Asia shares edge ahead, eyes on BOJ easing
Asian shares inched higher on Monday ahead of a busy week for earnings and central bank meetings, with much chatter the Bank of Japan (BOJ) will announce more stimulus steps.
Asian shares inched higher on Monday ahead of a busy week for earnings and central bank meetings, with much chatter the Bank of Japan (BOJ) will announce more stimulus steps.
European planemaker Airbus issued a bleak assessment of the impact of the coronavirus crisis, telling the company's 135,000 employees to brace for potentially deeper job cuts and warning its survival is at stake without immediate action.
Starbucks on Monday said it has entered a strategic partnership with investment firm Sequoia Capital China that will see the two companies make strategic co-investments in China's technology sector.
An investor group that comprises investment firm Mudrick Capital Management LP and Daniel Loeb's hedge fund Third Point LLC plans to challenge a $600 million financing package that Neiman Marcus Group has lined up for its looming bankruptcy, and will push the U.S. department store operator to sell itself, people familiar with the matter said on Sunday.
The shuttering of the U.S. economy due to the coronavirus pandemic is a shock of historic proportions that will likely push the national unemployment rate to 16% or higher this month and require more stimulus to ensure a strong rebound, a White House economic adviser said on Sunday.
Oil prices fell on Monday on signs that worldwide oil storage is filling rapidly, raising concerns that production cuts will not be fast enough to catch up with the collapse in demand from the coronavirus pandemic.
Asian shares bounced on Monday as the Bank of Japan (BOJ) announced more stimulus steps to help cushion the economic impact of the coronavirus, while oil took another spill as the world ran short of space to store it all.
Two proxy advisers, Glass Lewis and Institutional Shareholder Services (ISS), have recommended that shareholders of Boeing Co vote against key board members of the planemaker to show objections to the company's handling of the 737 Max crisis.
Japan Airlines Co is discussing the possibility of securing financing totaling $2.8 billion from its lenders to cushion the financial blow of the coronavirus outbreak, public broadcaster NHK said on Saturday.
President Donald Trump on Friday threatened to block federal aid for the U.S. Postal Service unless it raises shipping rates for online companies like Amazon.com, prompting criticism that the move would hurt consumers relying more than usual on packages during the coronavirus outbreak.
Though Congress approved another $310 billion in PPP funding Thursday, it's unclear whether that's enough to cover everyone who didn't receive loans in the first round.
India plans to fast track the review of some investment proposals from neigbouring countries such as China following concerns new screening rules could hit plans of companies and investors, three sources told Reuters on Saturday.
Boeing Co has told the Brazilian planemaker Embraer that Embraer has not met conditions needed to complete a civil aerospace tie-up, meaning the $4.2 billion deal is off for the foreseeable future, two people familiar with the matter said.
Lion Point is a concentrated credit and equity hedge fund co-founded by former managers from Elliott Associates and Perry Capital.
Abu Dhabi's Etihad Airways said on Saturday it would extend its suspension of scheduled passenger flights until at least May 16 due to the coronavirus outbreak.