We thought too big, Renault says as it axes 15,000 jobs in cost-cutting reboot

We thought too big, Renault says as it axes 15,000 jobs in cost-cutting reboot

We thought too big, Renault says as it axes 15,000 jobs in cost-cutting reboot

PARIS (Reuters) - Renault acknowledged that its global ambitions had been unrealistic, announcing plans to cut about 15,000 jobs, shrink production and restructure French plants as it pressed the reset button and sought to banish the spectre of Carlos Ghosn.

We thought too big, Renault says as it axes 15,000 jobs in cost-cutting reboot

PARIS (Reuters) - Renault acknowledged that its global ambitions had been unrealistic, announcing plans to cut about 15,000 jobs, shrink production and restructure French plants as it pressed the reset button and sought to banish the spectre of Carlos Ghosn.

‘We thought too big,’ Renault says as it axes 15,000 jobs in cost-cutting reboot

Faced with a slump in demand that has been exacerbated by the coronavirus pandemic, Renault detailed plans on Friday to find 2 billion euros in savings over the next three years.

Renault announces nearly 15,000 job losses worldwide

Renault has announced nearly 15,000 job losses worldwide, including 4,600 in France in a €2 billion cost-cutting plan over three years.

French carmaker Renault to take extreme measures on costs, cuts 14,000 jobs

Top official admits that manufacturer had been spending way too much, plans 10% job cuts

We thought too big, Renault says as it axes 15,000 jobs in cost-cutting reboot

PARIS, May 29 — Renault acknowledged that its global ambitions had been unrealistic, announcing plans to cut about 15,000 jobs, shrink production and restructure French plants as it pressed the reset button and sought to banish the spectre of Carlos Ghosn. Faced with a slump in demand that has...

Renault seeks to restructure French factories to slash costs

PARIS: Renault said on Friday it was launching talks with unions to restructure several French car plants, potentially leading to closures, as it confirmed plans to cut around 15,000 jobs worldwide. Faced with a slump in demand exacerbated by the coronavirus crisis, Renault is aiming to find €2 billion ($2.22 billion) in savings over the next three years as it hones in on key

Renault to restructure French factories in bid to slash costs

French carmaker Renault said on Friday it was launching talks with unions to reorganise and cease assembling vehicles at several plants in France ...

Faltering Renault to cut 15,000 jobs worldwide, including 4,600 in France

French carmaker Renault said on Friday it was launching talks with unions to restructure some plants and potentially close others as it confirmed plans to cut around 15,000 jobs worldwide to ride out…

We thought too big, Renault says as it axes 15,000 jobs in cost-cutting reboot

Renault acknowledged that its global ambitions had been unrealistic, announcing plans to cut about 15,000 jobs, shrink production and restructure French plants as it pressed the reset button and sought to banish the spectre of Carlos Ghosn. Faced with a slump in demand that has been exacerbated by the coronavirus pandemic, Renault detailed plans on Friday to find 2 billion euros ($2.22 billion) in savings over the next three years. "We thought too big in terms of sales," said interim Chief Exe

Renault to restructure French factories in high-stakes reboot plan

French carmaker Renault said on Friday it was launching talks with unions to reorganise and cease assembling vehicles at several plants in France ...

Renault to restructure factories, confirms 15,000 job cuts

News News: PARIS: Carmaker Renault said on Friday it was launching talks with unions to restructure some French plants and potentially close others as it confirm.

Renault poised to announce 15,000 lay offs worldwide

Some 4,500 jobs would go in France, though largely through a voluntary departure plan and a retirement scheme, the CFDT's Franck Daout told Reuters on Thursday.

Renault poised to announce 15,000 layoffs worldwide: union

French carmaker Renault is poised to announce 15,000 layoffs worldwide on Friday as it unveils a plan to boost its profitability and cope with ...

Coronavirus crisis: Renault to lay off 150,000 employees globally

The overall cuts would affect just under 10% of Renault's 180,000 global workforce. The firm has around 48,500 staff in France

Renault poised to announce 15,000 layoffs worldwide

The overall cuts would affect just under 10% of Renault's 180,000 global workforce. The firm has around 48,500 staff in France.

Stripped of billionaire status

Forbes magazine, which once declared Kylie Jenner a billionaire on its cover, says she no longer deserves the title, but Jenner is pushing back.

Forbes Announces Kylie Jenner Is No Longer A Billionaire

Kylie Jenner has lost her billionaire status after being accused by Forbes of inflating the size of her business and success.

Kylie Jenner, Forbes spar over story on billionaire status

Forbes magazine, which once declared Kylie Jenner a billionaire on its cover, says she no longer deserves the title, but Jenner is pushing back.

Forbes revoke Kylie Jenner's billionaire status, slamming her "web of lies"

Forbes has revoked Kylie Jenner's billionaire status following an article published claiming the 22-year-old largely exaggerated her earnings

Kylie Jenner is not a billionaire, Forbes magazine now says

(Reuters) - Forbes magazine, which in March 2019 declared reality TV star Kylie Jenner had become the world’s youngest self-made billionaire, said on Friday that it no longer believed that her net worth was that much.

Kylie Jenner is not a billionaire, says Forbes magazine now

LOS ANGELES, May 30 — Forbes magazine, which in March 2019 declared reality TV star Kylie Jenner had become the world’s youngest self-made billionaire, said yesterday that it no longer believed that her net worth was that much. The magazine said it reviewed financial data released by Coty Inc,...

Forbes removes Kylie Jenner from billionaires list

Olushola Odeyinde Kylie Jenner has been removed from the list of billionaires by Forbes on Friday. The Reality Tv star, Make-up business mogul, and influencer has been accused by Forbes of in...

Forbes drops Kylie Jenner from billionaires list

Kylie Jenner isn't a billionaire after all, Forbes as it accused the reality TV star's family of "inflating the value of her cosmetics".

Inside Kylie Jenner’s Web Of Lies—And Why She’s No Longer A Billionaire

Earlier this year, Kylie Jenner sold half of her cosmetics company in one of the greatest celebrity cash-outs of all time. But the deal’s fine print reveals that she has been inflating the size and success of her business. For years.

Kylie Jenner Is Not A Billionaire & Lied To Inflate Her Net Worth, Claims Forbes

Forbes Magazine has stripped Kylie Jenner of her title of “youngest self-made billionaire” after the outlet claims the Kylie Cosmetics founder

Go read this Forbes investigation alleging Kylie Jenner isn’t actually a billionaire

Kylie Jenner was perhaps not the youngest self-made billionaire ever, Forbes suggests

French carmaker Renault announces 15,000 job cuts worldwide

Struggling French carmaker Renault on Friday announced 15,000 job cuts worldwide as part of a 2 billion-euro cost-cutting plan over three years. Renault said on Friday that nearly 4,600 jobs will be cut in France in addition to more than 10,000 in the rest of the world. The group's global

French carmaker Renault announces 15,000 job cuts worldwide

Struggling French carmaker Renault on Friday announced 15,000 job cuts worldwide as part of a 2 billion-euro cost-cutting plan over three years. Renault said on Friday that nearly 4,600 jobs will be cut in France in addition to more than 10,000 in the rest of the world. The group's global…

French carmaker Renault announces 15,000 job cuts worldwide

The group's global production capacity will be revised from 4 million vehicles in 2019 to 3.3 million by 2024, the company said. "The difficulties encountered by the group, the major crisis facing the automotive industry and the urgency of the ecological transition are all imperatives that are driving the company to accelerate its transformation," it said in a statement.

French carmaker Renault announces 15,000 job cuts worldwide

PARIS — Struggling French carmaker Renault on Friday announced 15,000 job cuts worldwide as part of a 2 billion-euro cost-cutting plan over three years.

French carmaker Renault announces 15,000 job cuts worldwide

Renault, the French carmaker announces its cost-cutting plan of over three years. Renault will have 15,000 job cuts worldwide

Renault to cut 15,000 jobs

French carmaker Renault said Friday it will cut 15,000 jobs worldwide as part of a 2 billion-euro ($2.2 billion) cost-cutting plan, as a brutal drop in industry sales during the pandemic worsened the company's pre-existing problems.

Renault announces 15,000 job cuts worldwide

The move is part of a two billion euro cost-cutting plan over three years.

French carmaker Renault to cut 15,000 jobs worldwide

French carmaker Renault said Friday it will cut 15,000 jobs worldwide as part of a 2 billion-euro ($2.2 billion) cost-cutting plan, as a brutal drop in industry sales during the pandemic worsened the

French carmaker Renault to cut 15,000 jobs worldwide

French carmaker Renault said Friday it will cut 15,000 jobs worldwide as part of a 2 billion-euro ($2.2 billion) cost-cutting plan, as a brutal drop in industry sales during the pandemic worsened the company's pre-existing problems.

Williams set to sell Formula One team

Williams is considering a sale of its once-dominant but now struggling Formula One team as part of a new strategic direction.

Williams considers selling F1 team after £13m loss

Williams revealed that they are considering selling the Formula One team after a multi-million pound drop in the company's financial results.

Williams considers selling F1 team after £13 million loss

Williams revealed on Friday that they are considering selling the Formula One team after a multi-million pound drop in the company's financial ...

Formula One: Williams considering selling team after suffering over $15 million in losses

After posting a £12.9 million profit in 2018, Williams have responded to the blow by seeking new investment.

Williams set to sell Formula One team

Williams is considering a sale of its once-dominant but now struggling Formula One team as part of a new strategic direction.

Williams set to sell Formula One team following financial losses

Williams are considering selling their Formula 1 team due to growing financial pressures.This mo...

Williams considers sale of struggling F1 team

Williams is considering a sale of its once-dominant but now struggling Formula One team as part of a new strategic direction, Williams Grand Prix Holdings (WGPH) said on Friday.

Williams considers sale of struggling F1 team

Williams is considering a sale of its once-dominant but now struggling Formula One team as part of a new strategic direction, Williams Grand Prix ...

Williams reveals it is for sale

Backmarker Formula 1 team Williams has admitted it may be sold.

Coronavirus depresses U.S. consumer spending in April

U.S. consumer spending suffered another month of record decline in April as the COVID-19 pandemic undercut demand, buttressing expectations that the economy could contract in the second quarter at its steepest pace since the Great Depression. The Commerce Department said on Friday consumer spending,

Coronavirus sinks U.S. consumer spending; savings hit record high

By Lucia Mutikani WASHINGTON (Reuters) - U.S.

Coronavirus sinks US consumer spending; savings hit record high

U.S. consumers cut spending by the most on record for the second straight month in April while boosting savings to an all-time high, and the ...

Coronavirus sinks U.S. consumer spending; savings hit record high

WASHINGTON (Reuters) - U.S. consumers cut spending by the most on record for the second straight month in April while boosting savings to an all-time high, and the growing frugality reinforced expectations the economy could take years to recover from the COVID-19 pandemic.

Coronavirus depresses U.S. consumer spending in April

WASHINGTON (Reuters) - U.S. consumer spending suffered another month of record decline in April as the COVID-19 pandemic undercut demand, buttressing expectations that the economy could contract in the second quarter at its steepest pace since the Great Depression.

Coronavirus depresses US consumer spending in April

WASHINGTON, May 29 — US consumer spending suffered another month of record decline in April as the Covid-19 pandemic undercut demand, buttressing expectations that the economy could contract in the second quarter at its steepest pace since the Great Depression. The Commerce Department said today...

Volkswagen invests €2b in Chinese electric vehicle sector

BEIJING, May 29 ― Volkswagen said today it will invest around €2 billion (RM9.65 billion) in two Chinese companies in the electric vehicle sector, calling it “the world's biggest market”. The German car giant said it will take a 50 per cent stake in JAG ― the parent company of state-owned...

Volkswagen invests US$2.2b in Chinese electric vehicle sector

Volkswagen said on Friday it will invest around 2 billion euros ($2.2 billion) in two Chinese companies in the electric vehicle sector, calling it ...

Volkswagen invests €2bn in Chinese electric vehicle sector

BEIJING: Volkswagen will invest around €2 billion ($2.2 billion) in two Chinese companies in the electric vehicle sector, calling it “the world’s biggest market.” The German car giant said it will take a 50 percent stake in JAG — the parent company of state-owned JAC Motors — and increase its holding in the JAC Volkswagen joint venture from 50 percent to 75 percent for around

Volkswagen invests 2 billion euros in Chinese electric vehicle sector

Volkswagen said on Friday it will invest around 2 billion euros ($2.2 billion) in two Chinese companies in the electric vehicle sector, calling it "the world's biggest market".

Volkswagen invests 2 billion euros in Chinese electric vehicle sector

Volkswagen will take a 50% stake in JAG – the parent company of state-owned JAC Motors – and a 26% share of Chinese battery supplier Gotion High-Tech

Volkswagen Ploughs Over $2 Billion Into the Chinese Electric Car Industry

On Friday, Volkswagen announced it would be investing $2.2 billion in two companies in the Chinese electric vehicle sector in a bid to push forward the "world's biggest market" towards the electrification of cars.

Global stocks slip as markets await Trump's HK response

SINGAPORE, May 29 ― Asia's stock markets pulled back and major currencies were held in check today, as investors await the US response to China tightening control over the city of Hong Kong. China's parliament yesterday pressed ahead with national security legislation for the city, raising fears...

Stocks slip as markets await Trump’s Hong Kong response

Sino-US tensions outweigh optimism over re-opening.

Stocks slip as markets await Trump’s HK response

MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.3%. The Nikkei retreated from a three-month high and, though moves were slight, riskier currencies were under pressure against the US dollar.

Stocks slip as investors await Trump's Hong Kong response

LONDON — Global stock markets fell and safe havens such as bonds and the Japanese yen gained on Friday, as investors awaited Washington’s response to China tightening control over the city of Hong Kong.

Take 2 for SpaceX's 1st astronaut launch with more storms

CAPE CANAVERAL, Fla. — SpaceX pressed ahead with its second attempt to launch astronauts for NASA — a historic first for a private company — but more stormy weather threatened more delays.

Storms threaten more delays as SpaceX prepares for new space attempt

Saturday’s rescheduled departure would be the first time astronauts have been launched from Cape Canaveral since 2011.

Storms threaten more delays as SpaceX prepares for new space attempt

Saturday’s rescheduled departure would be the first time astronauts have been launched from Cape Canaveral since 2011.

Storms threaten more delays as SpaceX prepares for new space attempt

Saturday’s rescheduled departure would be the first time astronauts have been launched from Cape Canaveral since 2011.

Take 2 for SpaceX's 1st astronaut launch with more storms

SpaceX pressed ahead with its second attempt to launch astronauts for NASA—a historic first for a private company—but more stormy weather threatened more delays.

Take 2 for SpaceX's first astronaut launch with more storms

SpaceX pressed ahead with its second attempt to launch astronauts for NASA -- a historic first for a private company -- but more stormy weather threatened more delays.

Elon Musk earns £625 million payday after Tesla hits targets

Tesla chief executive Elon Musk has seen his wealth boosted by £625 million after his company hit a number of performance targets.The electric car maker passed the milestones of a total market value of 100 billion dollars (£81 billion) and making 20 billion (£16 billion) in revenue for four quarters triggering the compensation package.A filing with the US Securities and Exchange Commission said Mr Musk can buy 1.69 million shares of Tesla for 350.02 dollars (£284.03), compared to its most recent closing price of 805.81 dollars (£653.93).It was not clear if Mr Musk, whose wealth is estimated at 39 billion dollars (£31.7 billion) by Forbes magazine, exercised the options.

Elon Musk earns £625 million payday after Tesla hits targets

It was not clear if Mr Musk, whose wealth is estimated at 39 billion dollars (£31.7 billion) by Forbes magazine, exercised the options.

Elon Musk earns £625 million payday after Tesla hits targets

It was not clear if Mr Musk, whose wealth is estimated at 39 billion dollars (£31.7 billion) by Forbes magazine, exercised the options.

Elon Musk earns £625 million payday after Tesla hits targets

Tesla chief executive Elon Musk has seen his wealth boosted by £625 million after his company hit a number of performance targets.

Elon Musk earns £625 million payday after Tesla hits targets

It was not clear if Mr Musk, whose wealth is estimated at 39 billion dollars (£31.7 billion) by Forbes magazine, exercised the options.

Tesla’s Musk earns $770M in stock options, company confirms

Tesla confirmed Thursday that CEO Elon Musk will get the first tranche worth nearly $770 million of a stock-based compensation package

TikTok owner ByteDance moves to shift power out of China - sources

BEIJING/NEW YORK/WASHINGTON — TikTok’s poaching of Disney’s Kevin Mayer to be its CEO was just the most visible part of a broader strategy by its Chinese owner to shift its center of power away from China at a time of rising global tensions, several people familiar with the plans said.

TikTok owner ByteDance moves to shift power out of China: Sources

TikTok's poaching of Disney's Kevin Mayer to be its CEO was just the most visible part of a broader strategy by its Chinese owner to shift its centre of power away from China at a time of rising global tensions, several people familiar with the plans said.

TikTok is becoming less Chinese, more American

ByteDa­nce has expand­ed TikTok's decisi­on-making and resear­ch capabi­lities to Califo­rnia

TikTok maker ByteDance looks to shift power out of China amid rising global tensions

TikTok’s poaching of Disney’s Kevin Mayer to be its CEO was just the most visible part of a broader strategy by its Chinese owner to shift its centre of power away from China at a time of rising global tensions, several people familiar with the plans said.

TikTok owner ByteDance moves to shift power out of China: Report

ByteDance has quietly made a series of moves in recent months to transfer global decision-making and research capabilities out of its home country. The changes come at a time of heightened tension between the United States and China over trade, technology and the COVID-19 pandemic.

UK challenger bank Starling Bank raises €44.3 million to support small businesses

Today UK challenger bank Starling Bank has raised approximately €44.3 million in a funding round led by JTC and Merian Chrysalis Investment Company Limited. The investment follows an approximate €66.5 million investment in February 2020, bringing the total raised by Starling in 2020 to around €110 m

Starling Bank boosts its support for small and medium-sized businesses

Starling Bank is continuing to beef up its B2B banking and payments services following a fresh round of investment.

Starling Bank Scores Another £40 Million from Existing Investors

Starling Bank, a UK-based challenger bank, has raised £40 million (around $49.2 million) in the latest funding round from its existing investors.

Starling Bank raises £40 million as SME banking business picks up

Starling bank has raised a further £40 million from existing investors JTC and Merian Chrysalis Investment Company, bringing the total raised this year to £100 million.

Starling Bank raises £40m as it lends to virus-hit small businesses

Starling Bank has raised £40 million from investors as small businesses turn to lenders for support during the coronavirus crisis.

Starling Bank Raises £40 Million From Existing Investors, Total Raised for the Year Stands at £100 Million

Digital bank Starling bank has raised £40 million from existing investors according to a note from the Fintech. Starling said the funding was led by JTC and M

Starling Bank lands £40m from existing backers

Starling Bank has raised an additional £40 million in funding from existing backers, adding to its £60 million raise in February, TechCrunch reports.

Starling Scores $49 million From Its Investors

Starling, a United Kingdom-based digital bank, has raised $49 million in a funding round led by its investors Merian Chrysalis Investment Co. and Harald McPike.

Capgemini's top executive Thierry Delaporte is new Wipro CEO

Until recently, Thierry Delaporte was CEO of Capgemini Group and a member of its Group Executive Board. He held several leadership roles including that of CEO of Global Financial Services Strategic Business Unit, and head of all global service lines

Wipro appoints Thierry Delaporte as CEO and MD

Wipro has appointed Thierry Delaporte as the Chief Executive Officer and Managing Director of the company, effective July 6.Until recently, Thierry Delaporte was the Chief Operating Officer of Capgemi

Wipro appoints Thierry Delaporte as new CEO and MD

Wipro's 3-month old leader hunt comes to an end

Wipro names former Capgemini COO Thierry Delaporte as new CEO; Neemuchwala to leave on 1 June

Thierry Delaporte, who will replace Abidali Neemuchwala, was most recently the chief operating officer of Capgemini Group.

Who is Wipro’s new MD and CEO?

Wipro’s new MD and CEO Thierry Delaporte: Wipro named Thierry Delaporte as its new chief executive officer (CEO) and managing director (MD). He will be replacing Abidali Neemuchwala who relinquishes his position on June 1.

Thierry Delaporte appointed as CEO and Managing Director of WIPRO

Capgemini COO Thierry Delaporte becomes new Wipro CEO and MD

Neemuchwala will step down as CEO on June 1 while executive chairman Rishad Premji will oversee day-to-day operations of the company until Delaporte takes over on July 6

Wipro share price gains nearly 6% after Thierry Delaporte named new CEO and MD

Wipro share price climbed 5.6% to the day's high of Rs 210.5 on the BSE against the last closing value of Rs 199.30. Volume-wise, 18.8 lakh and 162 lakh shares were trading on BSE and NSE counters, both above the 5, 10 and 30-day average

Wipro shares gain 1% after Co appoints Thierry Delaporte as new CEO and MD

Delaporte was most recently the chief operating officer of French consulting and technology firm Capgemini Group.

Who is Thierry Delaporte? Three interesting facts about Wipro’s new boss

Information technology major Wipro has appointed Capgemini Chief Operating Office, Thierry Delaporte, as its new Chief Executive Officer (CEO) and Managing Director.

Wipro appoints Capgemini’s Thierry Delaporte as new CEO, MD

India Business News: Wipro said it has appointed Thierry Delaporte as its chief executive officer and managing director to replace outgoing Abidali Neemuchwala. Delaporte,

Wipro appoints Thierry Delaporte as CEO & Managing Director

Wipro has appointed Thierry Delaporte as the Chief Executive Officer and Managing Director of the company, effective July 6 this year.Current CEO and MD Abidali Neemuchwala will relinquish his positio

Wipro Appoints Capgemini's Thierry Delaporte As CEO, Managing Director

Wipro has appointed Capgemini executive Thierry Delaporte as its chief executive officer and managing director, the company said in a regulatory filing.

Wipro gains over 6% after Co appoints Thierry Delaporte as new CEO and MD

Delaporte was most recently the chief operating officer of French consulting and technology firm Capgemini Group.

Thierry Delaporte as CEO to help Wipro with new ideas, global presence: Analysts

Prior to Wipro, Delaporte was the chief operating officer of Capgemini Group and a member of its group executive board.Analysts believe Delaporte will be expected to deliver on tasks predecessor Abidali Z. Neemuchwala left incomplete

Indian IT to get first non-Indian CEO in Wipro’s Thierry Delaporte

Thierry Delaporte, who will take over as CEO and MD on July 6 replacing incumbent Abidali Neemuchwala, is chairman Rishad Premjis choice to steer Wipro from a decade-long streak of below-par growth that has lagged peers. Rishad took over as Chairman of Wipro from his father Azim Premji last July.

Oil falls but remains set for biggest monthly gain in years

LONDON: Oil prices were dragged sharply lower on Friday by weak US fuel demand, fears of a second wave of coronavirus cases in South Korea and a worsening in US-China relations, but were still on track for a hefty monthly gain. July Brent crude fell 72 cents, or 2 percent, to $34.57 a barrel by midday in London. US West Texas Intermediate (WTI) crude was down 83 cents, or 2.5

Crude oil prices fall but remains set for biggest monthly gain in years

US West Texas Intermediate (WTI) crude was down $1.28, or 3.8 per cent, at $32.43.

Oil falls but set to post biggest monthly rise in years on output cuts

Brent crude slipped 43 cents, or 1.2%, to $34.86 a barrel by 0643 GMT and US West Texas Intermediate (WTI) crude was at $33.14 a barrel, down 57 cents, or 1.7%.

Oil prices fall as U.S. fuel demand remains weak

Oil prices fall as U.S. fuel demand remains weak

US-China tension to push Asian shares lower in choppy trade

All eyes are now on Friday's press conference hosted by Trump where he will address his response to China over its treatment of Hong Kong.

US-China tension to push Asian shares lower in choppy trade

Asian shares were set to dip in choppy trade on Friday as worries about worsening U.S.-China ties offset the fillip from hopes massive government ...

Asian shares set to dip in choppy trade over worries about worsening US-China ties; dollar slips, oil prices give up gains

Oil prices gave up some of their gains overnight, as concerns that Trump could impose sanctions on China over Hong Kong and a surprise build in inventories overshadowed a steady improvement in US refining activity

Wall St ends mostly higher as U.S.-China spat simmers

U.S. stocks finished mostly higher on Friday after President Donald Trump announced measures against China in response to new security legislation that were less threatening to the U.

S&P 500 up in choppy action after Trump comments on China

S&P 500 up in choppy action after Trump comments on China

The close: TSX ends lower, crude has best month on record

U.S. stocks finish mostly higher as investors take in latest Trump news

S&P 500 up in choppy action after Trump comments on China

Wall Street's main indexes fell on Friday as investors were on edge ahead of a U.S. response to China's national security law on Hong Kong that ...

Renault to cut 15,000 jobs in ‘vital’ cost-cutting plan

Production capacity will be cut to 3.3m by 2024 from 4m vehicles currently

Renault to cut 15,000 jobs in 'vital' cost-cutting plan

French carmaker Renault says nearly 4,600 jobs would be cut in France and more than 10,000 in the rest of the world – some 8% of the company's global workforce

Renault to cut 15,000 jobs

Carmaker Renault said on Friday that it would cut nearly 15,000 jobs, including 4,600 at its core French operations, as it seeks to steer out of a cash crunch exacerbated by the coronavirus crisis.

Renault to cut 15,000 jobs in 'vital' cost-cutting plan

Carmaker Renault said Friday that it would cut nearly 15,000 jobs, including 4,600 at its core French operations, as it seeks to steer out of a cash crunch exacerbated by the coronavirus crisis.

Dollar in narrow range as focus shifts to Trump's China response

Dollar in narrow range as focus shifts to Trump's China response

Dollar bides time, yuan falls before Trump takes stage on China

TOKYO — The dollar was hemmed into a narrow trading range on Friday as traders’ focus shifted to U.

Yen perks up, dollar sags as markets jittery before Trump speaks on China

TOKYO, May 29 ― The yen rose against major currencies today as caution ahead of US President Donald Trump's press conference on China's treatment of Hong Kong triggered safe-haven inflows. The dollar drifted lower against the euro and the British pound but could quickly reverse course amid...

Dollar in narrow range as focus shifts to Trump’s China response

The local currency shone on Thursday, gaining traction versus the dollar, amid trivial activity. Despite demand for dollars from the corporate and interbank players, the shilling was propelled to close at the 3775-3785 levels as the market was crammed with end month foreign currency inflows. Ahead of the weekend, the home unit may hold on to its recently acquired gains and possibly set new ranges. The dollar was hemmed into a narrow trading range yesterday as traders’ focus shifted to U.S. President Donald Trump’s response to China’s passage of a national security law for Hong Kong. The greenback was on course for a weekly loss against major currencies as progress in lifting coronavirus lockdowns and stimulus plans in Europe weakened demand for safe havens, but the mood could quickly worsen if Sino-U.S. tensions increase.

India quarterly growth worst in two decades as lockdown bites

MUMBAI, May 29 — India’s economy grew at its slowest pace in at least two decades last quarter, government data showed today, with warnings of far worse to come as it grapples with the fallout of the world’s largest coronavirus lockdown. Asia’s third-largest economy expanded by just 3.1 per...

India quarterly growth worst in 2 decades as lockdown bites

India, Asia's 3rd largest economy, expands by just 3.1% in January-March 2020

India quarterly growth worst in two decades as lockdown bites

India's economy grew at its slowest pace in at least two decades last quarter, government data showed Friday, with warnings of far worse to come as it grapples with the fallout of the world's largest coronavirus lockdown. The figures beat even gloomier forecasts, with Bloomberg News predicting

Tokyo stocks open lower on US-China tension

TOKYO, May 29 ― Tokyo stocks opened lower today, tracking falls on Wall Street on rising tensions between the US and China. The benchmark Nikkei 225 index was down 0.56 per cent or 123.03 points at 21,793.28 in early trade, while the broader Topix index slipped 0.65 per cent or 10.20 points to...

Tokyo stocks open lower on US-China tension

Tokyo stocks opened lower on Friday, tracking falls on Wall Street on rising tensions between the US and China.

Tokyo stocks close lower on US-China tension

TOKYO, May 29 ― Tokyo stocks closed lower today, snapping a four-day winning streak, with investor sentiment dampened by rising US-China tensions over Hong Kong. The Nikkei 225 index slipped 0.18 per cent, or 38.42 points, at 21,877.89. Over the week, the key index rose 7.31 per cent. The broader...

Wall Street retreats ahead of Trump's response on Hong Kong

President Donald Trump, who has warned of a tough response to China's move, is expected to make an announcement later in the day.

Wall Street retreats ahead of Trump's response on Hong Kong

Wall Street's main indexes fell on Friday as investors were on edge ahead of a U.S. response to China's national security law on Hong Kong that ...

Dow Jones retreats ahead of Trump's response on Hong Kong

The Dow Jones Industrial Average was down 269.88 points, or 1.06 per cent, at 25,130.76.

S&P 500, Dow dip on jitters over Trump's China response

U.S. stock futures dropped on Friday as investors braced for President Donald Trump's response to China's national security legislation for Hong ...

US consumer spending sinks by record 13.6% in face of virus

WASHINGTON — U.S. consumer spending plunged by a record-shattering 13.6% in April as the viral pandemic shuttered businesses, forced millions of layoffs and sent the economy into a deep recession.

US consumer spending sinks by record 13.6% in face of virus

WASHINGTON — U.S. consumer spending plunged by a record-shattering 13.6% in April as the viral pandemic shuttered businesses, forced millions of layoffs and sent the economy into a deep recession.

US consumer spending sinks by record 13.6% in face of virus

Even with employers cutting millions of jobs, personal incomes soared 10.5 per cent in April, reflecting billions of dollars in support through government payments in the form of unemployment aid and stimulus checks.

Pandemic's hit to Japan's factory, retail sectors deeper than expected

TOKYO — Japan’s April factory output fell at a much faster-than-expected pace and retail sales tumbled the most in more than two decades as a coronavirus-triggered state of emergency dealt a heavy blow to the economy.

Pandemic hit to Japan's factory, retail sectors deeper than expected; jobless rate up to 2.6%

Japan's April factory output fell at a much faster-than-expected pace and retail sales tumbled the most in more than two decades as a coronavirus-triggered state of emergency dealt a heavy blow to the economy. Global activity ground to a halt in April as government-imposed lockdowns due to the pandemic disrupted…

Japan factory output and retail sales slump as pandemic hits autos

Official data Friday showed factory output slipped 9.1 percent in April from the previous month.

Travel disruptions, cost cutting key issues for U.S. business in China: report

Travel disruptions, cost cutting key issues for U.S. business in China: report

Travel disruptions, cost cutting key issues for U.S. business in China: report

BEIJING (Reuters) - Global travel disruptions are the top concern for American businesses in China, of which many are cutting compensation and bonuses amid the fallout of the COVID-19 epidemic, according to a report from a business group.

Travel disruptions, cost-cutting key issues for US business in China: Report

Global travel disruptions are the top concern for American businesses in China, of which many are cutting compensation and bonuses amid the ...

Travel disruptions, cost cutting key issues for U.S. business in China

Ninety percent of the 100 or so respondents said they were affected by such disruptions, up from 77% last month, according to a monthly survey on the impact of COVID-19 by the American Chamber of Commerce in China, released Friday.

Travel disruptions, cost cutting key issues for US business in China: report

Global travel disruptions are the top concern for American businesses in China, of which many are cutting compensation and bonuses amid the ...

Madison Wealth Management Buys 1,967 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Madison Wealth Management boosted its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 666.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,262 shares of the e-commerce giant’s stock after acquiring an additional 1,967 shares during the period. Amazon.com accounts for about 1.8% of Madison Wealth […]

Pinnacle Wealth Management Advisory Group LLC Purchases 140 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Pinnacle Wealth Management Advisory Group LLC lifted its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 15.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,029 shares of the e-commerce giant’s stock after purchasing an additional 140 shares during […]

Cambridge Investment Research Advisors Inc. Has $166.59 Million Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

Cambridge Investment Research Advisors Inc. increased its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 7.6% in the first quarter, Holdings Channel.com reports. The institutional investor owned 85,442 shares of the e-commerce giant’s stock after buying an additional 6,025 shares during the period. Amazon.com makes up 1.6% of Cambridge Investment Research Advisors Inc.’s holdings, making […]

Lighthouse Financial Advisors Inc. Sells 42 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Lighthouse Financial Advisors Inc. reduced its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 4.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 909 shares of the e-commerce giant’s stock after selling 42 shares during the quarter. Lighthouse Financial Advisors Inc.’s holdings in Amazon.com were […]

Moloney Securities Asset Management LLC Raises Stock Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Moloney Securities Asset Management LLC increased its position in Amazon.com, Inc. (NASDAQ:AMZN) by 46.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,879 shares of the e-commerce giant’s stock after acquiring an additional 593 shares during the period. Amazon.com makes up about […]

Barber Financial Group Inc. Increases Position in Amazon.com, Inc. (NASDAQ:AMZN)

Barber Financial Group Inc. grew its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 17.5% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 322 shares of the e-commerce giant’s stock after buying an additional 48 shares during the period. Barber Financial Group Inc.’s holdings in Amazon.com were worth $627,000 […]

Citizens & Northern Corp Has $3.81 Million Stock Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Citizens & Northern Corp increased its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 4.2% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 1,952 shares of the e-commerce giant’s stock after purchasing an additional 79 shares during the quarter. Amazon.com makes up approximately 2.4% of Citizens & Northern Corp’s investment portfolio, making the stock its […]

Amazon.com, Inc. (NASDAQ:AMZN) Holdings Raised by Quilter Plc

Quilter Plc lifted its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 0.7% during the first quarter, Holdings Channel.com reports. The fund owned 72,142 shares of the e-commerce giant’s stock after acquiring an additional 489 shares during the period. Amazon.com accounts for approximately 9.3% of Quilter Plc’s holdings, making the stock its biggest holding. Quilter […]

Swiss National Bank Has $3.19 Billion Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Swiss National Bank increased its position in Amazon.com, Inc. (NASDAQ:AMZN) by 23.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,635,551 shares of the e-commerce giant’s stock after acquiring an additional 309,700 shares during the period. Amazon.com comprises about 3.4% of Swiss National […]

Amazon.com, Inc. (NASDAQ:AMZN) is Partnervest Advisory Services LLC’s 9th Largest Position

Partnervest Advisory Services LLC boosted its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 26.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,379 shares of the e-commerce giant’s stock after buying an additional 291 shares during the period. […]

McAdam LLC Sells 21 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

McAdam LLC reduced its position in Amazon.com, Inc. (NASDAQ:AMZN) by 5.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 387 shares of the e-commerce giant’s stock after selling 21 shares during the quarter. McAdam LLC’s holdings in Amazon.com were worth […]

Amazon.com, Inc. (NASDAQ:AMZN) Shares Acquired by Biondo Investment Advisors LLC

Biondo Investment Advisors LLC lifted its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 22.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,361 shares of the e-commerce giant’s stock after purchasing an additional 437 shares during the quarter. Amazon.com comprises 1.5% of Biondo […]

Lucia Wealth Services LLC Has $521,000 Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Lucia Wealth Services LLC raised its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 25.9% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 267 shares of the e-commerce giant’s stock after acquiring an additional 55 shares during the quarter. Lucia Wealth Services LLC’s holdings in Amazon.com were worth $521,000 at the end of the […]

Aberdeen Wealth Management LLC Increases Position in Amazon.com, Inc. (NASDAQ:AMZN)

Aberdeen Wealth Management LLC grew its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 5.3% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 257 shares of the e-commerce giant’s stock after buying an additional 13 shares during the period. Aberdeen Wealth Management LLC’s holdings in Amazon.com were worth $501,000 […]

Amazon.com, Inc. (NASDAQ:AMZN) Stock Position Increased by Mogy Joel R Investment Counsel Inc.

Mogy Joel R Investment Counsel Inc. increased its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 0.1% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 17,475 shares of the e-commerce giant’s stock after buying an additional 24 shares during the quarter. Amazon.com comprises […]

Capital Advantage Inc. Makes New Investment in Amazon.com, Inc. (NASDAQ:AMZN)

Capital Advantage Inc. bought a new position in shares of Amazon.com, Inc. (NASDAQ:AMZN) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 607 shares of the e-commerce giant’s stock, valued at approximately $1,442,000. Amazon.com accounts for 0.6% of Capital Advantage Inc.’s portfolio, […]

How important is Hong Kong to China as a free finance hub?

China still has extensive capital controls and often intervenes in its financial markets and banking system. Hong Kong is one of the world's most open economies and one of the biggest channels for equity and debt financing.

Explainer: How important is Hong Kong to China as a free finance hub?

HONG KONG (Reuters) - Bankers and investors fear China’s push to impose national security laws on Hong Kong threaten the city’s future as an international financial centre. If it gets to that stage, Beijing’s move will come at a cost for China’s economy.

Explainer: How important is Hong Kong to China as a free finance hub?

Hong Kong is one of the world's most open economies and one of the biggest channels for equity and debt financing

How important is Hong Kong to China as a free finance hub?

While China has reformed its markets over the years, over 60% of foreign direct investment (FDI) into and out of China continued to be channeled through Hong Kong as of 2018, according to Morgan Stanley.

Explainer: How important is Hong Kong to China as a free finance hub?

Explainer: How important is Hong Kong to China as a free finance hub?

VW spending $2.2B to expand in China's electric car market

BEIJING — Volkswagen is spending 2 billion euros ($2.2 billion) to expand its presence in China’s electric car industry in the biggest foreign investment announced since the country’s economy began to reopen following the coronavirus pandemic.

VW spending $2.2B to expand in China's electric car market

Volkswagen is spending 2 billion euros ($2.2 billion) to expand its presence in China's electric car industry in the biggest foreign investment announced since the country's economy began to reopen following ...

VW spending $2.2B to expand in China’s electric car market

Volkswagen makes its biggest foreign investment of $2.2 billion to make its presence in the Chinese electric vehicle market.

VW spending $2.2B to expand in China's electric car market

Volkswagen is spending 2 billion euros (US$2.2 billion) to expand its presence in China's electric car industry in the biggest foreign investment announced since the country's economy began to reopen following the coronavirus pandemic.

Volkswagen spending $2.2 billion to expand in China’s electric car market

Volkswagen is spending 2 billion euros ($2.2 billion) to expand its presence in China's electric car industry in the biggest foreign investment announced since the country's economy began to reopen following the coronavirus pandemic.

Crude has best month on record in May as prices surge 88 per cent

Canada's oil patch has little to celebrate even though crude oil prices concluded their best ever month.

Crude has best month

Canada's oil patch has little to celebrate even though crude oil prices concluded their best ever month.

Lupin Standalone March 2020 Net Sales at Rs 2,483.88 crore, down 16.42% Y-o-Y

IIFL Finance Consolidated March 2020 Net Sales at Rs 1,286.70 crore, down 7.93% Y-o-Y

IIFL Finance Standalone March 2020 Net Sales at Rs 774.65 crore, down 8.34% Y-o-Y

Wendt Standalone March 2020 Net Sales at Rs 22.79 crore, down 29.9% Y-o-Y

Auto Corp Goa Standalone March 2020 Net Sales at Rs 75.40 crore, down 29.79% Y-o-Y

Wendt Consolidated March 2020 Net Sales at Rs 26.29 crore, down 28.87% Y-o-Y

Ceat Consolidated March 2020 Net Sales at Rs 1,573.41 crore, down 10.63% Y-o-Y

LT Foods Consolidated March 2020 Net Sales at Rs 1,197.95 crore, up 18.76% Y-o-Y

Muthoot Cap Standalone March 2020 Net Sales at Rs 146.90 crore, up 7.67% Y-o-Y

Rain Industries Consolidated March 2020 Net Sales at Rs 2,897.65 crore, down 9.35% Y-o-Y

Agro Tech Foods Standalone March 2020 Net Sales at Rs 204.67 crore, up 2.24% Y-o-Y

Hind Nat Glass Standalone March 2020 Net Sales at Rs 537.00 crore, down 15.34% Y-o-Y

Volkswagen AG pumps 2 billion euros into China electric vehicle bet, buys stakes in 2 firms

VW said it will invest 1 billion euros to take a 50% stake in the state-owned parent of Anhui Jianghuai Automobile Group (JAC Motors), also raising its stake in an existing electric vehicle joint venture with JAC to 75% from 50%.

Volkswagen pumps 2 billion euros into China electric vehicle bet

BEIJING/HONG KONG (Reuters) - Volkswagen AG (VOWG_p.DE) plans to boost its electric push in China, the world’s biggest auto market, by pumping 2.1 billion euros in two Chinese electric vehicle players.

Volkswagen pumps 2 billion euros into China electric vehicle bet

Volkswagen AG plans to boost its electric push in China, the world's biggest auto market, by pumping 2.1 billion euros in two Chinese electric ...

Volkswagen to invest 2 billion euros in Chinese EV deal, buys stakes in two firms

In a separate transaction, VW said it will pay 1.1 billion euros to acquire 26.5% of Guoxuan High-tech Co Ltd, a maker of electric vehicle batteries, becoming its biggest shareholder

Exclusive: Brazil's Embraer draws foreign interest after Boeing rift - sources

Exclusive: Brazil's Embraer draws foreign interest after Boeing rift - sources

Exclusive: Brazil's Embraer draws foreign interest after Boeing rift - sources

Aircraft makers are circling Brazil's Embraer weeks after Boeing ditched plans for a historic commercial aviation tie-up, people familiar with ...

Brazil’s Embraer drawing foreign interest after collapse of Boeing deal

China’s state-owned COMAC plane maker has voiced informal interest in co-operation with the world’s third-largest jet maker, sources said

Brazil’s Embraer draws foreign interest after Boeing rift, say sources

SAO PAULO, May 29 — Aircraft makers are circling Brazil’s Embraer weeks after Boeing ditched plans for a historic commercial aviation tie-up, people familiar with the matter said. Boeing axed plans to buy 80 per cent of Embraer’s commercial unit in April, ending a planned move into regional...

Japan’s low unemployment rate conceals deeper labour market pain

TOKYO, May 29 — Japan’s labour market in April appeared to be weathering a severe slowdown in economic activity due to the coronavirus pandemic, but a closer look at official data released today revealed a less rosy picture. Japan’s jobless rate rose to 2.6 per cent in April from 2.5 per cent...

Japan's low unemployment rate conceals deeper labor market pain

Japan's labor market in April appeared to be weathering a severe slowdown in economic activity due to the coronavirus pandemic, but a closer look at official data released on Friday revealed a less rosy picture. Japan's jobless rate rose to 2.6% in April from 2.5% in the previous month, a…

Consumer discretionary stocks in the spotlight as U.S. economy reopens

A gradual lifting of lockdowns in some states has stirred hopes for a bounce back for the retailers that make up much of the sector

Wall Street Week Ahead: Investors eye consumer discretionary stocks as US reopens

Investors are taking a closer look at the market's consumer discretionary companies as a reopening U.S. economy fuels hopes of a turnaround for ...

Renault to cut 15,000 jobs in US$2.2b cost cutting plan

PARIS: French auto giant Renault plans to cut around 15,000 jobs worldwide, including 4,600 in France, as part of a two billion euro (US$2.2 ...

Renault to cut 15,000 jobs in 2b euro cost cutting plan

Renault hopes to bring about the job cuts without redundancies through voluntary departures, internal mobility measures and retraining, sources said.

Renault to cut 15,000 jobs worldwide, including 4,600 in France: Sources

French auto giant Renault plans to cut around 15,000 jobs worldwide, including 4,600 in France, as part of a two billion euro cost-cutting plan over three years, sources said Thursday. The plan,

Aimia vows to fight Air Canada's court move to halt upcoming merger

Aimia Inc. says it plans to defend itself against a move by Air Canada in Quebec Superior Court to halt a merger that the smaller company sees as key to its corporate reinvention.

Aimia vows to fight Air Canada's court move to halt upcoming merger

TORONTO — Aimia Inc. says it plans to defend itself against a move by Air Canada in Quebec Superior Court to halt a merger that the smaller company sees as key to its corporate reinvention.

Friday’s small-cap stocks to watch

Our roundup of Canadian small-caps making news and on the move today

Market movers: Stocks seeing action on Friday - and why

Laurentian down sharply after dividend cut; Canopy sinks on earnings

Financial sector weighs on S&P/TSX composite, U.S. stock markets down

Losses in the financial sector helped weigh down Canada's main stock index in late-morning trading as it posted a triple-digit decline, while U.S. stock markets also moved lower.

Financial sector weighs on Toronto, U.S. stock markets mixed in early trading

TORONTO — Canada's main stock index fell in early trading as losses in the heavyweight financial sector offset gains by materials stocks. The S&P/TSX composite index was down 63.98 points at 15,198.75.

Financial sector weighs on Toronto, U.S. stock markets mixed in early trading

Canada's main stock index fell in early trading as losses in the heavyweight financial sector offset gains by materials stocks.

Crude has best month on record in May as prices surge 88 per cent

TORONTO — Canada's main stock index ended a strong May a little weaker while crude oil prices enjoyed their best ever month, surging 88 per cent. The S&P/TSX composite index closed down 69.90 points at 15,192.83.

Kathmere Capital Management LLC Purchases 3,849 Shares of Apple Inc. (NASDAQ:AAPL)

Kathmere Capital Management LLC increased its position in Apple Inc. (NASDAQ:AAPL) by 68.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,509 shares of the iPhone maker’s stock after buying an additional 3,849 shares during the quarter. Apple accounts for 0.9% of […]

Mengis Capital Management Inc. Sells 204 Shares of Apple Inc. (NASDAQ:AAPL)

Mengis Capital Management Inc. trimmed its stake in Apple Inc. (NASDAQ:AAPL) by 0.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 77,222 shares of the iPhone maker’s stock after selling 204 shares during the period. Apple comprises about 6.7% of Mengis Capital […]

Fuller & Thaler Asset Management Inc. Increases Position in Apple Inc. (NASDAQ:AAPL)

Fuller & Thaler Asset Management Inc. grew its stake in Apple Inc. (NASDAQ:AAPL) by 28.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 26,300 shares of the iPhone maker’s stock after acquiring an additional 5,827 shares during the quarter. Fuller & Thaler Asset […]

Fusion Family Wealth LLC Has $325,000 Stock Position in Apple Inc. (NASDAQ:AAPL)

Fusion Family Wealth LLC decreased its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 5.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,277 shares of the iPhone maker’s stock after selling 68 shares during the quarter. Apple makes up […]

Apple Inc. (NASDAQ:AAPL) is Wade G W & Inc.’s 3rd Largest Position

Wade G W & Inc. decreased its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 4.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 172,339 shares of the iPhone maker’s stock after selling 8,544 shares during the quarter. Apple accounts for […]

Apple Inc. (NASDAQ:AAPL) Shares Bought by FineMark National Bank & Trust

FineMark National Bank & Trust grew its stake in shares of Apple Inc. (NASDAQ:AAPL) by 3.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 211,873 shares of the iPhone maker’s stock after acquiring an additional 6,583 shares during the period. […]

Heritage Investors Management Corp Sells 8,501 Shares of Apple Inc. (NASDAQ:AAPL)

Heritage Investors Management Corp decreased its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 3.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 244,454 shares of the iPhone maker’s stock after selling 8,501 shares during the quarter. Apple makes up […]

Apple Inc. (NASDAQ:AAPL) Shares Sold by Focused Wealth Management Inc

Focused Wealth Management Inc trimmed its stake in shares of Apple Inc. (NASDAQ:AAPL) by 2.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 25,517 shares of the iPhone maker’s stock after selling 515 shares during the period. Apple comprises about […]

Apple Inc. (NASDAQ:AAPL) Shares Sold by Buckingham Capital Management Inc.

Buckingham Capital Management Inc. reduced its stake in shares of Apple Inc. (NASDAQ:AAPL) by 21.6% in the 1st quarter, HoldingsChannel reports. The firm owned 50,973 shares of the iPhone maker’s stock after selling 14,018 shares during the quarter. Apple makes up 3.3% of Buckingham Capital Management Inc.’s portfolio, making the stock its 5th largest position. […]

Apple Inc. (NASDAQ:AAPL) Shares Acquired by Noesis Capital Mangement Corp

Noesis Capital Mangement Corp lifted its position in shares of Apple Inc. (NASDAQ:AAPL) by 3.9% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,412 shares of the iPhone maker’s stock after buying an additional 541 shares during the period. Apple […]

Apple Inc. (NASDAQ:AAPL) is Canton Hathaway LLC’s 4th Largest Position

Canton Hathaway LLC lowered its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 1.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,627 shares of the iPhone maker’s stock after selling 153 shares during the quarter. Apple makes up 2.1% of […]

Asia shares fall as US-China tensions douse rally on Wall St

Shares fell Friday in Asia as investors awaited a news conference about China by President Donald Trump later in the day.

Asia shares fall as U.S.-China tensions douse rally on Wall St

Shares fell Friday in Asia as investors awaited a news conference about China by President Donald Trump later in the day.

World shares fall as Hong Kong, U.S.-China tensions weigh

Shares fell Friday in Europe and Asia as investors awaited a news conference about China by President Donald Trump later in the day.

Russia's Rosneft finds extended oil cuts painful: Sources

Rosneft has told the energy ministry it would be difficult to maintain cuts to the end of the year, as it has had to cut shipments to major buyers, such as Glencore and Trafigura, despite good demand, two sources close to the talks said on condition of anonymity.

Exclusive: Russia's Rosneft finds extended oil cuts painful - sources

Rosneft does not have enough crude to ship to buyers with which it has long-term supply deals, making it hard for the Russian company to continue ...

Exclusive: Russia's Rosneft finds extended oil cuts painful - sources

Exclusive: Russia's Rosneft finds extended oil cuts painful - sources

UK business confidence matches 2008 low in May - Lloyds Bank

LONDON — British business confidence fell to its lowest since the 2008 financial crisis in May, according to a survey for Lloyds Bank which contrasts with other surveys which have shown a small improvement since the initial shock of the coronavirus lockdown.

UK business confidence at its lowest since December 2008

New survey shows their confidence at new depths, while fear of job losses soar

UK business morale deteriorates to 2008 low in May – Lloyds Bank

According to the latest survey conducted for Lloyds Bank, the UK business confidence hit its lowest since the 2008 Global Financial Crisis (GFC) due t

Stick or twist? Investors face coronavirus-induced property dilemma

Property has long been a staple of a balanced investment portfolio, favoured by pension funds and insurers seeking assets that combine capital value growth offered by stocks with secure income akin to bonds.

Stick or twist? Investors in virus-induced property dilemma

LONDON: The coronavirus pandemic has emptied offices and shuttered shops but filled warehouses and highlighted demand for work-from-home spaces, leaving investors wondering if they should flee real estate or double down on their bets. Property has long been a staple of a balanced investment portfolio, favored by pension funds and insurers seeking assets that combine capital

Stick or twist? Investors face coronavirus-induced property dilemma

LONDON (Reuters) - The coronavirus pandemic has emptied offices and shuttered shops but filled warehouses and highlighted demand for work-from-home spaces, leaving investors wondering if they should flee real estate or double down on their bets.

Indian rupee settles 14 paise higher at 75.62 against US dollar

Forex traders said investors are awaiting the country's gross domestic product data for the January-March quarter, due later in the day, for further cues.

Rupee rises 11 paise to 75.65 against US dollar in early trade

The rupee opened at 75.71 at the interbank forex market and then gained further to 75.65, up 11 paise over its last close.

Rupee settles 14 paise higher at 75.62 against US dollar

The rupee appreciated 14 paise to provisionally close at 75.62 against the US dollar on Friday as foreign fund inflows and weak American currency boosted investor confidence.

Rupee rises 11 paise to 75.65 against US dollar in early trade

The rupee appreciated 11 paise to 75.65 against the US dollar in opening trade on Friday as foreign fund inflows and weak American currency boosted investor confidence. Forex traders said investors

Rupee settles 14 paise higher at 75.62 against US dollar

The rupee appreciated 14 paise to provisionally close at 75.62 against the US dollar on Friday as foreign fund inflows and weak American currency boosted investor confidence. Forex traders said invest

Rupee appreciates 14 paise to close at 75.62; forex traders say investors await Q4 GDP data

The rupee appreciated 14 paise to provisionally close at 75.62 against the US dollar on Friday as foreign fund inflows and weak American currency boosted investor confidence

Donald Trump announces probe of Chinese companies listed in US

Among the largest were e-commerce giant Alibaba, China's largest oil producer PetroChina and Sinopec, the world's largest oil refiner.The announcement followed Beijing's move to implement a new security law on semi-autonomous Hong Kong that critics say would stifle freedom

Trump announces probe of Chinese companies listed in US

US President Donald Trump on Friday ordered a probe into the actions of Chinese companies listed on American financial markets as tensions flared anew between the world's two biggest economies. The announcement followed Beijing's move to implement a new security law on semi-autonomous Hong Kong

Sensex surges 224 pts; Nifty tops 9,550-mark

Extending its rising streak to the third session, equity benchmark Sensex jumped 224 points on Friday, driven by gains in HDFC, ITC and HUL despite weak cues from global markets.

Sensex surges 224 points; Nifty tops 9,550-mark

Extending its rising streak to the third session, equity benchmark Sensex jumped 224 points on Friday, driven by gains in HDFC, ITC and HUL despite weak cues from global markets. After gyrating 656.72

Markets march higher for third day; post weekly gains

India Business News: Equity benchmarks finished in the green for the third session on the trot on Friday as investors scooped up FMCG, finance and banking stocks despite n

Sensex rebounds 224 points from day's low, Nifty at 9,580; ONGC top gainer, jumps over 5%

Sensex jumped 224 points on Friday, driven by gains in HDFC, ITC and HUL despite weak cues from global markets.

Markets march higher for third day in a row

Equity benchmarks finished in the green for the third session on the trot on Friday as investors scooped up FMCG, finance and banking stocks despite negative overseas cues and rising Covid-19 cases

Sensex surges 224 points, Nifty reclaims 9,500-mark

Equity benchmark Sensex extended its gains further on Friday, surging 224 points while Nifty topped the 9,500-mark. 

Airlines Leave $29 Billion Aid Fund Untapped in Bet on Rebound

U.S. airlines have yet to tap $29 billion in federal pandemic relief loans as they wait to see whether the reopening of the economy revives demand and diminishes the need for money that comes with government strings attached.

Covid-19: US airlines leave $29 billion aid fund untapped in bet on rebound

Although the four largest US passenger airlines have applied for the Treasury Department program, only American Airlines Group Inc. has said it intends to tap the pool of funds.

What’s Keeping Stocks Afloat? The ‘Microsoft Market’

The tech giant is a mainstay of the industry that lets companies, governments and people navigate disruptions caused by the coronavirus and other threats.

Welcome to the Microsoft economy

Stocks were supposed to be mired in a bear market after they plunged in March as the coronavirus pandemic shut business and sent unemployment to its highest rate since the Great Depression. Except they aren't.

Amazon in talks for new office despite pandemic

Amazon.com Inc. is in talks to rent an office block in Dublin with space for about 750 workers, according to a person familiar with the matter.

Amazon in talks for new Dublin office even as virus hits

Amazon.com Inc. is in talks to rent an office block in Dublin with space for about 750 workers, according to a person familiar with the matter.

Amazon in talks for new 750-worker Dublin office despite virus

Amazon is in talks to rent an office block in Dublin with space for about 750 workers.

Germany, Brussels seal pact on Lufthansa rescue plan: sources

Germany and the European Commission have reached agreement on a giant Berlin-funded rescue plan for coronavirus-hit Lufthansa, a Commission spokeswoman and a source close to the negotiations said Friday.

Germany, Brussels seal pact on Lufthansa rescue plan, say sources

FRANKFURT, May 30 ― Germany and the European Commission have reached a pact on a giant Berlin-funded rescue plan for coronavirus-hit Lufthansa, a Commission spokeswoman and a source close to the negotiations said yesterday. Since the pandemic hit Europe, the Lufthansa group ― which also...

Peet’s Coffee IPO Raises $2.5 Billion 

Peet’s Coffee IPO Raises $2.5 Billion 

European coffee giant brews a strong IPO

JDE Peet's shows that coffee is a good mix to have in a virus-struck marketplace

Chile, Peru secure credit lines from IMF amid pandemic

(UPDATED) The International Monetary Fund grants Chile a $24-billion credit line and Peru an $11-billion credit line, both for two years

Chile, Peru secure credit lines from IMF amid pandemic

The IMF approved a two-year $24 billion credit line for Chile on Friday as the South American nation battles the growing impact of the coronavirus pandemic.

CWB Financial reports Q2 profit down as provisions for credit losses soar

EDMONTON — CWB Financial Group reported its second-quarter profit fell compared with a year ago as the economy tanked due to the steps taken to slow the COVID-19 pandemic and its provisions for credit losses more than doubled.

CWB reports Q2 profit down as provisions for credit losses soar

CWB Financial Group reported its second-quarter profit fell compared with a year ago as the economy tanked due to the steps taken to slow the COVID-19 pandemic and its provisions for credit losses more than doubled.

FDA finds contamination in several brands of diabetes drug

WASHINGTON - U.S. health regulators are telling five drugmakers to recall their versions of a widely used diabetes medication after laboratory tests found e

Five drug companies told to recall diabetes medication amid cancer fears

Five US pharmaceutical companies have been told to recall their versions of a type of diabetes medication after tests found worrying levels of a chemical linked to cancer.Several batches of metformin, which is widely used to reduce excess blood sugar in type 2 diabetes patients, tested positive for unsafe

CannTrust back in business

CannTrust Holdings Inc. says Health Canada has reinstated its licences for its greenhouse in Niagara and that it will immediately restart operations.

CannTrust plans to restart Niagara greenhouse after Health Canada reinstates licence

The cannabis company says it cannot say when its products will be available in the market as that depends on a Health Canada decision regarding its manufacturing facility in Vaughan, Ont.

CannTrust Holdings greenhouse licenses reinstated, plans restart of operations

CannTrust Holdings Inc. says Health Canada has reinstated its licences for its greenhouse in Niagara and that it will immediately restart operations.

CannTrust Holdings greenhouse licenses reinstated, plans restart of operations

VAUGHAN, Ont. — CannTrust Holdings Inc. says Health Canada has reinstated its licenses for its greenhouse in Niagara and that it will immediately restart operations.

RBI imposes Rs 4 crore penalty on Citibank

In a release, RBI said the penalty has been imposed on Citibank NA for contravention of certain sections of the Banking Regulation Act and for non-compliance with directions.

RBI imposes Rs 4 crore penalty on Citibank; here’s why

The RBI has also imposed penalty on three co-operative banks for non-compliance with various directions issued by it.

RBI imposes Rs 4 crore penalty on Citibank

India Business News: MUMBAI: The Reserve Bank has imposed a penalty of Rs 4 crore on Citibank for non-compliance with various regulatory norms and directions of the centra.

RBI imposes monetary penalty on 4 banks

The Reserve Bank of India (RBI), on Friday, said it has imposed a monetary penalty on Citibank (₹4 crore), Bharat Co-operative Bank (₹60 lakh), TJSB Sahakari Bank (₹45 lakh), and Nagar Urban Co-operat

Citibank fined Rs 4 crores for non-compliance

The Reserve Bank of India, on Friday, imposed a penalty of Rs 4 crore on Citibank for violation of remuneration norms and non-compliance regarding obtaining the declarations from customers.

RBI Imposes Rs 4 Crore Penalty On Citibank Over Non-Compliance Of Regulations

The action will not affect the bank's customers, RBI clarified

RBI slaps penalties on Bank of India, Karnataka Bank, Saraswat Cooperative Bank for non-compliance

RBI also imposed a penalty of Rs 1.2 crore on Karnataka Bank for non-compliance with central bank’s directions.

RBI slaps ₹4 crore fine on Citibank

The Reserve Bank of India (RBI) has slapped ₹4 crore penalty on Citibank for violating several norms.The banking regulator said the penalty was due to contravention of the Banking Regulation Act, 1949

India's Wipro names new CEO; Thierry Delaporte to take over July 6

Thierry Delaporte to join from Capgemini and will be based in Paris

Billionaire Premji Hires Wipro CEO From His Rival Capgemini Thierry Delaporte New CEO

Thierry Delaporte will take over effective July 6, replacing Abidali Z Neemuchwala. Wipro named Thierry Delaporte chief executive officer, recruiting … Billionaire Premji Hires Wipro CEO From His Rival Capgemini Thierry Delaporte New CEO Read More »

Most actively traded companies on the TSX

TORONTO — Some of the most active companies traded Friday on the Toronto Stock Exchange: Toronto Stock Exchange (15,192.83, down 69.90 points.) Bombardier Inc. (TSX:BBD.B). Industrials. Down 3.5 cents, or 7.29 per cent, to 44.5 cents on 122 million shares. B2Gold Corp. (TSX:BTO). Materials. Up 46 cents, or 6.45 per cent, to $7.59 on 72.6 million …

Most actively traded companies on the TSX

TORONTO — Some of the most active companies traded Friday on the Toronto Stock Exchange: Toronto Stock Exchange (15,192.83, down 69.90 points.) Bombardier Inc. (TSX:BBD.B). Industrials. Down 3.5 cents, or 7.29 per cent, to 44.

Australia cricket faces further cost-cutting despite improved outlook

Australian cricket faces another round of cost-cutting to shore up finances hit by the coronavirus shutdown and no part of the game will be immune, board chief Kevin Roberts said on Friday. Cricket

Australia faces further cost-cutting despite improved outlook

Australian cricket faces another round of cost-cutting to shore up finances hit by the coronavirus shutdown and no part of the game will be ...

Canopy Growth reports $1.3B fourth-quarter loss, hits reset on strategic focus

Canopy Growth Corp. is rethinking its first-to-every-market strategy after reporting a $1.3-billion loss in its fourth quarter.

Canopy Growth reports $1.3B fourth-quarter loss, hits reset on strategic focus

Canopy Growth Corp. is rethinking its first-to-every-market strategy after reporting a $1.3-billion loss in its fourth quarter. The Smith Falls, Ont.

UK car production reaches lowest point since WW2

UK car production fell to its lowest level since the Second World War in April, down -99.7%, according to figures from the Society of Motor Manufacturers and Traders (SMMT).

The UK made just 197 cars last month, a drop of 99.7% as coronavirus tanks factory output

The UK produced only 197 cars in April, 99.7% lower than its output in April 2019, with production almost entirely stopped by coronavirus, the S...

Tesla performance opens door to Elon Musk payday

NEW YORK, May 29 ― Tesla has hit financial marks that let its colourful chief executive Elon Musk reap the first portion of a multi-billion dollar compensation package, the electric car maker said yesterday. Musk has foregone a base salary in exchange for a shot at a fortune in deeply discounted...

Tesla performance opens door to Elon Musk payday

Tesla has hit financial marks that let its colorful chief executive Elon Musk reap the first portion of a multi-billion dollar compensation package, the electric car maker said Thursday.

Vodafone Idea not considering any proposal from Google

On May 28, it was reported that Google was looking to enter India's telecom market via a 5 percent stake purchase in Vodafone Idea.

Vodafone Idea issues clarification on reports of Google picking stake in company

Reacting to the reports of tech giant Google eyeing a 5 per cent stake in the company, Vodafone Idea on Friday clarified that there is no proposal before

Vodafone Idea Denies Reports Of Likely Stake Sale Talks With Google

On Friday, Vodafone Idea shares rose 12.71% to Rs 6.56 apiece on the BSE on reports of a likely stake sale deal with Google.

Vodafone Idea shares zoom on Google stake buy reports

Telecom giant denies any such plans

No proposal before board now, says Voda Idea on Google picking stake in co

The clarification to the BSE by Vodafone Idea comes a day after reports that Alphabet Inc's Google is eyeing about 5% stake in the telecom company.

Vodafone Idea dismisses report of Google buying stake

"Currently, there is no proposal as reported by the media that is being considered at the Board," Vodafone Idea said

Vodafone Idea: No proposal before Board on stake sale to Google, but evaluating various opportunities

The Financial Times had reported that Google was exploring to buy a 5% stake in Vodafone Idea.

UK plans new 5G club of 10 democracies, including India: Report

The British government has approached the US with the prospect of creating a 5G club of 10 democracies, including India, amid growing security concerns related to Chinese telecom giant Huawei,

UK plans new 5G club of 10 democracies, including India: Report

A so-called 'D10' club of democratic partners, including G7 countries – UK, US, Italy, Germany, France, Japan and Canada – plus Australia, South Korea and India will aim to create alternative suppliers of 5G equipment and other technologies to avoid relying on China

UK plans new 5G club of 10 countries, including India, to reduce reliance on China, says report

The British government has approached the US with the prospect of creating a 5G club of 10 democracies, including India, amid growing security concerns related to Chinese telecom giant Huawei, according to a UK media report.

UK plans new 5G club of 10 democracies, including India: Report

The move to speed up such a club comes as the UK launched an inquiry into Huawei's involvement in the country's mobile network upgrade in the wake of US sanctions against the company.

UK plans new 5G club of 10 democracies, including India: Report

The move to speed up such a club comes as the UK launched an inquiry into Huawei's involvement in the country's mobile network upgrade in the wake of US sanctions against the company.

UK plans new 5G club of 10 democracies, including India, says report

The group will aim to create alternative suppliers of 5G equipment and other technologies to avoid relying on China

In Senegal, the struggles of a small airline during coronavirus

Launching an airline in Africa is a notorious challenge in a continent and sector where opportunities are often crimped by regulations and national champions are dominant.

In Senegal, the struggles of a small airline during coronavirus

Launching an airline in Africa is a notorious challenge in a continent and sector where opportunities are often crimped by regulations and national champions are dominant.

US stocks slide as traders await Trump's China news conference

US stocks slipped on Friday ahead of President Donald Trump's news conference on China. US consumer spending in April also posted the biggest dr...

US stocks erase losses, finish higher after Trump refrains from China sanctions

US stocks gained on Friday, reversing earlier losses, after President Donald Trump said he would take steps to revoke Hong Kong's preferential t...

Tencent in talks to buy Warner Music stake: WSJ

(Reuters) - Chinese internet giant Tencent Holdings Ltd (0700.HK) is in talks to invest $200 million in Warner Music Group, ahead of the record company's slated initial public offering next week, the Wall Street Journal reported here on Friday.

Tencent in talks to buy Warner Music stake: report

The listing by the world’s third-largest recording label could potentially be the largest New York IPO so far in 2020.

India's economy seen slowing rapidly in March quarter, with worse to come

Gross domestic product data out later on Friday is expected to show India's economy grew at its slowest pace in at least two years in the March quarter as the coronavirus pandemic weakened already

GDP growth slows to 3.1% in Q4; core sector output contracts 38.1% in April

India Business News: The gross domestic product or GDP data released on Friday showed that the economy slowed to 3.1 per cent in the January-March quarter, partly as a res

India GDP growth slows to 3.1% in Q4, stands at 11-year low of 4.2% in FY20

The second Advance Estimates, released on February 28, had projected the FY20 growth rate at 5 per cent

Indian economy slows in March quarter, with worst to come

India's economy grew at 3.

Renault to cut 14,600 jobs worldwide and lower capacity

Cost reductions aimed at outlasting the downturn that has rocked the auto industry

Renault plans to cut 14,600 jobs worldwide in race to reduce costs

The measures round off a decisive week for Renault and its Japanese partners Nissan Motor Co. and Mitsubishi Motors Corp., drawing a line under a two-decade era of aggressive expansion

Coronavirus-induced border bottlenecks slow food deliveries in East Africa

Uganda requires truck drivers from Kenya and Tanzania to take coronavirus tests before they are allowed to enter.

Coronavirus-induced border bottlenecks slow food deliveries in East Africa

KAMPALA/NAIROBI (Reuters) - Bottlenecks at borders as government screen lorry drivers to contain the new coronavirus are putting the delivery of vital food supplies in East Africa at risk, the U.N.’s World Food Programme (WFP) warned on Friday.

Champagne sales dip as world goes into warlike depression amid coronavirus

Global champagne sales are forecast to slump by a third, or 100 million bottles, this year as the coronavirus crisis shuts bars and restaurants worldwide and hammers economies. 

Global champagne sales fizzle amid coronavirus pandemic because people aren't celebrating

Now this is just cham-painful.

Core sector output contracts by record 38.1 per cent in April

The output of eight core infrastructure industries shrank by a record 38.1 per cent in April due to the coronavirus-induced lockdown, according to the official data.

Core sector output contracts by record 38.1% in April

The output of eight core infrastructure industries shrank by a record 38.1 per cent in April due to the coronavirus lockdown, according to the official data. The eight core sectors had expanded by

India’s Core Sector Output Contracts By Record 38.1% In April

India’s core sector output shrank by a record 38.1% in April due to the coronavirus-induced lockdown, according to official data. 

India's eight core infrastructure sectors contract 38.1% in April

Massive contraction recorded amid a nationwide lockdown to contain the spread of coronavirus

Lockdown impact: Eight core industries' output contracts by 38.1% in April

Output of eight infrastructure sectors saw 5.2% growth in year-ago period

Fiscal deficit widens to 4.6% of GDP in FY20

This was the highest level of deficit for the Centre since FY13.

India reports GDP growth for January-March quarter at 3.1%; 4.2% for FY20

India’s gross domestic product (GDP) growth slowed to 3.1 per cent in January-March quarter, official data showed on Friday.

India's GDP growth dips to 3.1% in January-March 2020; 11-year-low of 4.2% in 2019-20

India's economic growth slipped to 3.1 per cent in the January-March quarter of 2019-20 showing impact of COVID-19 pandemic. The gross domestic product (GDP) had expanded by 5.7 per cent in the

India GDP growth dips to 3.1 pc in Jan-Mar; 4.2 pc in 2019-20

The gross domestic product (GDP) had expanded by 5.7 per cent in the corresponding quarter of 2018-19, according to data released by the National Statistical Office (NSO) on Friday.

India's GDP growth dips to 3.1 per cent in January-March 2020; 4.2 per cent for fiscal year 2019-20

According to data by NSO, the GDP had expanded by 5.7 per cent in the corresponding quarter of 2018-19.

India's Q4 FY20 GDP Down To 3.1%, 2019-20 Growth Shrinks To 4.2%

On a sequential basis, the quarterly growth rate has progressively come down from 5.2 per cent in Q1 of 2019-20 to 4.4 per cent in Q2 and 4.1 per cent in Q3.

GDP growth in 2019-20 slows to 11-year low of 4.2%, Jan-Mar growth dips to 3.1%

In 2019-20, the Indian economy grew by 4.2% against 6.1% growth rate in 2018-19.

What every Canadian investor needs to know today

A look at the morning’s market action

India, US could strike a 'smaller' trade deal in the coming weeks: Indian envoy

Addressing the virtual West Coast Summit of US-India Strategic Partnership Forum (USISPF), Sandhu said that India's supply of antimalarial drug hydroxychloroquine (HCQ) to the US has given the two countries enough confidence and have played an important foundation.

India, US could strike a 'smaller' trade deal in coming weeks: Indian envoy

The two countries have been negotiating a trade package to iron out certain issues and further boost two-way commerce

India, US could strike a 'smaller' trade deal in the coming weeks: Indian envoy

India and the US could strike a “smaller” trade deal in the coming weeks, India's ambassador Taranjit Singh Sandhu has said while acknowledging that the unprecedented challenges posed by the COVID-19

India, US could strike a 'smaller' trade deal in the coming weeks: Indian envoy

The two countries have been negotiating a trade package to iron out issues and boost two-way commerce.

India, US could strike a ‘smaller’ trade deal in the coming weeks: Indian envoy

According to India's ambassador Taranjit Singh Sandhu, India and the US could strike a smaller trade deal in the coming weeks

Modi’s hydroxychloroquine support to US brings first installment of mega US-India trade deal closer

India and the US could strike a smaller trade deal in the coming weeks as hydroxychloroquine supply to the US has given the two countries enough confidence.

Uber launches hourly ride booking option in some U.S. cities

(Reuters) - Uber Technologies Inc on Friday said it would offer rides by the hour in some U.S. cities, a feature aimed at helping Americans with essential trips during the coronavirus pandemic.

Uber launches hourly ride booking option in some US cities

Uber Technologies Inc on Friday said it would offer rides by the hour in some U.S. cities, a feature aimed at helping Americans with essential ...

Uber rolls out ride-by-hour option in some US cities

Uber on Friday said it would offer rides by the hour in some US cities, a feature aimed at helping Americans with essential trips during the coronavirus pandemic. The option, which is already

Uber Debuts $50 Hourly Ride Option In Select US Cities

Starting next month, ridesharing users in a dozen cities can opt in for a $50 an hour ride, Uber Technologies Inc. announced.

Uber introduces hourly ride booking option in the U.S.

Using the new feature, riders can select the amount of time that the trip should take, which would calculate a flat fare for the duration of the ride. The option will cost $50 per hour.

Latest on the worldwide spread of the coronavirus

While several countries further relax restrictions designed to contain the coronavirus, with Italy and England due to restart their top-flight soccer leagues next month, Russia, Brazil and Mexico kept struggling with rising numbers of cases and deaths.

Stocks - US Futures Lower; Consolidating Ahead of Trump Speech

Stocks - US Futures Lower; Consolidating Ahead of Trump Speech

India’s key growth engine grinds to halt in sign of slump

Businesses providing services of everything from technology to travel and trade were the first to be hit by lock down. Unlike manufacturing-heavy economies like China and South Korea, in India, the services sector accounts for 55% of gross domestic product -- and the slump in output has had ripple effects on jobs and economic growth.

India’s key growth engine grinds to halt in sign of slump

India Business News: From call centers to hotels to airlines, India’s key services industries have come to a standstill during the coronavirus outbreak, dragging the econo

Stocks rebound on relief at Trump's response to China over Hong Kong

NEW YORK (Reuters) - A gauge of global equities rebounded and crude oil rose on Friday after U.S. President Donald Trump ordered an end to Washington’s special treatment of Hong Kong, a move investors welcomed as unlikely to jeopardize a trade accord with China.

Wall Street ends down in late selloff; Facebook and China weigh

The Dow Jones Industrial Average fell 147.63 points, or 0.58%, to 25,400.64, the S&P 500 lost 6.4 points, or 0.21%, to 3,029.73 and the Nasdaq Composite dropped 43.37 points, or 0.46%, to 9,368.99.

Global stocks fall as investors brace for Trump to hit China with a 'bazooka'

Global stocks turned lower on Friday as investors prepare for fresh US-China intensification ahead of President Donald Trump's press conference ...

Tokyo shares snap 4-day winning streak amid U.S.-China tensions

Tokyo shares fell Friday, with both the benchmark Nikkei and Topix indexes snapping their four-day winning streaks, amid concern about worsening U.S.-China tensions over Beijing's new security law that Washington says will undermine the autonomy of Hong Kong. The 225-issue Nikkei Stock Average ended down 38.42 points, or 0.18 percent,…

Stocks - Europe Lower; Caution Reigns Over Hong Kong

Stocks - Europe Lower; Caution Reigns Over Hong Kong

Stocks - Europe Lower Amid Nervousness Ahead of Trump Statement

Stocks - Europe Lower Amid Nervousness Ahead of Trump Statement

Stocks - Wall Street Slips as U.S. Consumer Wobbles; Trump's China Speech Eyed

Stocks - Wall Street Slips as U.S. Consumer Wobbles; Trump's China Speech Eyed

Stocks - Dow Notches Two-Month Winning Streak as Trump Stops Short on China

Stocks - Dow Notches Two-Month Winning Streak as Trump Stops Short on China

Sensex drops over 300 pts in early trade; Nifty tests 9,400 level   

Equity benchmark Sensex tumbled over 300 points in early trade on Friday dragged by losses in HDFC Bank, Infosys, TCS and Reliance Industries

Sensex drops over 300 pts in early trade; Nifty tests 9,400 level

Equity benchmark Sensex tumbled over 300 points in early trade on Friday dragged by losses in HDFC Bank, Infosys, TCS and Reliance Industries amid weak cues from global markets. After touching a low

OPEC delivers three quarters of record oil cut in May: survey

LONDON (Reuters) - OPEC oil output hit the lowest in two decades in May as Saudi Arabia and other members started to deliver a record supply cut, a Reuters survey found, although Nigeria and Iraq are laggards in making their share of the reduction.

OPEC delivers three quarters of record oil cut in May: Survey

OPEC oil output hit the lowest in two decades in May as Saudi Arabia and other members started to deliver a record supply cut, a Reuters survey ...

OPEC delivers three quarters of record oil cut in May: survey

OPEC oil output hit the lowest in two decades in May as Saudi Arabia and other members started to deliver a record supply cut, a Reuters survey ...

TI rules the analogue roost

In 2019, TI’s analogue sales were directed to industrial applications (36% of revenue), smartphones and other personal electronics (23% of revenue), and automotive applications (21% of revenue).  All three application segments are highly profitable and afford it the best opportunities for growth now and into the future, the company said.

TI remains top analog IC supplier

With analog sales of US$10.2 billion and a 19% market share, Texas Instruments held a firm grip on its position as the leading supplier of analog devices in 2019, according to IC Insights.

Oil surges 5% on U.S.-China trade optimism, falling crude output

NEW YORK (Reuters) - Oil prices soared on Friday, with U.S. futures closing out May with record monthly gains, on hopes that the U.S.-China trade deal would remain intact and on falling crude production.

Lupin Q4 results: Net profit rises 35% to Rs 390 crore

Consolidated income from operations of the company stood at Rs 3,791 crore for the quarter under consideration as against Rs 3,807.02 crore for the same period year ago.

Lupin Q4 net profit up 35% to Rs 390 cr on robust sales, lower tax expenses

In the current times, Lupin has been able to ensure business continuity while safeguarding the health and safety of its employees

Lupin Q4 results: Consolidated net profit rises 35% to Rs 390 cr; income from operations marginally down

Drug firm Lupin has reported a 34.55 percent rise in its consolidated net profit to Rs 389.63 crore for the quarter ended March 2020 mainly on account of robust sales in the domestic market and lower tax expenses

Lupin’s Q4 net profit rises 35 per cent 

Pharma major Lupin Ltd has reported 34.5 per cent rise in its consolidated net profit to Rs 389.6 crore for the January to March quarter (Q4 FY20) as compared to Rs 289.5 crore in the corresponding period of previous fiscal.

S&P 500, Nasdaq rally to close week higher as Trump’s actions against China seen not as disruptive as feared

Stock index benchmarks ended mostly higher Friday and booked sharp gains for the week and month, after a news conference from President Donald Trump on China...

US stocks end lower as China tensions end three-day Dow streak

NEW YORK: Wall Street stocks ended lower on Thursday (May 28) following a late-afternoon retreat on growing US-China tensions, as markets digested ...

Stocks Turn Positive After Trump Keeps Phase One China Trade Deal Intact

Trump took a more confrontational approach with China on Friday.

Softbank-backed Coupang under scrutiny after S.Korea warehouse virus outbreak

Softbank-backed Coupang under scrutiny after S.Korea warehouse virus outbreak

Softbank-backed Coupang under scrutiny after S.Korea warehouse virus outbreak

SEOUL (Reuters) - Deluged with online orders as the coronavirus epidemic swept South Korea, e-commerce giant Coupang opened a new groceries warehouse and logistics centre near Seoul in March, providing food and other essentials to shoppers sheltering at home.

Softbank-backed Coupang under scrutiny after South Korea warehouse virus outbreak

Deluged with online orders as the coronavirus epidemic swept South Korea, e-commerce giant Coupang opened a new groceries warehouse and logistics ...

Crude futures slip nearly 5% on demand concerns; gain 86.61% in May

In the futures market, crude oil for June delivery touched an intraday high of Rs 2,530 and an intraday low of Rs 2,450 per barrel on MCX.

Gold prices up as markets cautiously await Trump's response on HK

US gold futures rose 0.7 per cent to $1,739.60.

Google mulling stake in VIL positive but inadequate to solve telcos' debt woes: Analysts

Acquisition of a controlling stake by an outsider or a sizable equity infusion by current promoters remains the need of the hour, Credit Suisse said in its latest note.

Google's interest positive but may not help solve Voda Idea's debt woes

Acquisition of a controlling stake by an outsider or a sizable equity infusion by current promoters remains the need of the hour, Credit Suisse said in its latest note

No proposal from Google, says Vodafone Idea

Google's 5 per cent investment would not provide relief to Vodafone Idea: Report

Google's 5 per cent investment, even if it materialises, would be inadequate to solve debt problems at Vodafone Idea, according to a Credit Suisse report.“While Google's investment into VIL wo

EasyJet and Carnival poised to exit FTSE 100 as virus hammers travel firms

Avast, Homeserve, Ladbrokes owner GVC and Convatec have been earmarked as the most likely firms to move into the index.

EasyJet and Carnival poised to exit FTSE 100 as virus hammers travel firms

Avast, Homeserve, Ladbrokes owner GVC and Convatec have been earmarked as the most likely firms to move into the index.

EasyJet and Carnival poised to exit FTSE 100 as virus hammers travel firms

Avast, Homeserve, Ladbrokes owner GVC and Convatec have been earmarked as the most likely firms to move into the index.

With 'Main Street' in view, Fed weighs risks of job, productivity shocks

With 'Main Street' in view, Fed weighs risks of job, productivity shocks

With 'Main Street' in view, Fed weighs risks of job, productivity shocks

WASHINGTON (Reuters) - U.S. Federal Reserve officials have talked broadly about helping households and firms through the current economic crisis and quickly unleashed trillions of dollars in cash and credit guarantees to build a “bridge” to the post-pandemic world.

With 'Main Street' in view, Fed weighs risks of job, productivity shocks

U.S. Federal Reserve officials have talked broadly about helping households and firms through the current economic crisis and quickly unleashed ...

Covid-19 impact: India GDP growth slows to 3.1% in March quarter

Growth was 4.2% in the fiscal year through March 2020 as compared to 6.1% in FY19.The full impact of the lockdown on manufacturing and services will become more visible in the June quarter

GDP growth slows to 3.1% in Q4; fiscal deficit widens to 4.59% of GDP in 2019-20

Gross Domestic Product (GDP) 4th Quarter Data: The growth in GDP during 2019-20 is estimated at 4.2 per cent, slowing to an 11-year low, as compared to 6.1 per cent in 2018-19.

China cbank injects 670 bln yuan via reverse repos for week, rate unchanged

SHANGHAI — China’s central bank kept the interest rate on seven-day reverse repurchase agreements unchanged at 2.

PBOC injects CNY300 bln via reverse repos, rate unchanged

On Friday, the People’s Bank of China (PBOC) injected 300 billion yuan ($41.96 billion) into money markets, via seven-day reverse repo agreements, kee

What changed for the market while you were sleeping? Top 10 things to know

Trends on SGX Nifty indicate a gap down opening for the index in India with a 101 points loss.

Google could pick up stake in Vodafone Idea

A report in the Financial Times says Alphabet, Google’s parent company, is looking to buy 5 per cent stake in Vodafone's India business.

Vodafone Idea shares up by 30% amid reports of Google investment

Young’s says it expects ‘lower sales’ when customers return to pubs

The London-based pub company said it will not pay shareholders a dividend for the past year.

Young’s says it expects ‘lower sales’ when customers return to pubs

The London-based pub company said it will not pay shareholders a dividend for the past year.

Young’s says it expects ‘lower sales’ when customers return to pubs

The London-based pub company said it will not pay shareholders a dividend for the past year.

UK Sought 'New Entrants' in 5G Networks Amid Huawei Approval, US-China Trade Tensions - Downing Street

The news comes after unconfirmed reports in UK media cited anonymous sources in Whitehall, who said the government may phase out the Chinese tech giant's role in...

Samsung Exclusive Stores in India are now certified for safety by Suraksha

Every Samsung Exclusive Store in India is now Suraksha-certified to ensure consumer safety during the COVID-19 pandemic. Suraksha (meaning 'protection' in Hindi) is a public private initiative that a

Samsung Exclusive Stores in India are Now Suraksha-Certified for COVID-19 Pandemic - Gizchina.com

Samsung has now undergone Suraksha training program for its Exclusive Stores in India. This means that all stores will follow safety and hygiene guidelines.

The daily business briefing: May 29, 2020

Another 2.1 million Americans file unemployment claims, Trump signs an executive order targeting social media, and more

TJ Maxx, Marshalls, HomeGoods expect to reopen end of June

There is more progress on the road to reopening for T.J. Maxx, Marshalls, and HomeGoods.

TJ Maxx, Marshalls, HomeGoods to reopen all stores in next month

TJX Companies temporarily closed its 4,400 locations on March 19 and began to reopen them on May 2.

TJ Maxx, Marshalls, HomeGoods to reopen all stores in next month

TJX Companies temporarily closed its 4,400 locations on March 19 and began to reopen them on May 2.

TJ Maxx, Marshalls, HomeGoods expect to reopen end of June

TJX Companies, the stores' parent company, says it expects most of its stores to open by the end of June.

Trends in Covid-19 deaths: how the four nations of the UK compare

Deaths have fallen, but the pattern is not consistent.

Trends in Covid-19 deaths: how the four nations of the UK compare

Deaths have fallen, but the pattern is not consistent.

Trends in Covid-19 deaths: how the four nations of the UK compare

Deaths have fallen, but the pattern is not consistent.

SpiceXpress receives DGCA approval for drone trials

Post trials and approvals, the airline plans to use drones in delivery of essential supplies to remote areas, the company said in a release.

SpiceXpress: SpiceJet gets DGCA nod for drone trials

Low cost carrier SpiceJet has received formal approval from the Directorate General of Civil Aviation (DGCA) to conduct drone trials, the airline said on Friday.Post trials and approvals, SpiceXpress, the dedicated cargo arm of SpiceJet, plans to use drones to provide for a quicker, faster and a cost-effective delivery

SpiceJet gets DGCA approval to conduct drone trials, plans delivery of essentials in remote areas

A SpiceXpress-led consortium had submitted a proposal to the regulator for conducting experimental Beyond Visual Line of Sight (BVLOS) operations of remotely piloted aircraft in response to a DGCA notice inviting Expression of Interest.

SpiceJet Gets DGCA Approval To Conduct Drone Trials; To Be Used In Delivery Of Essential Supplies

Airline major SpiceJet plans to use drones for cost -effective delivery of medical, essential supplies and e-commerce. The airline company, the only one till now, has received approval from the Directorate General of Civil Aviation (DGCA) to conduct drone trials.

SpiceJet gets DGCA approval to conduct drone trials, will deliver essential goods in remote areas

Earlier this month, the Ministry of Civil Aviation granted exemptions to 13 consortia, to operate drones on an experimental basis.

Oil rises about 2% as higher US refinery rates offsets surprise crude build

US crude inventories rose 7.9 million barrels last week, exceeding expectations, due to a big increase in imports from Saudi Arabia, the Energy Information Administration (EIA) says

Green Dot To Launch Mobile Banking For US Immigrants

Welcome Technologies is partnering with Green Dot for the PODERCard, which will help U.S. Hispanic immigrants access digital banking services.

Mobile banking service for US immigrants launches

Welcome Technologies, an outfit that works to support immigrants to the US, has joined forces with Green Dot on a digital banking product.

The pandemic has tightened Putin's economic grip but spells trouble for the future

The coronavirus has allowed Vladimir Putin to expand the Russian state's involvement in its economy, but it creates some long-term issues.

The pandemic has tightened Putin's economic grip but spells trouble for the future

The coronavirus has allowed Vladimir Putin to expand the Russian state's involvement in its economy, but it creates some long-term issues.

The pandemic has tightened Putin's economic grip but spells trouble for the future

The coronavirus has allowed Vladimir Putin to expand the Russian state's involvement in its economy, but it creates some long-term issues.

Quarterly growth slides to 3.1 per cent, more pain feared

Worries centre around Covid surge, slow recovery

Fed chair warns of widening inequality as U.S. consumption dives

United States consumer spending plunges by a record 13.6% in April 2020

Nordstrom sales plunge nearly 40per cent on pandemic-led store closures

Upscale department store chain Nordstrom Inc on Thursday reported a nearly 40per cent slump in quarterly sales, as lockdowns to contain the ...

Wipro shares jump 7 per cent on new CEO appointment

Shares of Wipro on Friday closed nearly 7 per cent higher after the company announced the appointment of Capgemini Group veteran Thierry Delaporte as its CEO and MD, effective July 6.

Wipro shares gain nearly 4% on Thierry Delaporte’s appointment as CEO, MD of company

Shares of Wipro on Friday jumped nearly 4 percent after the company announced the appointment of Capgemini Group veteran Thierry Delaporte as its Chief Executive Officer and Managing Director, effective 6 July, 2020

Wipro shares up by nearly 4%, after appointment announcement of Capgemini exec, Thierry Delaporte

Wipro Shares Gain Over 2% On Appointment Of New CEO And Managing Director

Wipro shares gained more than 2 per cent on the BSE on the appointment of Capgemini executive Thierry Delaporte as new CEO and managing director.

Futures hit by Sino-US tensions at the end of strong month

U.S. stock futures dropped on Friday as investors braced for President Donald Trump's response to China's national security legislation for Hong ...

FY20 fiscal deficit widens to 4.59% of GDP, higher than budget aim of 3.8%

This would mean that the government will have limited space to provide economic relief to businesses and individuals hit by coronavirus crisis.In absolute terms, total receipts of the government were ₹17.5 lakh crore against the estimate of ₹19.31 lakh crore

Amid coronavirus outbreak India’s GDP growth slows to 3.1% in Jan-March quarter of FY20

Fiscal deficit widens to 4.6% of GDP in FY20 on poor revenue realisation

The deficit, which signifies the gap between government revenue and expenditure, is higher than the revised estimate of 3.8 per cent for the fiscal

India's Fiscal Deficit Widens To 4.59% Of GDP

India ended the year with a fiscal deficit of 4.59 per cent of gross domestic product, against the target of 3.8 per cent.

The world's largest marijuana company craters 22% as recreational pot demand sinks amid coronavirus pandemic (CGC)

Canopy Growth cratered as much as 22% on Friday after the company reported its fiscal fourth quarter earnings that missed analyst estimates. The...

Core sector output contracts 38% in April owing to stalled economic activity

In March, the output of the core sector that includes eight infrastructure sectors — coal, crude oil, natural gas, refinery products, fertiliser, steel, cement, and electricity — had contracted 9%.

Pandemic pain: Output of 8 core sectors contracts 38.1% in April

As expected, the lockdown wreaked havoc on the output of eight core industries in April, contracting 38.1 per cent for the month under review.The eight core industries — coal, crude oil, natural gas,

Lockdown effect: Core sector output crashes record 38.1% in April

Infra segment hurt the most as cement and steel output tank by more than 80 per cent

Top biz headlines: Corona warriors for markets, Jet gets 7 new EoIs, & more

Here are the top 10 headlines on Friday morning

Huawei's ambitions for Canada stalled by rift with China, security expert says

Huawei Technologies Co.'s push to become a leading supplier of 5G technology in Canada appears to be in jeopardy after the Chinese tech giant's CFO suffered a legal setback in a B.C. court, prompting an angry response from Beijing.

Huawei's ambitions for Canada stalled by rift with China, security expert says

TORONTO — Huawei Technologies Co.'s push to become a leading supplier of 5G technology in Canada appears to be in jeopardy after the Chinese tech giant's CFO suffered a legal setback in a B.C. court, prompting an angry response from Beijing.

Nissan settles dispute with Tamil Nadu over unpaid dues, damages; begins process to withdraw international arbitration: Report

The dispute arose after Nissan said Tamil Nadu hadn’t paid certain incentives under a 2008 agreement to set up a car plant in the southern state.

Nissan settles dispute with Tamil Nadu government over unpaid dues of Rs 5000 crore: Report

The Japanese auto major was to receive between Rs 1400 crore (USD 185 million) and Rs 1800 crore (USD 238 million) as per the settlement, said the report.

Dell beats revenue estimates as remote working lifts workstation demand

ROUND ROCK,Texas: Dell Technologies Inc beat analysts' estimates for quarterly revenue on Thursday (May 28), boosted by demand for its ...

Dell beats revenue estimates as remote working lifts workstation demand

Dell Technologies Inc beat analysts' estimates for quarterly revenue on Thursday, boosted by demand for its workstations from companies moving ...

China's Kunlun says U.S approves sale of Grindr to investor group

(Reuters) - Chinese gaming company Beijing Kunlun Tech Co Ltd said on Friday that a U.S. national security panel approved the $620 million sale of popular gay dating app Grindr to an investor group called San Vicente Acquisition LLC.

Investor group allowed to buy Grindr from Chinese firm for $620M

Chinese gaming company Beijing Kunlun Tech said on Friday that a US national security panel approved the $620 million sale of popular gay dating app Grindr to an investor group called San Vicente

China's Kunlun says U.S approves sale of Grindr to investor group

By Echo Wang (Reuters) - Chinese gaming company Beijing Kunlun Tech Co Ltd said on Friday that a U.S. national security panel approved the $620 million sale of popular gay dating app Grindr to an investor group called San Vicente Acquisition LLC. The panel, the Committee on Foreign Investment in the United States (CFIUS), ordered Kunlun last year to divest Grindr amid concerns regarding the safety of the personal data it handles, such as users' private messages and HIV status

Tile files EU complaint against Apple's alleged anticompetitive behavior

In a letter to the EU, Tile claims Apple is making it more difficult for competitors to survive.

Apple comes out swinging against Tile after EU complaint

Apple claims it’s just protecting users.

Tile is now accusing Apple of abusing its power in a letter to the EU

Tile has sent a letter to the EU arguing that Apple is abusing its power and making it harder for Tile customers to use its products.

Oil Posts Best Month Ever, Even As Rig Cuts Decline, Stockpiles Climb

Oil Posts Best Month Ever, Even As Rig Cuts Decline, Stockpiles Climb

Pier 1 Imports gets approval from a judge to liquidate its remaining stores

"This is not the outcome we hoped for when we began this process," the company's CEO said in a statement.

Pier 1 Imports gets approval from a judge to liquidate its remaining stores

"This is not the outcome we hoped for when we began this process," the company's CEO said in a statement.

Self-employed scheme extension leaves ‘vulnerable at risk’, says arts trade body

Caroline Norbury, Creative Industries Federation CEO, warned against a ‘cliff-edge’ end to support.

Self-employed scheme extension leaves ‘vulnerable at risk’, says arts trade body

Caroline Norbury, Creative Industries Federation CEO, warned against a ‘cliff-edge’ end to support.

Share Market Update: Sensex ends 233 points higher, Nifty at 9,580; Wipro, BPCL, ONGC, Indian Oil top gainers

Stock Market LIVE Updates:

India's forex reserves soar to record high of $490.04 billion

Foreign currency assets (FCA), a major component of the overall reserves, increased by $3.035 billion to $451.706 billion in the reporting week, Reserve Bank of India (RBI) data showed.

Forex reserves soar to record high of $490.04 billion

The country's foreign exchange reserves swelled by USD 3.005 billion to a lifetime high of USD 490.044 billion in the week to May 22, mainly on account of a rise in foreign currency assets, RBI data

Foreign Exchange Reserves Soar To Record High Of $490.04 Billion

The country's foreign exchange reserves swelled by $3.005 billion to a lifetime high of $490.044 billion in the week to May 22.

Forex reserves soar to lifetime high of $490 billion, shows RBI data

In the previous week, the reserves had increased by $1.726 billion to $487.04 billion.

US consumer spending plunged the most ever last month as savings spiked to a record high

A drop in spending could have a devastating effect on the US economy, as consumption is responsible for roughly two-thirds of gross domestic product.

Kylie Jenner, Responding To Forbes Report, Says She Never ‘Tried To Lie’

The 22-year-old cosmetics mogul is still worth $900 million.

Kylie Jenner denies Forbes' claim she's no longer a billionaire and peddled a 'web of lies' about her net worth

Kylie Jenner is speaking out after Forbes insisted she isn't really a billionaire after all and faked numbers about her net worth.

Kylie Jenner Responds To Forbes’ Claims That She Lied Her Way To Billionaire Status

After Forbes magazine announced that they were removing Kylie Jenner from their list of billionaires and stripped her of the title “World’s

Asian markets fall as new Chinese law puts Hong Kong’s future in doubt

Asian markets mostly fell in early trading Friday, ahead of a news conference by President Donald Trump regarding China.

Singapore top source of FDI in FY20 with investments worth $14.67 billion

According to experts, Singapore has been able to outpace Mauritius with its ease of doing business policies, simplified tax regime and a large number of private investors.

Singapore top FDI source for India in FY20 with $14.67 bn in investments

In the past two financial years, FDI from Singapore has surpassed that from Mauritius

Singapore top source of FDI in FY20 with investments worth $14.67 billion

In the last financial year, India attracted USD 14.67 billion in FDI from Singapore, whereas it was USD 8.24 billion from Mauritius, according to the data of the Department for Promotion of Industry and Internal Trade (DPIIT).

ED attaches Rs 385-cr asset of VVIP choppers case middleman Rajiv Saxena

It said the value of the properties attached is $50.90 million (Rs 385.44 crore) and a provisional order under the Prevention of Money Laundering Act (PMLA) has been issued

VVIP choppers case: ED attaches Rs 385 crore asset of middleman Rajiv Saxena

The ED had contended before the HC that Saxena withheld information very strategically and has not disclosed full and true facts which were within his knowledge, relating to the commission of the offence. The matter is expected to be heard next on June 3.

AgustaWestland case: ED attaches assets worth ₹385 cr of middleman Rajiv Saxena

An ED official said the attached assets includes villa in Palm Jumeirah, Dubai worth 20 million AED and balances in five Swiss bank accounts amounting to $45.55 million of Saxena

Gold price dips marginally to Rs 46,929, silver gains

The gold/silver ratio currently stands at 96.89 to 1, which means the amount of silver required to buy one ounce of gold.

Deloitte's call for Virgin emergency cash rejected as liquidity fears rise

The federal government has rejected at least one direct plea from Virgin Australia's administrator Deloitte for emergency funding, raising concerns it might fall into liquidation before new owners are found.

Deloitte's call for Virgin emergency cash rejected as liquidity fears rise

The federal government has rejected at least one direct plea from Virgin Australia's administrator Deloitte for emergency funding, raising concerns it might fall into liquidation before new owners are found.

Deloitte's call for Virgin emergency cash rejected as liquidity fears rise

The federal government has rejected at least one direct plea from Virgin Australia's administrator Deloitte for emergency funding, raising concerns it might fall into liquidation before new owners are found.

Master of the APL England cargo ship charged over container spill

The APL England has also been ordered to pay $22 million in clean-up costs before the ship will be released from the Port of Brisbane.

Master of the APL England cargo ship charged over container spill

The APL England has also been ordered to pay $22 million in clean-up costs before the ship will be released from the Port of Brisbane.

Master of the APL England cargo ship charged over container spill

The APL England has also been ordered to pay $22 million in clean-up costs before the ship will be released from the Port of Brisbane.

GDP growth at 3.1% in Q4 drags full year FY20 growth to 4.2 per cent

The govt has revised growth for the first three quarters of FY20 to 5.2% in Q1, 4.4% in Q2 and 4.1% in Q3.

Canada's economy shrinks 8.2% in Q1 2020

The drop in Canada's gross domestic product in the 1st quarter of 2020 is the sharpest since the 1st quarter of 2009

Wall Street stocks mixed amid US-China tensions

NEW YORK, May 29 — Wall Street stocks were mixed early today amid rising US-China tensions as data showed a big drop in consumption spending in April but a rise in income boosted by government aid. About 25 minutes into trading, the Dow Jones Industrial Average stood at 25,345.84, down 0.2 per...

European stocks fall on rising U.S.-China tensions

European stocks fell Friday, with investors ahead of a press conference by President Donald Trump over China, amid rising tensions between the countries,...

No decision taken on setting up bad bank: Finance Ministry official

Even the Economic Survey 2017 had proposed this idea, suggesting the creation of a bad bank called Public Sector Asset Rehabilitation Agency (PARA) to help tide over the problem of stressed assets.

No decision taken on setting up bad bank: Finance Minister official

The finance ministry on Friday said there is no decision taken on the proposal of setting up of a government-sponsored bad bank to help ease pressure on lenders with regard to non-performing assets

No decision taken on setting up bad bank: FinMin official

Last month, the government decided to put restriction on foreign direct investment (FDI) to clamp down on the investor from China to buy Indian companies cheap.

Peet's Coffee raises $2.5 billion in an IPO despite the coronavirus pandemic

Peet's Coffee raised $2.5 billion in its initial public offering, one of the largest this year despite the coronavirus pandemic.  The company an...

US major airlines roll out more options to avoid staff layoffs

The top three U.S. airlines, hit hard by the coronavirus pandemic, are rolling out fresh programs to induce tens of thousands of employees to ...

US major airlines roll out more options to avoid staff lay-offs

The top three U.S. airlines, hit hard by the coronavirus pandemic, are rolling out fresh programs to induce tens of thousands of employees to ...

Oil analysts see prices edging up but still capped below $40 a barrel: poll

The survey of 43 analysts forecast Brent crude would average $37.58 a barrel in 2020

Fed Chair Jerome Powell says the coronavirus recession has been a 'great increaser of income inequality' — with low-paid workers and women bearing the brunt of the fallout

The Fed chief singled out women and hourly workers in the service industries as the segment of the population weathering the brunt of the fallout.

Limited impact on Vedanta operations due to coronavirus lockdown: Crisil

Also, increase in export offset decline in domestic demand during the lockdown, supported by its low cost position in key businesses, it said.

Limited impact on Vedanta operations due to coronavirus lockdown: Crisil

 The COVID-19-induced lockdown has had a limited impact on the operations of Vedanta Ltd, rating agency Crisil has said. Also, increase in export offset decline in domestic demand during the

What's the cost of Covid lockdown? Today’s GDP data will give an idea

To be sure, Indias growth was already at a six-year-low during the pre-lockdown period.

'Global growth worries, US-China tensions likely to keep crude prices choppy'

We may see choppy trade however general bias may be on the downside on global growth worries and US-China tensions.

India had started to see green shoots before coronavirus hit us: FM Nirmala Sitharaman

Indian economy grew at 3.1% in the last quarter of FY 2019-20.

India's Q4 GDP growth falls to 3.1% - worst since 2009 global financial crisis

India's gross domestic product (GDP) growth in Q4FY20 is the lowest in 44 quarters, according to the data by Central Statistics Office (CSO)

Saudi Arabia Moved $40 Billion in Reserves to Sovereign Fund

Saudi Arabia transferred 150 billion riyals ($40 billion) from its central bank to its sovereign wealth fund as it went on an investment spree seeking to take advantage of recent market turmoil.

Saudi Arabia moved US$40 billion in reserves to sovereign fund

The move comes as the world’s largest crude exporter faces exceptional fiscal pressure from a crash in global oil markets.

UK helps employers with slow phase-in of job shield costs

British finance minister Rishi Sunak offered fresh help to employers hammered by the coronavirus shutdown on Friday in the form of a gradual phase-in of contributions from them to the government's costly wage subsidy scheme. The government has been paying 80% of the wages of some 8.4 million workers since…

Jan-March expansion at 40 quarter low of 3.1%, 2019-20 GDP growth at 11-year low of 4.2%

India Business News: The country’s economic growth in the January-March quarter of 2019-20 expanded at its slowest pace in 40 quarters at 3.1%, dragged down by the manufac

UPS adds 'peak' surcharge amid coronavirus fueled delivery spike

United Parcel Service Inc on May 31 will slap surcharges on U.S. e-commerce companies that have flooded its delivery network with shipments of ...

UPS adds 'peak' surcharge amid coronavirus-fueled delivery spike

United Parcel Service Inc on May 31 will slap surcharges on U.S. e-commerce companies that have flooded its delivery network with shipments of ...

US stocks rise after Trump sticks to script on China

Shares in New York gained 4.5 per cent in May, buoyed by signs the US economy is stirring after shutting down in April.

Top 5 Things to Know in the Market on Friday, May 29th

Top 5 Things to Know in the Market on Friday, May 29th

Pandemic job losses slow down

The pace of job losses is slowing but still extreme, setting the expectation that job loss will still be at a historic high next week.

Sensex, Nifty fall ahead of GDP numbers; Vodafone Idea jumps 14%

At around 9:30 am, BSE Sensex was trading 259.77 points lower at 31,940.82, while NSE Nifty was down 0.72 per cent at 9,422. By 9:35 am, Sensex was down over 320 points and Nifty was struggling to stay above 9,400. 

Sensex rises 224 points, Nifty ends above 9,500-mark lead by pharma, FMCG stocks

The S&P BSE Sensex rose 223.51 points (0.69 per cent) to settle at 32,424.10, while the Nifty 50 ended at 9,580.30, up 90.20 points (0.95 per cent).

US Turns Away Two Ships Carrying Iranian Fuel From Venezuela Under Sanctions Threat

Iran has been supplying petroleum products to Venezuela as the Latin American country is facing a severe shortage of gasoline and is struggling to procure it abroad...

US Stops Iranian Fuel Shipments to Venezuela

Trump admin promises to use its economic, diplomatic power to press for the restoration of Venezuelan democracy

In rescue effort, Fed has broad stake in corporate America's fortunes

In rescue effort, Fed has broad stake in corporate America's fortunes

Wall Street has billions to lose in China from rising strain

Five big US banks had a combined $70.8 billion of exposure to China in 2019.

Dell reports steady sales because of work-from-home trend

Dell Technologies Inc. reported quarterly revenue and profit that were better than projected on greater sales of personal computers to businesses with employees working from home, even while server demand waned.

Stocks - Wall Street Falls at Open on Profit-Taking; Trump China Briefing Eyed

Stocks - Wall Street Falls at Open on Profit-Taking; Trump China Briefing Eyed

12-year low — and Before Covid

2019-20 economic growth tumbles to 4.2%

Stocks rebound after Trump pulls his punches on China

S&P 500 ends higher after presidential press conference on Hong Kong security law

No Decision On Next Launch Attempt For Historic SpaceX Crewed Mission

A final decision on a launch attempt for SpaceX's milestone mission to the International Space Center on Saturday afternoon will take place after assessing the weather that morning, NASA chief Jim Bridenstine said Friday.

Top headlines: GDP growth slips to 3.1% in Q4FY20; 4.2% in 2019-20

Business Standard brings to you the top headlines of the day

Economy worst in decade

Statistics Canada says the economy in the first quarter had its worst showing since 2009 as steps taken to slow the spread of COVID-19 forced businesses across the country to close their doors and lay off workers.

United Airlines cutting 13 top jobs, adding int'l flights in July

United Airlines Holdings Inc said on Friday it will eliminate 13 officer positions even as it adds international flights back to its network, part of a restructuring to address the hit on its business from the coronavirus pandemic.

United Airlines cutting 13 top jobs, adding international flights in July

(Reuters) - United Airlines Holdings Inc (UAL.O) said on Friday it will eliminate 13 officer positions even as it adds international flights back to its network, part of a restructuring to address the hit on its business from the coronavirus pandemic.

Migrants To Get Cash In Hand, Government Has Not Ruled Out Poor: Sources

Government has not ruled out cash transfer to the poor or migrant workers and said it will look at giving cash handouts as the situation evolves.

Equities drop as Trump lines up China response

HONG KONG, May 29 — Equities mostly fell today after Donald Trump called a news conference for later in the day to outline his response to China’s plan to crack down on Hong Kong, which many fear could further increase tensions between the superpowers. The losses were being tempered, however,...

Coronavirus impact: Output in eight core industries declines 38% in April

All eight core sectors reported massive decline in production during April, with coronavirus-mandated lockdowns in place. Cement and steel reported the biggest losses in output at 86 per cent and 83.9 per cent, respectively

India’s core sector output witnesses biggest ever fall, contracts 38% in April as lowdown hits economy

India’s core sector output contracted 38.1% in the month of April, reflecting how India’s economy has taken a toll as the nation fights the coronavirus pandemic.

Asian Stocks Down as Investors Await Trump Action

Asian Stocks Down as Investors Await Trump Action

Gold price today: Rs 46,995 per 10 gram; silver at Rs 47,905 per kg

Gold price today: The price of 22-carat gold is about Rs 45,600 in New Delhi per 10 gram while in Chennai, the price is at Rs 44,310

Apple may postpone iPhone 12 launch to November due to coronavirus pandemic

The delay could be due to demand uncertainty owing to coronavirus pandemic

Gold prices jump today as investors seek safe-haven assets amid heightened US-China tensions

The gold prices on the MCX inched higher as overnight COMEX gold appreciated due to worsening economic data from the US and trade relations with China

Nikkei dented by US-China tensions, but scores best month since 2015

Japanese stocks retreated from three-month highs on Friday as escalating US-China tensions over Hong Kong prompted investors to lock in profits, but easing coronavirus restrictions helped Nikkei mark

Newmark Capital tipped as buyer of $120m David Jones store

Melbourne-based Newmark Capital has started the ball rolling in post COVID-19 retail property deals.

Newmark Capital tipped as buyer of $120m David Jones store

Melbourne-based Newmark Capital has started the ball rolling in post COVID-19 retail property deals.

Newmark Capital tipped as buyer of $120m David Jones store

Melbourne-based Newmark Capital has started the ball rolling in post COVID-19 retail property deals.

Trump administration to study ways to protect for U.S. investors from Chinese firms

WASHINGTON — The Trump administration will study ways to safeguard Americans from the risks of investing in Chinese companies, U.

Canada’s economy saw record decline in March, with worse numbers forecast for April

Statistics Canada says GDP fell 7.2 per cent in March; the agency is forecasting a decline of 11 per cent in April as COVID-19 lockdowns took hold

GDP: 3.1% for March quarter, 4.1% for year. But it is not due to coronavirus

GDP growth rate for March quarter slipped to 3.1% from 4.7% recorded during the previous quarter. The economy grew by 4.2% in 2019-20 for year. The coronavirus lockdown will have more impact in June quarter.

No Bombshells From Trump, FX Rally In Relief

Forex Analysis by Kathy Lien covering: AUD/USD, USD/CAD. Read Kathy Lien's latest article on Investing.com

Stocks tumble as Wall Street awaits Trump’s China salvo

US stocks tumbled Friday as Wall Street anxiously awaited for President Trump to announce his next economic salvo against China. The Dow Jones industrial average slid as much as 368.97 points, or 1.4

Month-End Profit-Taking Weighs On Equities As The Euro Pops Above $1.11

Forex Analysis by Marc Chandler covering: Nikkei 225, STOXX 600, USD/CNH. Read Marc Chandler's latest article on Investing.com

Month-End Profit-Taking Weighs On Equities As The Euro Pops Above $1.11

Equity markets in the Asia-Pacific region were mixed, with Japan, Hong Kong, Australia, and Taiwan seeing selling pressure. The Dow Jones Stoxx 600 is snapping

Stocks in focus: Vodafone Idea, RIL, Yes Bank, Voltas, Bank of India to remain in action

KEC, Lemon Tree, Equitas Holdings, Jubilant Life Sciences, Procter & Gamble Healthcare, Voltas, Dilip Buildcon and V-Mart Retail are among 31 companies which are scheduled to announce their March quarter earnings today.

Taking Stock: Volatile Friday! Nifty reclaims 9,500; Sensex rallies over 200 points

Sectorally, the S&P BSE Realty index gained 4.5 percent, BSE Oil & Gas index 3.4 percent and BSE FMCG index was up 2.8 percent.

Economy needs support from PSBs: Union Bank chief

Speaking at a webinar session organised by the BCCI, Rai said that there will be a shift of credit growth in favour of the PSBs, adding that depositors will expect an interest rate of 5.5 per cent.

Impact of Coronavirus (COVID-19) Lockdown Economy Needs Support From PSBs, Says Union Bank Chief

The country’s economy, which has been hit by the COVID-19 outbreak, needs support from the public sector banks (PSBs) to … Impact of Coronavirus (COVID-19) Lockdown Economy Needs Support From PSBs, Says Union Bank Chief Read More »

Economy needs the support of PSBs, says Union Bank chief

The country’s economy, which has been hit by the Covid-19 outbreak, needs support from the public sector banks (PSBs) to boost credit growth, said an official on Friday. The number of PSBs has come d

RIL, HDFC Bank send Sensex 300 points down; check what’s dragging markets today

Among top Sensex losers, Axis Bank was followed by IndusInd Bank, HDFC Bank, Kotak Mahindra Bank, Tata Steel and HDFC, down in the range of 2-3 per cent.

South Korea reports 58 new coronavirus cases

Rest of World News: Prime Minister Chung Sye-kyun called for officials to examine working conditions at warehouses of online shopping companies, which have seen orders su

Coronavirus crisis crippling debt-heavy Serta Simmons

The nation’s biggest mattress maker is in danger of becoming a coronavirus casualty this summer — and it’s the company’s private-equity owners that have made it vulnerable. Serta Simmons — a

GBP/USD Forecast: "Breakout above $1.2360 Would Open a Test of Resistance at $1.2465"

The GBP/USD exchange rate is quoted at 1.2309 ahead of the weekend, with analyst and technical forecaster Richard Perry of Hantec Markets saying the pair is looking increasingly constructive, even if only because of Dollar weakness

EUR/USD Forecast: Looking for a Fresh Chance to Buy

The EUR/USD exchange rate has finally cleared the 1.10 hurdle and is quoted at 1.1130 ahead of the weekend. Analyst and technical forecaster Richard Perry at Hantec Markets says he looks to now use an unwind within the pair's channel as a chance to buy

Gold Price Forecast: Move Above $1735 Resistance Required for Bulls to Grab Control Again

The spot gold price is quoted at $1725 ahead of the weekend, with analysts and technical forecaster Richard Perry of Hantec Markets lays out the key levels to consider for traders now the market is back at a crossroads

Instacart’s tip-baiting system is short-changing shoppers, senators say

Congress wants regulators to get involved.

US Senators Ask FTC To Crack Down On ‘Tip Bait’ On Instacart

Four U.S. senators are asking the Federal Trade Commission to look at possibly "misleading" and "unfair" tipping practices on Instacart and other services.

Senators ask FTC to investigate Instacart over 'tip baiting'

A group of US senators has called on the FTC to investigate Instacart and other grocery delivery services for allowing 'tip baiting' that stiffs couriers.

SoftBank leads $500 million fundraising for Didi's self-driving unit

BEIJING/SHANGHAI (Reuters) - China’s Didi Chuxing said on Friday it had completed a fundraising round of over $500 million for its autonomous driving subsidiary that was led by SoftBank Group’s (9984.T) Vision Fund 2.

SoftBank leads US$500 million fundraising for Didi's self-driving unit

China's Didi Chuxing said on Friday it had completed a fundraising round of over US$500 million for its autonomous driving subsidiary that was led ...

Fiscal deficit widens to 4.6% of GDP in 2019-20

As per CGA data, the FY20 fiscal deficit worked out to be 4.59% of the GDP, while the revenue deficit was 3.27%.

Super Saturday salute looms with WA hospitality players back in the game

WA's small bar and restaurant players can resume their bustling trade from June 6 along with clubs, pubs and hotels.

Super Saturday salute looms with WA hospitality players back in the game

WA's small bar and restaurant players can resume their bustling trade from June 6 along with clubs, pubs and hotels.

Super Saturday salute looms with WA hospitality players back in the game

WA's small bar and restaurant players can resume their bustling trade from June 6 along with clubs, pubs and hotels.

Q4 GDP growth 3.1%: Was a revival on?

Economy expanded at 4.2% in FY20, the lowest rate since FY09, dragged down by manufacturing, construction, investment.

Vodafone-Idea share price jumps 15%, Google mulls 5% stake buy in cash-strapped telco

Struggling telecommunications firm Vodafone-Idea saw its share price jump 15% in the initial few minutes of trade on Friday as investors reacted to the news of internet giant Google considering a 5% equity stake buy in the company.

Markets Weaken On Opening Session As Sensex Slips 247.86 Points, Nifty At 9438 Points

The stock market was pulled down as Infosys and Axis Bank slipped 2 per cent each respectively, while Vodafone Idea soared 10 per cent on news that Google is interested in buying a 5 per cent stake in the company.

India GDP Q4: At 4.2% GDP Growth Lowest in 11 Years But Better Than Expected | Explained in 10 Points

RBI Governor Shaktikanta Das said the economic growth in 2020-21 is likely to be in the negative territory as the "macroeconomic impact of the pandemic is turning out to be more severe than initially anticipated".

Asia-Pacific Stocks Decline As China Passes Resolution on Hong Kong Security Bill

On Wall Street, major stock indexes suffered losses in overnight trading on Thursday, while the US economy gradually reopens from the coronavirus-induced lockdown.

Financial Markets Continue To Rise Despite Dismal Employment Data

The April unemployment rate was 14.7 percent as jobless claims continue to roll in. Q1 GDP was down 5 percent. If consumer spending does not rebound, then the r

India Q4 GDP data to be out today: Brokerages expect growth to reflect COVID-19 pain

Lockdown that began in last seven days of March is expected to have taken a toll on economic growth; economy is likely to have entered a recessionary phase with some agencies even estimating a contraction of over 5 per cent in FY21

GDP data: Yet another huge knock for Modi govt's economic growth story

India's economic growth falls for a third successive year, fiscal deficit widens to 4.6%; agriculture and govt spending prevent further decline

Argentina knocks back new debt proposal but says talks progressing

BUENOS AIRES — Argentina knocked back a new debt restructuring proposal from key creditor groups on Thursday as insufficient, but said the offer showed progress was being made toward striking a deal.

Argentina knocks back new debt proposal but says talks progressing

BUENOS AIRES — Argentina knocked back a new debt restructuring proposal from key creditor groups on Thursday as insufficient, but said the offer showed progress was being made toward striking a deal.

Tower Delivers Solid First-half Performance

Kiwi insurer, Tower Limited (NZX / ASX: TWR), has today announced a half year profit of $14.9 million after tax, a $3 million improvement on the same period last year.

Tower delivers solid first-half performance

Kiwi insurer, Tower Limited (NZX / ASX: TWR), has today announced a half year profit of $14.9 million after tax, a $3 million improvement on the same period last year.

108 jobs on line in Tower proposal

Tower says it will aim to cut costs by $7.2 million per year which includes a proposal for 108 redundancies. The NZX-listed insurer announced the...

Oil Prices Rebound Nearly 90% In May For Best Month On Record

Prices increased by more than 5% on Friday.

Dow Jones Slumps as Cisco Acquires a Cloud Company, Home Depot Stock Moves Closer to 52-Week High

Cisco will reportedly pay $1 billion to expand its software portfolio, and Home Depot continues to rally.

Redcape Hotel to reopen pubs as restrictions taper off

Listed pub group Redcape says its primed to reopen its doors on Monday, with new-look properties and changes to how it serves customers in the post-pandemic era.

Redcape Hotel to reopen pubs as restrictions taper off

Listed pub group Redcape says its primed to reopen its doors on Monday, with new-look properties and changes to how it serves customers in the post-pandemic era.

Redcape Hotel to reopen pubs as restrictions taper off

Listed pub group Redcape says its primed to reopen its doors on Monday, with new-look properties and changes to how it serves customers in the post-pandemic era.

Q4FY20 GDP estimates out today: What's in store for India's economy

Economists and analysts indicated that the GDP figures released today will only offer an assessment of the early damage caused by Covid-19 outbreak. They also expect a sharp economic decline in upcoming quarters.

India ninth on global Covid-19 list, overtakes China on death count

India added 7,466 cases, a record number in a single day, according to data shared on Friday morning. China has confirmed 84,106 infections and 4,638 deaths from Covid-19 so far

Tyson Foods will shut U.S. pork plant as more workers catch COVID-19

CHICAGO (Reuters) - Tyson Foods Inc (TSN.N) said on Thursday it will temporarily close an Iowa pork plant due to the coronavirus pandemic, a month after U.S. President Donald Trump ordered slaughterhouses to stay open to protect the country’s food supply.

Tyson Foods to close Iowa pork plant amid coronavirus outbreak

Tyson Foods plans to temporarily close an Iowa pork plant where nearly a quarter of the workers have caught the novel coronavirus.

Tesla CEO Musk earns incentive payout worth $775 million in first tranche

The compensation plan, approved by shareholders in 2018, consists of 20.3 million stock option awards broken up into 12 tranches of 1.69 million shares

India GDP growth slows to 3.1% in Q4 as Covid-19 lockdown hits economy

In the services sector, growth in the hotels and financial services sectors fell to 2.6 per cent and 2.4 per cent in the fourth quarter

SoftBank Vision Fund head's pay doubled last year despite massive losses

SoftBank Vision Fund's head, Rajeev Misra, saw his total pay for the past business year more than double to roughly $15 million, even as the fund's under-performance pushed SoftBank to a record operating loss of some $13 billion.

FDI inflows surge 18% in 2019-20 to record $74 billion

India Business News: India’s FDI inflows, including reinvested earnings, rose 18% to a record $73.5 billion during 2019-20, buoyed by a spurt in inflows into computer hard

10 things you need to know before the opening bell

This is what traders are talking about.

These 10 Billionaires Got $34 Billion Richer This Week, Led By Luxury Goods Tycoon Bernard Arnault

The biggest billionaire gainers are in luxury goods, fashion and cosmetics.

Google may pick 5% stake in Vodafone Idea

Google is considering acquiring a stake in Vodafone Group Plc’s struggling Indian business, the Financial Times reported, joining Facebook in investing in the world’s fastest-growing mobile arena. Google may take a stake of about 5% in Vodafone Idea, though the deliberations are at a very early stage, the FT cited people familiar with the matter as saying.

What does Tesla slashing car prices really mean for the company?

Sales of all autos, generally, tanked in the last two months

Voda Idea jumps 35% on reports Google eyeing 5% stake in telco

For a 5 per cent stake, Google will have to shell out $110 million.

Forex - Dollar Drifts Lower in Tight Trading Ranges

Forex - Dollar Drifts Lower in Tight Trading Ranges

Laurentian Bank slashes dividend by 40 per cent as profits tumble

Decision to cut payout is the first by a Canadian bank in nearly 30 years

A new TikTok clone hit the top of the App Store by paying users to watch videos

That’s one way to get users...

Zynn is a TikTok clone that climbed the App Store ranks by paying users to watch videos

Zynn is a TikTok clone from a major competitor out of China, which pays users to watch videos, and has climbed in popularity in the App Store.

Coffee maker JDE Peet's shares pop 15% after $17 billion virtual IPO

AMSTERDAM (Reuters) - Shares in coffee maker JDE Peet’s surged 15% in their stock market debut on Friday as investors jumped on the only big European IPO launched during the coronavirus crisis.

Early warning: Growth slows to 3.1 per cent in Q4 which had just one week of lockdown

The March quarter estimates dragged the overall GDP growth rate for 2019-20 to an 11-year low of 4.2 per cent, the provisional estimate released by National Statistical Office (NSO) on Friday showed.

Streetwise newsletter: Best reads of the week

Here are the top reads on deals and financial services over the last week

US billionaires have increased their net worth by $485 billion during the last 10 weeks of the pandemic, report says

US billionaires added almost half a trillion dollars to their collective wealth during the past 10 weeks, a report by the Institute for Policy S...

As Australia opens back up for businesses, jobseekers are once again searching for roles in hospitality and other hard-hit sectors

The Australian job market has just undergone what will go down as its strangest few months on record, as businesses begin reopening their doors.

Chile jobless rate hits 9% during pandemic, highest in decade

Chile jobless rate hits 9% during pandemic, highest in decade

Here's the list of outperforming stocks rising most since lockdown

Eight leading promoter-controlled business houses have emerged as the new Corona warriors for the stock market

KEC International Q4 profit down 3% to Rs 193 crore

The global engineering, procurement and construction (EPC) major had clocked a profit of Rs 198.76 crore in January-March 2018-19, it said in a filing to BSE.

KEC International Q4 results: Net profit down 3% to Rs 193 crore

Revenue during the quarter declined to Rs 3,673.73 crore as against Rs 3,845.51 crore in the year-ago period.

Buy Federal Bank target of Rs 55: Anand Rathi

Anand Rathi is bullish on Federal Bank has recommended buy rating on the stock with a target price of Rs 55 in its research report dated May 29, 2020.

Buy Orient Cement target of Rs 65: Anand Rathi

Anand Rathi is bullish on Orient Cement has recommended buy rating on the stock with a target price of Rs 65 in its research report dated May 28, 2020.

Buy Aditya Birla Fashion and Retail target of Rs 137: Anand Rathi

Anand Rathi is bullish on Aditya Birla Fashion and Retail has recommended buy rating on the stock with a target price of Rs 137 in its research report dated May 28, 2020.

Kylie Jenner stripped of billionaire status as Forbes makes major U-turn

A huge U-turn.

Kylie Jenner slams Forbes after they strip her billionaire status

The reality star did not hold back.

Expect a big jump in the petrol price next week

In a dramatic reversal of April’s chaotic fuel market, fuel prices are set to climb in June, the Automobile Association (AA) says, citing unaudited month-end fuel price data released by the Central Energy Fund.

SA facing ‘hefty’ petrol price increase in June (plus diesel shortages)…

The Automobile Association says South Africa’s fuel prices are set to climb in June in a “dramatic reversal of April's chaotic fuel market”.

Big petrol price increase coming in June – AA

The AA has predicted that fuel prices will rise substantially in June.

Decision to open shops in malls soon after taking into account health ministry's guidelines

Issues of retail traders were discussed in a meeting between Commerce and Industry Minister Piyush Goyal on Thursday with representatives of traders associations through video conferencing.

When will shops in malls open? Commerce Ministry clarifies after Piyush Goyal meets traders

Issues of retail traders were discussed in a meeting between Commerce and Industry Minister Piyush Goyal on Thursday with representatives of traders associations through video conferencing.

U.S. Savings Rate Hits Record-High 33 Pct, But Spending Falls A Record 13.6 Pct

The consumer savings rate hit a historic 33 percent in April, as Americans hunkered down amid COVID-19, the U.S. Bureau of Economic Analysis announced.

China may buy less American farm products if U.S. issues severe HK response: sources

BEIJING/SINGAPORE (Reuters) - China may reduce its imports of agricultural products from the United States if Washington issues a severe response to Beijing’s push to impose national security laws on Hong Kong, three sources said.

GRAINS-Corn set for biggest weekly gain in more than 7 months

SYDNEY, May 29 (Reuters) - U.S. corn futures rose for a fifth consecutive session on Friday as concerns about adverse weather impacting crops pushed the grain towards its biggest weekly gain in more than seven months.FUNDAMENTALS* The most active corn futures on the Chicago Board Of Trade were up more than 3% for the week, heading for their biggest weekly gain since October 2019.* Corn was up 0.5% at $3.29 a bushel by 0106 GMT after rallying more than 2% on Thursday, when prices hit their highest since April 23 at $3.30-3/4 a bushel.

GRAINS-Corn extends gains, set for biggest weekly jump in 7 months

* Corn firms for fifth straight session* Wheat poised to finish the week up 1%* Soybeans on course for biggest weekly gain in two monthsBy Colin PackhamSYDNEY, May 29 (Reuters) - U.S. corn futures rose for a fifth consecutive session on Friday as concerns about adverse weather impacting crops and signs of increased demand pushed the grain towards its biggest weekly gain in more than seven months.Wheat was little changed but was on course to finish the week up 1%, while soybeans were poised to record their biggest weekly gain in two months.

Only 2 of YouTube's earliest employees are still at the company — here's what YouTube's first 10 employees are up to now (GOOG, GOOGL)

YouTube has come a long way since 2005. Back then, YouTube had only 10 employees, plus cofounders Chad Hurley and Steve Chen.

Only 2 of YouTube's earliest employees are still at the company — here's what YouTube's first 10 employees are up to now

YouTube has come a long way since 2005. Back then, YouTube had only 10 employees, plus cofounders Chad Hurley and Steve Chen.

Forbes just revoked Kylie Jenner's billionaire status, saying she's exaggerated her company's success for years. Take a look at how Jenner built her empire.

Forbes now alleges that Kylie Cosmetics has never made as much money as Kylie Jenner and her team claimed.

Vodafone Idea surges 35% on report Google eyeing 5% stake, trims gain later

The stock has been more-than-doubled from Rs 3.04 on April 1, as compared to a 13.4 per cent rise in the S&P BSE Sensex during the same period.

German regulator examines stock trades by Wirecard CEO

German regulator examines stock trades by Wirecard CEO

German regulator examines stock trades by Wirecard CEO

FRANKFURT (Reuters) - Germany’s market regulator said on Friday it was investigating whether Markus Braun, the CEO of payments firm Wirecard, had violated insider-trading rules by buying stock during the quiet period before publication of its annual report.

Q4 GDP data today: Why does the growth number matter to us?

Theoretically, the lockdown impacted the economy only in the last week of March. But, in reality much of the normal course of business had slowed down days before the nationwide lockdown came into effect. This is because people movement declined significantly much before the lockdown.

GDP growth slows to 3.1% in Q4 FY20 but is this the final estimate? Govt caveat leaves room for revision

Growth in the last quarter of FY 2020 has been the slowest since the global financial crisis more than a decade ago.

Powell: Fed to soon begin 'challenging' Main Street lending

Federal Reserve Chair Jerome Powell acknowledged Friday that the Fed faces a major challenge with the launch in the coming days of a program that will lend to companies other than banks for the first time since the Great Depression. The Fed's Main Street Lending is geared toward medium-sized companies

Markets buck global trend, march higher for third day

On Friday, the benchmark Nifty was up by 90.20 points or 0.95% to close at 9,580.3. The 30 share index Sensex was up by 223.51 or 0.69% to close at 32,424.1.

Fairfax Financial Holdings left behind amid market rebound

Fairfax is trading at a major discount on TSX as it struggles to recover from COVID-19 impact

India’s coronavirus death count tops China as new cases spike

India's reported cases of 165,799 infections is the ninth highest globally, according to data from Johns Hopkins University.The mortality rate from Covid-19 in India stood at 2.8% against world average of 6.2%

March quarter GDP growth to show drastic fall; brace for worse in Q1FY21 print

A note by ICICI Bank stated the country's March quarter GDP growth may come to 1.5 percent year-on-year (YoY).

Reality check for hot city fringe office markets

Vacancy in city fringe office markets is expected to almost double by the end of next year.

Reality check for hot city fringe office markets

Vacancy in city fringe office markets is expected to almost double by the end of next year.

Reality check for hot city fringe office markets

Vacancy in city fringe office markets is expected to almost double by the end of next year.

Private equity player Bain Capital in talks to up stake in Axis Bank

In 2017, the lender had approved and conducted a sale of 9 per cent stake to raise Rs 11,626 crore, in a round led by Bain Capital.

Forex Today: Dollar dives, decoupling from stumbling stocks ahead of Trump's Chinese announcement

Here is what you need to know on Friday, May 29: The US dollar remains on the back foot, with EUR/USD topping 1.11, despite a worsening market mood re

Govt unlikely to press for hike in GST rates for non-essentials next month

However it will have to find ways in which essential and non-essential items can be segregated

Friday’s analyst upgrades and downgrades

Inside the Market’s roundup of some of today’s key analyst actions

GDP for 2019-20 Q4 plummets to 3.1%, full year growth at 4.2%

Data suggests that India's GDP growth in FY2019-20 slowed down to an 11-year-low of 4.2 per cent.

GRAINS-Corn, soybeans slide on U.S.-China tensions

* Corn dips after four day climb, Midwest weather risks for wheat* Soybeans curbed by U.S.-China tensions after 2-week high (New throughout, changes byline, previous dateline PARIS/SYDNEY)By Christopher WalljasperCHICAGO, May 29 (Reuters) - U.S. corn and soybean futures fell on Friday as percolating U.S.-China trade tensions over Beijing's proposed restrictions on Hong Kong put a damper on the markets after a week of positive movement, with U.S. President Donald Trump expected to address the situation later on Friday.

GRAINS-Corn, soybeans slide on U.S.-China tensions

* Corn dips after four-day climb, Midwest weather risks for wheat* Soybeans curbed by U.S.-China tensions after two-week high (Updates closing prices)By Christopher WalljasperCHICAGO, May 29 (Reuters) - U.S. corn and soybean futures fell on Friday as escalating U.S.-China tensions over Beijing's proposed restrictions on Hong Kong dampened markets after a week of gains.Three sources told Reuters China may reduce U.S. agricultural imports if Washington issues a severe response to Beijing's push to impose national security laws on Hong Kong.

Saudi Arabia eyeing output cuts to last till end 2020

Oil prices fell Friday morning as traders price in concerns over the future of crude stocks, geopolitical tensions and fears over how COVID-19 will progress. Rystad Energy’s Head of Oil Markets Bjornar Tonhaugen said: “This is the last trading day for the Brent July futures contract, which seems to ease quietly into its recent comfort zone range of around $35 a barrel.

CEAT up 6% on 14% YoY growth in Q4 EBITDA, partial resumption of operations

The company has resumed operations at most of its factories with easing in lockdown restrictions, and is gradually witnessing pick up in demand as well, Kumar Subbiah, CFO of CEAT said

Trump Action Aside, China Crop-Buying Goal Is Becoming Untenable

Trump Action Aside, China Crop-Buying Goal Is Becoming Untenable

Indian economy grew at just 3.1% in January-March quarter, the slowest in 11 years

Output of eight core industries, meanwhile, declined by a whopping 38.1% in April, as against 9% in March.

Uber-Grubhub deal hinges on breakup fee after narrowing price gap

Uber Technologies Inc. and Grubhub Inc. are haggling over a breakup fee after nearing an agreement on a merger price, according to people familiar with the matter.

CULTIVATED: An inside look at Eaze — Cuts at Caliva — Dismal earnings for Canopy Growth

In this week's Cultivated, we take a close look at Eaze's financial projections, scoop cuts at Caliva, and more.

Agriculture, mining saved Indian economy in FY20, can it sustain COVID-19 assault?

The impact of COVID-19 on Indian economy is yet to unravel; the 2019-20 GDP estimates, thus, hide more than they reveal on the state of economy in 2020-21

Elon Musk gets a $770 million award as Tesla hits goals

He can't sell the shares yet, though.

Tesla: Elon Musk qualifies for $770 million compensation

May 29 (UPI) -- Tesla announced in its Thursday filing with the Securities and Exchange Commission that founder Elon Musk has qualified for a compensation package worth some $770 million after the company reached certain growth goals.

Canada GDP in April fell a record 11% as COVID-19 shutters economy

Gross domestic product in March fell by 7.2 percent from February, the most severe month-on-month plunge ever, although the decline was less than the 9 percent predicted by analysts. Statscan said the March and April decreases were likely the largest-ever consecutive monthly declines.

Workers to start getting part of furlough payments from their companies

Chancellor Rishi Sunak announced that the self-employment support scheme has also been extended.

Businesses to start paying towards furlough costs in August

A final self-employment coronavirus grant is to be made available and businesses must start paying towards the worker furlough scheme from August, the British Government has announced.

This telco stock has doubled in two months; eyes fresh highs

Bharti Infratel share price has doubled from its 52-week low of Rs 121 touched on March 19, 2020. However, the stock is still 22% lower from its 52-week high of Rs 295.75 registered on December 2 last year

Indian banks' asset quality pressure may last for at least 2 years: Fitch

Fitch estimates that the impact on impaired loan ratios could be anywhere between 200 to 600 basis points depending on the severity of stress and banks' individual risk exposures.

Some US asset managers are slashing fees on money market funds so their investors don't lose money because returns are so low

Asset management firms in the US are slashing fees charged on short-term debt funds as plunging interest rates and yields on US government debt ...

European stocks slide at open

European stock markets opened sharply lower Friday on simmering China-US tensions over Beijing's planned national security law for Hong Kong.

Rupee rises 7 paise against the US dollar; all eyes on GDP data

“For the day, we expect volatility for the rupee to be confined to a narrow range of 75.40 and 76.20,” MOSL said.

SpaceX Starship prototype explodes in engine test

The failure is not expected to have any impact on SpaceX's Crew Dragon launch plans this weekend.

Stock Market Wrap-Up: Yes, This Retail Stock Really Did Hit a Record High Friday

The overall market was mixed to finish the week, but even a hard-hit industry had a big winner.

FDI inflows from Cayman Islands into India triples in FY20

The Cayman Islands, which is close to Cuba and was ranked in the study as the most prominent centre for financial secrecy, hosts more than 100,000 companies, a number that outstrips the local population

FDI inflows from Caymans triple

FDI inflows from Singapore fell to $14.7 bn in FY20 from $16.2 bn in the previous year, but held on to its No.1 ranking

Elon Musk just cleared the first of 12 levels that end in a $55 billion payday. Here's how his elaborate Tesla compensation plan works.

Musk's compensation agreement with Tesla includes 12 "tranches" of stock options that become available only after certain goals are hit.

Vodafone Idea share price zooms 35% on report Google eyeing stake in telco

Share price of Vodafone Idea gained 35% to Rs 7.85 compared to the previous close of Rs 5.82 on BSE

Market Wrap: all the leasing and sales activities in and around Sydney

Leasing activity has been close to the city while key sales were recorded in Manly, Parramatta and Kings Park.

Market Wrap: all the leasing and sales activities in and around Sydney

Leasing activity has been close to the city while key sales were recorded in Manly, Parramatta and Kings Park.

Market Wrap: all the leasing and sales activities in and around Sydney

Leasing activity has been close to the city while key sales were recorded in Manly, Parramatta and Kings Park.

Vodafone-Idea clarifies on reports of Google seeking to buy equity stake, here’s why the stock fell 15%

Cash-strapped telecom major Vodafone-Idea has clarified that its Board is currently not considering any proposal for investment in the comping, a day after The Financial Times reported that internet giant Google could pick up a 5% equity stake in the firm.

Better Buy: Alibaba vs. Alphabet

These two technology giants are leaders in their respective markets. Discover what makes one a better investment choice.

SoftBank Vision Fund CEO Gets 113% Pay Raise Despite Massive Losses

The Vision Fund chief saw his salary more than double despite historic losses at the Japanese tech group.

Sainsbury's new boss Roberts faces unexpected in-tray

When Sainsbury's new boss Simon Roberts hosts a virtual focus group with supermarket shoppers on his first day in charge on Monday, the ...

Indian carriers in 'survival' mode, need sustainable revival: IATA CEO Alexandre de Juniac

Speaking at a webinar hosted by the aviation consultancy Centre for Asia Pacific Aviation (CAPA), de Juniac also forecast the air travel demand in India to drop by 47 percent and revenue by $11 billion this year over 2019 owing to the coronavirus pandemic.

Indian aviation sector in survival mode, needs viable revival: IATA CEO

He said it is particularly disappointing that the package of $123 billion in government financial aid that has been announced around the world, including $26 billion in the Asia Pacific region

Market watch: KSE-100 rises despite rupee depreciation

Benchm­ark index gains 235.81 points to settle at 33,931.23

Financials, tech hit by HK tensions, Trump attack

Financials, tech hit by HK tensions, Trump attack

Covid impact: Big tax shortfall raises Centre’s fiscal deficit to 4.6%

Spending kept at 99.5% of RE to support falling economy.

Einhorn’s Greenlight Hedge Funds Rebound With 7.4% Gain in May

David Einhorn’s hedge funds surged 7.4% in May as U.S. stocks rallied.

IIFL Finance March Quarter profit plunges 81% to Rs 59 crore

The company, which is mainly engaged in financing and investment business, had logged a profit of Rs 305.89 crore in January-March, 2018-19.

IDC: Hearables market on the rise, but smartwatch sales have declined in Q1 2020

Global shipments for wearables went up by 29.7% YoY with 72.6 million units shipped.

IDC: Hearables market sees growth, but smartwatch sales decline in Q1 2020

The first quarter of 2020 had the wearables market see a significant growth despite the ongoing Coronavirus pandemic. According to an IDC report, the hearables market has seen impressive growth during this time of crisis, while smartwatches and fitness trackers have seen a decline in sales. The hearables category includes all the headphones, earphones earbuds, …

Industry chorus: Package not much help, govt must do the heavy lifting

The survey was conducted after the latest round of easing, and the respondents included large companies, regional trade bodies, and also some small and medium enterprises across the manufacturing and services sectors.

Modi’s Rs 21 lakh cr package not enough; industry says govt needs to do this for companies to survive

Given the major disruptions caused by the coronavirus pandemic, the industry has asked for increased government spending, direct cash transfers to consumers, and deferment of taxes.

French economy shrank less than first thought in first quarter: INSEE

French economy shrank less than first thought in first quarter: INSEE

India's lockdown strictest; economic impact to be deeper than other countries: Jefferies

A US investment bank report says India's detection rates have also climbed lately and doubling rate has plateaued at ~13-day level; medical infra is now getting stretched in certain cities, with hospitals at 100 per cent plus capacity utilisation in Mumbai, says report

Developer offers tenants half-price rent at prime site

Rents are being cut in half in a new office development just south of Sydney's CBD.

Developer offers tenants half-price rent at prime site

Rents are being cut in half in a new office development just south of Sydney's CBD.

Developer offers tenants half-price rent at prime site

Rents are being cut in half in a new office development just south of Sydney's CBD.

Morgan Stanley not given advisory role on Aramco pipeline sale: Sources

The U.S. investment bank, which has previously advised the world's largest oil company, was originally looking to be part of the advisory group on any deal, the sources added.