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Markets

Pandemic’s latest spread triggers surge in VIX ‘fear gauge’ for US stocks

Wall Street's "fear gauge" is on track for its biggest weekly jump since March as investors worried about rising U.S. and European coronavirus cases, the lack of fiscal stimulus and uncertainty about the U.S. presidential election outcome.

Markets

Visa profit falls 23per cent as payment volumes plunge

Visa Inc reported a 23per cent drop in quarterly profit on Wednesday, as spending volumes at the payment processor sank due to the COVID-19 pandemic.

Markets

EBay third-quarter revenue beats estimates

E-commerce firm eBay Inc's quarterly revenue topped Wall Street expectations on Wednesday, as people staying at home due to the COVID-19 pandemic flocked to bigger rivals for online shopping.

Markets

SoftBank attempted to delay WeWork’s US$3 billion share purchase: court filing

SoftBank Group CEO Masayoshi Son told the executive he tasked to turn around WeWork after its botched initial public offering to "use whatever excuse" to delay a US$3 billion payout to the office-sharing startup's shareholders, a court transcript released on Wednesday showed.

Markets

Google steps up campaign against EU push for tough new tech rules

Alphabet Inc unit Google has launched a 60-day strategy to counter the European Union's push for tough new tech rules by getting U.S. allies to push back against the EU's digital chief and spelling out the costs of new regulations, according to a Google internal document.

Markets

Economic cost of new EU tech rules could top US$100.5 billion, study says

The European Union's plan to rein in U.S. tech giants with new rules could cost the 27-country bloc as much as 85 billion euros (US$100.5 billion) in economic growth, Brussels-based think tank ECIPE warned.

Markets

Oil plunges over 5% as pandemic surges, US crude stockpiles, output soar

Oil prices fell more than 5 per cent, sending Brent to a four-month low on Wednesday as surging coronavirus infections in the United States and Europe lead to renewed lockdowns and expectations that unsteady economic demand will worsen.

Markets

JetBlue to review middle seat policy early next year: CEO interview

JetBlue Airways will continue limiting the number of seats it sells on each flight into the first quarter of 2021, when it will review a current policy of limiting capacity at 70per cent of the plane, Chief Executive Robin Hayes said in an interview on Wednesday.

Markets

Best of times, or the worst? A voter’s guide to US GDP

When accountants at the federal Bureau of Economic Analysis release the latest U.S. gross domestic product report on Thursday, it may be the most fought-over piece of economic data since the measure of broad productive output came into common use in the 1940s.

Markets

German watchdog launches new investigation into Amazon: report

Germany's anti-trust authority has launched an investigation into Amazon and Apple over possible anticompetitive behaviour, German Frankfurter Allgemeine Zeitung daily reported.

Markets

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