The Trump administration is "turbocharging" an initiative to remove global industrial supply chains from China as it weighs new tariffs to punish Beijing for its handling of the coronavirus outbreak, according to officials familiar with U.S. planning.
Oil prices fell on Monday, paring last week's gains, on worries a global oil glut may persist amid slumping demand and U.S.-China trade tensions that could restrict an economic recovery even as coronavirus pandemic lockdowns start to ease.
The dollar inched higher, stock markets struggled for traction and oil dropped on Monday as a U.S.-China spat over the origin of the coronavirus put the brakes on optimism about an economic re-start as countries around the world ease restrictions.
South Korea's Mirae Asset Global Investments said on Monday that it has terminated a $5.8 billion deal to buy 15 U.S. hotels from China's Anbang Insurance Group [ANBANG.UL].
India's Reliance Industries Ltd said on Monday private equity firm Silver Lake will invest nearly $750 million in its digital arm, days after securing a $5.7 billion investment from Facebook Inc , boosting its efforts to cut debt.
Citigroup Inc has named veteran banker Kaleem Rizvi as its Asia Pacific head of the corporate banking business, according to an internal memo reviewed by Reuters on Monday.
Reliance Industries Ltd said on Monday private equity firm Silver Lake will invest nearly $750 million in its digital arm, days after securing a $5.7 billion investment from Facebook as the Indian conglomerate looks to pare debt.
Asia's factory activity was ravaged in April, business surveys showed on Monday, and the outlook dimmed further as government restrictions on movement to contain the coronavirus outbreak froze global production and slashed demand.
Qantas Airways Ltd said on Tuesday it had secured enough funding to last it through the end of next year, boosting its shares, as it reviews its fleet with the expectation that most international travel could take years to rebound.
Asian stocks rose on Tuesday, tracking a late Wall Street rally as governments eased coronavirus lockdowns while oil extended gains on expectations fuel demand would begin to pick up.
Wells Fargo & Co said on Monday it has received an "outstanding" rating on a U.S. regulatory test for community lending between 2012 and 2018.
United Airlines Holdings Inc plans to cut at least 3,400 management and administrative positions in October as the coronavirus pandemic crushes air travel demand, and has told pilots to brace for changes as well, according to two memos seen by Reuters.
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