News Wire

Trump signs coronavirus relief orders after talks with Congress break down

01h57 President Donald Trump signed executive orders on Saturday partly restoring enhanced unemployment payments to the tens of millions of Americans who lost jobs in the coronavirus pandemic, as the United States marked a grim milestone. . .  Full story

Tax cuts, reduced unemployment benefits: What's in Trump's coronavirus executive orders

00h42 After failing to reach a deal with the U.S. Congress for a fresh round of coronavirus pandemic relief, President Donald Trump signed a series of executive orders aimed at pumping up America's pandemic-hit economy.. . .  Full story

Eastman Kodak's $765 million U.S. loan agreement on hold after recent allegations

08/08 Eastman Kodak Co's $765 million loan agreement with the U.S. government to produce pharmaceutical ingredients has been put on hold due to "recent allegations of wrongdoing," the U.S. International Development Finance Corp (DFC) said.. . .  Full story

Libya's National Oil Corp warns of dangers at oil ports

08/08 The chairman of Libya's National Oil Corp (NOC) on Saturday warned against the risk of a disaster at the country's oil ports due to a growing military presence with storage tanks held at capacity. . .  Full story

Coronavirus punishes Warren Buffett, as Berkshire Hathaway takes big writedown

08/08 Berkshire Hathaway Inc on Saturday announced a $9.8 billion writedown and 10,000 job losses at its Precision Castparts aircraft parts unit, as the coronavirus pandemic caused widespread pain at Warren Buffett's conglomerate.. . .  Full story

Trump advisers urge delisting of U.S.-listed Chinese firms that fail to meet audit standards

08/08 China on Saturday called for frank dialogue and closer cooperation in reaction to news that Trump administration officials had urged the U.S. president to delist Chinese companies that trade on U.S. exchanges and fail to. . .  Full story

Huawei to stop making flagship chipsets as U.S. pressure bites, Chinese media say

08/08 Huawei Technologies Co will stop making its flagship Kirin chipsets next month, financial magazine Caixin said on Saturday, as the impact of U.S. pressure on the Chinese tech giant grows.. . .  Full story

Nokia's new CEO working on setting strategy in 'dream job'

08/08 Nokia's new chief executive Pekka Lundmark said he will take time to re-acquaint himself with the Finnish telecom equipment maker as he works toward setting a strategy, as the company jostles for position in the. . .  Full story

HK regulators see limited sanctions impact as banks weigh action

08/08 Hong Kong financial regulators sought to calm market fears on Saturday as global financial firms in Hong Kong weighed cutting ties with local clients after the United States imposed sanctions on senior Hong Kong. . .  Full story

Botswana diamond exports fall by two thirds on COVID-19

08/08 Botswana's rough diamond exports plunged 68% percent in the second quarter of the year, data published by the central bank showed on Friday, as the Coronavirus pandemic hit demand while global. . .  Full story

U.S. sanctions branded "clowning actions" as HK vows it won't be intimidated

08/08 Beijing's top representative office in Hong Kong said on Saturday that sanctions imposed by Washington on senior Hong Kong and Chinese officials were "clowning actions" that would not frighten or intimidate Chinese people.. . .  Full story

Relief Therapeutics sees 60-70% chance of COVID-19 drug approval

08/08 Relief Therapeutics' chairman said he was optimistic its RLF-100 (aviptadil) drug will win approval for treating COVID-19 patients in a matter of months.. . .  Full story

NZ PM Ardern launches 'COVID election' campaign promising jobs

08/08 New Zealand Prime Minister Jacinda Ardern on Saturday launched her re-election campaign promising a "laser-like" focus on boosting jobs and economic growth hit by the COVID-19 pandemic.. . .  Full story

U.S. marks 160,000 COVID-19 deaths as relief talks fail in Washington

08/08 More than 160,000 people have died from COVID-19 in the United States, a Reuters tally showed on Friday, as President Donald Trump said he would unilaterally grant financial relief to Americans after talks. . .  Full story

WarnerMedia restructures to focus on HBO Max, senior executives out

08/08 WarnerMedia executives Bob Greenblatt and Kevin Reilly, who oversaw the creation of the HBO Max streaming business, will leave as part of a broad restructuring focused around the streaming service, the company said on. . .  Full story

Brazilian billionaire Lemann leads initiative to build COVID-19 vaccine factory

08/08 Brazilian billionaire Jorge Lemann's foundation and other business interests will fund the building of factory to produce the COVID-19 vaccine being developed by Oxford University and pharmaceutical company AstraZeneca PLC.. . .  Full story

U.S. judge denies bail to two men accused of aiding Ghosn escape

08/08 A U.S. district judge on Friday denied bail to two Massachusetts men accused of helping orchestrate former Nissan Motor Co Chairman Carlos Ghosn's escape from Japan.. . .  Full story

Latest on worldwide coronavirus spread

07/08 More than 160,000 people have died from the COVID-19 pandemic in the United States, nearly a quarter of the global total, according to a Reuters tally on Friday, as the country debates whether schools. . .  Full story

WarnerMedia ousts top streaming executives as part of restructuring

07/08 WarnerMedia's Bob Greenblatt and Kevin Reilly, executives who oversaw its HBO Max streaming business, will leave as part of a restructuring, the company said on Friday.. . .  Full story

Italy extends furlough support in new stimulus package

07/08 Italy approved on Friday a new stimulus package aimed at helping businesses and families survive the coronavirus crisis, while Rome waits to receive funds from the European Union's Recovery Fund.. . .  Full story

Abu Dhabi's Mubadala reports 7% stake in Virgin Galactic

07/08 Abu Dhabi state fund Mubadala Investment Co on Friday reported an over 7% stake in space tourism company Virgin Galactic Holdings Inc.. . .  Full story

Wall St Week Ahead-Bargain-hunters look to U.S. real estate stocks as S&P nears records

07/08 As the S&P 500 approaches fresh highs, some investors hope to pick up bargains in the battered U.S. real estate sector, where values of some major stocks have been cut in half this year.. . .  Full story

Dollar climbs after jobs data but logs 7th straight weekly fall

07/08 The U.S. dollar bounced on Friday after U.S. job growth for July helped ease some investor worries on the U.S. labor market, but the currency logged a seventh straight week of declines.. . .  Full story

Lebanon sees possible 'external interference' in port blast

07/08 Lebanon's president said on Friday its investigation into the biggest blast in Beirut's history would examine whether it was caused by a bomb or other external interference, as residents sought to rebuild shattered homes. . .  Full story

Dollar gains, stocks ebb after jobs data halts rally

07/08 The dollar bounced off two-year lows and a gauge of global equity markets halted its march toward a record high on Friday, as better-than-expected U.S. jobs growth in July was tempered by the. . .  Full story

Slowing job growth, stimulus worries weigh on Nasdaq

07/08 The Nasdaq closed lower on Friday, as data showed a sharp slowdown in U.S. employment growth and investors worried lawmakers would fail to agree on another fiscal stimulus bill to bolster the economy from. . .  Full story

U.S. stocks to rise regardless of Trump or Biden win, Guggenheim CIO says

07/08 Easing uncertainty will likely drive U.S. stocks higher after the Nov. 3 presidential election, regardless of whether Democratic candidate Joe Biden or Republican President Donald Trump wins, Scott Minerd of Guggenheim Investments said.. . .  Full story

Fisker has tentative deal for Magna to build its electric SUV in Austria

07/08 Electric carmaker Fisker Inc, which recently announced plans to go public through a merger with a so-called blank-check company, said on Friday it has a tentative deal for Canadian auto supplier Magna International Inc to. . .  Full story

Chile's peso drops 2% to lead losses among Latam FX; Mexican peso outperforms

07/08 Latin American currencies fell on Friday, with Chile's peso looking to post its biggest intraday drop in seven weeks as the dollar gained on its safe haven appeal after U.S. jobs data showed an. . .  Full story

Canada to impose retaliatory tariffs on U.S. goods, hopes for resolution

07/08 Canada will slap retaliatory tariffs on C$3.6 billion ($2.7 billion) worth of U.S. aluminum products after the United States said it would impose punitive measures on Canadian aluminum imports, a senior official said on Friday.. . .  Full story

Oil slips below $45/bbl on demand concerns but posts weekly rise

07/08 Oil prices fell nearly 2% on Friday, limiting their weekly gain due to concerns the global recovery could falter from a resurgence of coronavirus cases.. . .  Full story

C$ falls as trade spat with U.S. raises 'downside risk' for currency

07/08 The Canadian dollar fell against its broadly stronger U.S. counterpart on Friday as a trade squabble between Canada and the United States offset stronger-than-expected domestic jobs data, with the loonie giving back much of this. . .  Full story

Fed's Powell continued regular meetings with Treasury's Mnuchin in June

07/08 Federal Reserve Chair Jerome Powell continued to stay in frequent contact with Treasury Secretary Steven Mnuchin and top lawmakers in June, a month when the economy appeared to be recovering sharply from the coronavirus-induced recession,. . .  Full story

A look at Canada's aluminum industry as Trump reimposes tariffs

07/08 President Donald Trump on Thursday reimposed 10% tariffs on some Canadian aluminum products to protect the U.S. industry from a "surge" in imports, prompting Ottawa to slap retaliatory duties on C$3.6 billion ($2.69 billion) worth. . .  Full story

U.S. Postal Service chief warns of 'dire' finances, adopts manager hiring freeze

07/08 The head of the U.S. Postal Service (USPS) on Friday said the agency faces a "dire" financial position even as it posted a slightly narrower third-quarter loss as package demand soared during the coronavirus pandemic.. . .  Full story

Bearish supply outlooks spark selling in U.S. corn, soy, wheat

07/08 U.S. soybean futures fell for the fourth day in a row to their lowest since June 30 as expectations kept building that growing supplies will outstrip demand even as top buyer China steps up. . .  Full story

Gold's record breaking rally sputters on dollar bounce-back

07/08 Gold slumped over 2% on Friday, snapping its record-breaking rally, after a decent U.S. jobs report boosted the dollar, but a worsening pandemic kept prices on course for their longest streak of weekly gains. . .  Full story

Atlantia picks Partners Group for talks on Telepass sale

07/08 Italy's Atlantia said on Friday it had picked private equity firm Partners Group to start exclusive talks for the sale of a 49% stake in its toll-road payment business Telepass.. . .  Full story

'Bull everything' rally leaves investors wondering what to own

07/08 With assets of all stripes rallying and the S&P 500 Index approaching fresh records, investors are facing a dilemma: stay in or get out.. . .  Full story

Gulf energy ministers, Iraq see improving global economy in Friday call

07/08 Energy ministers from Gulf oil producing countries including Saudi Arabia and Iraq held a call on Friday and said they were encouraged by recent signs of improvement in the global economy, stressing the importance. . .  Full story

PDVSA changes oil deals to include shipping as sanctions bite -documents

07/08 Venezuelan state-run oil firm PDVSA has begun offering to ship its own oil, figuring in the costs in crude supply deals to help customers who have struggled to hire vessels to carry the country's. . .  Full story

Nokia's new CEO adopts wait and see strategy in 'dream job'

07/08 Nokia's new chief executive Pekka Lundmark said he will take time to re-acquaint himself with the Finnish telecom equipment maker before setting a strategy, as the company jostles for position in the highly political 5G. . .  Full story

Lebanon's battered economy dealt fresh blow after port blast hits 'Achilles heel'

07/08 Lebanon's economy, already sinking before the explosion that knocked out its main port, could now shrink by double the rate previously forecast for this year, making it even harder to secure the financing the. . .  Full story

Delta wants at least 3,000 flight attendants to take unpaid leave

07/08 Delta Air Lines Inc will need at least 3,000 of its roughly 20,000 flight attendants to take unpaid leave of four to 12 months, or consider other options, to avoid involuntary furloughs, a person. . .  Full story

Hezbollah denies storing weapons at Beirut port depot

07/08 Hezbollah's leader on Friday denied accusations that his Iran-backed movement has arms warehoused at Beirut port, calling for an investigation into the biggest explosion to hit the Lebanese capital.. . .  Full story

Ratings agencies warn Turkey it may need to hike rates

07/08 Ratings agencies warned Turkey on Friday that it will likely have to hike interest rates sooner or later as it runs out of options to defend the lira, which plumbed new depths against the. . .  Full story

U.S. oil & gas rig count falls to record low for 14th week -Baker Hughes

07/08 U.S. energy firms cut the number of oil and natural gas rigs this week to a record low for a 14th week even as higher oil prices prompt some producers to start drilling again.. . .  Full story

Livent CEO to EV industry: sign better deals or risk lithium supply

07/08 The electric vehicle industry must pay more for lithium in order to spur investment and prevent future supply crunches of the battery metal, the chief executive of lithium producer Livent Corp said on Friday.. . .  Full story

U.S. imposes sanctions on Hong Kong's Lam, other officials over crackdown

07/08 The United States on Friday imposed sanctions on Hong Kong Chief Executive Carrie Lam, the territory's current and former police chiefs and eight other top officials for what Washington says is their role in. . .  Full story

Lebanon navigates food challenge with no grain silo and few stocks

07/08 Lebanon's government holds no strategic stockpile of grains and Tuesday's blast destroyed the privately held stocks at its only large grain silo, the economy minister, a U.N. official and a regional grain expert told Reuters.. . .  Full story

Slowing U.S. job growth, rising COVID-19 raise doubts on the recovery's strength

07/08 U.S. employment growth slowed considerably in July, underscoring an urgent need for additional government aid as a resurgence of COVID-19 infections threatens to snuff out the nascent economic recovery.. . .  Full story

Copper drops to one-month low on profit-taking, higher dollar

07/08 Copper prices fell to one-month lows on Friday as a higher dollar triggered profit-taking on long positions, but expectations of stronger growth and demand around the world limited losses.. . .  Full story

'Only God can help': forlorn families await Beirut blast missing

07/08 As exhausted rescuers combed wreckage to find anyone still alive from the Beirut blast, three disconsolate families camped outside the port where their loved ones were last located.. . .  Full story

London stocks gain on week; U.S. jobs data, tensions with China weigh

07/08 London's FTSE 100 closed flat on Friday as a commodity-linked slump offset gains spurred by some upbeat earnings and AstraZeneca, while an index of more domestically-focused stocks rose as hopes grew of a trade. . .  Full story

Turkey mounts new defence of lira as locals snap up dollars

07/08 Turkey's central bank squeezed some credit channels and signalled on Friday it would do more backdoor policy tightening to arrest a record drop in the lira, as data showed Turks snapped up more foreign currencies. . .  Full story

German bond yields rise with U.S. job data not quite as bad as expected

07/08 Germany's 10-year borrowing costs rose on Friday, tracking U.S. Treasury yields higher, after U.S. employment data showed employment growth slowed considerably in July but not quite as much as economists had expected.. . .  Full story

Insured losses from Beirut blast seen around $3 bln-sources

07/08 Insured losses from the Beirut port warehouse explosion are likely to total around $3 billion, similar to those from an explosion at the Chinese port of Tianjin in 2015, industry sources and analysts say.. . .  Full story

European stocks end week with gains on telecoms, tech boost

07/08 European shares closed higher on Friday, marking weekly gains as investors focused on a broadly supportive earnings season and improving economic data in Europe rather than rising U.S.-China tensions.. . .  Full story

-Uber rides take COVID-19 hit but food-delivery business doubles

07/08 Homebound customers of Uber Technologies Inc more than doubled their orders from the company's food-delivery service in the second quarter but demand for ride-hailing trips only marginally recovered from pandemic rock-bottom.. . .  Full story

Dollar rebound spoils sterling's rally

07/08 Sterling resumed its role as a risk-driven currency on Friday and was on track for its biggest daily fall since June against the dollar, as global market sentiment turned sour after the latest standoff. . .  Full story

Japan kept activist investor in limbo over key Toshiba vote, sources say

07/08 Activist fund Effissimo Capital Management, the biggest investor in Toshiba Corp, was kept in limbo by Japan's government over a key shareholder vote until the day before the industrial conglomerate's annual meeting, two government sources. . .  Full story

Russia agrees to talks with Cyprus on double taxation agreement -finmin

07/08 Russia's finance ministry said on Friday it had agreed to a round of negotiations with Cyprus on Aug. 10-11 in Moscow over the fate of a bilateral agreement aimed at avoiding double taxation.. . .  Full story

Grape expectations as France forecasts more wine to flow in 2020

07/08 French wine production is likely to rise this year and harvesting could start early after warm weather, the country's farm ministry forecast, just as Italy and France try to curb premium output to support. . .  Full story

U.S. earnings recovery may be faster than in previous crises

07/08 U.S. companies' profit growth forecasts for the next five years are still intact, according to Refinitiv data, suggesting that the impact inflicted on companies by the coronavirus pandemic is likely to be more fleeting. . .  Full story

South Africa tries to recover over $23 mln from SAP for 'unlawful' contracts

07/08 South African investigators are seeking to recover more than 400 million rand ($23 million) from German software firm SAP for two government contracts they allege were entered into unlawfully, court documents. . .  Full story

Thousands of BA staff to lose jobs as airline pushes ahead with cuts

07/08 Thousands of British Airways staff will be sent letters telling them they have lost their jobs on Friday, as the airline pushes ahead with a plan to cut employee numbers by 29% in the. . .  Full story

TSX tracks fall in energy stocks as oil slips, Trump imposes tariffs

07/08 Canada's main stock index fell on Friday, weighed down by energy stocks as oil weakened on demand concerns due to a resurgence in coronavirus cases globally, and as U.S. President Donald Trump imposed tariffs. . .  Full story

Asia Gold-Soaring prices further erode lustre in pandemic-hit retail hubs

07/08 Physical gold remained out of favour in most Asian hubs this week as a worsening pandemic kept retail buyers away with global benchmark spot prices at historic highs, while logistical challenges plagued the Indian market.. . .  Full story

U.S. wholesale inventories decline further in June

07/08 U.S. wholesale inventories fell less than initially estimated in June, likely reflecting a rebound in goods imports after the COVID-19 pandemic disrupted trade flows.. . .  Full story

EU wheat harvest focus turns to Germany after poor French crop

07/08 The end of the soft wheat harvest in France has confirmed disappointing production in the European Union's biggest grower, with attention turning to Germany where improved conditions could limit an expected decline in EU output.. . .  Full story

Macquarie to start sale of Wheelabrator's UK waste-to-energy plants in Sept - sources

07/08 Macquarie Infrastructure Partners (MIP) is aiming to kickstart the sale of waste management company Wheelabrator's power plants in the UK in September, two sources with knowledge of the matter said.. . .  Full story

Iraq pledges to deepen oil output cuts in August, September

07/08 Iraq said on Friday it would cut its oil production by another 400,000 barrels per day in both August and September to compensate for its overproduction in the past three months.. . .  Full story

Sun Life says return of COVID-19 lockdowns in parts of Asia contribute to Q3 uncertainties

07/08 Sun Life Financial said on Friday strong wealth sales, particularly from Asia, in the second quarter helped offset declines elsewhere but the return of pandemic-driven lockdowns in parts of the region make for an uncertain. . .  Full story

Global economic policy response to the coronavirus crisis

07/08 Governments and central banks around the world have rolled out unprecedented fiscal and monetary support for economies that are reeling from the coronavirus pandemic. The following is a summary of. . .  Full story

Global central bank response to the coronavirus outbreak

07/08 Central banks worldwide have slashed interest rates in recent months, providing in some cases unprecedented amounts of stimulus to help soften the blow to the global economy from the coronavirus pandemic and to. . .  Full story

Brazil July inflation hits 4-year high, but annual rate still well below target

07/08 Brazilian inflation in July rose for that month the most in four years, figures showed on Friday, driven by fuel and housing costs, although the annual measure remained significantly below the central bank's year-end. . .  Full story

Portugal's EDP raises 1.02 bln euros to finance Viesgo deal

07/08 Portugal's largest utility EDP said on Friday it had raised 1.02 billion euros ($1.20 billion) from shareholders to partly finance the acquisition of Spanish electricity company Viesgo.. . .  Full story

Refining margins mired between OPEC+ and recession: Kemp

07/08 Global crude exporters and refiners are locked in a stand-off, as OPEC+ tries to drain excess crude stocks and lift prices and refiners face falling fuel consumption and shrinking margins.. . .  Full story

AngloGold Ashanti moots higher dividend as gold price boosts earnings

07/08 AngloGold Ashanti said on Friday it would consider paying a higher annual dividend after reporting a more than 200% jump in first-half earnings, driven by higher gold prices and a weaker. . .  Full story

Goldman Sachs cuts quarterly earnings citing legal provisions

07/08 Goldman Sachs Group Inc on Friday lowered its previously stated quarterly earnings as the bank set aside more money to pay for its settlement with the Malaysian government over the multi-billion 1MDB scandal.. . .  Full story

Sri Lankan shares retreat from session highs as consumer staples drag

07/08 Sri Lankan shares closed flat on Friday, as losses in consumer staples stocks offset gains made during the session after parliamentary elections handed President Gotabaya Rajapaksa and his older brother an overwhelming majority.. . .  Full story

German ministries propose bringing forward spending worth 26 bln eur - Spiegel

07/08 Germany's federal ministries have proposed bringing forward 26 billion euros' ($31 billion) worth of expenditure, Der Spiegel reported on Friday, to help Europe's largest economy recover from a coronavirus-induced historic slump.. . .  Full story

Activist shareholder ValueAct sells out of Rolls-Royce - source

07/08 Activist shareholder ValueAct Capital Management has sold out of British aero-engine maker Rolls-Royce, a source familiar with the matter said on Friday, ending its relationship with the company five years after it became its biggest. . .  Full story

ANALYSIS-Picking pennies: Dollar slump lifts U.S. bond returns for foreigners

07/08 A 10% decline in the value of the U.S. dollar since March has boosted returns for foreign investors in the world's largest government bond market at a time when U.S. Treasury yields are near. . .  Full story

Airline SAS secures more debt holder support for key part of rescue deal

07/08 Airline SAS said on Friday it had secured the support of more of its debt holders after revising conversion terms for a key part of the rescue plan it is negotiating with the Swedish. . .  Full story

Asia Distillates-Gasoil cracks see biggest weekly drop in 10 weeks

07/08 Asian refining margins for 10 ppm gasoil dropped on Friday, recording their biggest weekly decline in 2-1/2 months, as the region is awash with supplies due to higher exports from India and China. . .  Full story

Enel, Cinven's Ufinet interested in Oi's Brazilian fibre optics unit - sources

07/08 Latin American fibre optic network company Ufinet, owned by Enel and private equity firm Cinven, has made a non-binding offer for the fibre unit of Brazil's Oi, two sources familiar with the matter said.. . .  Full story

Hikma shares jump after improved sales outlook, COVID-19 drug deal

07/08 Hikma Pharmaceuticals raised the sales outlook for its two main divisions on Friday after first-half profit topped the London-listed company's expectations, while also announcing a deal to manufacture coronavirus treatment remdesivir.. . .  Full story

Hong Kong exchange seeks greater disciplinary powers

07/08 The Hong Kong stock exchange proposed increasing its disciplinary powers in a consultation document published on Friday, the first significant change to those powers in 27 years.. . .  Full story

UK's Rightmove says demand for homes has climbed since coronavirus lockdown

07/08 Demand for homes has grown in Britain since businesses reopened in mid-May, UK property website Rightmove said on Friday, as consumers reassessed housing needs and the government declared a holiday from the stamp duty that. . .  Full story

Hungary's stock market outperforms region as OTP Bank jumps on Q2 profit

07/08 Most Central European assets moved sideways on Friday with Hungary's stock market bucking the trend, driven higher by shares of OTP Bank which reported a profit for the second quarter and was upbeat about the. . .  Full story

Ceconomy looking for new CEO - sources

07/08 Europe's biggest consumer electronics chain, Ceconomy, is looking for a successor for interim Chief Executive Bernhard Duettmann whose contract, due to expire in October, has not yet been extended, four sources with knowledge of the. . .  Full story

U.N. agencies scramble to support Beirut blast victims

07/08 U.N. agencies are scrambling to support victims of the devastating warehouse blast in Beirut, which has undermined an already weak health care system in Lebanon, officials said on Friday.. . .  Full story

Sri Lanka president, brother tighten grip with big election win

07/08 Sri Lanka's parliamentary elections handed President Gotabaya Rajapaksa and his older brother an overwhelming majority, results showed on Friday, giving the family power to enact sweeping changes to the constitution of the island nation.. . .  Full story

Taiwan's July exports unexpectedly rise, but outlook uncertain

07/08 Taiwan's exports surprisingly rose in July after four months of falls, but the government warned of uncertainties as global coronavirus cases spike and U.S.-China tensions deepen.. . .  Full story

Hong Kong stocks post fourth straight weekly drop as Sino-U.S. tensions weigh

07/08 Hong Kong stocks ended lower on Friday and posted a fourth straight weekly drop, after the Trump administration unveiled a plan to ban U.S. transactions with ByteDance's TikTok and Tencent-owned WeChat.. . .  Full story

Standard Life CEO predicts tough markets after profit fall

07/08 Standard Life Aberdeen's clients switched to more defensive assets in the first half and the coronavirus pandemic meant tough times ahead, its outgoing CEO Keith Skeoch said after the asset manager's profit dropped 30%.. . .  Full story

Finnish steel firm Outokumpu shares fall on difficult Q3 ahead

07/08 Finnish stainless steel maker Outokumpu expects business to remain difficult in the third quarter, after second-quarter core operating profit halved from a year ago as the coronavirus crisis hit demand, it said on Friday, sending. . .  Full story

Russia's VTB says quarterly net profit down 93%, could slash dividends

07/08 Russia's second-largest lender VTB said on Friday its second-quarter net profit fell 93% as provisions against bad loans mounted amid the coronavirus crisis, prompting management of the state-run bank to recommend slashing dividends.. . .  Full story

Hargreaves profit jumps as stuck-at-home Brits turn to share trading

07/08 British fund supermarket Hargreaves Lansdown reported a surge in full-year earnings as the coronavirus crisis fuelled record levels of share trading and lured thousands of new clients to its trading platform.. . .  Full story