Mois : mars 2020

LONDON () – Invesco said on Tuesday it would sell all the unquoted companies currently held in its UK equities portfolios and has marked down their value by 60% as a result of recent coronavirus-fueled market falls. The U.S.-based manager said it would reinvest the money in publicly listed companies, valuations of which have been […]

NEW YORK () – New York hair stylist Vanessa Karim has not worked since March 21, when the state closed all salons to slow the spread of the coronavirus. She only has enough cash on hand to cover half of her $1,400 April rent. “It all feels like a bad dream,” said Karim, 36, who […]

LISBON, March 31 () – Portugal’s flag carrier TAP will temporarily lay off around 90% of its employees due to the growing coronavirus crisis that led to a fall in demand for travel, according to an email sent by the airline to staff on Tuesday and seen by . From April 1 to at least […]

LONDON, March 31 () – Britain’s coronavirus lockdown began taking its toll on London’s financial heartland on Tuesday as accounting and consulting group Grant Thornton and law firm Allen & Overy sought to cut costs, including pay, and bolster capital. Professional services in the City of London have hit a near standstill since the coronavirus […]

(Adds loan deferrals detail, share prices) By Nichola Saminather TORONTO, March 31 () – Canada’s small financial institutions are waging a war for deposits, offering customers higher interest rates to shore up funding and meet demand for deferrals and loans, despite a drop in official interest rates to a decade-low. While Canada’s biggest banks have […]

* “I still fear this is just a rally in a bear market”- analyst * STOXX 600 down 23% for qtr, marks worst month ever * Italian stocks mark worst quarter ever, down 27% * Travel and leisure sector worst qtrly performing sector (Updates to close) By Ambar Warrick and Sagarika Jaisinghani March 31 () […]

KABUL, March 31 () – A three-member Taliban team arrived in Kabul on Tuesday to begin a prisoner exchange process pivotal to kick-starting talks between the insurgent group and negotiators named by the Afghan government to end the country’s 18-year-old war. The peace talks, known as the intra-Afghan dialogue, were envisaged in an agreement signed […]

(Adds bank comment, background) By Brenna Hughes Neghaiwi ZURICH, March 31 () – Switzerland’s bank watchdog on Tuesday toughened its line against banks paying dividends, saying that capital relief to promote lending during the coronavirus crisis would be cut for any new dividend payments approved after March 25. Regulators around the world have been urging […]

NEW YORK () – When the world feels like it is ending, it can be comforting to look to history and see that such global convulsions have happened before and the earth kept on turning. For help during the coronavirus crisis, turned to Carmen Reinhart, an economist and professor at the John F. Kennedy School […]

BEIJING, March 31 () – U.S. distressed asset manager Oaktree has received an outbound investment quota in the Beijing municipality worth $500 million, the Chinese capital’s local financial regulator said on Tuesday, Oaktree is the first financial institution to participate in the city’s outbound investment scheme, the regulator said in a statement. The scheme allows […]

TORONTO, March 31 () – The Bank of Canada is likely to buy about C$200 billion of government debt after announcing its first quantitative easing program, which would nearly triple the amount of assets on the central bank’s balance sheet, bond strategists estimate. Just a few weeks ago, Canada’s central bank was defying the global […]

RIYADH () – An action plan by the Group of 20 major economies to address the coronavirus pandemic will consider the risk of debt vulnerabilities in low-income countries and deliver financial aid to emerging countries, a joint statement said on Tuesday. G20 finance minister and central bank governors, who spoke by video conference for the […]

* Indonesian President plans stricter movement restrictions * Vietnamese PM orders suspension of public transport services * Thailand earmarks $15 bln stimulus package By Arundhati Dutta March 31 () – Southeast Asian stock markets rose on Tuesday as data showed China factory activity unexpectedly expanded in March after contracting to a record low in the […]

LONDON, March 31 () – The boss of British digital bank Monzo has volunteered to forego his salary for a year, while other senior staff will take a 25% pay cut, as part of measures the lender is taking in response to the coronavirus hit on the economy. Co-founder and CEO Tom Blomfield told the […]

HONG KONG, March 31 () – Hong Kong’s markets regulator has given its approval for licensed traders and asset managers to work from overseas if necessary because of travel restrictions or other practical problems caused by the coronavirus pandemic. Financial regulators around the world have had to waive normal rules, such as allowing traders to […]

(Adds Luxembourg finance minister, detail) BRUSSELS, March 31 () – A new mechanism to enable the issuance of joint euro zone debt to counter economic fallout from the coronavirus epidemic, as recommended by nine European leaders, could take up to three years to set up, the head of the bloc’s bailout fund said. However, common […]

A look at the day ahead from EMEA senior markets correspondent Tommy Wilkes. The views expressed are his own. It’s the end of the most calamitous quarter for world stocks since 2008. For European stocks you have to go back even further – to 2002. With world markets having seen $10 trillion wiped off their […]

DUBAI, March 31 () – Shareholders of Abu Dhabi-listed Commercial Bank International, which is part owned by Qatar National Bank, have declined a proposed by the board to increase the capital of the company, according to a regulatory filing on Tuesday. The filing did not state the reasons for the shareholders decision. The shareholder meeting […]

* SSEC +0.4%, CSI300 +0.6%, HSI +1.1%, HSCE +1.1% * China’s March factory activity expands, beats estimates * World Bank warns of economic pain for China, rest of Asia HONG KONG/SHANGHAI, March 31 () – China shares climbed on Tuesday after the country reported a better-than-expected industrial activity, spurring hopes that the world’s second-largest economy […]

SYDNEY, March 31 () – Japanese stock benchmark Nikkei gained on Tuesday as Wall Street stabilised and factory data from China held out the hope of a rebound in activity, even though the global coronavirus crisis showed no signs of abating. The Nikkei share average rose 0.8% to 19,233.50 by the midday break. For the […]