Nouvelles Financières – Investissez votre argent judicieusement
FILE PHOTO: A Visa credit card is seen on a computer keyboard in this picture illustration taken September 6, 2017. /Philippe Wojazer/Illustration () – Visa Inc (V.N) reported a 4% rise in second-quarter profit on Thursday and pulled its full-year outlook, as the company reels from the hit to consumer spending due to the coronavirus […]
Continue ReadingFILE PHOTO: J Crew displays a closed sign on the Third Street Promenade during the global outbreak of coronavirus (COVID-19) in Santa Monica, California, U.S., March 16, 2020. /Lucy Nicholson () – Privately held fashion company J. Crew Group Inc is preparing for a bankruptcy filing that could come as soon as this weekend, CNBC […]
Continue Reading
MILAN () – U.S. hedge fund Elliott Management has further cut its stake in Italy’s biggest phone group Telecom Italia (TIM), a regulatory filing showed, amid an ongoing portfolio rebalancing as COVID-19 rocks financial markets. Paul Singer’s activist fund first invested in TIM in 2018 and went on to challenge its top investor, French media […]
Continue Reading
KINSHASA () – Democratic Republic of Congo has cut its 2020 economic growth forecast to -1.9% and is expecting its economy to contract due to the negative impact of the coronavirus pandemic, the country’s central bank said in a statement on Thursday. The country’s extractive industry output is expected to drop 5.6% year-on-year. The pandemic […]
Continue ReadingBOSTON () – An heir to a microwave snack fortune and a former chief executive of investment firm Pimco cannot use the coronavirus pandemic as a reason to avoid prison time for convictions in the U.S. college admissions scandal, a federal judge ruled on Thursday, although they can delay starting their sentences. FILE PHOTO: Michelle […]
Continue ReadingBEIRUT () – Lebanon plans to seek International Monetary Fund aid after approving an economic rescue plan setting out vast losses in its financial system as it aims to chart a way out of a crisis seen as the biggest risk to stability since the 1975-90 civil war. Lebanon’s President Michel Aoun wearing a face […]
Continue ReadingBEIJING () – China announced plans on Thursday to create a public market for real estate investment trusts (REITs), aiming to channel personal savings and private capital into infrastructure projects without overstretching already debt-laden local governments. FILE PHOTO: A man wearing a face mask walks past an estate agent in Guangzhou’s Sanyuanli area, as the […]
Continue ReadingBEIRUT () – Lebanon plans to seek International Monetary Fund aid after approving an economic rescue plan setting out vast losses in its financial system, as it aims to chart a course out of the most destabilising crisis since its 1975-90 civil war. Lebanon’s President Michel Aoun wearing a face mask, heads a council of […]
Continue ReadingFILE PHOTO: The logo of Bank Hapoalim, Israel’s biggest bank, is seen at their main branch in Tel Aviv, Israel July 18, 2016. /Amir Cohen/File Photo WASHINGTON () – Bank Hapoalim B.M. (POLI.TA) agreed to pay more than $30 million for its role in the money laundering conspiracy surrounding FIFA, the world governing body for […]
Continue Reading
(The author is editor-at-large for finance and markets at News. Any views expressed here are his own) By Mike Dolan LONDON, April 30 () – As another economic crisis heaves Italy’s debt mountain back into view, the sustainability of the country’s finances has never been more salient for increasingly indebted nations everywhere. With governments piling […]
Continue ReadingPeople wearing protective masks are seen on a street as the spread of the coronavirus disease (COVID-19) continues, in downtown Lisbon, Portugal April 30, 2020. /Rafael Marchante LISBON () – Portuguese Prime Minister Antonio Costa on Thursday announced a sector-by-sector plan to gradually lift lockdown measures imposed six weeks ago to combat the coronavirus outbreak. […]
Continue ReadingNEW YORK () – U.S. jobless claims have exceeded 30 million since the coronavirus outbreak hit the country, wiping out a decade of job gains and sending many Americans scrambling to find work and cash in on government aid. FILE PHOTO: A person walks by the entrance of the New York State Department of Labor […]
Continue ReadingNEW YORK () – Macy’s Inc plans to reopen 68 U.S. stores on Monday in states that have loosened coronavirus lockdowns, the department store operator said on Thursday, as more retailers sought to get business going after a crushing month of closures. FILE PHOTO: People wait to enter Macy’s Herald Square ahead of early opening […]
Continue Reading
WASHINGTON () – Turkey’s planned deployment of Russian S-400 missile defences has been delayed by the coronavirus outbreak but will ultimately go ahead, President Tayyip Erdogan’s spokesman said on Thursday, despite Washington’s warnings that Ankara risks U.S. sanctions. “There has been a delay because of the coronavirus but it will move forward as it was […]
Continue Reading() – Cigna Corp (CI.N) on Thursday reaffirmed its profit goals for this year and the next, expecting its $52 billion acquisition of pharmacy benefits manager Express Scripts to tide over the COVID-19-triggered global economic meltdown. FILE PHOTO: A screen displays the logo fro Cigna Corp. on the floor at the New York Stock Exchange […]
Continue Reading
ABUJA, April 30 () – Nigeria must use money repatriated from funds looted by former military ruler General Sani Abacha on agreed public projects or be forced to “replace” it, the U.S. Justice Department said. The United States and the British dependency of Jersey agreed with the Nigerian government in Febuary to return $300 million […]
Continue ReadingBOSTON () – BlackRock Inc (BLK.N) on Thursday said it named London-based financial executive Sandy Boss as its new head of investment stewardship, bringing a more international structure to the top asset manager’s voting on topics like climate change and social issues. FILE PHOTO: The company logo and trading information for BlackRock is displayed on […]
Continue Reading
DUBLIN, April 30 () – Bank of Ireland has processed more than 35,000 three-month repayment breaks in Ireland across all loan categories to help customers cope with coronavirus disruption, a spokesman for the country’s largest bank by assets said on Thursday. Ireland’s five retail banks agreed on Thursday to extend the breaks for impacted customers […]
Continue ReadingFILE PHOTO: The Federal Reserve seal is seen during Chairman Jerome Powell news conference following the two-day meeting of the Federal Open Market Committee (FOMC) meeting on interest rate policy in Washington, U.S., January 29, 2020. /Yuri Gripas WASHINGTON () – The U.S. Federal Reserve on Thursday widened a key program to nurse the “Main […]
Continue Reading
WASHINGTON () – Wall Street banks criticized the U.S. government on Wednesday after the Small Business Administration said it would temporarily close its Paycheck Protection Program (PPP) for small businesses hurt by the novel coronavirus to all but the country’s smallest lenders. The agency said it would only accept loans from banks with assets of […]
Continue ReadingLONDON () – Lloyds Banking Group’s (LLOY.L) first quarter pretax profit was all but erased by provisions against expected bad loans due to the coronavirus pandemic, although Britain’s biggest bank said on Thursday it was well placed to help with a recovery. FILE PHOTO: A man enters a Lloyds Bank branch in central London, Britain […]
Continue ReadingFILE PHOTO: A man wearing a face mask walks past an estate agent in Guangzhou’s Sanyuanli area, as the spread of the novel coronavirus disease (COVID-19) continues in the country, in Guangdong province, China April 13, 2020. /David Kirton/File Photo BEIJING () – China on Thursday said it will launch a pilot scheme for real […]
Continue ReadingFILE PHOTO: European Central Bank (ECB) President Christine Lagarde gestures as she addresses a news conference on the outcome of the meeting of the Governing Council, in Frankfurt, Germany, March 12, 2020. /Kai Pfaffenbach () – The coronavirus pandemic has sent the euro zone’s economy into an “unprecedented decline” that is likely to steepen before […]
Continue Reading() – Cigna Corp (CI.N) on Thursday reported better-than-expected quarterly profit and stuck to its profit target for the year as it benefited from strong sales at its Express Scripts pharmacy benefits business (PBM). FILE PHOTO: A screen displays the logo fro Cigna Corp. on the floor at the New York Stock Exchange (NYSE) in […]
Continue Reading
JAKARTA, April 30 () – Indonesia will not require small companies to pay income tax for six months and it will also subsidise insurance premiums for workers to help cushion the blow from the coronavirus pandemic, according to a senior minister and a government statement. The government has already announced tax breaks for a wide […]
Continue Reading
BEIRUT, April 30 () – The Lebanese government has approved an economic reform plan for digging the country out of a crisis seen as the biggest threat to its stability since the 1975-90 civil war, an official source said on Thursday. The plan drawn up by Prime Minister Hassan Diab’s government comes as mounting hardship […]
Continue Reading
(Adds details) ATHENS, April 30 () – Preventing an increase in soured bank loans is a top priority for Greece as it grapples with the economic fallout from the new coronavirus pandemic, Prime Minister Kyriakos Mitsotakis told parliament on Thursday. Greece exited its third international bailout in 2018. A nationwide lockdown imposed to contain the […]
Continue Reading
April 30 () – Asian stocks have recovered sharply in April and are on track to post their biggest monthly gain since October 2015, thanks to the stimulus measures unveiled by governments to cushion their economies against the coronavirus-induced slowdown. The MSCI’s broadest index of Asia-Pacific shares has gained about 8.5% this month, compared with […]
Continue ReadingFILE PHOTO: European Central Bank (ECB) headquarters building is seen in Frankfurt, Germany, March 7, 2018. /Ralph Orlowski FRANKFURT () – The European Central Bank said on Thursday it would pay even more for banks to borrow from it but kept much of its remaining policy powder dry as it prepared for a long fight […]
Continue Reading
() – Intercontinental Exchange Inc (ICE.N), which owns the New York Stock Exchange, reported a 34.3% rise in first-quarter profit on Thursday, helped by the coronavirus-fueled market volatility that led to a surge in trading volumes. Net income attributable to the company rose to $650 million, or $1.17 per share, in the quarter ended March […]
Continue Reading