Tech firms sweeten deals for U.S. banks cutting costs in crisis
Top technology services firms are offering payment deferrals, discounts of up to 20% and other sweeteners to some U.S. banks to keep their business as the pandemic forces Wall Street to cut tech budgets, according to executives involved in the talks.
Brent at one-month high, U.S. oil tops $31 as restrictions ease
Oil prices climbed more than $2 a barrel on Monday, with benchmark Brent hitting a one-month high and U.S. crude topping $30 supported by optimism about the re-opening of economies and output cuts by major producers.
Panasonic sees strong demand from Tesla, in talks to expand Nevada battery plant
Panasonic Corp’s finance chief said the company is seeing strong demand for battery cells from U.S. partner Tesla and they are in talks to expand their joint plant in Nevada, which is now profitable.
Thyssenkrupp steel workers open to consolidation talks – labor boss
Thyssenkrupp’s powerful labor representatives are open to consolidation talks in the steel sector, a leading union official told Reuters on Monday.
A California cafe reopens with a payroll loan, but the future unclear
Chris and Amy Hillyard opened their Oakland, California restaurant late last month for the first time since mid-March, thanks in large part to a government loan aimed at tiding over small firms during the worst of the coronavirus crisis.
SoftBank’s Vision Fund tumbles to $18 billion loss in ‘valley of coronavirus’
Japan’s SoftBank Group Corp reported a stunning $18 billion loss at its giant Vision Fund, pushing Masayoshi Son’s conglomerate to a record loss and highlighting the deepening crisis at its portfolio companies from the global downturn.
Huawei calls U.S. move to curb chips supply ‘arbitrary’, expects business impact
Huawei Technologies in its first official response to the Trump administration’s move to curb its access to global chip supplies called it “arbitrary” and said its business would be impacted.
Brent at one-month high, U.S. oil tops $30 as restrictions ease
Oil prices climbed by more than $1 a barrel on Monday, with benchmark Brent hitting a one-month high and U.S. crude topping $30 supported by optimism about the re-opening of economies and output cuts by major producers.
Britain, U.S. hopeful trade talks can proceed at pace: London
Britain and the United States are hopeful that negotiations for a trade agreement can proceed at an accelerated pace, Britain’s department for trade said on Monday in an update on the talks after the first round concluded last week.
European shares rise on economic awakening; oil and gold jump
European stock markets rose on Monday and oil prices climbed to their highest in more than a month as a loosening of coronavirus shutdowns boosted market sentiment, even as the deadly outbreak has yet to be fully contained.
