Company news

Australia’s Westpac to pay $5.5 Million for 8,000 workers because of staff underpayment

Australia’s second-largest lender, Westpac Banking Corp. (WBC.AX), announced on Friday that it would pay AUD 8 Million ($5.5 Million) including interest to around 8,000 employees who have underpaid their long service leave entitlements ...
03.07.2020

Boeing sets the end of the 747 jumbo jets

On Thursday, Boeing Co (BA.N) announced that the company is pulling the plug on its hulking 747 jumbo jets, ending a half-century run for the twin-aisle pioneer. According to the aerospace company, the last 747 jumbo jets would roll out from ...
03.07.2020

European stocks open higher as Asian markets rebound on strong China data

European stocks traded higher earlier on Friday after strong factory data from China fuelled a rebound in Asian markets. However, investor optimism remained limited as the U.S. reported a record surge in new COVID-19 cases. The STOXX 600 gained ...
03.07.2020

Taiwan’s June exports may be down 3%, inflation -0.87%: Reuters poll

Taiwan's exports for June has been forecasted to have dropped by 3% in contrast to a year earlier, according to a median forecast of 13 analysts polled by Reuters. The results are based on the uncertainties of the COVID-19 pandemic as it continues ...
03.07.2020

Dollar steadies as U.S. coronavirus cases surge ahead of holiday

The dollar traded in a narrow range on Friday, lifted by safe-haven bid as the surge of new cases in the United States quelled risk appetite. The yuan steadied after China’s services sector rebounded and investors avoided bigger positions ...
03.07.2020

Aussie retail sales advance in May as economy resumes

May had seen Australian retail sales hitting a record level, official data showed on Friday. This followed after coronavirus-related lockdowns were lifted, allowing the entire sector to reopen and recover from a historic drop monitored in April. The ...
03.07.2020

Asian shares reach four-month high on recovering U.S, China economies

Asian shares recorded a four-month high on Friday backed by strong payrolls data and an upbeat recovery monitored in China’s services sector. However, an increase in coronavirus cases in the United States restricted further risk-taking. MSCI’s ...
03.07.2020

Oil prices fall as new virus cases weigh on demand recovery

Oil prices fell on Friday, losing earlier gains, as the surge of new coronavirus cases in the United States raised concerns about fuel demand recovery.  Brent crude futures lost 0.7%, or 29 cents, at $42.85 per barrel. U.S. West Texas ...
03.07.2020

Tesla to help CureVac in molecule printer production to develop a potential COVID-19 vaccine

Tesla Inc will be manufacturing mobile molecule printers in an attempt to aid Germany’s biotech firm CureVac in developing a potential COVID-19 vaccine, according to a tweet by the electric-car maker’s CEO Elon Musk on Wednesday. CureVac ...
02.07.2020

U.S. stock futures gain ahead of critical jobs report for June

U.S. stock index futures rose on Thursday, ahead of the much-awaited jobs report that could signal further evidence of an economic rebound in June. However, gains remained limited by the record surge in daily COVID-19 cases. Dow e-minis gained ...
02.07.2020

McDonald’s halts U.S. resumption of dine-in services for 21 days

On Wednesday, McDonald’s Corp (MCD.N) said that it plans to pause the reopening of all dine-in services in its U.S. restaurants for the next 21 days as the coronavirus outbreak flares up in areas across the country. The fast-food chain ...
02.07.2020

Novartis agrees to pay $729 Million U.S. settlement over kickbacks

Swiss pharmaceutical giant Novartis AG (NVS) has agreed to pay more than $729 Million to settle a lawsuit that accused the company of paying illegal kickbacks to doctors and patients to increase drug sales, the U.S. Department of Justice said ...
02.07.2020

Dollar drops to one-week lows

The dollar fell to a one-week low on Thursday as positive data on U.S. and European recovery lifted risk appetite, adding to the support provided by the latest breakthrough in the COVID-19 vaccine. The dollar index dropped 0.4%. However, it ...
02.07.2020

Oil rises on sharp drop in crude inventories

Oil prices bounced on Thursday as a steep decline in oil inventories outweighed concerns that a surge in new coronavirus cases in the U.S. could stall demand recovery. Brent crude futures rose 0.6%, or 25 cents, at $42.28 per barrel. U.S. West ...
02.07.2020

Asian stocks jump on vaccine optimism, U.S. payrolls eyed

Asian shares tracked Wall Street higher on Thursday. This followed even though sentiment was dull ahead of U.S. employment data.  Meanwhile, copper prices recorded six-month highs on a bright global outlook and supply concerns in top producer ...
02.07.2020

U.S. employment surge expected in June, masks fragile labor market

The U.S. economy likely boosted employment at record levels in June as more bars and restaurants resumed operations. Though this would indicate that the virus-driven recession was probably over, an upsurge in new coronavirus cases threatens ...
02.07.2020

Japan's June factory activity contracts for 14th straight month

Japan’s factory activity for June contracted for its 14th straight month amid sharp reductions in supply and demand, according to data from a business survey released on Wednesday. Japan is one of many export-reliant nations that have ...
01.07.2020

Asian shares mixed as gloomy data casts doubt on recovery hopes

Asian stocks were mixed on Wednesday, while safe-haven assets such as gold and the Japanese Yen remained steady as the surge in COVID-19 cases in the United States dampened recovery hopes from stronger-than-expected factory activity in China. The ...
01.07.2020

European shares kick off the new quarter with subdued gains

On Wednesday, European stocks rose at the start of a new quarter as investors monitored the economic data which could signal the extent of a potential economic recovery as countries emerge from lockdown measures. However, the surging coronavirus ...
01.07.2020

Ryanair's CEO warns to cut 3,500 jobs if pay cuts cannot be agreed

On Wednesday, Ryanair's (RYA.I) Chief Executive Officer Michael Kevin O'Leary announced that around 3,500 jobs would be slashed at the airline unless it could agree on a series of pay cuts with staff. The warning came after the company resumed ...
01.07.2020
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