Candles to light up Hong Kong on fraught Tiananmen anniversary

4/4 © Reuters. People attend a candlelight vigil ahead of the 31st anniversary of protests at Beijing’s Tiananmen Square, in Hong Kong 2/4 By Marius Zaharia and Ben Blanchard HONG KONG/TAIPEI (Reuters) – Many people in Hong Kong plan to commemorate the bloody 1989 crackdown by Chinese troops in and around Tiananmen Square (NYSE:) by […]

Read More

Qantas to boost domestic capacity to 15% of normal by end of June

© Reuters. FILE PHOTO: Qantas planes are seen at Kingsford Smith International Airport in Sydney SYDNEY (Reuters) – Qantas Airways Ltd (AX:) said on Thursday it would boost domestic capacity to 15% of pre-pandemic levels by the end of June, up from 5% now, as Australian states ease travel restrictions. The airline said more flights […]

Read More

Australia launches $470 million stimulus package for construction sector

2/2 © Reuters. FILE PHOTO: A tradesman uses a nail gun on the framework of a new house on the outskirts of Melbourne 2/2 By Colin Packham SYDNEY (Reuters) – Australia will give eligible residents A$25,000 ($17,323) to build or significantly renovate their homes, Prime Minister Scott Morrison said on Thursday, as Canberra moves to […]

Read More

From wagyu beef to melons, Japan’s $2.2 trillion virus rescue piques struggling firms

2/2 © Reuters. FILE PHOTO: Coronavirus disease (COVID-19) outbreak in Tokyo 2/2 By Tetsushi Kajimoto TOKYO (Reuters) – As the coronavirus jolts Japan, the government’s huge stimulus package has come under fire from hard-hit restaurant owners for channelling funds for items like wagyu beef, melons and tourism rather than accelerating help for firms with burning […]

Read More

Asian stocks set to extend gains as stimulus fans recovery hopes

© Reuters. An investor sits next to a stock quotation board at a brokerage office in Beijing By David Henry NEW YORK (Reuters) – Stronger appetite for riskier assets is set to lift Asian equities on Thursday, as government stimulus expectations support investor confidence in an economic recovery from the coronavirus. E-mini futures for the […]

Read More

Dow rallies for 3rd-straight day amid coronavirus woes, George Floyd protests

Protests are dividing the US, a bitter spat over Hong Kong is brewing, a pandemic continues to rage worldwide — and the stock market is surging. The Dow Jones industrial average soared 527.24 points on Wednesday, or more than 2 percent, to close at 26,269.89, as Wall Street continued to shrug off spectacular images of […]

Read More

Early Facebook staffers denounce Zuckerberg stance on Trump posts

© Reuters. Facebook CEO Zuckerberg testifies before House Energy and Commerce Committee hearing on Capitol Hill in Washington By Katie Paul SAN FRANCISCO (Reuters) – Nearly three dozen former employees from Facebook (NASDAQ:)’s early days on Wednesday blasted Chief Executive Mark Zuckerberg’s decision not to act against incendiary posts by U.S. President Donald Trump as […]

Read More

Debt relief for poorest countries could extend beyond 2020, G7 says

© Reuters. IMF and World Bank hold Annual Meetings in Washington By Andrea Shalal WASHINGTON (Reuters) – Group of Seven finance ministers on Wednesday said a debt relief initiative for the world’s poorest countries could be extended beyond the end of the year to help deal with economic fallout from the coronavirus pandemic. In a […]

Read More

ECB prepares more aid for virus-stricken euro zone

3/3 © Reuters. FILE PHOTO: European Central Bank (ECB) President Christine Lagarde gestures as she addresses a news conference on the outcome of the meeting of the Governing Council, in Frankfurt 2/3 By Balazs Koranyi and Francesco Canepa FRANKFURT (Reuters) – The European Central Bank is certain to give the ailing euro zone economy another […]

Read More

Investment bank Perella Weinberg Partners cutting staff by 7%: source

By Kanishka Singh (Reuters) – Boutique investment bank Perella Weinberg Partners is cutting about 7% of its workforce amid the coronavirus outbreak, a person familiar with the matter told Reuters on Wednesday. The move will see a staff reduction of about 40 employees and is part of a strategic review, according to the source who […]

Read More

Coty names Simona Cattaneo head of Kylie Cosmetics

Coty has tapped a new head of Kylie Cosmetics in the wake of explosive allegations that the unit’s 22-year-old founder, Kylie Jenner, has been lying about her sales in a desperate attempt to be named a billionaire. The parent of CoverGirl and OPI brands this week named Coty insider Simona Cattaneo to oversee Kylie Cosmetics’ […]

Read More

Zoominfo aims to price IPO above target in largest 2020 tech listing

Zoominfo Technologies is looking to price its initial public offering on Wednesday above its upwardly revised target range in what is set to be the largest US technology listing so far this year, people familiar with the matter said. A B2B data-seller, Zoominfo — not to be confused with Zoom Video Communications, the firm that […]

Read More

Brazil posts $3 billion FX inflow in May, first surplus since July last year

BRASILIA (Reuters) – Brazil posted a net foreign exchange inflow of $3.1 billion in May, central bank figures showed on Wednesday, its first net inflow since July last year. The figures showed a surplus of almost $4 billion from trade-related FX contracts and an outflow of $882 million from financial FX contracts, resulting in the […]

Read More

Projected Brazil interest rate floor of 2.25% not ‘written in stone’

By Jamie McGeever BRASILIA (Reuters) – A level of 2.25% for Brazil’s benchmark Selic interest rate is not “written in stone,” central bank economic policy director Fabio Kanczuk said on Wednesday, suggesting that policymakers may be prepared to cut rates more than they have previously indicated. At a Brazilian-American Chamber of Commerce online event, Kanczuk […]

Read More

Quibi asks top execs to take 10 percent pay cut as layoffs loom

Quibi, the new start-up from Hollywood mogul Jeffrey Katzenberg, is in cutting mode already. Just a month after it launched on April 6, the mobile streaming service is asking senior executives to take a 10-percent pay cut as coronavirus lockdowns have squelched demand for its short-form videos, which are aimed at people on the go. […]

Read More

U.S. House to vote on infrastructure funding plan in July

© Reuters. Police officers wearing face masks guard the U.S. Capitol Building in Washington By David Shepardson WASHINGTON (Reuters) – The U.S. House of Representatives plans to vote on a Democratic plan to boost infrastructure spending in early July that aims to fix crumbling roads and highways and reduce carbon pollution. On Wednesday, Democrats, who […]

Read More

IMF chief says some countries may need debt restructuring, not just freeze

WASHINGTON (Reuters) – Some of the world’s poorest countries and emerging market economies may need to restructure their debt in the future, the head of the International Monetary Fund said on Wednesday, adding that simply freezing debt payments might not suffice. IMF Managing Director Kristalina Georgieva said some emerging market countries that pursued prudent and […]

Read More

LVMH wants to renegotiate $16.2 billion Tiffany deal

LVMH Chief Executive Bernard Arnault is exploring ways to reopen negotiations on the French luxury goods giant’s $16.2 billion acquisition of jewelry chain Tiffany & Co, as US social unrest and the coronavirus pandemic weigh on the retail sector, people familiar with the matter said on Wednesday. LVMH agreed to acquire Tiffany in November, but […]

Read More

Uruguay consumer prices rose 0.57% in May: official statistics agency

MONTEVIDEO (Reuters) – Uruguay’s consumer price index rose 57% in May, the South American country’s official statistics agency said on Wednesday, bringing 12 month inflation to 11.05% Analysts polled by the central bank had expected a rise of 0.54% in May consumer prices. Disclaimer: Fusion Media would like to remind you that the data contained […]

Read More

Snapchat will no longer promote posts from President Trump

Snapchat is following Twitter’s lead in minimizing content from President Trump. The social network famous for its funny face filters and disappearing photos on Wednesday confirmed to The Post that it would no longer promote Trump’s content on its “Discover” page, which hosts curated content from prominent accounts. “We will not amplify voices who incite […]

Read More

Feds indict execs from chicken companies Pilgrim’s Pride, JBS USA for price-fixing

Federal authorities have indicted four officials from two chicken companies for allegedly fixing prices and rigging bids for broiler chickens across the United States, the Department of Justice said in a statement on Wednesday. The four executives include Jayson Penn, the president and CEO of Pilgrim’s Pride, which is mostly owned by JBS USA, as […]

Read More

Fed Flirting With Moral Hazard to Keep Markets Open, Dudley Says

© Bloomberg. William Dudley, former president of the Federal Reserve Bank of New York, speaks during a Bloomberg Television interview in New York, U.S., on Thursday, Dec. 20, 2018. Dudley said that the recent stock market slump was probably necessary for U.S. policy makers to achieve their goal of restraining the expansion. Photographer: Christopher Goodney/Bloomberg […]

Read More

AMC issues ‘going concern’ warning, Cinemark predicts woes until 2022

June 3, 2020 | 1:19pm | Updated June 3, 2020 | 1:19pm Two large movie theater owners issued dire warnings on Wednesday about their ability to bounce back from the coronavirus. AMC, the nation’s biggest cinema chain, said in a regulatory filing that there’s a “substantial doubt” about its ability to “continue as a going […]

Read More

New York regulators may punish Deutsche Bank over Epstein ties

The long and murky relationship between Jeffrey Epstein and Deutsche Bank has caught the attention of New York regulators. Months of investigation by the New York’s financial watchdog agency, the Department of Financial Services, may spur a punishment of the German lender for its decision to keep the famous sex criminal as a client years […]

Read More