HONG KONG/LONDON (Reuters) – Standard Chartered PLC (STAN.L) on Wednesday said it expects its main markets to lead global economic recovery from the COVID-19 crisis as early as later this year, striking an optimistic note after increased bad loan provisions squashed quarterly profit. FILE PHOTO: A logo of Standard Chartered is displayed at its main
Business
The New York Stock Exchange (NYSE) is seen in the financial district of lower Manhattan during the outbreak of the coronavirus disease (COVID-19) in New York City, U.S., April 26, 2020. REUTERS/Jeenah Moon NEW YORK (Reuters) – Wall Street’s major indexes lost ground on Tuesday as investors moved out of market-leading growth stocks, though a
LONDON (Reuters) – BP’s (BP.L) first-quarter profit tumbled by two thirds and its debt climbed to its highest in at least five years as the coronavirus crisis hammered oil demand, but the energy major kept its dividend despite warning of exceptional uncertainty. FILE PHOTO: The logo of BP is seen at a petrol station in
FRANKFURT (Reuters) – German carmaking giant Volkswagen (VOWG_p.DE) resumed production at its biggest factory on Monday as part of a broader industry drive to get back to work in Europe, where the coronavirus pandemic has hammered demand and pushed up inventory levels. Encouraged by a fall in infection rates, Germany has eased lockdown rules and
FILE PHOTO: A banner reding “Condor we love flying” is seen next to a check-in counter of airline Condor at the airport in Frankfurt, Germany, September 24, 2019. REUTERS/Kai Pfaffenbach BERLIN (Reuters) – The German government and the federal state of Hesse have agreed to provide Condor with loans worth 550 million euros ($596.31 million),
FILE PHOTO: A person in a mask walks on a nearly empty street in the coronavirus outbreak near the Treasury Department in Washington, U.S. March 30, 2020. REUTERS/Jonathan Ernst WASHINGTON (Reuters) – The U.S. government will cap how much each bank can lend under the emergency loan program designed to keep workers on payrolls amid
(Reuters) – The magnitude of how damaged the energy industry is came into full view on April 20 when the benchmark price of U.S. oil futures CLc1, which had never dropped below $10 a barrel in its nearly 40-year history, plunged to a previously unthinkable minus $38 a barrel. FILE PHOTO: An oil pump jack
(Reuters) – In the race to develop a vaccine to end the COVID-19 pandemic, governments, charities and Big Pharma firms are sinking billions of dollars into bets with extraordinarily low odds of success. FILE PHOTO: Small bottles labbeled with a “Vaccine COVID-19” sticker and a medical syringe are seen in this illustration taken taken April
FILE PHOTO: An employee of Japan Airlines (JAL), wearing protective mask following an outbreak of the coronavirus disease (COVID-19), is pictured at Kansai International Airport in Osaka, Japan, March 14, 2020. REUTERS/Edgard Garrido/File Photo TOKYO (Reuters) – Japan Airlines Co (9201.T) is discussing the possibility of securing financing totaling $2.8 billion from its lenders to
FILE PHOTO: KLM airline airplanes are seen parked, as Schiphol Airport reduces its flights due to the coronavirus disease (COVID-19) outbreak, in Amsterdam, Netherlands April 2, 2020. REUTERS/Piroschka van de Wouw AMSTERDAM (Reuters) – KLM, the Dutch subsidiary of Air France KLM (AIRF.PA), will receive 2-4 billion euros (up to $4.32 billion) in emergency aid
FILE PHOTO: Children’s Burberry clothes are seen on display at the Nordstrom flagship store during a media preview in New York, U.S., October 21, 2019. REUTERS/Shannon Stapleton/File Photo LONDON (Reuters) – British luxury brand Burberry (BRBY.L) will continue to pay its employees who are unable to fulfil their roles because of store or site closures
FILE PHOTO: The logo of Honda is seen during the 87th International Motor Show at Palexpo in Geneva, Switzerland March 8, 2017. REUTERS/Arnd Wiegmann WASHINGTON (Reuters) – Honda Motor Co (7267.T) said Thursday it will extend a shutdown of all of its North American auto plants through May 8 and extend unpaid leaves for many
(Reuters) – Zoom Video Communications Inc (ZM.O) said on Wednesday it was upgrading the encryption features on its video conferencing app to quell safety concerns as its users surged by 50% in the past three weeks. Zoom now has over 300 million daily users after adding 100 million in the last 22 days, the company
FILE PHOTO: Automobiles are shown for sale at a car dealership in Carlsbad, California, U.S. May 2, 2016. REUTERS/Mike Blake/File Photo (Reuters) – Auto retail sales in the United States are beginning to recover from a massive slump in March due to the outbreak of the coronavirus and nationwide stay-at-home orders, according to analysts at
TOKYO (Reuters) – Asian share markets were on the defensive on Wednesday as the floor fell out from under crude prices, sparking worries about further turmoil in the energy sector, already reeling from the heavy blow from global shutdowns. FILE PHOTO: People are seen on a pedestrian overpass with an electronic board showing the Shanghai
(Reuters) – Wall Street tumbled for a second straight day on Tuesday as a collapse in U.S. oil prices and glum forecasts by companies foreshadowed the worst economic slump since the Great Depression. The Wall Street sign is pictured at the New York Stock exchange (NYSE) in the Manhattan borough of New York City, New