• Gold ticks up on Sino-U.S. tensions over Hong Kong
    Reuters

    Gold ticks up on Sino-U.S. tensions over Hong Kong

    Spot gold rose 0.2% to $1,732.38 per ounce by 0241 GMT. U.S. gold futures were down 0.1% to $1,733.50. "The key supportive factor for the (gold) market is rising tensions between China and the U.S.; and if we see a further escalation, we would see another move higher in gold," said ING analyst Warren Patterson.

  • U.S. drilling industry says offshore ban would crush jobs, government revenues
    Reuters

    U.S. drilling industry says offshore ban would crush jobs, government revenues

    The report by the Washington-based National Ocean Industries Association comes as Biden and other Democrats hoping to unseat Republican President Donald Trump in November's election have vowed to shift the country away from planet-warming fossil fuels to help avert the worst impacts of climate change. "It's important for the public and policymakers to understand the ramifications, which are severe," NOIA President Erik Milito said in an interview about the study.

  • Deaths Top 346,000; Singapore to Unveil Stimulus: Virus Update
    Bloomberg

    Deaths Top 346,000; Singapore to Unveil Stimulus: Virus Update

    (Bloomberg) -- Dominic Cummings, Boris Johnson’s most senior adviser, refused to quit his job in the U.K. government, refuting claims he flouted lockdown rules that he had helped to draft. Germany agreed on a 9 billion euro ($9.8 billion) bailout for virus-hit airline Lufthansa.Japan ended its state of emergency everywhere in the country and made reviving the economy its top priority. Singapore is set to unveil a fourth stimulus package.The World Health Organization temporarily halted tests on hydroxychloroquine in its Covid-19 drug trials pending more data because of safety concerns.Key Developments:Virus Tracker: Cases top 5.4 million; deaths over 346,000Singapore economy could contract 7%, most since independenceGermany to take Lufthansa stake in landmark $9.8 billion bailoutVirus is cracking Germany’s defense against unemployment surgeJohnson aide refuses to quit over claim he breached lockdownSubscribe to a daily update on the virus from Bloomberg’s Prognosis team here. Click VRUS on the terminal for news and data on the coronavirus. For a look back at this week’s top stories from QuickTake, click here.Latam Airlines Files Chapter 11 Bankruptcy (12:11 p.m. HK)Latam Airlines Group SA, Latin America’s largest air carrier, sought bankruptcy court protection in New York after the Covid-19 pandemic grounded flights across the region.The Chapter 11 petition allows Latam to keep operating while the Chilean carrier works out a plan to pay creditors and turn around the business. Latam, whose shareholders include Chile’s Cueto family and Delta Air Lines Inc., continues to operate on a reduced schedule, and it has commitments for a bankruptcy loan of up to $900 million.Hong Kong to Reopen Karaoke Parlors, Resume Airport Transits (10:41 a.m. HK)Hong Kong will further ease social-distancing measures this week as concern over the coronavirus pandemic wanes.Karaoke parlors, bathhouses, party rooms and nightclubs will be allowed to return to business starting this Friday, Chief Executive Carrie Lam said at a regular press briefing. Transit services will gradually resume at the Hong Kong International Airport starting June 1, she said.Philippines Seeks $26 Billion Stimulus (10:03 a.m. HK)The Philippines’ Trade Department wants lawmakers to pass a 1.3 trillion peso ($26 billion) stimulus package that will aid the recovery of industries and workers.Of the total stimulus being discussed at the House of Representatives, about 628 billion pesos is planned for wage subsidies and loans for businesses hit by the lockdown, the Trade Department said in a statement. The remaining half of the proposed package will be used to build facilities for health, education and food security.Saudi Arabia to Ease Lockdown Restrictions: SPA (9:55 a.m. HK)Saudi Arabia said it will begin gradually easing coronavirus lockdown restrictions on May 28, the state-run SPA reported, citing the interior ministry.In the first phase May 28-30, travel is allowed in and between cities from 6 a.m. to 3 p.m., except for Mecca and Medina. Malls and stores should be open during that time with social-distancing considerations.China Reports 7 New Cases, All From Abroad (8:29 a.m. HK)China reported seven additional coronavirus cases by the end of May 25, with all of them from abroad, according to a statement from the National Health Commission. Of the seven cases, five were reported in Inner Mongolia.The country also reported 29 asymptomatic cases, with one of them from abroad. It had no coronavirus deaths for May 25.Singapore Slashes Growth Target With 7% Contraction Possible (8:01 a.m. HK)Singapore’s economy will probably contract 4% to 7% this year as the coronavirus outbreak and measures to contain it pummel the trade-reliant city state.The government revised its forecast from a previous projection for a contraction of 1% to 4% as the outlook for external demand deteriorates, the Ministry of Trade and Industry said in a statment.“There continues to be a significant degree of uncertainty over the length and severity of the Covid-19 outbreak, as well as the trajectory of the economic recovery, in both the global and Singapore economies,” the MTI said.Deputy Prime Minister Heng Swee Keat is set to unveil a fourth stimulus package in Parliament later Tuesday to further counter the economic pain.U.S. Resets Brazil Travel Limit (6:40 a.m. HK)The Trump administration advanced the effective time for limiting the entry of non-U.S. citizens traveling from Brazil, a nation that has the world’s second-most infections. The order will take effect at the end of Tuesday, two days earlier than stated in a proclamation issued Sunday by the White House.Air New Zealand Forecasts Loss (6:30 a.m. HK)Air New Zealand forecast its first full-year loss in 18 years as the pandemic halts travel, grounds aircraft and forces the layoff as many as 4,000 workers.The carrier will post an underlying loss in the year ending June 30 but can’t provide a range, it said Tuesday in Wellington. The airline will post an impairment charge on aircraft of at least NZ$350 million ($213 million), restructuring costs of as much as NZ$160 million and losses on fuel hedges of as much as NZ$105 million, it said.Airlines are reeling from the impact of the pandemic, forcing them to review fleets, routes and spending and seek government help. Germany on Monday offered Deutsche Lufthansa AG a $9.8 billion bailout. Air New Zealand agreed a NZ$900 million debt facility with the government in March.U.S. Says 200 Million Tests Possible (5:55 p.m. NY)The Trump administration said sufficient quantities of Abbott Laboratories’ ID NOW Covid-19 test and Quidel Corp.’s Sofia 2 instruments exist to support 200 million U.S. tests per month.The Department of Health and Human Services, in a report to Congress, said 18,000 ID NOW devices and 20,000 Quidel instruments are available to states. The U.S. also is buying 100 million swabs and 100 million tubes of viral transport media to help states meet testing goals.“This large-scale acquisition reflects a significant expansion of current capacity,” according to the report, and reflects use of the Defense Production Act to increase swab manufacturing.Minneapolis Mayor Worried by Church Rules (5:30 p.m. NY)Minneapolis Mayor Jacob Frey said he is concerned by Minnesota state guidelines taking effect on Wednesday that let churches resume services, with limits on attendance and requirements to follow social-distancing measures.“A move up to 25% capacity and up to 250 people in places of worship is a recipe in Minneapolis for a public health disaster,” Frey said Monday on CNN. “That is not the route that we can or should be going on right now.”Novavax Starts Vaccine Study (4:35 p.m. NY)Novavax Inc. began human testing of its coronavirus vaccine candidate and anticipates providing a first look in July at what sort of immune responses are generated.In the first phase, 130 healthy adult volunteers at two sites in Australia will get two doses of NVX-CoV2373, the biotech’s experimental vaccine. If initial results look promising, the company plans to quickly move into the second phase -- expand testing to other countries and age groups outside of 18 to 59.The Gaithersburg, Maryland-based company is one of about 10 that are testing vaccines, according to the World Health Organization. Moderna Inc. reported the first Covid-19 vaccine results in humans last week.U.S. Cases Rose 1.3%, Less Than Week’s Average (4 p.m. NY)U.S. cases increased 1.3% from the same time Sunday to 1.65 million, according to data collected by Johns Hopkins University and Bloomberg News. The increase was below the average daily increase of 1.4% over the past week, and has the same for three days.Deaths rose less than 1% to 97,948 from 97,424 -- the smallest one-day increase in more than a week.California Sets Church Limits (3:45 p.m. NY)California will limit attendance in houses of worship to 25% of building capacity or 100 people and is discouraging choir singing, group recitations and passing of the collection plate.“Convening in a congregational setting of multiple different households to practice a personal faith carries a relatively higher risk for widespread transmission of the Covid-19 virus, and may result in increased rates of infection, hospitalization, and death, especially among more vulnerable populations,” according to the guidance.The state is also discouraging potlucks or similar family-style eating and drinking events that increase the risk of cross contamination.England to Reopen Showrooms, Stores (2:50 p.m. NY)England’s outdoor markets and car showrooms can reopen from June 1, as soon as they can meet guidelines to protect shoppers and workers, Prime Minister Boris Johnson said as he urged the public to spend money in stores when the curbs are lifted.All other non-essential outlets including shops selling clothes, shoes, toys, furniture, books and electronics, plus tailors, auction houses, photography studios and indoor markets, are on track to reopen June 15 if the government can control the spread of the virus, Johnson told a daily news conference. Scotland, Wales and Northern Ireland are on a different timetable determined by local administrations.U.K. cases rose to 261,184. The government reported 121 new deaths, up from 118 a day earlier, bringing the total to 36,914.Dubai to Ease Limits Wednesday (2:20 p.m. NY)The emirate of Dubai will resume economic activities and ease lockdown restrictions starting Wednesday, the emirate’s media office said in a statement.Travel will be allowed from 6 a.m. to 11 p.m. local time. The airport will operate only for residents leaving Dubai, some clinics will reopen and elective surgeries that take up to 2 1/2 hours will be allowed, the statement said.Training academies, indoor sport venues, gyms and movie theaters will be open with social distancing in place.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.

  • GlobeNewswire

    Amid the COVID-19 crisis and the looming economic recession, the Pet Foods market worldwide will grow by a projected US$20.4 Billion, during the analysis period

    New York, May 26, 2020 -- Reportlinker.com announces the release of the report "Global Pet Foods Industry" - https://www.reportlinker.com/p097833/?utm_source=GNW An unusual.

  • Sansiri puts customers' health and safety first with convenient services, solutions and promotions in defiance of the pandemic, posting record sales of US$340 million in Q1 2020
    PR Newswire

    Sansiri puts customers' health and safety first with convenient services, solutions and promotions in defiance of the pandemic, posting record sales of US$340 million in Q1 2020

    Sansiri Public Company Limited, Thailand's leading full-service real estate developer, has been in the forefront of putting the safety of its employees, customers, partners and community first since the onset of the COVID-19 outbreak. Thanks to "Sansiri Care", the company's commitment to providing the best customer care is vital to Sansiri's success. Priding itself on customer trust, the company has performed exceptionally well, with record-breaking sales of US$340 million (Bt11 billion) in Q1 of 2020, up 70% YoY from 2019.

  • In land of big data, China sets individual privacy rights
    Reuters

    In land of big data, China sets individual privacy rights

    China is poised to enshrine individuals' rights to privacy and personal data for the first time, a symbolic first step as more of the country of 1.4 billion people becomes digitised - and more vulnerable to leaks and hacks. The legislation is part of China's first civil code, a sweeping package of laws that is being deliberated during the annual meeting of parliament, which began on Friday after a delay of more than two months due to the coronavirus. According to a recent draft, an individual has a right to privacy and to have their personal information protected.

  • Food Delivery Giant Meituan’s Sales Beat Estimates
    Bloomberg

    Food Delivery Giant Meituan’s Sales Beat Estimates

    (Bloomberg) -- Meituan Dianping’s shares soared after it reported a smaller than expected 13% slide in revenue that drove hopes the world’s largest meal delivery business is starting to recover as China emerges from Covid-19 lockdowns.Its shares climbed as much as 9.7%, extending strong gains since China began to return to normal in mid-March and propelling Meituan’s market value to more than $100 billion. That surge came after Meituan reported better-than-expected sales of 16.8 billion yuan ($2.4 billion) in the three months ended March. Morgan Stanley and CICC were among the brokerages that lifted their targets on Meituan, citing resilience across business lines and easing competition.Backed by Tencent Holdings Ltd., Meituan’s sprawling services from food delivery to in-store dining and hotel booking were among the most vulnerable to nationwide shutdowns. But its businesses had begun to climb out of the trough, offsetting severe slumps in areas such as hotels, executives told analysts on a Monday conference call. As of March’s final week, more than 70% of restaurants surveyed had recovered more than half their normal order volumes, while 30% had exceeded pre-pandemic levels, Chief Executive Officer Wang Xing said.“COVID-19 had a negative impact on Meituan but results beat on top-line and bottom line by a wide margin,” Bernstein analysts led by David Dai wrote. In food delivery, the “long run potential is still there and the profitability level can be much higher” after the company pushes advertising, they added.Longer term, the internet services giant will have to grapple with China’s worsening economy, which may further dent consumer spending. Subsidies and measures to help restaurants and merchants during the outbreak will again pressure profitability in the June quarter, executives said.Meituan reported a lower-than-projected net loss of 1.58 billion yuan, but that was after three successive quarters of profit.“Looking into the next three quarters, we believe there will still be challenges as there are still uncertainties and potential downside from the ongoing evolution of the COVID-19 situation,” Wang said on the call. “Meanwhile, a large number of local service merchants are still struggling for survival. Short-term profitability is not our top priority.”What Bloomberg Intelligence SaysMeituan’s near-term growth may weaken as its in-store dining, hotel and travel businesses take time to fully recover from China’s coronavirus outbreak. Operating efficiency will likely improve in the longer term as the company expands its market-leading scale and competition with Alibaba moderates. Broadening service categories and providing technology solutions for merchants will aid sales and profit growth.\- Vey-Sern Ling and Tiffany Tam, analystsClick here for the research.Before the outbreak, Meituan had pushed aggressively into adjacent arenas from online travel to ride-hailing. While revenue from the business that encompasses hotels and travel plunged 31% plunge during the March quarter, Meituan’s much smaller new initiatives segment -- which includes bike- and car-hailing -- grew sales 4.9%, aided by the launch of a new grocery delivery service. Hotels remained hardest-hit: in the week of May 11, domestic room nights were at about 70% pre-pandemic levels.While Meituan is expanding offerings to sell things like handsets and farm produce, rivals including Ant Group and SF Express, both backed by Alibaba Group Holding Ltd., are elbowing their way into Meituan’s core takeout business. Alibaba’s food-delivery arm Ele.me is also engaging in a subsidy battle with the startup for market leadership.(Updates with target increases by brokerages in second 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.

  • Three Things You Should Check Before Buying B&S Group S.A. (AMS:BSGR) For Its Dividend
    Simply Wall St.

    Three Things You Should Check Before Buying B&S Group S.A. (AMS:BSGR) For Its Dividend

    Dividend paying stocks like B&S Group S.A. (AMS:BSGR) tend to be popular with investors, and for good reason - some...

  • Ballard Celebrates 25 Years on Nasdaq Exchange
    CNW Group

    Ballard Celebrates 25 Years on Nasdaq Exchange

    Ballard Celebrates 25 Years on Nasdaq Exchange

  • Did You Participate In Any Of Sayona Mining's (ASX:SYA) Incredible 307% Return?
    Simply Wall St.

    Did You Participate In Any Of Sayona Mining's (ASX:SYA) Incredible 307% Return?

    Some Sayona Mining Limited (ASX:SYA) shareholders are probably rather concerned to see the share price fall 42% over...

  • Silver One Continues Drilling to Expand Down-Dip, High-Grade Silver Mineralization at Candelaria, Nevada
    Newsfile

    Silver One Continues Drilling to Expand Down-Dip, High-Grade Silver Mineralization at Candelaria, Nevada

    Vancouver, British Columbia--(Newsfile Corp. - May 26, 2020) - Silver One Resources Inc. (TSXV: SVE) (OTCQB: SLVRF) (FSE: BRK1) ("Silver One" or the "Company") is pleased to report analyses and tabulation of results for the final four holes of the diamond drill program recently completed at its Candelaria project, Nevada. Drilling intercepts continue to expand down-dip, higher-grade mineralization between Mount Diablo and Northern Belle pits as well confirming near surface lower-grade mineralization peripheral ...

  • A Rising Share Price Has Us Looking Closely At Komplett Bank ASA's (OB:KOMP) P/E Ratio
    Simply Wall St.

    A Rising Share Price Has Us Looking Closely At Komplett Bank ASA's (OB:KOMP) P/E Ratio

    Komplett Bank (OB:KOMP) shareholders are no doubt pleased to see that the share price has bounced 69% in the last...

  • Xinjiang Tianye Water Saving Irrigation System (HKG:840) Has Debt But No Earnings; Should You Worry?
    Simply Wall St.

    Xinjiang Tianye Water Saving Irrigation System (HKG:840) Has Debt But No Earnings; Should You Worry?

    The external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...

  • Reuters

    RPT-INSIGHT-More patients than beds in Mumbai as India faces surge in virus cases

    When Manit Parikh's mother tested positive for the new coronavirus, she was rushed by ambulance to Mumbai's private Lilavati Hospital, but officials told the family no critical-care beds were available. Five hours and dozens of phone calls later the family found a bed for her at the private Bombay Hospital. A day later, on May 18, Parikh's 92-year-old diabetic grandfather had breathing difficulties at home and was taken to the city's Breach Candy Hospital, another top private facility, but there were no beds.

  • Do You Know What Prim, S.A.'s (BME:PRM) P/E Ratio Means?
    Simply Wall St.

    Do You Know What Prim, S.A.'s (BME:PRM) P/E Ratio Means?

    Today, we'll introduce the concept of the P/E ratio for those who are learning about investing. To keep it practical...

  • Avicanna Reports First Quarter 2020 Financial Results and Provides Corporate Update
    CNW Group

    Avicanna Reports First Quarter 2020 Financial Results and Provides Corporate Update

    Avicanna Reports First Quarter 2020 Financial Results and Provides Corporate Update

  • Air New Zealand sees annual underlying loss due to coronavirus
    Reuters

    Air New Zealand sees annual underlying loss due to coronavirus

    Air New Zealand Ltd said on Tuesday it would report an underlying loss in the financial year ending June 30 due to the coronavirus outbreak, but had slashed costs to the extent it had not yet needed to draw down a government loan. The airline has cut 30% of its staff, or 4,000 employees, and will ground its fleet of 16 Boeing Co 777 widebody planes until at least the end of December. "We are preparing for a scenario in which the airline is still 30% smaller than pre-COVID levels in two years' time," Chief Financial Officer Jeff McDowall said in a statement.

  • Red Cross urges halt to cyberattacks on healthcare sector amid COVID-19
    Reuters

    Red Cross urges halt to cyberattacks on healthcare sector amid COVID-19

    Such attacks endanger human lives and governments must take "immediate and decisive action" to stop them, the letter stated. "We are hoping that the world's governments will step up to affirm their commitments to the international rules that prohibit such actions," said Peter Maurer, president of the International Committee of the Red Cross, in the letter. Microsoft Corp <MSFT.O> President Brad Smith and former U.S. Secretary of State Madeleine Albright are among the 42 co-signers of the letter initiated by the non-government CyberPeace Institute whose mission is to prevent the internet from becoming "weaponized."

  • China's food delivery giant Meituan hits $100B valuation amid pandemic
    TechCrunch

    China's food delivery giant Meituan hits $100B valuation amid pandemic

    Meituan's shares hit a record high on Tuesday, bringing its valuation to over $100 billion. The Hong Kong-listed giant, which focuses on food delivery with smaller segments in travel and transportation, is the third Chinese firm to reach the landmark valuation. Tencent-backed Meituan saw shares rally to HK$138 ($17.8) on Tuesday after it earmarked a smaller-than-projected decrease in revenue during Q1 and a net loss of 1.58 billion yuan ($220 million) after three consecutive profitable quarters.

  • Dow Jones Futures Jump On Memorial Day; Five Titans Near Buy Points In Coronavirus Stock Market Rally
    Investor's Business Daily

    Dow Jones Futures Jump On Memorial Day; Five Titans Near Buy Points In Coronavirus Stock Market Rally

    Futures jumped on Memorial Day, as the coronavirus stock market rally roars. Apple, Tesla and AMD are near buy points.

  • The No. 1 thing Americans are spending their stimulus checks on — even more than shopping at Costco, Walmart and Target
    MarketWatch

    The No. 1 thing Americans are spending their stimulus checks on — even more than shopping at Costco, Walmart and Target

    Nearly one-third (30%) of people said they used their stimulus checks to pay bills, according to a new survey released this week, another sign that Americans are struggling to make ends meet, particularly with more than 38 million people filing for unemployment since mid-March. The only other state where unemployment topped 20% was Michigan (22.7%).

  • Here’s What Fiera Milano SpA’s (BIT:FM) Return On Capital Can Tell Us
    Simply Wall St.

    Here’s What Fiera Milano SpA’s (BIT:FM) Return On Capital Can Tell Us

    Today we'll look at Fiera Milano SpA (BIT:FM) and reflect on its potential as an investment. Specifically, we'll...

  • Financial Times

    The sovereign wealth fund everyone is talking about

    One thing to start: LVMH’s billionaire owner Bernard Arnault (pictured below) has agreed to buy 25 per cent of Arnaud Lagardère’s holding company, coming to the aid of his fellow French businessman weeks after he saw off a challenge from an activist investor. The FT’s Leila Abboud in Paris breaks it down here. There are certain things that investors think but don’t say during a crisis, especially one triggered by a global pandemic that has claimed almost half a million lives worldwide.

  • Media People: Nick Knight Talks Fashion Films, the Death of Photography and Image-making in the Digital Age
    WWD

    Media People: Nick Knight Talks Fashion Films, the Death of Photography and Image-making in the Digital Age

    “I wish I was 18 again — there's so much to do. We're now fundamentally working on a different medium, which is free to access and global. There has never, ever been, in the entire history of our species, a way to speak to each other globally. And now, we're allowed to,” argues Nick Knight, the photographer, filmmaker and founder of ShowStudio in a wide-ranging interview.

  • My kids eat all the time! Americans save money on childcare, but spend more on groceries
    USA TODAY

    My kids eat all the time! Americans save money on childcare, but spend more on groceries

    Americans have saved money on childcare during the pandemic, but they are spending more on groceries and cleaning products, according to TD Ameritrade.

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