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ReutersNissan and Renault shelve merger plans to repair their alliance: sources
Nissan has long resisted Renault's proposals for a full-blown merger as executives felt the French carmaker was not paying its fair share for the engineering work it did in Japan, sowing discord that some feared could wreck the partnership. "After the rain, the earth hardens," said one senior Nissan source, citing a popular Japanese proverb that means relationships become stronger after a period of strife. All five sources within the alliance, which also includes Mitsubishi Motors Corp, declined to be named because they are not authorised to speak with media.
ReutersGlobal Markets: Japan shares hit 10-week peak, S&P 500 tests 3,000
Asian shares forged ahead on Tuesday while U.S. stock futures challenged a major chart barrier as investors looked past Sino-U.S. trade tensions to more stimulus in China and a re-opening world economy. Japan's Nikkei <.N225> led the way with a rise of 2% to its highest since early March when the economic impact of the coronavirus was just becoming clear. MSCI's broadest index of Asia-Pacific shares outside Japan <.MIAPJ0000PUS> added 1.4%, while South Korea <.KS11> rose 1.1%.
ReutersOil climbs as suppliers stick to output cuts, coronavirus lockdowns ease
Oil prices rose on Tuesday on clear signs that producers are sticking to commitments to cut crude supply as more cars get back on the road with coronavirus lockdowns easing around the world. U.S. West Texas Intermediate (WTI) crude futures gained 2.3%, or 75 cents, to $34.00 as of 0057 GMT. Brent crude futures inched up 0.7%, or 23 cents to $35.76, adding to a 1.1% gain on Monday in thin holiday trading.
- Reuters
Novavax starts Phase 1 clinical trial of coronavirus vaccine candidate
Adjuvants are mainly used to make vaccines induce a strong immune response, including through the greater production of antibodies, and provide longer-lasting protection against viral and bacterial infection. Novavax said it expects preliminary immunogenicity and safety results from the trial in July. The announcement comes as drugmakers pause clinical trials for other ailments and race to find an antidote for COVID-19, the illness caused by the novel coronavirus which has infected more than 5.3 million people worldwide and killed over 343,000.
ReutersFujifilm research into COVID-19 drug spills into June, dashing hope of May approval
Research into Fujifilm Holdings Corp's <4901.T> Avigan will continue into June, Japan's government said on Tuesday, effectively dashing hopes by Prime Minister Shinzo Abe that the drug would be approved as a COVID-19 treatment this month. Abe had said he hoped the drug would be approved in May if its efficacy and safety could be confirmed. "The company will continue research into next month or so, and if an application for approval is received from the company, it will be promptly reviewed," Chief Cabinet Secretary Yoshihide Suga said at a regular briefing when asked about Avigan.
ReutersSingapore cuts 2020 GDP outlook again as virus batters economy
Singapore downgraded its 2020 gross domestic product forecast for the third time on Tuesday, the trade ministry said, as the bellwether economy braces for its deepest ever recession. The city-state lowered its GDP forecast to a contraction range of -7% to -4% from the prior range of -1% to -4%. Singapore's economy shrank 0.7% year-on-year in the first quarter and 4.7% on a quarter-on-quarter, a less severe decline than advance estimates, although officials and analysts warned of more pain ahead.
SingSaverZalora Promo Codes And Deals (2020)
Looking to get new clothes for your first day back to school or work once Circuit Breaker restrictions are lifted? You’re in luck because there’s always a sale happening on Zalora and we happen to know their promo codes. Nothing makes me happier than knowing […]The post Zalora Promo Codes And Deals (2020) appeared first on SingSaver Blog - We Compare, You Save.
SingSaverMcDonald’s Delivery Promotions: Happy Meals Are Back
After a mini hiatus (that caused many of us a minor heart attack), McDonald’s has reopened for delivery, takeaway and drive-through. Love it or hate it, but you cannot ignore McDonald’s. You’d most likely end up ordering in from here regardless of your mood or […]The post McDonald’s Delivery Promotions: Happy Meals Are Back appeared first on SingSaver Blog - We Compare, You Save.
Yahoo FinanceStock market news live updates: Stock futures open higher, Dow futures gain 200+ points
Stock futures rose Monday evening, pacing toward advances Tuesday when traders return from the Memorial Day holiday weekend in the U.S.
iCompareLoan.comUsual refinancing reasons could save you money and help consolidate debts
Usual refinancing reasons, the ones that you most often have, can help you save money and to consolidate debts By: Hitesh Khan/ Save Money To save money tops the list of most usual refinancing reasons. Saving money through refinancing can be achieved in two ways: By obtaining a lower interest rate that causes one's monthly [&hellipThe post Usual refinancing reasons could save you money and help consolidate debts appeared first on iCompareLoan Resources.
iCompareLoan.comHigher interest rates charged for for personal loans, but why?
Why are higher interest rates charged for personal loans? Because they are unsecured loans. By: Hitesh Khan/ You need money and fast. Without a great credit score or any type of collateral to your name, the only option is an unsecured personal loan. After searching the web, you have noticed the interest rates are substantially higher [&hellipThe post Higher interest rates charged for for personal loans, but why? appeared first on iCompareLoan Resources.
- Reuters
Merkel's conservatives want stimulus package to include tax relief - document
Chancellor Angela Merkel's conservatives are in favour of bringing forward tax relief measures worth at least 5 billion euros to help companies and consumers recover more quickly from the coronavirus pandemic, a document showed on Monday. Merkel's coalition government, which in March approved an unprecedented 750 billion-euro rescue package to shield Europe's largest economy from the impact of the coronavirus, is due next week to present additional stimulus to sustain the recovery. In a position paper seen by Reuters, lawmakers from Merkel's conservative bloc called on several measures to reduce the tax burden for the private sector, including making it simpler to offset losses against tax and speeding up already agreed tax cuts.
ReutersPortugal's TAP to restore more than 200 flights from July 1
Portugal's flag carrier TAP will resume some of its international operations to hard-hit Italy, Spain and various other destinations from the beginning of July as lockdowns imposed to combat the coronavirus are slowly lifted. A plan published on TAP's website on Monday showed around 240 weekly fights will operate between July 1 and 31, including 14 flights per week from Lisbon to Milan and Rome, as well as to Barcelona and Madrid. The airline, which under normal conditions operates around 2,500 weekly flights, is now running two flights a week from Lisbon to London and Paris, but will increase the frequency on those routes in July and add flights to Brussels, Berlin, Amsterdam and other cities across Europe.
Yahoo Finance'Oh my gosh... I didn't know': Joy, confusion over money allocated for niche U.S. schools amid coronavirus
What do a jazz school, a yeshiva, and a dog training academy have in common? They were all allocated hundreds of thousands of dollars by the Department of Education (ED) to help them weather the coronavirus pandemic.
ReutersWeak rupee leads Indian trade body to lift cotton export estimate
India's cotton exports could rise to 4.7 million bales in 2019/20, up 12% from the previous estimate, as a fall in the value of the rupee to a record low made shipments competitive, a trade body forecast. Higher exports by the world's biggest cotton producer could put pressure on global prices, which are trading near their highest level in more than two months. Indian exports could also limit shipments from rivals such as the United States, Brazil and Australia to key Asian buyers such as China, Bangladesh and Vietnam.
ReutersHundreds test positive for coronavirus at BRF meatpacking plant in Brazil
Hundreds of meatpacking workers at a single BRF SA plant in southern Brazil have tested positive for the novel coronavirus, the company said on Monday, amid global concerns about the pandemic disrupting food supplies. Brazilian meatpacker BRF said in a statement that nearly 340 people, or 6.6% of workers, at its Concórdia plant in Santa Catarina state had tested positive for the virus. The workers have been preemptively suspended from work based on the positive results from rapid testing and will now be submitted to slower but more accurate molecular diagnostic testing, BRF said.
- Reuters
Intesa expected to give preliminary green light to state-backed loan for FCA - source
Italian bank Intesa Sanpaolo is expected to give a preliminary green light at a board meeting on Tuesday to a state-backed 6.3 billion euro ($6.9 billion) three-year loan for Fiat Chrysler, a source close to the matter said. Fiat Chrysler (FCA) earlier this month said its Italian unit was working with Rome and Intesa Sanpaolo, Italy's biggest retail bank, to obtain state guarantees on a loan facility designed to help the group's operations in the country and the whole Italian automotive industry. Before the loan is granted, FCA's Italian unit will need to complete the approval process with Italy's export credit agency SACE, through which the state provides its guarantee, and then obtain a final authorisation and conditions for the loan from the Treasury.
- Reuters
Banks ignore Russia's first month-long liquidity auction in seven years
Banks mostly ignored the Russian central bank's first month-long liquidity auction in many years on Monday, preferring funds with shorter maturity in what the central bank described as evidence there is adequate liquidity in the system. The central bank normally provides the market with rouble liquidity at one-week repo auctions. For the first time since 2013, Monday's repo auction offered up to 500 billion roubles ($7 billion) to banks willing to park OFZ treasury bonds as collateral for a full month.
- Reuters
Russia sees global oil market balancing in June-July - RIA cites source
The comments come more than two weeks before the leading oil producers hold an online conference on how to further police their joint efforts to steady a global oil market hammered by overproduction and the blow to demand in the face of the coronavirus pandemic. The energy ministry declined to comment. The ministry expects global oil demand to improve this month and says supply has already dropped by 14 million to 15 million barrels per day (bpd), RIA said, adding that Moscow estimates the current global surplus at between 7 milllion and 12 million barrels per day (bpd).
- Reuters
Eight countries say gas deserves help as EU readies 'green recovery' fund
Eight European countries have urged the European Union to include natural gas in future funding, as the bloc's executive prepares to unveil its plan for a green economic recovery from the coronavirus pandemic. The European Commission will present on Wednesday its trillion-euro proposal for the bloc's next budget, alongside a coronavirus Recovery Fund to mobilise investments in line with its climate goals. Bulgaria, the Czech Republic, Greece, Hungary, Lithuania, Poland, Romania and Slovakia have asked Brussels not to exclude natural gas projects from future funding.
ReutersFrench carmaker Renault could close plants and cut jobs - union
French carmaker Renault could unveil job cuts and plants closures on Thursday as the company looks to save 2 billion euros ($2.2 billion) in costs, a representative for far-left union CGT said on Monday. Renault has called for a meeting with unions on Thursday regarding its cost-saving plans, the representative said. "This is when the general management will formalise what it calls a 2 billion (euro) cost-cutting plan, in which further staff reductions and even site closures can be expected," CGT representative Fabien Gache said in a video posted online.
ReutersIndia looks to store cheap oil in United States - oil minister
India is looking at storing some low priced U.S. oil in facilities there as its local storage is full, oil minister Dharmendra Pradhan told CNBC TV18 news channel. India's plan could be similar to a move by Australia, which last month said it would build up an emergency oil stockpile initially by buying crude to store in the U.S. Strategic Petroleum Reserve to take advantage of low oil prices. "We are exploring some possibility if we can store some of our investment in a different country ... we are exploring the possibility in the USA if we can store some of the low priced oil," Pradhan said.
Yahoo FinanceEmployers rethink talent and recruiting amid coronavirus
Genpact CEO Tiger Tyagarajan appeared on Yahoo Finance’s “The First Trade” to discuss how the coronavirus will accelerate the transition to a digital economy.
Yahoo FinanceWhy launching astronauts to space via SpaceX's crew capsule is a big deal
The first astronaut spaceflight launch from US soil in almost a decade is ready for liftoff this Wednesday.
ReutersBust-up over climate weighs on EU-UK talks, risks trade rifts
Britain's refusal to seal climate commitments in a new deal with the European Union to govern their relations after Brexit has become a stumbling block in their deadlocked talks and raises the risk of future trade disputes. While Britain has joined the global Paris agreement to fight climate change and has its own ambitious emissions-cutting goals, London has refused to make binding commitments in the area in the new deal it is seeking with the EU from 2021. "This creates big problems with the level playing field and is increasingly politically sensitive in the EU," said an official from the 27-nation bloc.
