When Bryan Quevedo received his U.S. government stimulus check last month, he invested US$1,000 in the stock of bankrupt car rental company Hertz Global Holdings Inc .
No denying May's US$73 billion rebound in U.S. retail sales was an eye-popper and is the latest fodder to fuel the red-hot "V" vs "U" debate about what kind of recovery to expect from the COVID-19 recession.
Saudi Aramco has completed its purchase of a 70per cent stake in petrochemicals company Saudi Basic Industries for US$69.1 billion and extended the payment period by three years to 2028, providing a cushion against weak oil prices.
German flagship carrier Lufthansa said on Tuesday that the implementation of its bailout deal had not been secured and it might need to apply for creditor protection proceedings around the time of its extraordinary general meeting.
HSBC Singapore will not be affected by the bank’s planned global redundancies that would impact 35,000 staff in the medium term, according to sources close to the matter.
HSBC Singapore will not be affected this year by the bank’s planned global redundancies that would impact 35,000 staff in the medium term, according to sources close to the matter.
Beijing-based ByteDance, the privately owned operator of short video app TikTok, booked around 40 billion yuan (US$5.64 billion) in revenue for the January-March quarter, said two people with knowledge of the matter.
Taiwan will from the start of next week ease border controls put in place to prevent the spread of the coronavirus and will allow in business travellers from some lower-risk countries, though they will have to be tested and quarantined.
Indian newspapers, which just a few months ago had defied the global trend by gaining circulation, are now buckling under the weight of coronavirus losses that have killed some off and critically wounded other big names.
Facebook said Tuesday it plans to help four million Americans register to vote, and insists it can be a positive force in the presidential election later this year.
