Markets
Lufthansa in advanced talks for state rescue deal worth about $10 billion
Lufthansa said it expected conditions of the deal to include the waiver of future dividend payments and limits on management pay, adding the package would have to be approved by the European Commission. Lufthansa would issue the shares to the government for the nominal price of 2.56 euros, a steep discount that would allow the state to profit from any upside to the price. [Full Article...]
Facebook’s Zuckerberg embraces remote work beyond Silicon Valley
Facebook founder Mark Zuckerberg said Thursday he was "pretty confident" his company could help prevent attempts to influence the political outcome of the USA presidential election later this year. But those remote workers will have to alert Facebook if they move to a new location by January 1. and may have their pay adjusted accordingly, he added. [Full Article...]
China drops GDP goal as Covid-19 slams economy
China will not set an economic growth goal for this year as it deals with the fallout from the coronavirus pandemic . Chinese Premier Li Keqiang announced the change in his annual government work report delivered to the National People's Congress, the country's top legislature, during its annual session in Beijing on Friday. [Full Article...]
RBI extends term loan moratorium till Aug 31; repayment rule relaxed
Further, bank exposure to corporates has been raised to 30 per cent of the group's net worth from the current limit of 25 per cent, a move that will allow lenders to give larger loans to companies. "RBI's Monetary Policy Committee met again from May 20-22". This will be third presser of the governor in the context of COVID-19 related measures in last two months. [Full Article...]
Trump, McConnell meet as Senate declines to debate virus aid
As the House works remotely , the lights-on Senate has the legislative stage to itself. Better to assess how that money is being spent, he said, before approving more. In addition, the DNI in recent weeks has been declassifying information from the Russian Federation investigation that Trump allies hope will cast senior Obama administration officials - including former vice president and 2020 Tru... [Full Article...]
Trump Denounces Chinese Propaganda Attack on United States as ‘Disgrace’
Noting that certain USA politicians have been busy shifting the blame to China, Zhao said such an attempt is just impossible as the blame is too heavy to be shifted. Secretary of State Mike Pompeo defamatory statements made Wednesday. "As the pandemic is still spreading in the U.S. and many other places in the world, the most pressing task is still pulling together to save lives and seek economi... [Full Article...]
Another 2.4M Workers File First-Time Jobless Claims
The state's figures often differ slightly from the Labor Department's, but tend to follow the same trends. Counting the 1.1 million claims filed through the federal government's temporary Pandemic Unemployment Assistance program, new jobless claims totaled a much higher 3.3 million last week. [Full Article...]
United Kingdom government sells first bond with negative yield
While investors will receive an annual interest payment of 0.75%, they paid above face value for the bond so the actual return in cash terms is less than they have lent. United Kingdom 2-year yields fell to an all-time low of -0.051% in the latest trade. Despite the negative yield and in a sign of unwavering demand for United Kingdom gilts, the DMO revealed there were £8.1 billion of orders in t... [Full Article...]