More than 300 lawmakers urge IMF, World Bank to cancel poor countries’ debt
Over 300 lawmakers from around the world on Wednesday urged the International Monetary Fund and World Bank to cancel the debt of the poorest countries in response to the coronavirus pandemic, and to boost funding to avert a global economic meltdown.
Intel Capital invests in Chinese chip companies amid tech tensions
Intel Capital, the venture arm of chipmaker Intel Corp , has invested in two Chinese startups in the semiconductor sector, the company announced on Wednesday, as part of its latest batch of deals.
Mitsubishi halves SpaceJet development budget, reconsiders U.S. variant
Mitsubishi Heavy Industries said it was halving the annual development budget for Japan’s first regional jet in half a century, the M90 SpaceJet, as the coronavirus pandemic squeezes profits.
South Korea shoppers line up before dawn ahead of expected Chanel price hike
More than a hundred shoppers waited in line to enter a store of French luxury brand Chanel in Seoul on Wednesday, as they rushed to buy products in the hope of beating price increases expected to kick in later in the week.
Stocks fall on renewed virus fears, Powell speech in focus
Stocks and oil prices fell on Wednesday as fears about a second wave of coronavirus infections gripped financial markets.
Las Vegas Sands ends plans to open Japan integrated resort casino project
Las Vegas Sands said in a statement on Wednesday it has ended its plans to open an integrated resort (IR) casino in Japan.
Contact tracing, temperature checks and masks: airline industry outlines new norms
Airlines and airports are recommending a layered approach to temporary safety measures as air travel restarts, warning that no single measure can mitigate all of the risks during the pandemic, according to a briefing document seen by Reuters.
Musk, Texas governor talk about potential Tesla move to Lone Star state
Texas Governor Greg Abbott said on Tuesday that he spoke with Elon Musk, the chief executive of Tesla Inc , in recent days about a potential move of the company’s electric vehicle assembly plant to the Lone Star state.
Occidental offering voluntary job buyouts, citing need for spending cuts: document
Occidental Petroleum Corp is offering its employees voluntary buyouts over the next two weeks, according to a document seen by Reuters on Tuesday, citing the sharp decline in oil prices and the coronavirus pandemic for “severe dislocations” in its bus…
Exclusive: Neiman Marcus creditor calls for deal with Saks Fifth Avenue – letter
Hedge fund Mudrick Capital Management LP asked Neiman Marcus Group’s independent directors on Tuesday to explore a combination with rival department store chain Saks Fifth Avenue, challenging the company’s plan to reorganize under bankruptcy protection…
