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Updated: 9 min ago

Trump threatens to shutter social media companies after Twitter warning

Wed, 05/27/2020 - 17:52
U.S. President Donald Trump on Wednesday threatened to regulate or shut down social media companies, one day after Twitter Inc for the first time added a warning to some of his tweets prompting readers to fact check the president's claims.

"Repair and Prepare": EU unveils 750 billion euro plan for coronavirus recovery

Wed, 05/27/2020 - 17:24
The European Commission unveiled on Wednesday a plan to borrow on the market and then disburse to EU countries 750 billion euros in grants and loans to help them recover from their coronavirus slump, giving an immediate boost to the euro .

Private jet demand rises as wealthy Russians spend lockdown in West

Wed, 05/27/2020 - 17:23
Some private jet companies have seen a rise in demand from wealthy Russians who want to spend time in the West during the coronavirus crisis but who were unable to take commercial flights amid tight restrictions by airlines and governments.

Gold dips to two-week low on growing recovery hopes

Wed, 05/27/2020 - 17:15
Gold dropped to its lowest in two-weeks on Wednesday as hopes of quick economic recovery drove investors towards riskier assets, while U.S.-China tensions over Hong Kong put a floor under bullion prices.

Global stocks, euro rise on massive EU stimulus plan

Wed, 05/27/2020 - 17:14
World shares surged on Wednesday as reports of a European Union rescue fund helped offset concerns about unrest in Hong Kong over Beijing's proposed national security laws.

Why U.S. energy CEOs will get big payouts despite oil meltdown

Wed, 05/27/2020 - 16:44
National Oilwell Varco Inc (NOV) has had a rough few years: Since 2017, the Houston company, whose drilling equipment is in major oilfields worldwide, has lost two-thirds of its value, costing shareholders a combined $9 billion.

Saint-Gobain sells Sika stake, formally ending bitter takeover battle

Wed, 05/27/2020 - 16:43
Saint-Gobain has sold its stake in Swiss construction chemicals maker Sika, the French company said on Wednesday, netting it 1.54 billion euros ($1.69 billion) and formally ending one of Europe's most bitter takeover battles.

Japan approves fresh $1.1 trillion stimulus to combat pandemic pain

Wed, 05/27/2020 - 16:37
Japanese Prime Minister Shinzo Abe's cabinet approved on Wednesday a new $1.1 trillion stimulus package that includes significant direct spending, to stop the coronavirus pandemic pushing the world's third-largest economy deeper into recession.

Factbox: Key spending in Japan's second stimulus package of $1.1 trillion

Wed, 05/27/2020 - 16:37
Japan's cabinet approved on Wednesday a fresh stimulus package worth $1.1 trillion, among the world's largest fiscal plans to cushion the economic blow from the coronavirus pandemic.

From boom to bottom: Renault and Nissan bet on deeper cooperation

Wed, 05/27/2020 - 16:31
The Franco-Japanese automaking alliance of Renault SA , Nissan Motor Co and Mitsubishi Motors is banking on a new recovery plan, set to be announced later on Wednesday, to salvage profitability.

Factbox: Renault and Nissan's plan to rebuild their alliance

Wed, 05/27/2020 - 16:31
The automaking alliance of Renault SA, Nissan Motor Co and Mitsubishi Motors Corp outlined a new strategy on Wednesday whereby the strongest partner takes the lead in areas such as new technologies and parts procurement.

Exclusive: Google faces antitrust case in India over payments app - sources

Wed, 05/27/2020 - 16:10
India's antitrust body is looking into allegations that Alphabet Inc's Google is abusing its market position to unfairly promote its mobile payments app in the country, five sources familiar with the case told Reuters.

Sensex, Nifty jump over 3% as banks surge on bargain hunting

Wed, 05/27/2020 - 16:03
Indian shares closed over 3% higher on Wednesday as value investors stepped in to buy beaten-down banking stocks, while Axis Bank surged after a report said private equity group Carlyle was in discussions with the lender for a fund infusion.

UK lockdown drives fastest growth in grocery sales for over 25 years

Wed, 05/27/2020 - 15:25
UK grocery sales grew at the fastest rate since comparable records began in 1994 as Britons adapted their behaviour in the national lockdown, industry data showed on Wednesday.

Hong Kong lines up MSCI derivatives launch amid doubts on city's future

Wed, 05/27/2020 - 15:16
Hong Kong's exchange is launching derivatives with index provider MSCI in a deal that hurts rival Singapore and boosts its global appeal amid U.S. warnings that Chinese pressure on the city’s autonomy threatens its future as a financial hub.

Hugo Boss sees recovery in third quarter at earliest

Wed, 05/27/2020 - 14:54
Hugo Boss expects a recovery in its business in the third quarter at the earliest due to store closures and consumer caution during the coronavirus pandemic, the chief executive of German fashion house said on Wednesday.

Oil falls on U.S.-China tensions over Hong Kong

Wed, 05/27/2020 - 14:47
Oil prices fell on Wednesday after U.S. president Donald Trump said he was working on a strong response to China's proposed security law in Hong Kong.

Warner Music kicks off $1.8 billion Nasdaq IPO

Tue, 05/26/2020 - 18:42
Warner Music Group said on Tuesday it is aiming to sell up to $1.82 billion in stock in its U.S. initial public offering, potentially the largest New York IPO so far in 2020 as the market for new stocks rebounds after the COVID-19 pandemic put many debuts on hold.

Uber cuts 600 jobs in India as lockdown hits business

Tue, 05/26/2020 - 18:42
Uber Technologies Inc has cut about 600 jobs in India as part of plans to reduce its global workforce by 23%, the company said on Tuesday, joining local rival Ola as the COVID-19 pandemic crushes demand for app-based cab services.

New wave of locusts raises fear for summer crops in India

Tue, 05/26/2020 - 18:13
A new wave of locust attacks has alarmed India's farmers and experts warn of extensive crop losses if authorities fail to curb fast-spreading swarms by June when monsoon rains spur rice, cane, corn, cotton and soybean sowing.