JPMorgan reaches agreement to increase stake in China mutual fund venture to 100%
JPMorgan has reached agreement with its Chinese partner to increase its stake in its Chinese mutual fund venture to 100%, joining BlackRock and Neuberger Berman to grow its presence in the world’s second biggest economy.
‘Mom & Pop’ firms worry they will be squeezed out of small business coronavirus aid
Family-owned restaurants fear they could be pitted against larger competitors, hotel chains and potentially investment funds in a race starting on Friday for a $349 billion pot of money the U.S. government will offer businesses hard-hit by coronavirus….
Luckin Coffee’s journey from hot startup to $5billion share wipeout
Here is a timeline of the Nasdaq-listed Luckin Coffee Inc’s journey from a hot Chinese start-up to U.S. IPO and now an investigation for alleged fraud.
Futures dip ahead of payrolls, business activity data
U.S. stock index futures fell on Friday, with investors awaiting data on non-farm payrolls and business activity to assess the extent of the economic hit from the coronavirus.
U.S. dairy farmers dump milk as pandemic upends food markets
Dairy farmer Jason Leedle felt his stomach churn when he got the call on Tuesday evening.
Exclusive: Airbus weighs sharp cut in single-aisle jet output – sources
Airbus is studying a sharp cut in production of its single-aisle A320, its biggest-selling family of jets, to accommodate industrial and delivery problems triggered by the coronavirus crisis, three people familiar with the matter said.
Fiat Chrysler starts ventilator component output in Italy
Fiat Chrysler (FCA) has begun producing ventilator parts to help Italy’s Siare Engineering boost its output of the medical equipment needed to treat patients during the coronavirus crisis, the carmaker said on Friday.
H&M sees second-quarter loss, plans cost cuts as pandemic slams sales in March
Sweden’s H&M , the world’s second-biggest clothing retailer, said on Friday it expected a loss in the second quarter after reporting a 46% plunge in March sales as the coronavirus pandemic took a toll on the retail sector.
Why sweetened layoff benefits may be at odds with U.S. loan program
The generous U.S. unemployment benefits rolled out to blunt the economic harm caused by the coronavirus could have an unintended effect: it may actually be an incentive for companies to choose layoffs rather than keep staff on their books.
H&M sees second-quarter loss as pandemic slams sales in March
H&M , the world’s second-biggest clothing retailer, said on Friday it expected a loss in the second quarter after reporting a 46% plunge in March sales as the coronavirus pandemic took a toll on the retail sector.
