New York (Reuters) – U.S. stocks jumped on Tuesday, propelling the S&P 500 past the key psychological level of 3,000 points as optimism about developing coronavirus vaccines and the revival of business activity helped investors overlook simmering China-U.S. tensions. The benchmark S&P 500 crossed 3,000 for the first time since March 5,…
Tag: News
French carmaker Renault to cut 5,000 jobs by 2024: Le Figaro
A logo of Renault carmaker is pictured at a dealership in Nantes, France, May 26, 2020. REUTERS/Stephane Mahe PARIS (Reuters) – French carmaker Renault (RENA.PA) is about to announce plans to cut 5,000 jobs by 2024 in its drive to save 2 billion euros ($2.20 billion) in costs, according to a report…
Armed with whistleblower tips, U.S. SEC cracks down on coronavirus misconduct
WASHINGTON (Reuters) – The novel coronavirus outbreak and economic fallout is proving to be a bonanza for whistleblower lawyers as the U.S. securities regulator cracks down on a range of related misconduct from companies touting sham cures to misuse of federal aid. FILE PHOTO: The U.S. Securities and Exchange Commission logo adorns…
‘Rally of hope’: Why the S&P soared back past 3,000
NEW YORK (Reuters) – Unthinkable just two months ago as the world economy shut down in response to the coronavirus pandemic, the U.S. stock benchmark S&P 500 index broke through the psychologically-important 3,000 level on Tuesday, capping a 37% stock rally since its March low. Flags hang on the outside of the…
Blackstone risks paying damages in dispute with Italy’s RCS
FILE PHOTO: The ticker and trading information for Blackstone Group is displayed at the post where it is traded on the floor of the New York Stock Exchange (NYSE) April 4, 2016. REUTERS/Brendan McDermid MILAN (Reuters) – Milan’s Arbitral Tribunal has judged that the contracts over the sale of Italy’s RCS (RCSM.MI)…
Stocks rally, S&P 500 crosses 3,000 barrier; oil gains
NEW YORK/LONDON (Reuters) – Global equity and crude oil markets rose on Tuesday as investors focused on China’s promise of more stimulus and prospects of a world economic recovery, allowing them to push aside concerns that U.S.-China rhetoric could threaten a trade deal between the world’s two largest economies. Traders wearing masks…
NYSE trading floor partially reopens after coronavirus closure
NEW YORK (Reuters) – New York Governor Andrew Cuomo donned a face mask and rang the opening bell at the New York Stock Exchange on Tuesday, marking the partial reopening of the trading floor at the iconic 11 Wall Street building, which had been closed since March 23 due to the coronavirus.…
U.S. business borrowing for equipment falls about 7% in April: ELFA
Traders wearing masks work, on the first day of in person trading since the closure during the outbreak of the coronavirus disease (COVID-19) on the floor at the New York Stock Exchange (NYSE) in New York, U.S., May 26, 2020. REUTERS/Brendan McDermid (Reuters) – U.S. companies’ borrowings for capital investments fell about…
NYSE to reopen trading floor closed by coronavirus
NEW YORK (Reuters) – The New York Stock Exchange will partially reopen the trading floors at its iconic 11 Wall Street building on Tuesday for the first time since March 20 when the bourse was forced to go all-electronic due to the coronavirus pandemic. The Intercontinental Exchange Inc’s (ICE.N) NYSE floor will…
Oil prices climb, bolstered by ongoing supply curbs
FILE PHOTO: The sun sets behind an oil pump outside Saint-Fiacre, near Paris, France September 17, 2019. REUTERS/Christian Hartmann NEW YORK (Reuters) – Oil prices rose on Tuesday, supported by signs that producers are following through on commitments to cut supplies and as fuel demand picks up with coronavirus restrictions easing. Brent…
Toyota prepping for gradual re-start in Mexico: spokesman
A logo of Toyota is pictured at Bangkok Auto Salon 2019 in Bangkok, Thailand, July 4, 2019. REUTERS/Athit Perawongmetha MEXICO CITY (Reuters) – Toyota Motor Corp’s Mexico unit is in a preparation phase for the gradual re-start of its operations in the states of Baja California and Guanajuato, a spokesman told Reuters…
French billionaires raise stakes in defence of publisher Lagardere
PARIS (Reuters) – France’s business elite closed ranks around publishing group Lagardere (LAGA.PA) on Monday with LVMH’s Bernard Arnault and Vivendi’s (VIV.PA) Vincent Bollore swooping in to bolster its defences against London-based hedge fund Amber Capital. FILE PHOTO: Bernard Arnault, Chief Executive Officer of LVMH Moet Hennessy Louis Vuitton SE, attends the…
Lufthansa has good prospects for future: German ministries
BERLIN (Reuters) – The German Finance and Economy Ministries on Monday said Lufthansa (LHAG.DE) was an operationally healthy company before the coronavirus outbreak, as well as profitable and with good future prospects, but had got into trouble due to the pandemic. “The federal government’s stabilisation package takes account of the needs of…
Canada’s banks to cement status as solid investments in a crisis
(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, January 28,…
Lufthansa says Germany approves stabilization package
FILE PHOTO: A Lufthansa Airbus A320-200 plane is seen on the tarmac at the Lyon-Saint-Exupery airport in Colombier-Saugnieu near Lyon, France, March 14, 2019. REUTERS/Emmanuel Foudrot/File Photo FRANKFURT (Reuters) – Germany’s new Economic Stabilization Fund (WSF) has approved a 9 billion euro ($9.80 billion) stabilization package for Lufthansa (LHAG.DE), Germany’s flagship carrier…
Germany stamps authority on Lufthansa with $9.8 billion lifeline
FRANKFURT/BERLIN (Reuters) – Germany threw Lufthansa (LHAG.DE) a 9 billion euro ($9.8 billion) lifeline on Monday, agreeing a bailout which gives Berlin a veto in the event of a hostile bid for the airline. FILE PHOTO: Aircraft of the German carrier Lufthansa are parked on the tarmac, as the spread of the…
German sentiment survey boosts stocks, Europe focuses on recovery fund
LONDON (Reuters) – Stocks gained modestly on Monday with many countries on holiday as German business morale rebounded strongly in May, offering a glimpse of optimism to battered investors of what lay beyond weeks of economic lockdowns. The German share price index DAX graph is pictured at the stock exchange in Frankfurt,…