Exclusive: Chinese-backed owners committed to British HQ for Imagination Tech
The Chinese-backed owners of Imagination Technologies told the British government on Friday the chip designer would remain headquartered in the United Kingdom and they would consult over any board changes.
GE aircraft leasing unit cancels 69 737 MAX orders
General Electric Co’s aircraft leasing subsidiary on Friday canceled 69 orders for Boeing Co’s grounded 737 MAX jets as it evaluates its order book during the coronavirus pandemic, the latest setback for the U.S. planemaker.
Chile’s LATAM Airlines to cancel 95% of scheduled flights in May
Chile’s LATAM Airlines , South America’s largest carrier, will cancel 95% of its scheduled flights in May, the company said on Friday, maintaining similar levels to its current operations due to the coronavirus crisis.
Global stocks race toward second weekly gain
Global stocks rallied on Friday on President Donald Trump’s plans to revive the coronavirus-hit U.S. economy and hopes of a potential drug to treat COVID-19, while the dollar fell amid a growing risk-on sentiment among investors.
Imagination Tech owner tells UK the company will remain in Britain
Private equity firm Canyon Bridge, the Chinese-backed owner of Imagination Technologies, told the British government it was committed to keeping the chip designer headquartered in the UK, confirming an earlier Reuters report.
Oil mixed as weak Chinese data, growing U.S. supplies offset Trump plan to ease lockdown
Oil prices were mixed on Friday, with weak Chinese economic figures and rapidly filling U.S. crude storage offsetting bullishness built on U.S. President Donald Trump’s outlines for the U.S. economy to emerge from the coronavirus shutdown.
NY Fed’s markets head says bank is trying to match ‘speed and the scale’ of pandemic
The Federal Reserve is moving as quickly as possible to set up new emergency lending facilities to support credit markets and the economy, and its efforts are already helping to stabilize short-term funding markets, said Daleep Singh, head of the marke…
World Bank, IMF face growing calls to widen debt relief for poor nations
The World Bank and International Monetary Fund should seek case-by-case solutions to ease debt burdens on middle-income countries hit by the coronavirus pandemic, key shareholders said on Friday, fueling calls to widen relief already provided to the po…
U.S. airlines sitting on $10 billion owed to consumers for canceled flights, lawmakers say
U.S. airlines are estimated to be sitting on more than $10 billion in travel vouchers that should have been cash refunds from canceled flights, a group of senators released on Friday.
Wall Street gains on Boeing, Trump’s restart plan
Wall Street bounced on Friday as Boeing said it would resume production of commercial jets, with investors also cheering President Donald Trump’s plan to reopen the economy and on hopes of a potential drug by Gilead Sciences to treat COVID-19.
