Global remittances could fall by $100 billion in 2020, says Citi
Slower economic growth expectations prompted Citi on Monday to slash its forecasts for global remittances, saying this raised the risk to credit ratings of smaller emerging market countries and was set to push up their borrowing costs.
Nissan sees cost of quitting Barcelona at up to $1.7 billion, source says
Nissan Motor Co has estimated the closure of its plants in Barcelona could cost up to around 1.5 billion euros ($1.7 billion), a union source told Reuters on Monday.
Fiat Chrysler to list robot-making business after PSA merger
Fiat Chrysler (FCA) said it planned to list robot making business, giving more detail on Monday about the future of Turin-based Comau, which it already planned to spin off.
Wall St. rises as recovery hopes offset U.S. protests, China tensions
U.S. stocks edged higher on Monday on prospects of a post-pandemic economic recovery, but the sentiment remained fragile amid protests across the country over race and an ongoing standoff between Washington and Beijing.
Embraer says China, India are potential partners after failed Boeing deal
Brazil’s Embraer SA said on Monday that China and India could be potential new partners, following a Reuters report last week that said those two countries as well as Russia were interested in the planemaker’s commercial jets division.
Pfizer declines about 8% after setback to breast cancer treatment
Shares of Pfizer Inc fell nearly 8% on Monday after an independent data monitoring committee determined the drugmaker’s breast cancer treatment was unlikely to meet the main goal of a late-stage study.
World equities edge higher despite U.S.-China tensions
World stock markets hovered near three-month highs and safe-haven government bonds inched lower as risk appetite grew on signs that the global economic downturn has bottomed, despite worries over violent protests in the United States and unease over Wa…
Construction spending falls less than expected
U.S. construction spending fell less than expected in April even as other sectors of the economy buckle under the COVID-19 crisis.
U.S. manufacturing activity pulls off 11-year low: ISM
U.S. manufacturing activity eased off an 11-year low in May, the strongest sign yet that the worst of the economic downturn was behind as businesses reopen, though the recovery from the COVID-19 crisis could take years because of high unemployment.
Nasdaq keeps Philadelphia trading floor closed due to protests
Nasdaq Inc said it postponed Monday’s planned reopening of its PHLX options trading floor in Philadelphia, which had been closed because of the coronavirus pandemic, due to the demonstrations over the death of a black man, George Floyd, in police custo…
