Oil down on stronger dollar, oversupply concerns
Oil prices fell on Tuesday weighed down by a stronger dollar and oversupply concerns after it was announced that a trio of Gulf producers would end voluntary output cuts.
S&P revises Japan’s outlook to stable
S&P Global Ratings said it has revised Japan’s outlook to stable on increased uncertainty around debt stabilization.
Household spending plunge pulls down euro zone GDP in first quarter
A plunge in household spending and investment pulled down euro zone gross domestic product in the first quarter as the COVID-19 pandemic struck, but the fall was slightly smaller than first estimated, the European Union’s statistics office said.
Europe turns red as bulls run out of charge
Soaring stocks stalled on Tuesday and high-flying currencies such as the euro and Australian dollar lost altitude, as a weeks-long risk rally hit turbulence.
U.S. failed to properly oversee Chinese telecom carriers: Senate panel
A U.S. Senate report released Tuesday says the U.S. government failed to properly oversee Chinese-owned telecommunications companies for nearly two decades.
Hong Kong government to lead $5 billion rescue package for Cathay Pacific
Cathay Pacific Airways Ltd revealed on Tuesday the Hong Kong government will lead a recapitalisation plan worth HK$39 billion ($5 billion) to help it through the coronavirus pandemic, the latest public rescue for a troubled airline.
Japanese traders gird for Fed to anchor yields, clip dollar’s wings
Japanese investors have clipped the wings of a resurgent U.S. dollar as they position for the likelihood that the U.S. Federal Reserve will take steps to flatten the Treasury yield curve.
Exclusive: Banks to Berlin – Loosen coronavirus cash rules for firms
Germany’s bank lobby is set to urge the government to drop some of the conditions attached to a trillion euro rescue scheme, arguing that companies are so reluctant to take the help that it threatens any recovery from the coronavirus outbreak.
Hong Kong government says does not intend to hold Cathay Pacific stake long-term
Hong Kong’s government does not intend to hold a stake in Cathay Pacific Airways Ltd long term after leading a rescue package to help it through the coronavirus pandemic, Finance Secretary Paul Chan said on Tuesday.
Oil prices climb as easing of lockdowns fuels hopes for recovery in fuel demand
Oil prices rose on Tuesday, boosted by hopes for a swift recovery in fuel demand as coronavirus lockdown measures are eased across the globe, but gains were capped by the spectre of persistent oversupply in the market.
