Business

Germany in Lufthansa bailout talks with key shareholder

The German government held talks with Lufthansa’s (LHAG.DE) biggest shareholder on Monday to persuade him to accept the terms of a 9 billion euro ($10 billion) coronavirus bailout that it has offered the airline group. Finance Minister Olaf Scholz voiced confidence that investors would approve the deal after he met Heinz Thiele, who owns 15.5% […]

Business

Global dollar crunch appears over as central banks rely less on Fed backstop

A global crunch for U.S. dollars that was a hallmark of the early moments of the coronavirus crisis appears to have passed, the latest milestone in a remarkable turnaround in financial conditions engineered by the Federal Reserve and other top central banks. Data from the Fed on Thursday showed its peer banks around the world […]

Business

U.S., Brazil protest Thailand’s pesticide ban over impact on wheat, soy exports

The United States and Brazil lodged separate protests with Thailand over its ban on two farm chemicals earlier this month, documents reviewed by Reuters show, saying the “restrictive” and “serious” move could hurt key agricultural exports. Bangkok’s pesticide ban could hit U.S. and Brazilian exports of wheat and soy that are worth more than $1 […]

Business

‘Total disaster’: Phantom billions plunge Wirecard into chaos

Wirecard said on Monday that 1.9 billion euros ($2.1 billion) it had booked in its accounts likely never existed, a black hole that threatens to engulf the payments company and tarnish the reputation of Germany’s financial watchdog. The one-time investor darling is holding emergency talks with its banks, which are owed roughly 1.75 billion euros, […]

Business

Wall Street ends higher with boost from technology stocks

Wall Street’s three major indexes closed higher on Monday with the biggest gains in technology stocks as investors focused on the potential for more government stimulus measures even as they worried about an increase in coronavirus cases in the United States and other countries. Nasdaq registered its fourth record closing high this month with the […]

Business

Apple switches to its own chips for Mac computers as it adds features, privacy controls

Apple Inc (AAPL.O) on Monday said it will switch to its own chips for its Mac computers, saying the first machines will ship this year and ending a nearly 15-year reliance on Intel Corp to supply processors for its flagship laptops and desktop. Apple Chief Executive Tim Cook said it marked the beginning of a […]

Business

Pandemic propels old-school bond traders towards an electronic future

The mammoth bond market has long been the old-school bastion of the financial world, but the COVID-19 pandemic has cast a light on its future – and it looks electronic. Well, mainly. At the height of the market panic in March, Seattle-based Brandon Rasmussen, a senior fixed-income trader at $300 billion asset manager Russell Investments, […]