SoftBank shares jump 20% on record buyback announcement
SoftBank Group Corp stock jumped 20% on Tuesday, extending a run that began a day earlier when the Japanese tech investor announced up to $41 billion in asset sales and a record share buyback to shore up its collapsing share price.
Coronavirus shockwave rocks airplane manufacturers, suppliers
The pandemic is taking its toll on aerospace manufacturing, with Boeing Co saying it would halt production of most widebody jets and Airbus SE restarting only partial output after a four-day shutdown as suppliers cut jobs.
House Democrats would give airlines, contractors $40 billion bailout
Democratic U.S. lawmakers on Monday proposed giving struggling U.S. airlines and contractors $40 billion in cash grants that would not have to be paid back but require significant new environmental, labor and other conditions.
Mnuchin: Negotiators ‘very close’ to deal on coronavirus stimulus
U.S. Treasury Secretary Steven Mnuchin said on Monday that Republican and Democratic senators and Trump administration negotiators were nearing a deal on a coronavirus stimulus bill.
Asia stocks rally, Fed launches limitless QE against economic reality
Asian stocks rallied on Tuesday as the U.S. Federal Reserve’s sweeping pledge to spend whatever it took to stabilize the financial system eased debt market pressures, even if it could not offset the immediate economic hit of the coronavirus.
Dollar near three-year peak amid mad cash scramble
The dollar eased on Tuesday but remained near a three-year high against a basket of currencies as investors sought the world’s main funding and settlement currency ahead of a sharp anticipated fall in cashflow.
Fast food closures sweep U.K., as even drive-thrus deemed unsafe
McDonald’s Corp, Yum! Brands Inc’s KFC fried chicken chain, Coca-Cola Co unit Costa Coffee and Subway sandwich shops were among restaurants that shuttered all locations in the United Kingdom and Ireland by the end of Monday to help slow the spread of t…
Crude oil futures rise, but support seen weak
U.S. crude oil futures climbed nearly 3% on Tuesday in light trading as the Trump administration launched an effort to work with Saudi Arabia to stabilise oil prices.
Neiman Marcus in bankruptcy talks with lenders: Bloomberg Law
Luxury retailer Neiman Marcus Group Inc is in talks with lenders to file for bankruptcy as it struggles to ease its $4.3 billion debt load, Bloomberg reported on Monday, citing people familiar with the matter.
As coronavirus fuels meat demand, processors raise pay for North American farmers, workers
North American meat processors said on Monday they would pay extra money to farmers and slaughterhouse workers as the companies scramble to meet surging demand from consumers unnerved by the spread of the new coronavirus.
