Markets
Bank Of Canada Holds Key Interest Rate
- October 28, 2020
Macklem said until two per cent inflation is "sustainably achieved", which is not expected until 2023, the central bank's benchmark interest rate target will remain low. That's not a problem the central bank foresees for a few years, however, as it predicts the Consumer Price Index still will be below two per cent at the end of 2022, a testament to the size of the hole that was created by the initial lockdowns to slow the spread of the coronavirus. (more...)
- October 28, 2020
Macklem said until two per cent inflation is "sustainably achieved", which is not expected until 2023, the central bank's benchmark interest rate target will remain low. That's not a problem the central bank foresees for a few years, however, as it predicts the Consumer Price Index still will be below two per cent at the end of 2022, a testament to the size of the hole that was created by the initial lockdowns to slow the spread of the coronavirus. (more...)
Boeing losses continue to mount amid Covid-19 crisis & 737 MAX fiasco
- October 28, 2020
The pandemic has caused a huge drop in air travel, pushing major airlines to the brink of bankruptcy and forcing them to cut staff. Boeing, which along with Europe's Airbus dominates the aircraft-building industry, has seen orders and deliveries of new planes shrivel this year in the face of the pandemic and the grounding of the Max. (more...)
- October 28, 2020
The pandemic has caused a huge drop in air travel, pushing major airlines to the brink of bankruptcy and forcing them to cut staff. Boeing, which along with Europe's Airbus dominates the aircraft-building industry, has seen orders and deliveries of new planes shrivel this year in the face of the pandemic and the grounding of the Max. (more...)
Turkey to take legal, diplomatic steps against French caricature of Erdogan
- October 28, 2020
Showing Erdogan in a T-shirt and underpants, the caricature has Erdogan saying "Ooh, the Prophet" and comes with the caption: "Erdogan - in private he's very funny". According to sources, the prime minister informed the federal cabinet on Tuesday that he would write letters to Muslim world leaders and seek their support on the matter. (more...)
- October 28, 2020
Showing Erdogan in a T-shirt and underpants, the caricature has Erdogan saying "Ooh, the Prophet" and comes with the caption: "Erdogan - in private he's very funny". According to sources, the prime minister informed the federal cabinet on Tuesday that he would write letters to Muslim world leaders and seek their support on the matter. (more...)
As Lee family scrambles for cash, Samsung shares rise
- October 28, 2020
It is estimated that the bereaved family members may have to pay more than 10 trillion won in inheritance taxes. "On condition that the Lee family's ownership at the conglomerate remains unaffected, Samsung Life Insurance will have to increase dividend payouts to prepare for inheritance taxes", said Kang Seung-kun, an analyst at KB Securities. (more...)
- October 28, 2020
It is estimated that the bereaved family members may have to pay more than 10 trillion won in inheritance taxes. "On condition that the Lee family's ownership at the conglomerate remains unaffected, Samsung Life Insurance will have to increase dividend payouts to prepare for inheritance taxes", said Kang Seung-kun, an analyst at KB Securities. (more...)
Twitter CEO Jack Dorsey invests $50M in Bitcoin
- October 27, 2020
Are, the payments company helmed by Twitter chief operating officer Jack Dorsey , declared weekday it'd purchased four, 709 bitcoins , a $50 million investment representing 1 Chronicles of the firm's total assets. The news marks another milestone for institutional Bitcoin adoption which many commentators say is necessary to push Bitcoin into becoming a more mature investment vehicle. (more...)
- October 27, 2020
Are, the payments company helmed by Twitter chief operating officer Jack Dorsey , declared weekday it'd purchased four, 709 bitcoins , a $50 million investment representing 1 Chronicles of the firm's total assets. The news marks another milestone for institutional Bitcoin adoption which many commentators say is necessary to push Bitcoin into becoming a more mature investment vehicle. (more...)
Dunkin' Brands confirms talks of possible sale to Inspire Brands
- October 27, 2020
Dunkin' Brands Chief Communications Officer Karen Raskopf noted that there is "no certainty that any agreement will be reached" and that neither group will comment further until a transaction is agreed upon. The potential sale would represent a 20% premium in the company's current share price. But the global pandemic has hurt sales. Still, the company said in July it expects to close about 800 USA locations permanently this year as part of a "real estate portfolio rationalization". (more...)
- October 27, 2020
Dunkin' Brands Chief Communications Officer Karen Raskopf noted that there is "no certainty that any agreement will be reached" and that neither group will comment further until a transaction is agreed upon. The potential sale would represent a 20% premium in the company's current share price. But the global pandemic has hurt sales. Still, the company said in July it expects to close about 800 USA locations permanently this year as part of a "real estate portfolio rationalization". (more...)
Wall Street starts on a mixed note
- October 27, 2020
The sell-off erased all of the blue-chip index's gains for October. United States stocks fell sharply on Monday as surging coronavirus cases and a stalemate in Washington over the next fiscal aid bill darkened the economic outlook in the run-up to the November 3 presidential election. (more...)
- October 27, 2020
The sell-off erased all of the blue-chip index's gains for October. United States stocks fell sharply on Monday as surging coronavirus cases and a stalemate in Washington over the next fiscal aid bill darkened the economic outlook in the run-up to the November 3 presidential election. (more...)
Jack Ma’s Ant set to raise $35 billion in biggest-ever IPO
- October 27, 2020
The blockbuster dual public offering's target is shy of Bloomberg's previous estimation of United States dollars 35 billion , but the intended sum surpasses Saudi Aramco's USD 29.5 billion IPO in December 2019, which was the world's biggest public debut before Ant. (more...)
- October 27, 2020
The blockbuster dual public offering's target is shy of Bloomberg's previous estimation of United States dollars 35 billion , but the intended sum surpasses Saudi Aramco's USD 29.5 billion IPO in December 2019, which was the world's biggest public debut before Ant. (more...)
Hong Kong fines Goldman Sachs $US350m
- October 27, 2020
Goldman Sachs will pay a record $2.9 billion fine, the US's Department of Justice said in a statement on October 22. The Securities and Exchange Commission today announced charges against The Goldman Sachs Group Inc. "The penalty in this case - assessed exclusively in accordance with Hong Kong's own fining framework - reflects our findings that Goldman Sachs Asia failed to deal properly with numerous suspicious circumstances surrounding the 1MDB bond offerings". (more...)
- October 27, 2020
Goldman Sachs will pay a record $2.9 billion fine, the US's Department of Justice said in a statement on October 22. The Securities and Exchange Commission today announced charges against The Goldman Sachs Group Inc. "The penalty in this case - assessed exclusively in accordance with Hong Kong's own fining framework - reflects our findings that Goldman Sachs Asia failed to deal properly with numerous suspicious circumstances surrounding the 1MDB bond offerings". (more...)
Oxford Covid vaccine produces 'strong' immune response among elderly
- October 27, 2020
It's unclear when AstraZeneca will publish the results of its large ongoing trial that will help determine its vaccine's safety, but it is expected to be one of the first vaccine candidates to seek regulatory approval, Reuters reports . AstraZeneca has signed several supply and manufacturing deals with companies and governments around the world as it gets closer to reporting early results of a late-stage clinical trial. (more...)
- October 27, 2020
It's unclear when AstraZeneca will publish the results of its large ongoing trial that will help determine its vaccine's safety, but it is expected to be one of the first vaccine candidates to seek regulatory approval, Reuters reports . AstraZeneca has signed several supply and manufacturing deals with companies and governments around the world as it gets closer to reporting early results of a late-stage clinical trial. (more...)
Will improve yuan flexibility: China’s central bank governor
- October 26, 2020
Several trials have taken place in four cities, namely Suzhou, Shenzhen, Chengdu, and Xionggan, and at the venue for the 2022 Winter Olympics games in Beijing. China recently ran a pilot project to test the use case , adaptability, and the reach of the Digital Yuan within the country. China plans to disseminate the Digital Yuan central bank digital currency through various banks. (more...)
- October 26, 2020
Several trials have taken place in four cities, namely Suzhou, Shenzhen, Chengdu, and Xionggan, and at the venue for the 2022 Winter Olympics games in Beijing. China recently ran a pilot project to test the use case , adaptability, and the reach of the Digital Yuan within the country. China plans to disseminate the Digital Yuan central bank digital currency through various banks. (more...)
Ant Group prices Shanghai IPO leg at 68.8 yuan per share
- October 26, 2020
The IPO is attracting interest from some of the world's biggest money managers, and sparking a frenzy among individual investors in China clamoring for a piece of the sale. The fintech giant that runs the Alipay platform is charging ahead with its landmark offering just days ahead of the US election. The dual-listing is seen as a win for China and Hong Kong's capital markets, which have previously missed out on major IPOs of Chinese firms. (more...)
- October 26, 2020
The IPO is attracting interest from some of the world's biggest money managers, and sparking a frenzy among individual investors in China clamoring for a piece of the sale. The fintech giant that runs the Alipay platform is charging ahead with its landmark offering just days ahead of the US election. The dual-listing is seen as a win for China and Hong Kong's capital markets, which have previously missed out on major IPOs of Chinese firms. (more...)
Reliance Retail says it will acquire Future Group without delay
- October 26, 2020
Future Group, which has yet to comment on Amazon's objection, entered the deal with Reliance Industries because the company could not continue to navigate through the losses the pandemic has caused to the business, its founder Kishore Biyani said at a virtual conference earlier this month. (more...)
- October 26, 2020
Future Group, which has yet to comment on Amazon's objection, entered the deal with Reliance Industries because the company could not continue to navigate through the losses the pandemic has caused to the business, its founder Kishore Biyani said at a virtual conference earlier this month. (more...)
Johnson & Johnson, AstraZeneca to Resume Coronavirus Vaccine Clinical Trials in US
- October 26, 2020
They will then be monitored over three weeks. If they respond well to the vaccine and develop antibodies against the virus, the testing will expand to 960 people beginning in December. Coronavirus spikes have been "engineered" onto VSV, allowing the vaccine to attach to cells in the body. The vaccine is named Brilife, a portmanteau of the Hebrew word for health - bri'ut - and life. (more...)
- October 26, 2020
They will then be monitored over three weeks. If they respond well to the vaccine and develop antibodies against the virus, the testing will expand to 960 people beginning in December. Coronavirus spikes have been "engineered" onto VSV, allowing the vaccine to attach to cells in the body. The vaccine is named Brilife, a portmanteau of the Hebrew word for health - bri'ut - and life. (more...)
Le Chateau to close its doors for good
- October 26, 2020
The company made efforts to refinance or sell to a third party but was unsuccessful. On Friday, the company announced it will be closing 123 stores and cutting 1,400 employees who work in stores and at the company's head office. Clothing retailer Le Chateau will permanently close all of its retail stores, including three Mississauga locations in the weeks ahead. Le Chateau was actually one of Square One's original stores , having opened inside the shopping centre in 1974. (more...)
- October 26, 2020
The company made efforts to refinance or sell to a third party but was unsuccessful. On Friday, the company announced it will be closing 123 stores and cutting 1,400 employees who work in stores and at the company's head office. Clothing retailer Le Chateau will permanently close all of its retail stores, including three Mississauga locations in the weeks ahead. Le Chateau was actually one of Square One's original stores , having opened inside the shopping centre in 1974. (more...)
Trump, Biden hit battleground states as campaign enters last full week
- October 25, 2020
Biden planned on Sunday only to participate in a virtual "I will vote" concert . "The difference between what we're doing and what Donald Trump is doing is that we're doing it safely", Kate Bedingfield said. He even suggested at one point Saturday - against almost all predictions - that Republicans might reclaim control of the House of Representatives. Biden also is ahead in Wisconsin and MI, but the race appears to be much closer in other battleground states including Pennsylvania, ... (more...)
- October 25, 2020
Biden planned on Sunday only to participate in a virtual "I will vote" concert . "The difference between what we're doing and what Donald Trump is doing is that we're doing it safely", Kate Bedingfield said. He even suggested at one point Saturday - against almost all predictions - that Republicans might reclaim control of the House of Representatives. Biden also is ahead in Wisconsin and MI, but the race appears to be much closer in other battleground states including Pennsylvania, ... (more...)
Pelosi, Mnuchin trade blame on unending U.S. stimulus stalemate
- October 25, 2020
Pelosi , however, claimed recently that she along with Steven Mnuchin the treasury secretary is very close to a total wrap-up of the whole stimulus check situation very soon , as recorded by Bloomberg News. Senator John Thune of South Dakota, the No. 2 GOP leader in the chamber, said there probably isn't enough time for the House and Senate to process and pass stimulus legislation before the November 3 election, but it might be easier "once the dust settles and the smoke clears from the ... (more...)
- October 25, 2020
Pelosi , however, claimed recently that she along with Steven Mnuchin the treasury secretary is very close to a total wrap-up of the whole stimulus check situation very soon , as recorded by Bloomberg News. Senator John Thune of South Dakota, the No. 2 GOP leader in the chamber, said there probably isn't enough time for the House and Senate to process and pass stimulus legislation before the November 3 election, but it might be easier "once the dust settles and the smoke clears from the ... (more...)
Gap could close all its United Kingdom stores
- October 25, 2020
The retailer had 129 Gap-branded stores in Europe at the end of July but was making huge losses because of the Covid-19 pandemic. Gap and the Banana Republic are not the only clothing store of Gap Inc . The coronavirus pandemic has wreaked havoc across the already-struggling retail sector, which was battling a rise in online shopping, increased business rates and declining customer footfall. (more...)
- October 25, 2020
The retailer had 129 Gap-branded stores in Europe at the end of July but was making huge losses because of the Covid-19 pandemic. Gap and the Banana Republic are not the only clothing store of Gap Inc . The coronavirus pandemic has wreaked havoc across the already-struggling retail sector, which was battling a rise in online shopping, increased business rates and declining customer footfall. (more...)
Coke bids adieu to 200 drink brands
- October 25, 2020
This news, which was announced during Coca-Cola's third-quarter earnings call on October 22, comes just weeks after Coca-Cola announced the end of the line for its coconut beverage brand , Zico and less than three months after the Odwalla line of "healthy" smoothies and juices got unceremoniously "canned". (more...)
- October 25, 2020
This news, which was announced during Coca-Cola's third-quarter earnings call on October 22, comes just weeks after Coca-Cola announced the end of the line for its coconut beverage brand , Zico and less than three months after the Odwalla line of "healthy" smoothies and juices got unceremoniously "canned". (more...)
United Kingdom eyes European Union trade deal 'as soon as possible'
- October 25, 2020
Mr Motegi reiterated that Japan will continue to support Britain's bid to join the TPP, which is a trade agreement involving 11 countries across the region, including Australia, Vietnam and Canada. The paper said the British team would travel to Brussels on Thursday for more talks and that next Saturday had effectively become the deadline to decide whether the two sides could reach a deal. (more...)
- October 25, 2020
Mr Motegi reiterated that Japan will continue to support Britain's bid to join the TPP, which is a trade agreement involving 11 countries across the region, including Australia, Vietnam and Canada. The paper said the British team would travel to Brussels on Thursday for more talks and that next Saturday had effectively become the deadline to decide whether the two sides could reach a deal. (more...)
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