LONDON (Reuters) – World stocks bounced off their lows on Friday on hopes of more central bank stimulus and government spending, but were still set for their worst week since the 2008 financial crisis, with coronavirus panic-selling hitting nearly every asset class. European stock markets rose on hopes of a coordinated stimulus package from world governments after several sessions of […]
Read moreSINGAPORE – The Monetary Authority of Singapore said on Friday (March 13) that it “stands ready to ensure the orderly functioning of financial markets and the stability of the financial system in Singapore” as the coronavirus crisis deepens worldwide. It assured that the Singapore dollar money market and foreign exchange market are currently “functioning normally in the face of heightened […]
Read moreTOKYO (Reuters) – Oil prices were set for their worst weekly drubbing since the 2008 financial crisis, despite rising over 3% on Friday, as investors fretted over evaporating demand from the coronavirus pandemic and a production ramp-up by top producers. Brent crude LCOc1 was up $1.12, or 3.4%, at $34.33 a barrel by 0728 GMT after falling more than 7% […]
Read moreBENGALURU (REUTERS) – Wirecard said on Thursday (March 12) that auditing firm KPMG did not find any discrepancies in its audit of the company’s operations in India and Singapore as well as the Merchant Cash Advance and Digital Lending division. The largely completed special investigation has “not produced any substantial findings” that would require any correction to the company’s annual […]
Read moreSINGAPORE (Reuters) – Asia’s stock markets crashed on Friday as panic gripping world financial markets deepened, and even haven assets such as gold and bonds were ditched to cover losses in the wipeout. Japan’s Nikkei .N225 was in freefall, dropping 10% and heading for its worst week since the 2008 financial crisis. Not one stock on the index is in […]
Read moreSEOUL (Reuters) – Days after photos of broken windows and smashed china hit the newsstands revealing a Christmas Day family squabble in the home of Korean Air’s late patriarch, an activist fund received an unsolicited offer to help unseat the current chairman. Heather Cho, eldest daughter of the founding family’s late patriarch, made the proposal to Korea Corporate Governance Improvement […]
Read moreNEW YORK (Reuters) – Crushing asset sell-offs ranging from bitcoin to precious metals and European stocks accompanied Wall Street’s slide into bear market territory on Thursday, as investors liquidated positions across their portfolios to raise cash. Bitcoin BTC=BTSP dropped 26%, marking its largest fall in seven years, as fears of the coronavirus’ economic impact unnerved investors. Palladium and platinum – […]
Read moreCHICAGO (Reuters) – United Airlines Holdings Inc (UAL.O) said on Thursday it will continue to fly its regular schedule from Europe to the United States through March 19 but is scaling back flights after that date. United said it is continuing to monitor travel demand, which has fallen sharply as the coronavirus spreads globally and is expected to decline even […]
Read more(Reuters) – For three years, U.S. President Donald Trump has touted a stunning run-up in the stock market as evidence of his success in the White House. In the space of three weeks, most of those gains have evaporated. As the coronavirus pandemic spreads fear of a recession, the stock market’s rise under the Republican president since he was first […]
Read moreWASHINGTON (Reuters) – Europe’s Airbus (AIR.PA) on Thursday welcomed a move by Washington state to remove what it called “illegal subsidies” to Boeing (BA.N), but said the U.S. planemaker had received billions of dollars in other subsidies and tax breaks. The Washington state Senate voted on Thursday to remove an aerospace tax break for Boeing that had been contested by […]
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