TOKYO/NEW YORK (Reuters) – Asian shares rose to a two-month high on Thursday as expectations of further government stimulus supported investor confidence in an economic recovery from the global coronavirus pandemic. MSCI’s broadest index of Asia-Pacific shares outside Japan rose…
Read MoreAsian stocks reach two-month high on economic recovery hopes
TOKYO/NEW YORK (Reuters) – Asian shares rose to a two-month high on Thursday as expectations of further government stimulus supported investor confidence in an economic recovery from the global coronavirus pandemic. MSCI’s broadest index of Asia-Pacific shares outside Japan rose…
Read MoreSouth Korea seeks arrest of Samsung heir in succession probe
SEOUL (Reuters) – South Korean prosecutors have requested an arrest warrant against Samsung Group heir Jay Y. Lee, they said on Thursday, in the investigation of a controversial 2015 merger and alleged accounting fraud in a suspected bid to aid…
Read MoreU.S. airlines gain final approval to drop services to 75 domestic airports
WASHINGTON (Reuters) – Fifteen U.S. airlines were granted final government approval on Wednesday to temporarily halt service to 75 domestic airports as travel demand has been crushed due to the coronavirus pandemic. The U.S. Transportation Department said all airports would…
Read MoreSenate passes bill lengthening coronavirus small-business loan terms
WASHINGTON (Reuters) – The U.S. Senate unanimously approved legislation on Wednesday giving small businesses up to 24 weeks to use Paycheck Protection Program loans created during the coronavirus pandemic, up from the current eight-week deadline. The legislation, already passed by…
Read MoreDemocratic-led U.S. House panel opposes any U.S. trade deal with Brazil
WASHINGTON (Reuters) – The U.S. House Ways and Means Committee said on Wednesday it opposed the Trump administration’s plan to expand economic ties with Brazil given its record on human rights and the environment under President Jair Bolsonaro. Committee Chairman…
Read MoreVirus-hit U.S. state revenue could start slow recovery in third quarter: analysts
CHICAGO (Reuters) – U.S. state tax revenue, which plunged due to the economic fallout from the coronavirus pandemic, could start to slowly recover this summer as long as the outbreak does not undergo a resurgence, analysts said. With no agreement…
Read MoreWall Street surges on signs of economic rebound
NEW YORK (Reuters) – Wall Street jumped in a broad rally on Wednesday, closing ground on all-time highs as signs of recovery from mandated economic shutdowns helped investors look beyond ongoing social unrest and pandemic woes. Financials, industrials and tech…
Read MoreCIMB scraps mortgage hike plan following customers' push-back
SINGAPORE – CIMB Bank will maintain the floor rate for its mortgages pegged to the Singapore inter-bank offered rate (Sibor) and swap offer rate (Sor) after customers’ push-back against a planned hike. The bank said on Wednesday (June 3) that…
Read MoreU.S. factory orders extend decline in April
WASHINGTON (Reuters) – New orders for U.S.-made goods plunged in April and business spending plans on equipment were much weaker than initially thought, suggesting business investment remained depressed early in the second quarter amid the COVID-19 pandemic. The Commerce Department…
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