Asian shares climb as US earnings to test optimism July 13, 2020 Asian shares climbed toward five-month peaks today as investors wagered the US earnings season would see most companies beat forecasts given expectations had been lowered so far by coronavirus lockdowns. MSCI’s broadest index of Asia-Pacific shares outside Japan added one per cent, having climbed sharply last week on the back of surging Chinese stocks, which [...]
US coronavirus cases rise by record 60,565 in single day July 10, 2020 The US reported at least 60,565 new coronavirus cases on Thursday, a new record increase and the second day in a row infections have risen by at least 60,000, according to a Reuters tally. For a third day in a row, US coronavirus deaths climbed by more than 800, the highest levels seen since early [...]
Business interruption is big unknown for insurers, says Bank of England July 8, 2020 The biggest uncertainty now facing insurers is whether they will have to pay for a raft of business interruption claims, the Bank of England has said, ahead of a court ruling on the matter this month. The court will decide whether existing policies should cover the big losses caused by the coronavirus crisis. Anna Sweeney, [...]
Huawei says US sanctions have no immediate impact on UK 5G supplies July 8, 2020 US sanctions targeting China’s Huawei have had no immediate impact on its ability to supply 5G equipment to the UK, a senior company executive said today. Huawei vice president Victor Zhang said it would take months to establish the impact of the US measures announced in May, which aim to cripple the firm’s ability to source the advanced [...]
First Group says it may not survive as passenger numbers dive July 8, 2020 British bus and train operator First Group warned on Wednesday it might not survive as a going concern after a collapse in passenger numbers led to a £153m loss in the year to March, sending its shares down 15 per cent. But the company, which owns the US Greyhound network and school bus services in [...]
Asian stocks falter as coronavirus cases surge July 8, 2020 Asian stocks dithered on Wednesday as an increase in new coronavirus cases in some parts of the world cast doubts over the economic recovery while oil prices eased on oversupply fears. MSCI’s broadest index of Asia-Pacific shares outside Japan were a tad lower after hitting a 4-1/2 month high just on Tuesday. Chinese shares flickered [...]
Economists predict record US jobs growth in June in botched reopening July 2, 2020 The US economy likely created jobs at a record clip in June as more restaurants and bars resumed operations, economists have predicted. But a surge in coronavirus cases now puts the US economy’s fledgling recovery and jobs growth at risk. The Labor Department’s closely watched monthly employment report today is expected to add to a [...]
Reopenings stall as US records nearly 50,000 coronavirus cases in one day July 2, 2020 Governors of US states hit hardest by the resurgent coronavirus halted or reversed steps to reopen their economies yesterday, led by California, the nation’s most populous state and a new epicentre of the pandemic. New cases of coronavirus shot up by nearly 50,000 on Wednesday, according to a Reuters tally, marking the biggest one-day spike since the [...]
China passes national security law in turning point for Hong Kong June 30, 2020 China’s parliament passed national security legislation for Hong Kong today, setting the stage for the most radical changes to the former British colony’s way of life since it returned to Chinese rule 23 years ago. State media is expected to publish details of the law later today. It comes in response to last year’s often-violent [...]
Boeing 737 MAX certification test flights could start today June 29, 2020 The Federal Aviation Administration (FAA) has confirmed key certification test flights for the grounded Boeing 737 MAX could begin as soon Monday. In an email to Congress, the FAA said its Type Inspection Authorization (TIA) Board completed its review “clearing the way for flight certification testing to begin”. “Flights with FAA test pilots could begin as [...]
