Asian shares tick up, eyes on China-U.S. trade relations

SYDNEY (Reuters) – Asian shares started cautiously on Monday as central bank largesse globally boosted sentiment but rising trade tensions between the world’s two biggest economies dulled risk appetite. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.1% with South Korea, Australia and New Zealand all starting higher. Japan’s Nikkei jumped 1.5% after the Nikkei newspaper reported the country […]

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Credit Suisse CEO expects mid-term headcount reduction in post-Covid adjustment

ZURICH (REUTERS) – Credit Suisse expects to get by with fewer staff in coming years as automation kicks off, chief executive Thomas Gottstein told Swiss newspaper NZZ, and as the bank positions itself toward more digital interactions and remote working in the post-Covid-19 world. “Medium-term, we will certainly be able to get by with fewer staff – primarily, as we […]

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United Airlines CEO Kirby's annual base salary lower than predecessor

(Reuters) – United Airlines Holdings Inc said on Friday it would pay Chief Executive Officer Scott Kirby an annual base salary of $1 million, lower than what prior head Oscar Munoz received. The compensation committee also approved an annual base salary of $775,000 for President Brett Hart, less than what Kirby got in the role, the company said in a […]

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Wall Street mixed as China-U.S. tensions weigh

(Reuters) – Wall Street was mixed on Friday in a mostly tame finish to a week of strong gains, as investors gauged China-U.S. tensions and amid ongoing uncertainty about the pace of economic recovery from the coronavirus. President Donald Trump’s warning on Thursday that the U.S. would react strongly to China’s plan for a national security law in Hong Kong […]

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U.S. senators urge Delta, JetBlue to restore employee hours

(Reuters) – A group of U.S. senators is urging Delta Air Lines Inc and JetBlue Airways Corp to immediately reverse their decisions to reduce employees’ hours, calling them contrary to the requirements of taxpayer-funded payroll assistance. Delta and JetBlue have already received a portion of $25 billion in CARES Act money meant to protect airline workers’ jobs and pay rates […]

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Take Five: Coronavirus vaccine race is on

(Reuters) – 1/VACCINE RACE U.S. President Donald Trump has put his faith in anti-malarial drug hydroxychloroquine to ward off COVID-19, but governments and investors are focusing on a vaccine. Without one, it’s unlikely economic activity can resume fully. So the race is on, and the rewards are rich: AstraZeneca (AZN.L) has vaulted into the position of the most valuable British […]

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Exclusive: BP's Looney halves top management roles in energy transition plan

LONDON (Reuters) – BP (BP.L) is more than halving the size of its senior management team as part of Chief Executive Bernard Looney’s drive to make the 111-year-old oil company more nimble as it prepares for the shift to low-carbon energy. Company sources told Reuters that the appointments mean BP will be cutting its leadership positions to about 120 from […]

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Wall Street set for muted open on simmering U.S.-China tensions

(Reuters) – U.S. stock indexes were set for a near-flat open on Friday as investors weighed hopes of more stimulus to revive an ailing economy against simmering Sino-U.S. trade tensions. China on Friday unveiled details about its plan to impose a national security law in Hong Kong that could see mainland intelligence agencies set up bases in the global financial […]

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Futures retreat as Sino-U.S. tensions simmer

(Reuters) – U.S. stock index futures retreated on Friday as growing tensions between Washington and Beijing added to fears of a slower recovery from a coronavirus-led recession. China moved on Friday to impose a national-security law in Hong Kong that could see mainland intelligence agencies set up bases in the global financial hub, raising fears of more pro-democracy protests. The […]

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Futures retreat as Sino-U.S. tensions simmer

(Reuters) – U.S. stock index futures retreated on Friday as growing tensions between Washington and Beijing added to fears of a slower recovery from a coronavirus-led recession. China moved on Friday to impose a national-security law in Hong Kong that could see mainland intelligence agencies set up bases in the global financial hub, raising fears of more pro-democracy protests. The […]

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