Markets

Wall Street jumps at open on upbeat corporate earnings

The S&P 500 opened higher by 31.48 points, or 1.09 percent, at 2,909.96, while the Nasdaq Composite gained 95.52 points, also 1.09 percent, to 8,825.69 at the opening bell. Brent crude fell to just above $20 per barrel Monday and West Texas Intermediate was listed at just below $13. Wall Street's main stock indexes rose as much as 1.5 percent on Monday, with the Dow Jones closing at more than ... [Full Article...]

Boeing Could Take 3-5 Years To Restore Dividend: CEO David Calhoun

Boeing Could Take 3-5 Years To Restore Dividend: CEO David Calhoun Mr Calhoun said it could take two-to-three years for commercial airline travel to return to the level prior to the coronavirus crisis. Boeing was already reeling from two 737 Max plane crashes that killed 346 people and it had drawn down a almost $14 billion credit line last month, before the coronavirus pandemic took a further toll on its business. [Full Article...]

Chancellor unveils 100% state-backed loan scheme for UK's smallest businesses

Chancellor unveils 100% state-backed loan scheme for UK's smallest businesses However, thousands of businesses across the country complained that the CBILS scheme was cumbersome and included too many financial hurdles that many businesses were unable to overcome. The Bank continues to review applications from a wide range of lender types - from PRA-regulated banks, to platform lenders, debt funds, invoice finance lenders, asset finance lenders and responsible finance lender... [Full Article...]

HSBC Puts 35,000 Job Cuts On Hold Amid Coronavirus Pandemic

The Asia-focused bank also pushed back parts of its restructuring program until at least the end of the year. Newly appointed Chief Executive Officer Noel Quinn's plan to boost profitability at Europe's biggest lender is being curtailed by the virus outbreak that has also shaken peers worldwide. [Full Article...]

US Oil Benchmark Drops Another 13%, Completely Erases Last Week's Recovery

US Oil Benchmark Drops Another 13%, Completely Erases Last Week's Recovery Negative WTI put options for June traded for the first time Monday, according to Nymex data. For the first time in history last week United States oil prices turned negative before rising again. The United States Oil Fund LP (USO), the largest oil-focused US exchange-traded product, said it would further shift its holdings into later-dated contracts. [Full Article...]

BMW iX3 electric SUV leaked ahead of debut

BMW iX3 electric SUV leaked ahead of debut The EV (electric vehicle), based on the BMW X3 , is expected to be officially unveiled in the coming days or weeks, with an Australian launch confirmed for 2021. One visible deviation is that the two BMW kidneys at the front are again separated by a chrome bar. In contrast, the iX3 is expected to pack only 74 kwh of battery capacity, which is lower than what potential rivals are already packing... [Full Article...]

Weekend Bulls: Bitcoin (BTC) Surges to $7,700, Attempts $8,000 Resistance

Weekend Bulls: Bitcoin (BTC) Surges to $7,700, Attempts $8,000 Resistance BTC impressively moved from $6,800 to $7,700. This puts to an end the three weeks old fluctuations between $6,600 and $7,400. Expectantly, another breakthrough over $7,700 area will catapult the coin to reach the highs of $8,500 and $9,000. [Full Article...]

Coronavirus: Greggs to begin reopening shops amid lockdown

Coronavirus: Greggs to begin reopening shops amid lockdown Earlier this month, Burger King, KFC and Pret A Manger reopened certain restaurants, mainly for delivery only. Roger Whiteside, chief executive of the business, said he hopes the trial will inform the business about what changes need to be made to operate safely and meet social distancing guidelines. [Full Article...]


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