OCBC'S group CEO Samuel Tsien expects cumulative credit costs to be between 100 to 130 basis points (bps) over the next two years - higher than during the global financial crisis (GFC) and similar to the Sars period.
The fed funds futures market is pricing in negative U.S. interest rates next year, a scenario the Federal Reserve has said it wants to avoid as many doubt that it would be an effective tool to stimulate growth.
Chipotle Mexican Grill Inc has secured a new year-long US$600 million revolving credit line, a regulatory filing showed https://bit.ly/2SOtm6L on Friday, as the restaurant chain looks to deal with the fallout from the COVID-19 pandemic.
U.S. stock markets gained on Friday after data showed the economy lost fewer jobs in April than feared due to the coronavirus crisis, adding to optimism from an easing in tensions between Washington and Beijing.
Tesla Inc has not been given permission to resume operations at its vehicle factory in the San Francisco Bay area as local lockdown measures to curb the spread of the coronavirus remain in effect, a county health official said on Friday.
The U.S. Postal Service on Friday said its losses more than doubled to US$4.5 billion in the quarter ending in March and warned the economic slowdown spurred by the spread of COVID-19 could severely hurt its finances over the next 18 months.
Wirecard on Friday reshuffled its management board, including the appointment of a new compliance officer, as the payments system provider faces multiple regulatory probes into financial disclosure.
Bitcoin is about to undergo a scheduled technical adjustment as the number of new coins awarded the computer wizards who "mine" the cryptocurrency will be cut in half, but forecasting which way its price will move afterward is more complicated now.
Hackers linked to Iran have targeted staff at U.S. drugmaker Gilead Sciences Inc in recent weeks, according to publicly-available web archives reviewed by Reuters and three cybersecurity researchers, as the company races to deploy a treatment for the COVID-19 virus.
REUTERS: Shares of China's Kingsoft Cloud Holdings Ltd jumped over 25per cent on its U.S. market debut, indicating strong investor interest at a time when capital markets globally have been roiled by an economic crisis from the COVID-19 pandemic. Beijing-based Kingsoft opened at US$20.37 per share ...
