Volkswagen invests extra $200 million in U.S. battery company QuantumScape
Volkswagen is increasing its stake in U.S. company QuantumScape by up to $200 million to boost the development of solid-state battery technology that aims to increase the ranges of electric cars and shorten charging times, the German carmaker said http…
Cerberus vows no let up in push for change at Commerzbank
Cerberus will use “alternative paths” to force leadership change at Commerzbank if it continues to resist calls to reform, the activist investor said in a letter to Germany’s second-biggest bank seen by Reuters on Tuesday.
Fed’s Powell set to reiterate long U.S. economic recovery, call for more fiscal support
Federal Reserve Chair Jerome Powell on Tuesday begins the first of two days of testimony before U.S. lawmakers in which he will map out how the United States faces an uncertain, uneven and prolonged economic recovery from the novel coronavirus crisis t…
Fed bolsters credit market support with latest launch
The New York Federal Reserve’s planned launch on Tuesday of a bond-buying facility could help ease the potential stigma for companies of asking for help and create an important framework for what the central bank steps in to purchase, analysts and inve…
Oil prices rise on supply cuts, improving demand
Oil prices rose on Tuesday, with Brent crude rising above $40 a barrel, as the IEA increased its oil demand forecast for 2020 and as record supply cuts supported.
Stimulus splurge restarts stocks rally
The global stocks rally got back on track on Tuesday, with more support from the Federal Reserve and the Bank of Japan helping to end a bumpy few days for financial markets.
Exclusive: Tencent aims to become biggest shareholder of video streaming rival iQIYI – sources
Tencent Holdings Ltd aims to become the biggest shareholder in video streaming rival iQIYI Inc , said two people familiar with the matter, to lower costs and counter competition in a sector boosted by stay-at-home virus policies.
Oil prices edge higher as supply cut hopes outweigh coronavirus resurgence fears
Oil prices made marginal gains on Tuesday, reversing out of earlier losses, as hopes for further cuts in crude supplies took the sting out of concerns that a resurgence of new coronavirus infections around the world could hamper fuel demand.
SoftBank-backed ride-hailing firm Grab cuts staff to cope with virus impact
Southeast Asian ride-hailing and payments firm Grab said on Tuesday it would lay off more than 300 employees due to the impact of novel coronavirus, in the latest setback to major backer SoftBank Group Corp .
Global stocks jump on Fed support, easing second wave fears
Asian shares rallied and the dollar fell on Tuesday as risk appetite was bolstered by the formal start of the Federal Reserve’s corporate bond buying programme, and earlier worries about a second wave of coronavirus infections eased.
