Business


 

Budget 2020: $230m funding targets exporters, SMEs, R&D

The Budget will double to 1,400 the number of exporting firms receiving intensive support in offshore markets from New Zealand Trade & Enterprise.Some $32 million would be applied to the Focus programme to achieve that over the... [Author: [email protected]]
Tags: Business, Budget, New Zealand


Disney suspends new cruises through July 27 during coronavirus outbreak

Walt Disney Co announced on Wednesday it has suspended all new departures on its Disney Cruise Line through July 27 as the coronavirus outbreak continues.
Tags: Money, Disney, businessNews, Walt Disney Co, Disney Cruise Line


Fed chief has no time to worry about U.S. debt during wartime

The U.S. government has a $3 trillion bulge of debt coming through the pipeline because of the coronavirus pandemic. It also has perhaps 30 million or more freshly unemployed Americans to support, tens of thousands of businesses on the ropes, and a possibly extended battle with a virulent disease to underwrite.
Tags: Money, businessNews, Fed


BoE's Bailey says Bank can help spread the cost of coronavirus - ITV

The Bank of England can help spread the cost of coronavirus to society over time, Governor Andrew Bailey said on Wednesday, adding that Britain had choices to make over whether more austerity would be needed.
Tags: England, Money, businessNews, Britain, Bank, Bailey, Andrew Bailey


Companies explore suburbs as social distancing complicates return to NYC

With a mass return to offices looking like wishful thinking in New York and other cities even as businesses start to reopen as the coronavirus outbreak is contained, companies are exploring real estate options in the suburbs.
Tags: New York, Money, businessNews


Goldman Sachs CFO calls exposure to energy, hotel, airline firms manageable

Goldman Sachs Chief Financial Officer Stephen Scherr told investors on Wednesday that the bank's lending exposure to energy, hotel, gaming and airline companies was manageable, and that the bank would not seek to grow its retail loan portfolio given current economic conditions.
Tags: Money, businessNews, Goldman Sachs, Goldman Sachs CFO, Stephen Scherr


Lebanon launches IMF talks to rescue economy; more talks in coming days

The International Monetary Fund on Wednesday said it has begun remote discussions this week with Lebanon, which is seeking some $10 billion of aid to help it out of the worst financial crisis in its history.
Tags: Money, businessNews, International Monetary Fund, Lebanon, Imf


Japan to create scheme to inject capital into pandemic-hit firms

Japan will create a scheme to inject capital into large and mid-size companies suffering from the coronavirus pandemic, government and ruling party officials said, as the health crisis threatens to inflict even deeper pain on its ailing economy.
Tags: Japan, Money, businessNews


U.S. March, April job losses revised higher

The U.S. economy lost a record 20.537 million jobs in April and not 20.5 million as reported last Friday, according to revised data published by the Labor Department this week.
Tags: Money, businessNews, Labor Department


Sanofi to accelerate European COVID-19 vaccine access after CEO prioritizes U.S. preorders

French drugmaker Sanofi SA said on Wednesday that it is working with European regulators to speed up access to a potential coronavirus vaccine in Europe after its chief executive suggested Americans would likely get the vaccine first.
Tags: Europe, Money, businessNews, Sanofi, Sanofi SA


U.S. to buy up to 1 million barrels of oil for emergency reserve

The U.S. Energy Department said on Wednesday it will buy up to 1 million barrels of sweet crude for the government's emergency petroleum reserve as part an effort to help producers struggling as the coronavirus strangles oil demand.
Tags: Money, businessNews, U S Energy Department


Global Markets: Asian stocks drop as virus recovery begins to look distant

Asia's stock markets fell and gold hit a one-week high on Thursday as worries about a second wave of coronavirus infections and a dour assessment of the way back from the head of the U.S. Federal Reserve dashed hopes for a quick recovery.
Tags: Asia, Money, businessNews, U S Federal Reserve, Global Markets


Fuel cargo loaded at Iran sets sail to Venezuela - data

At least one tanker carrying fuel loaded at an Iranian port set sail to crisis-stricken Venezuela, according to vessel tracking data from Refinitiv Eikon on Wednesday, which could help ease an acute scarcity of gasoline in the South American country.
Tags: Money, Iran, businessNews, Venezuela, Refinitiv Eikon


Fiat Chrysler, Peugeot decide to withhold 2019 dividend payout

The boards of automakers Fiat Chrysler Automobiles N.V. and Peugeot S.A said on Wednesday it would not pay ordinary dividend for 2019 this year due to a collapse in consumer demand resulting from the COVID-19 pandemic.
Tags: Money, businessNews, Peugeot, Fiat Chrysler, Fiat Chrysler Peugeot


Trump still wants negative interest rates, but says Fed Chair has improved

President Donald Trump on Wednesday said he still strongly believes the Federal Reserve should have negative interest rates, but gave a modicum of approval to Fed Chair Jerome Powell who said earlier in the day the central bank would not lower rates beyond zero.
Tags: Money, businessNews, Federal Reserve, Donald Trump, Trump, Fed, Jerome Powell, Fed Chair


Budget 2020: $1.6b trade training package welcomed - 'I've never seen anything like it'

A leading trade training agency says the $1.6 billion Budget package to boost apprenticeships and industry training is "incredible"."I've never seen anything like this in my career," Building and Construction Industry Training... [Author: [email protected]]
Tags: Business


All eyes on Detroit as automakers ready slow, careful reopening of plants

The U.S. factories that make Fords, Chevys and Jeeps are coming back to life this week as workers install new safety equipment and wake up machines ahead of the high-stakes restart the Detroit automakers plan to launch on Monday.
Tags: Money, businessNews, Detroit


Budget 2020: Govt injects $280m into NZ Post as service 'no longer commercially viable'

The Government will pump $280 million into New Zealand Post as it is "no longer commercially viable" for the state-owned enterprise to maintain its current service level.It will fund the postal service with $130m from Budget 2020... [Author: [email protected]]
Tags: Business, New Zealand Post, NZ Post


Mexico green lights auto industry restart, heeding U.S. calls

Mexico will begin opening some automotive factories from May 18 under a plan unveiled on Wednesday that loosens coronavirus restrictions and paves the way for U.S. car giants to ramp up output dependent on parts made south of the border.
Tags: Money, Mexico, businessNews


Fed's Daly, echoing Powell, sees slow recovery, need for more support

It will likely take more than just a few months before the millions of Americans who have lost their jobs on fallout from the coronavirus pandemic will be able to get back to work, San Francisco Federal Reserve Bank President Mary Daly said on Wednesday.
Tags: Money, businessNews, Fed, Daly, Powell, San Francisco Federal Reserve Bank, Mary Daly


Less than zero? Powell shows no love for negative rates

Federal Reserve Chair Jerome Powell had a clear message to interest rate futures traders on Wednesday: Bets that the U.S. central bank will pursue a negative interest-rate policy are off-base.
Tags: Money, businessNews, Powell, Federal Reserve Chair, Jerome Powell


Abbott's fast COVID test could be missing cases, study says

Abbott Laboratories' speedy coronavirus test, which can deliver results within minutes, could be missing a third to nearly half of positive cases, according to a study from New York University researchers published on Wednesday.
Tags: Money, businessNews, Abbott, New York University, Abbott Laboratories


UK surveyors expect price falls when housing market reopens

British house prices are likely to fall as the market slowly begins to reopen, after a collapse in activity due to COVID-19 restrictions last month, a survey showed on Thursday.
Tags: UK, Money, businessNews


Drugmaker Roche in talks with UK government to roll out coronavirus antibody test kits

Swiss drugmaker Roche Holding AG said on Wednesday it was in talks with the UK government to roll out its coronavirus antibody test kits in the country after Public Health England (PHE) found them reliable.
Tags: UK, Money, businessNews, Public Health England PHE, Roche Holding AG, Drugmaker Roche


Asian stocks drop as virus recovery begins to look distant

Asia's stock markets fell and gold hit a one-week high on Thursday as worries about a second wave of coronavirus infections and a dour assessment of the way back from the head of the U.S. Federal Reserve dashed hopes for a quick recovery.
Tags: Asia, Money, businessNews, U S Federal Reserve


'Love & Hip Hop' star, Texas engineer charged with coronavirus bailout fraud - DOJ

The U.S. Department of Justice (DOJ) on Wednesday said it has charged two more individuals for defrauding the U.S. government coronavirus bailout program: a Texas engineer and a star from the reality television show "Love & Hip Hop Atlanta".
Tags: Texas, Money, businessNews, Doj, U S Department of Justice DOJ


Treasury's Mnuchin says U.S. will slowly reopen economy

U.S. Treasury Secretary Steven Mnuchin said on Wednesday the economy will be reopened slowly but he cautioned that waiting too long risked severe economic damage.
Tags: Money, businessNews, Treasury, U S Treasury, Mnuchin, Steven Mnuchin


WTO Director-General Roberto Azevedo plans to step down - Bloomberg News

World Trade Organization (WTO) Director-General Roberto Azevedo plans to step down before his term ends in 2021, Bloomberg reported late on Wednesday, citing four people familiar with the matter.
Tags: Money, Bloomberg, businessNews, WTO, Bloomberg News, World Trade Organization WTO, Roberto Azevedo


Budget 2020: $5b housing spend up questioned after Kiwibuild debacle

The Government's plan to spend $5 billion on housing is surprising given the debacle over Kiwibuild, a financial expert says.Bruce Bernacchi, KPMG's head of financial services, said the package which aims to build 8000 new state... [Author: [email protected]]
Tags: Business, KiwiBuild, Bruce Bernacchi


Budget 2020: Housing Foundation, Salvation Army welcomes $5b programme, boost for construction sector

A $5 billion Government spend up on state housing in the next four to five years for 8000 new state and transitional houses in partnership with housing providers has met with support from the social housing sector.Dominic Foote... [Author: [email protected]]
Tags: Business, Housing Foundation Salvation Army, Dominic Foote



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