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Luckin Coffee chairman defaults on loan, surrenders company shares
Luckin Coffee Chairman Charles Zhengyao Lu and Chief Executive Jenny Zhiya Qian have handed over shares in the embattled Chinese coffee chain to lenders after a company controlled by Lu's family defaulted on a $518 million margin loan, one of the banks said on Monday.
Posted on : 2020-04-06 23:03:24
Panic buying, trade curbs cause shortages of coronavirus drugs in EU
Hospitals in the European Union are facing shortages of critical drugs to treat COVID-19 patients because of trade restrictions and excessive stockpiling by EU governments, EU and industry officials said on Monday.
Posted on : 2020-04-06 22:59:38
No turning back after central bankers' 'seismic' stimulus shift
The world's top central bankers have pulled out all the stops in their fight against the coronavirus fallout, taking money printing to extremes that may become the new normal long after the pandemic is over.
Posted on : 2020-04-06 22:55:33
Capri furloughs all North America store staff, sees stores reopening only after June 1
Michael Kors owner Capri Holdings Ltd said on Monday it would furlough all its 7,000 employees in North America amid the coronavirus pandemic, as it expects to reopen its stores only after June 1.
Posted on : 2020-04-06 22:54:09
Russia and Saudi 'very close' to oil deal, Moscow signals big cuts
Saudi Arabia and Russia are close to a deal on oil output cuts to reduce a global glut, a top Russian negotiator said on Monday, while sources in Moscow said it was ready for significant cuts, ahead of talks planned for this week.
Posted on : 2020-04-06 22:52:51
Global stocks jump as virus deaths slow; oil falls on OPEC+ delay
World stock markets jumped on Monday, encouraged by a slowdown in coronavirus-related deaths and new cases in some of the world's hot spots, while a delay in talks between Saudi Arabia and Russia to cut supply sent oil prices tumbling again.
Posted on : 2020-04-06 22:47:44
Exclusive: Qatar Petroleum not scaling down LNG expansion despite delay in bids - CEO
Qatar Petroleum will postpone the start of production from its new gas facilities to 2025 due to a delay in the bidding process, but is not downsizing the world's largest liquefied natural gas project despite concerns of a mounting glut, its chief executive told Reuters.
Posted on : 2020-04-06 22:43:11
IBM taps former Bank of America CTO to oversee cloud business
International Business Machines Corp on Monday named former Bank of America Corp top technology executive Howard Boville head of its cloud business, as Arvind Krishna takes over from long-time chief Ginni Rometty.
Posted on : 2020-04-06 22:33:42
GSK to partner with Vir for potential COVID-19 treatments, invest $250 million
British drugmaker GlaxoSmithKline will invest $250 million in Vir Biotechnology Inc and collaborate to develop potential antibody treatments for COVID-19, the disease caused by the new coronavirus, the companies said on Monday.
Posted on : 2020-04-06 22:31:18
Euro zone needs common action to tackle coronavirus shock: ECB's Stournaras
Countries sharing the euro must act jointly to face a common enemy, the novel coronavirus, the head of Greece's central bank said on Monday, calling for common debt issuance using all the firepower of euro zone institutions.
Posted on : 2020-04-06 21:34:28
S&P 500 set to recoup $1 trillion in value as coronavirus deaths slow
The S&P 500 was on track to recoup about $1 trillion in market value on Monday in a frantic rally after New York, the biggest U.S. coronavirus hot spot, reported a fall in daily deaths, raising hopes that the pandemic could level-off soon.
Posted on : 2020-04-06 21:19:38
Oil falls after Saudi Arabia, Russia delay meeting, Cushing stockpiles soar
Oil prices slumped on Monday, pulling back from last week's gains after Saudi Arabia and Russia delayed a meeting of oil producers aimed at resolving growing worldwide oversupply as the coronavirus pandemic pummels demand.
Posted on : 2020-04-06 21:14:05
Global Markets: Stocks jump as COVID deaths slow; oil falls on OPEC+ delay
World stock markets jumped on Monday, encouraged by a slowdown in coronavirus-related deaths and new cases in some of the world's hot spots, while a delay in talks between Saudi Arabia and Russia to cut supply sent oil prices tumbling again.
Posted on : 2020-04-06 20:51:46
U.S. energy secretary hopeful Saudi, Russia to end oil row this week
U.S. Energy Secretary Dan Brouillette said on Monday that after speaking with the energy ministers of Saudi Arabia and Russia he believes the countries will cut oil output and end their war over market share this week.
Posted on : 2020-04-06 20:15:27
Mastercard's Scandinavian e-pay deal in EU antitrust crosshairs
EU antitrust regulators on Monday said Mastercard Inc's plan to buy part of Scandinavian payments group Nets is a significant threat to competition in Europe based on information from six countries including Britain.
Posted on : 2020-04-06 20:01:48
How euro zone 'coronabonds' might work
The coronavirus pandemic has revived the acrimonious debate between euro zone countries about jointly issuing debt to meet healthcare needs and address the deep economic downturn that is set to follow.
Posted on : 2020-04-06 19:54:20
EasyJet founder steps up battle with management over Airbus order
Stelios Haji-Ioannou, easyJet's founder and biggest shareholder, on Monday intensified his battle with the airline's management over a huge aircraft order with Airbus which he says it should cancel.
Posted on : 2020-04-06 19:50:22
JPMorgan CEO Dimon calls 'bad recession', mulls suspending 2020 dividend
JPMorgan Chase & Co's top boss, Jamie Dimon , on Monday said he sees a "bad recession" in 2020, and that the largest U.S. bank could suspend its dividend if the coronavirus crisis deepens.
Posted on : 2020-04-06 19:31:45
GSK to partner with Vir for potential COVID-19 treatments, invest $250 mln
British drugmaker GlaxoSmithKline will invest $250 million in Vir Biotechnology Inc and collaborate to develop potential treatments for COVID-19, the disease caused by the new coronavirus, the companies said on Monday.
Posted on : 2020-04-06 19:26:16
Uber connects out-of-work U.S. ride-hail drivers to delivery, production jobs
Uber Technologies Inc said on Monday its app will list job openings in the delivery, food production and grocery industry that its U.S. drivers can access during a slump in ride-hailing demand due to the coronavirus.
Posted on : 2020-04-06 19:25:34
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