Monday, stabilizing after a move higher overnight on a sell-off in risk assets over rising fears of a second wave of coronavirus infections. The dollar index =USD, which... More »
WASHINGTON (Reuters) – U.S. Treasury Secretary Steven Mnuchin said on Monday he would talk to Congress about proper oversight of $660 billion in small business economic relief, after previously resisting calls to reveal who received the funds. Mnuchin tweeted ... More »
SAO PAULO (Reuters) – Planemaker Embraer SA (EMBR3.SA) said on Monday that the head of its commercial aviation unit, John Slattery, was leaving the company to become chief executive of aircraft engine-maker GE Aviation (GE.N), weeks after a $4.2 billion deal w... More »
NEW YORK (Reuters) – Oil prices fell on Monday as new coronavirus infections hit the United States and China, feeding worries that renewed lockdowns could hamper economic recovery and dent fuel demand. U.S. West Texas Intermediate crude fell 35 cents, or 1%, t... More »
