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Updated: 4 years 27 weeks ago

How an ill-timed bet on a U.S. oil refinery cost ICBCS millions

Wed, 03/04/2020 - 01:11
A team of ICBC Standard bankers celebrated in London last June after closing its first major U.S. refinery deal and gaining a foothold in the biggest energy market in the world.
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Oil clambers higher as OPEC, allies move closer to deeper output cuts

Wed, 03/04/2020 - 00:18
Oil prices jumped 1.5% on Wednesday on hopes that major producers have made progress towards sealing an agreement to implement deeper output cuts aimed at offsetting the slump in demand caused by the global coronavirus outbreak.
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Asian shares struggle for traction as Fed cut fails to boost confidence

Tue, 03/03/2020 - 23:08
Asian shares struggled to find footing on Wednesday and bonds held stunning gains, as an emergency rate cut from the U.S. Federal Reserve seemed to stoke rather than soothe fears over the coronavirus' widening global economic fallout.
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Resiliency test: How well can Chinese firms cope financially from a virus hit?

Tue, 03/03/2020 - 22:46
As companies in China gradually restart business following the extended Lunar New Year break, investors are fretting over the financial impact of the coronavirus outbreak that has squeezed cash flow and hammered revenues in many sectors.
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Amazon confirms first coronavirus case among U.S. employees

Tue, 03/03/2020 - 22:23
Online retailer Amazon.com Inc said on Tuesday an employee in the United States tested positive for the coronavirus.
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Oil rises as OPEC+ moves closer toward deeper output cut

Tue, 03/03/2020 - 21:41
Oil prices rose more than 1% on Wednesday on expectations that major producers have moved closer to an agreement to enact deeper output cuts aimed at offsetting the slump in demand caused by the coronavirus outbreak.
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Exclusive: SoftBank-backed CloudMinds blocked from exporting U.S. tech to China

Tue, 03/03/2020 - 21:10
SoftBank-backed startup CloudMinds has been blocked from sharing U.S.-origin technology with its China business, documents showed, illustrating how increased U.S. government restrictions are creating new headaches for tech firms and their investors.
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Asian shares struggle for traction as Fed cut fails to lift confidence

Tue, 03/03/2020 - 20:19
Asian shares wobbled on Wednesday and bonds held gains, as an emergency rate cut from the U.S. Federal Reserve did little to soothe investor fears over the coronavirus's widening fallout.
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HK's Bank of East Asia to review assets with Elliott Management

Tue, 03/03/2020 - 19:48
Hong Kong-based Bank of East Asia said on Wednesday it would carry out a comprehensive review of its portfolio of businesses and assets with the support of activist investor Elliott Management.
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U.S. Supreme Court leans toward SEC's power to recover ill-gotten gains

Tue, 03/03/2020 - 19:14
U.S. Supreme Court justices on Tuesday appeared inclined to back the Securities and Exchange Commission's power to use federal courts to force defendants to surrender profits obtained through fraud as part of enforcement of investor-protection laws.
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Asian shares poised to slide as surprise Fed cut fails to halt rout

Tue, 03/03/2020 - 19:09
Asian shares were poised to drop on Wednesday and bonds soared, after an emergency rate cut from the U.S. Federal Reserve was unable to quell investor fears over the coronavirus's widening fallout.
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SoftBank CEO hosts 'pre-IPO summit' in New York as he courts investors

Tue, 03/03/2020 - 19:08
SoftBank Group Corp Chief Executive Masayoshi Son held his first "pre-IPO summit" for the Japanese conglomerate's portfolio companies on Tuesday, introducing them to Wall Street investors who could be backing their stock market debuts.
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GM to tout its electric vehicles to investors swooning over Tesla

Tue, 03/03/2020 - 19:06
General Motors Co executives on Wednesday will tackle one of their toughest tasks: Persuading investors that a Detroit automaker can catch up with Elon Musk and Tesla Inc as vehicles go electric.
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Fed cuts rates to blunt coronavirus impact, markets drop

Tue, 03/03/2020 - 19:06
The U.S. Federal Reserve cut interest rates on Tuesday in a bid to shield the world's largest economy from the impact of the coronavirus, but the emergency move failed to comfort U.S. financial markets roiled by worries about a deeper, lasting slowdown.
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Fed's Evans expects virus impacts on economy to be short-lived

Tue, 03/03/2020 - 19:06
The coronavirus outbreak will likely have only a "short-lived imprint" on the U.S. economy, Chicago Federal Reserve bank President Charles Evans said on Tuesday night.
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Another foul day on Wall Street after surprise Fed rate cut

Tue, 03/03/2020 - 18:41
Wall Street tumbled in a volatile session on Tuesday after the U.S. Federal Reserve surprised investors with a half percentage-point cut in interest rates, amplifying fears about the magnitude of the coronavirus' impact on the economy.
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Wall Street prepares as coronavirus gets closer to home

Tue, 03/03/2020 - 18:24
Wall Street stepped up preparations to deal with the impact of the coronavirus on Tuesday, testing backup plans and asking employees to work from home, as a New Yorker tested positive for the virus, bringing the prospect of the spread of the infection closer to home.
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Nordstrom sales miss, sees 2020 earnings below estimates

Tue, 03/03/2020 - 18:14
Nordstrom Inc forecast a 2020 profit largely below market expectations on Tuesday, after the upscale apparel retailer missed estimates for fourth-quarter revenue, sending its shares down nearly 8% in after-market trading.
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Impossible Foods cuts prices of plant-based meat sold to distributors

Tue, 03/03/2020 - 18:06
Impossible Foods on Tuesday announced an average 15% cut in prices of its vegan products sold to U.S. distributors as the plant-based meat maker tries to make its patties more affordable to compete better with beef.
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Hewlett Packard Enterprise cuts cash flow outlook on coronavirus impact, shares down

Tue, 03/03/2020 - 18:00
Hewlett Packard Enterprise on Tuesday cut its free cash flow forecast for the year citing supply constraints due to the coronavirus outbreak, and reported a lower-than-expected quarterly revenue.
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