* Canadian dollar rises 0.1% against the greenback * Loonie touches its strongest since March 12 at 1.3727 * Price of U.S. oil decreases 1.5% * Canadian bond yields rise across the curve TORONTO, May 27 (Reuters) - The Canadian dollar strengthened against the greenback on Wednesday to its highest in about two-and-a-half months, as reports of a European Union rescue fund supported investor sentiment, helping to offset a pullback in oil prices. The price of oil, one of Canada's major exports, fell after U.S. President Donald Trump said he was working on a strong response to China's proposed security law in Hong Kong.
The Firmament Group ("Firmament"), a leading provider of tailored debt and equity capital solutions to small- and medium-sized enterprises (SMEs), announced today the formation and launch of Envase Technologies ("Envase" or the "Company"), a provider of cloud-based transportation management systems and mobile applications for intermodal transportation providers, including drayage carriers, third-party logistics companies, intermodal marketing companies, and global freight forwarders. Concurrent with the formation of Envase, Firmament completed an investment in Profit Tools, LLC ("Profit Tools"), complementing its existing investments in Compcare Services, LLC ("Compcare") and GTG Technology Group, LLC ("GTG").
Los Angeles, California--(Newsfile Corp. - May 27, 2020) - The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against HF Foods Group Inc. (NASDAQ: HFFG) ("HF Foods" or "the Company") for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.Investors who purchased the Company's securities between August 23, 2018 and March 23, ...
Amid the COVID-19 crisis and the looming economic recession, the Automotive Brakes And Clutches market worldwide will grow by a projected US$11.6 Billion, during the analysis period, driven by a revised compounded annual growth rate (CAGR) of 4.7%. OEM, one of the segments analyzed and sized in this study, is forecast to grow at over 5.3% and reach a market size of US$24.6 Billion by the end of the analysis period. An unusual period in history, the coronavirus pandemic has unleashed a series of unprecedented events affecting every industry. The OEM market will be reset to a new normal which going forwards in a post COVID-19 era will be continuously redefined and redesigned. Staying on top of trends and accurate analysis is paramount now more than ever to manage uncertainty, change and continuously adapt to new and evolving market conditions.
Sri Lanka's finances were fragile long before the coronavirus delivered its blow, but unless the country can secure aid from allies like China, economists say it may have to make a fresh appeal to the IMF or default on its debt. The IMF seems the obvious option -- Sri Lanka has already asked the Fund for a 'Rapid Credit Facility' -- but securing a new longer-term arrangement might not be straight forward. Sri Lanka's central bank sought to allay fears of a default in a statement last week, calling speculation "baseless" and vowing the country will "honour all its debt service obligations in the period ahead".
(Bloomberg) -- U.S. stocks rose for a third day as optimism mounts that the global economy is on the rebound from the pandemic hit. Treasuries slipped.The S&P 500 jumped back above 3,000 and its average price for the past 200 days, technical levels considered key by chart watchers. For a second day, stocks most punished by the coronavirus, from Carnival Corp. to United Airlines, surged as investors anticipate a sharp uptick in spending on non-essential goods and services. The tech-heavy Nasdaq 100 Index retreated as investors shunned the high flyers that dragged equities off their lows throughout April and much of May. Rising tensions with China also weighed on chipmakers.“The mood seems to be a glass-half-full way of looking at the world,” said Sameer Samana, senior global market strategist at Wells Fargo Investment Institute. Good news confirms the constructive case and bad news is viewed as either transitory, not significant, or something that could easily be solved by more liquidity and fiscal measures.”The Stoxx Europe 600 Index headed toward its third daily increase and Italy’s government bonds rose after details emerged of Europe’s package of grants and loans for up to 750 billion euros ($823 billion) to overcome the region’s deepest recession in living memory. The euro gained versus the dollar, pound and Swiss franc.Meanwhile, Asian stocks closed mixed in wake of the latest Sino-American flare-up, and China’s yuan slipped, nearing its weakest level on record against the dollar. WTI crude oil was steady at about $34 a barrel in New York.Investors are taking the new U.S.-China friction -- including possible sanctions over Beijing’s crackdown in Hong Kong -- in stride as they drive global stocks to levels not seen since early March on hopes that economies are beginning to recuperate after a deep downturn. The Federal Reserve’s “Beige Book” survey due for release later Wednesday may provide clues on the inflection point for the economy and near-term outlook for jobs.The recent equity rally “is an indication that investors are getting optimistic about the reopening of the economy and the drug-treatment development,” Katerina Simonetti, senior portfolio manager at UBS Private Wealth, said on Bloomberg TV. “We hope that it will eventually lead to a normalization in the market, but we have to keep an eye on the re-emergence of virus cases.”Elsewhere, Japanese equities advanced after Bloomberg reported that the Abe administration is compiling a new 117 trillion yen ($1.1 trillion) stimulus package. Shares in Hong Kong and Shanghai fell.Here are some key events coming up:The Fed will release its “Beige Book” economic survey Wednesday at 2 p.m. Washington time.Thursday brings the U.S. jobless claims reading for the week ended May 23.Federal Reserve Chairman Jerome Powell participates in a virtual discussion on Friday.Euro-area data due Friday is forecast to show consumer inflation fell to 0.1% on May from 0.4% the previous month.These are the main moves in markets:StocksThe S&P 500 Index gained 0.7% as of 9:39 a.m. New York time.The Stoxx Europe 600 Index increased 0.8%.Germany’s DAX Index advanced 2.1%.The MSCI Asia Pacific Index climbed 0.2%.CurrenciesThe Bloomberg Dollar Spot Index increased 0.1%.The euro increased 0.2% to $1.0999.The Japanese yen weakened 0.3% to 107.88 per dollar.The British pound declined 0.4% to $1.2279.BondsThe yield on 10-year Treasuries increased two basis points to 0.71%.Germany’s 10-year yield gained three basis points to -0.40%.Britain’s 10-year yield decreased less than one basis point to 0.214%.CommoditiesWest Texas Intermediate crude dipped 1.3% to $33.92 a barrel.Gold weakened 0.6% to $1,700.40 an ounce.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Gabelli Funds, in conjunction with G.research, will host its 12th Annual Entertainment & Broadcasting Conference on June 4. The conference will be held virtually. This research meeting will feature presentations by senior management of leading broadcasting and entertainment companies, with an emphasis on industry dynamics, new technologies and company fundamentals. It will also include a Sports Valuation Panel. Investors should contact their salesperson for more information or to register.
The music video, ON MY MIND, featuring Marcus Strickland, Bilal, Pharoahe Monch, Greg Tate, Ben Williams, EJ Strickland, and Storyboard P, will world premiere with Afropunk on Friday, June 5. The collaboration between Strickland and Storyboard P marks a historic moment—a bonafide jazz musician working with an established hip hop street dancer.
While nearly half of Ralph Lauren's stores in North America are now open, demand for clothing from high-end fashion companies is not expected to rebound quickly as the global economy enters a deep recession. Ralph Lauren said it expects its fiscal 2021 results to also be significantly hit by the health crisis.
European stocks and U.S. equity futures are firmly in the black as the pandemic recovery theme dominates. That is as investors continue to keep an eye on rising tensions between China and the U.S.
Los Angeles, California--(Newsfile Corp. - May 27, 2020) - The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against VMware, Inc. (NYSE: VMW) ("VMware" or "the Company") for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.Investors who purchased the Company's securities between March 30, 2019 and February 27, 2020, inclusive (the ...
"Republicans feel that Social Media Platforms totally silence conservatives voices," President Trump said. "We will strongly regulate, or close them down, before we can ever allow this to happen."
Brown Advisory recently released its Q1 2020 Investor Letter, a copy of which you can download below. The Large-Cap Growth Fund posted a return of -13.05% for the quarter, outperforming its benchmark, the Russell 1000 Growth Index which returned -14.10% in the same quarter. You should check out Brown Advisory’s top 5 stock picks for […]
(Bloomberg) -- The euro-area economy is faring worse than hoped, facing a recession as bad as the European Central Bank’s more pessimistic forecasts.Output is set to shrink between 8% and 12%, ECB President Christine Lagarde and Vice President Luis De Guindos both said on Wednesday, calling a milder scenario out of date. The remarks highlight the severity of the repercussions for Europe after businesses were forced to close because of the coronavirus pandemic, costing hundreds of thousands of jobs and furloughing millions more.The central bank and governments have ramped up spending to offer companies and households support, and the ECB chiefs spoke shortly before the European Commission proposed a new fiscal stimulus package that could be worth as much as 750 billion euros ($825 billion).“We’ll have a better sense in a few days as we publish our numbers in early June, but it’s likely we will be in between the medium and severe scenarios,” Lagarde said when asked about the outlook in an online question-and-answer session.The ECB is set to update its official projections for growth and inflation next, when the Governing Council also decides on policy. The central bank launched a 750-billion euro emergency asset-purchase program in March, and economists are increasingly predicting it’ll be boosted at the June 4 session.The asset-buying has helped rein in borrowing costs and made it easier for governments to fund stimulus.Bond yields fell further when the EU Commission unveiled its proposal for the recovery fund, which aims to underwrite the worst-hit parts of the bloc such as Italy and Spain with grants and cheap loans.The program, which still needs to win the backing of member states, would be funded by joint debt issuance in a significant step toward closer financial integration, according to details posted on the commission’s website.What Bloomberg’s Economists Say“Whether the proposal can withstand scrutiny from the European Union’s more frugal members remains to be seen. If it does, the support will be material. But, more than that, it will set an important precedent for mutualizing the cost of the pandemic.”-Jamie Rush and Maeva Cousin. Read their EUROPE INSIGHTLagarde expressed confidence that higher public spending won’t result in a new debt crisis in the euro area. Debt-servicing costs are “extremely low,” she said, adding that if economies are transformed to be made more efficient, productive and sustainable, then spending should be encouraged.“All countries around the world had to respond, and as a result of that had to increase their debt,” she said. In the face of the pandemic, “use of debt is not only recommended, it’s the way to go.”The president, 64, also had some advice for young people embarking on their careers in such challenging times.In the virtual event, which was targeted at European youth, she encouraged viewers to embrace the “beauty of the course of changes we are seeing” by acquiring new skills and being “prepared to do all sorts of jobs.”(Updates with EU plan starting in third paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
The fencing industry, like the construction sector overall, is seeing a significant impact from the ongoing COVID-19 pandemic in terms of both sales and production. Although this impact is expected to be most intense in the short-term, it could have lasting implications for the industry if habits developed during this crisis are retained.
Los Angeles, California--(Newsfile Corp. - May 27, 2020) - The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Liberty Oilfield Services Inc. (NYSE: LBRT) ("Liberty" or "the Company") for violations of the federal securities lawsInvestors who purchased the Company's securities in or traceable to the Company's January 17, 2018 initial public offering ("IPO"), are encouraged to contact the firm before June 2, 2020. ...
Foot Locker faces a number of challenges in the wake of the coronavirus pandemic, including a focus on shoes and store locations in malls, analysts say.
Stocks rise as investors look past rising tensions between Washington and Beijing over Hong Kong and focus on the reopening of the global economy.
Most readers would already know that Neogen's (NASDAQ:NEOG) stock increased by 8.9% over the past three months. Given...
Quantzig has announced the completion of its free resource that highlights how oil and gas companies must respond to the crisis.
The "Impact of COVID-19 on Telecoms" report has been added to ResearchAndMarkets.com's offering.