• China to strengthen policy, lower lending rates: PBOC governor
    Reuters

    China to strengthen policy, lower lending rates: PBOC governor

    China will strengthen its economic policy and continue efforts to lower interest rates on loans, central bank Governor Yi Gang said, reinforcing expectations of further support measures to revive an economy ravaged by the coronavirus pandemic. Yi, in an interview published by the central bank on Tuesday, said China's economic fundamentals are unchanged despite many uncertainties and reiterated that its current stance on monetary policy will be more flexible.

  • GlobeNewswire

    Amid the COVID-19 crisis and the looming economic recession, the Welding Machinery market worldwide will grow by a projected US$5.7 Billion, during the analysis period

    New York, May 25, 2020 -- Reportlinker.com announces the release of the report "Global Welding Machinery Industry" - https://www.reportlinker.com/p03915691/?utm_source=GNW An.

  • Fox Business

    Stormy weather puts damper on SpaceX's 1st astronaut launch

    Forecasters put the odds of acceptable launch weather at 40 percent

  • Did Changing Sentiment Drive Dafeng Port Heshun Technology's (HKG:8310) Share Price Down A Painful 75%?
    Simply Wall St.

    Did Changing Sentiment Drive Dafeng Port Heshun Technology's (HKG:8310) Share Price Down A Painful 75%?

    As an investor, mistakes are inevitable. But you have a problem if you face massive losses more than once in a while...

  • Oil Climbs Above $34 on Hopes Market May Balance in Coming Weeks
    Bloomberg

    Oil Climbs Above $34 on Hopes Market May Balance in Coming Weeks

    (Bloomberg) -- Oil rose above $34 a barrel following a prediction from Russia that the market may rebalance as early as next month after historic output cuts from global producers to drain a glut.Russia, a member of the OPEC+ alliance that has pledged to trim daily supply by almost 10 million barrels a day, expects the market to balance in June or July. Energy Minister Alexander Novak said global curbs have so far exceeded those agreed by the coalition. Futures in New York were 2.7% higher from Friday’s close after there was no settlement Monday due to a holiday.Oil has surged more than 80% this month as demand returned following the easing of lockdown restrictions in some countries, while output cuts have started to chip away at the oversupply. Despite expectations that a recovery will be long and uncertain, the International Energy Agency forecast oil consumption will be reduced only briefly before expanding past the level seen before the outbreak.The world consumed nearly 100 million barrels a day of oil last year, which some in the energy industry believe could mark the peak for demand. Their hypothesis is that the coronavirus pandemic will trigger changes of lifestyle like working-from-home and less overseas travel.“The market is starting to witness the effect of output cuts along with a reduction in inventories, while the global economy is on its path to recovery,” Will Sungchil Yun, commodities analyst at VI Investment Corp., said by phone from Seoul. “Still, there’s caution with the absence of a cure for the pandemic as well as the possibility of a second wave of infections.”Around the world, producers have slashed global production by 14 million to 15 million barrels a day so far, Russia’s Novak said on Monday. The nation sees the current global surplus at 7 million to 12 million barrels a day, according to a report from RIA Novosti.See also: Urals Oil Seaborne Loadings to Drop to 5-Year Low in JuneU.S. crude inventories at the U.S. storage hub of Cushing fell by the most on record in the week through May 15, while nationwide stockpiles have posted back-to-back declines. Shale explorers reduced the number of active oil rigs for a 10th week to the lowest level since 2009.Big oil’s annual general meetings in the U.S. and Europe this week should shed light on how heavily producers have been hit by lockdowns, with Total SA, BP Plc, Exxon Mobil Corp. and Chevron Corp. among those fronting shareholders.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.

  • Financial Times

    Asia stocks rise as lockdown easing boosts sentiment

    Stocks across Asia rose for a second day as growing optimism surrounding the easing of coronavirus lockdowns around the world helped investors shrug off concerns over escalating US-China tensions. Hong Kong’s Hang Seng index added as much as 2 per cent in early trading on Tuesday, despite persisting fears around a national security law that Beijing is set to impose on the semi-autonomous territory.

  • Are Insiders Buying China State Construction Development Holdings Limited (HKG:830) Stock?
    Simply Wall St.

    Are Insiders Buying China State Construction Development Holdings Limited (HKG:830) Stock?

    We often see insiders buying up shares in companies that perform well over the long term. On the other hand, we'd be...

  • Financial Times

    What coronavirus tells company boards about the next crisis

    Could board directors and executives have anticipated the pandemic? Yes, responded Louise Pentland, an executive at PayPal, the payments company, and a non-executive director of Japan’s Hitachi, during a recent webinar. Company directors have scrambled to respond to coronavirus and its consequences.

  • Financial Times

    US big business gets help first but who needs it most?

    The economic devastation wrought by Covid-19 is already far more severe than the aftermath of the financial crisis of 2008. When it comes to government relief, bailouts and how to get the economy on track, it is as if we have time-warped back a decade, into a fight in which is it once again small versus large, Wall Street versus Main Street, and populist progressive Democrat senator Elizabeth Warren versus the Treasury Department. In late May, Senator Warren grilled Treasury secretary Steve Mnuchin over why the Trump administration had failed to stipulate that the large corporations receiving government support would have to keep workers on staff.

  • Ruling party wins Burundi's Presidential vote
    Reuters Videos

    Ruling party wins Burundi's Presidential vote

    A ruling party candidate has won Burundi's presidential election, after decades of civil war. Retired general Evariste Ndayishimiye got 69 percent of votes, according to the electoral commission. It said voter turnout was 88 percent, from more than 5 million people registered to vote. But opposition groups say there was voter rigging, and police detained more than 200 electoral observers. Rights groups also documented political violence including extrajudicial killings and torture in the lead up to the vote. The vote was the first competitive presidential election since 1993 - with the incumbent forced to step aside after 15 years in power.

  • Bloomberg

    Samsung Heir Summoned for Questioning in Succession Probe

    (Bloomberg) -- South Korean prosecutors have summoned Samsung Electronics Co. Vice Chairman Jay Y. Lee for questioning in an ongoing investigation into alleged accounting fraud and a controversial 2015 merger of two Samsung affiliates, dealing another legal blow to the country’s largest corporation.While expected, the decision marked a deepening of a long-running probe into the billionaire scion and his shipbuilding-to-smartphones Samsung Group conglomerate. The company’s de-facto leader was called into Seoul Central District Prosecutors Office at 8 a.m. local time Tuesday in relation to allegations over illegal acts in succession plans, the Yonhap News Agency reported. The summons came after the executive publicly apologized over his company’s role in scandals over his succession, which eventually led to the impeachment of former president Park Geun-hye. A spokesman at the agency confirmed Lee has been summoned, without elaborating.Lee has been at the center of a years-long scandal and graft trial that inflamed long-standing resentments against Korea’s most influential family-run conglomerates. HE faces renewed charges of using gifts of expensive horses to win favor from the previous administration, which he has denied. The legal fight has disrupted his tenure at the helm of Samsung Electronics, the world’s leading producer of smartphones and memory chips. This month, the billionaire took the unusual step of apologizing for his role in the controversy, pledging his children would never run the conglomerate.“I give my word here today that from now on, there will be no more controversy regarding succession. There will absolutely be no infringement against the law,” Lee said at a hastily convened press conference at the time. “There will be no leaning on legal expediency or actions that cause ethical reproach. My sole focus will be on enhancing the corporate value of Samsung.”Read more: Samsung Heir Vows an End to Family Rule After Succession ScandalThe prosecutors office’s probe, which is separate from the corruption trial, centers on whether there were illegal acts during a merger between Samsung C&T Corp. and Cheil Industries -- the conglomerate’s de-facto holding company. That deal was regarded as an effort to cement Lee’s control over the conglomerate, which he has run since his father suffered a heart attack in 2014. Prosecutors are also likely to interrogate the heir about allegations of financial fraud at Samsung Biologics Co. The agency hasn’t brought any charges in the case so far. A Samsung Electronics spokeswoman declined to comment on Tuesday.Read more: The Never-Ending Trial Between a Billionaire Heir and His NationSamsung Group, South Korea’s largest conglomerate with more than $400 billion of market value, has grappled with legal issues for years. Dozens of current and former executives have been questioned, indicted or arrested over charges that range from graft and accounting issues to union-busting. Lee was imprisoned for about a year until his release in early 2018, then returned to court for a retrial last year when the scope of the alleged wrongdoing was revised. He again faces the possibility of jail.The current prosecutors’ probe kicked off after the country’s Financial Services Commission in 2018 said Samsung’s biotechnology unit “intentionally” violated accounting rules surrounding an initial public offering. The regulator said at the time the unit deliberately overstated the value of Samsung Bioepis Co. ahead of its 2016 IPO. Critics argued that Samsung Group orchestrated the accounting change to benefit the merger of Samsung C&T and Cheil Industries, which made Lee the largest shareholder at Samsung’s de-facto holding company and bolstered his succession plans.Samsung Biologics has denied the allegations and said its books were examined by external accounting firms, and that it had no impact on the 2015 merger as that was completed before the bio firm’s accounting change.(Updates with Samsung’s response in the fifth 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.

  • How Much Are Global Digital Creations Holdings Limited (HKG:8271) Insiders Spending On Buying Shares?
    Simply Wall St.

    How Much Are Global Digital Creations Holdings Limited (HKG:8271) Insiders Spending On Buying Shares?

    It is not uncommon to see companies perform well in the years after insiders buy shares. On the other hand, we'd be...

  • Thomson Reuters StreetEvents

    Edited Transcript of ABX.TO earnings conference call or presentation 6-May-20 3:00pm GMT

    Q1 2020 Barrick Gold Corp Earnings Call

  • Moody's

    China Shandong Hi-speed Financial Group Ltd -- Moody's assigns (P)Baa2/(P)P-3 and (P)A3/(P)P-2 ratings to Coastal Emerald's MTN program supported by a keepwell structure or guarantee, respectively

    Moody's Investors Service ("Moody's") has assigned ratings to Coastal Emerald Limited (Coastal Emerald)'s medium term note (MTN) program which can either issue instruments supported by a keepwell deed from Shandong Hi-Speed Group Co., Ltd and guaranteed by China Shandong Hi-speed Financial Group Ltd or a guarantee from Shandong Hi-Speed Group Co., Ltd (SDHG, A3 Negative). Moody's has assigned a (P)Baa2/(P)P-3 backed senior unsecured program rating for those instruments to be issued and supported by a keepwell deed from SDHG and guaranteed by China Shandong Hi-speed Financial Group Ltd. Moody's has also assigned a (P)A3/(P)P-2 backed senior unsecured program rating to the MTN program supported by a guarantee from SDHG. In addition, Moody's has assigned a P-3 rating to the proposed first takedown from the MTN program which is a short-term note supported by a keepwell deed from SDHG.

  • GlobeNewswire

    Amid the COVID-19 crisis and the looming economic recession, the Metal Cans, Barrels, Drums and Pails market worldwide will grow by a projected US$19.4 Billion, during the analysis period

    New York, May 25, 2020 -- Reportlinker.com announces the release of the report "Global Metal Cans, Barrels, Drums and Pails Industry" -.

  • Here's What Best Pacific International Holdings Limited's (HKG:2111) P/E Ratio Is Telling Us
    Simply Wall St.

    Here's What Best Pacific International Holdings Limited's (HKG:2111) P/E Ratio Is Telling Us

    Today, we'll introduce the concept of the P/E ratio for those who are learning about investing. We'll look at Best...

  • Thomson Reuters StreetEvents

    Edited Transcript of AXNX.OQ earnings conference call or presentation 5-May-20 8:30pm GMT

    Q1 2020 Axonics Modulation Technologies Inc Earnings Call

  • India first quarter GDP growth likely to be weakest since 2012: Reuters poll
    Reuters

    India first quarter GDP growth likely to be weakest since 2012: Reuters poll

    India's economy is likely to have expanded at its slowest pace in at least eight years in the January-March quarter, partly as a result of the coronavirus clampdown, a Reuters poll predicted. Asia's third-largest economy began slowing last year, but a countrywide lockdown implemented by Prime Minister Narendra Modi on March 25 halted economic activity completely. "Activity in January and February was strong, but the slowdown in March is likely to have largely offset those gains," Aayushi Chaudhary, an economist at HSBC in Mumbai, said.

  • Does Zhonghua Gas Holdings' (HKG:8246) Share Price Gain of 71% Match Its Business Performance?
    Simply Wall St.

    Does Zhonghua Gas Holdings' (HKG:8246) Share Price Gain of 71% Match Its Business Performance?

    Stock pickers are generally looking for stocks that will outperform the broader market. And in our experience, buying...

  • PR Newswire

    Annual General Meeting 2020 in Karo Pharma Aktiebolag

    At today's annual general meeting of Karo Pharma, the following decisions were passed.

  • Thomson Reuters StreetEvents

    Edited Transcript of BAKKA.OL earnings conference call or presentation 5-May-20 6:00am GMT

    Q1 2020 P/F Bakkafrost Earnings Presentation

  • Reuters

    Australia's borders will not open "anytime soon": PM Morrison

    Australia will not open the country's borders "anytime soon", Prime Minister Scott Morrison said on Tuesday, but added the country will continue its discussions with neighbouring New Zealand for a trans-Tasman safe travel zone. "I was speaking with Prime Minister Ardern this morning, and we'll continue to have our discussions about the trans-Tasman safe travel zone," Morrison told the National Press Club in Canberra, referring to New Zealand Prime Minister Jacinda Ardern.

  • Japan’s Hottest Stock Is Tiny Maker of $40 Million Machines
    Bloomberg

    Japan’s Hottest Stock Is Tiny Maker of $40 Million Machines

    (Bloomberg) -- The list of Intel Corp.’s annual supplier award winners tends to read like a who’s-who of the semiconductor industry’s biggest names. This year, it included a little-known Japanese company whose machines have become indispensable in the race to improve semiconductors and whose stock has been rocketing up as a result.Lasertec Corp. is the world’s only maker of testing machines required to verify chip designs for the nascent extreme ultraviolet lithography (or EUV) method of chipmaking. In 2017, Lasertec solved a key piece of the EUV puzzle when it created a machine that can inspect blank EUV masks for internal flaws. Last September, it cleared another milestone by unveiling equipment that can do the same for stencils with chip designs already printed on them. This March, Intel gave the tiny Yokohama-based company an award for innovation, its first after decades of doing business together.“That’s a major milestone for us,” Lasertec President Osamu Okabayashi said in an interview. “It means a lot to be recognized this way as a supplier.”The company’s stock has soared about 550% since the start of 2019, more than twice the gain of the second-best-performing security in the benchmark Topix index. Shares increased about 4% Tuesday, pushing its rise this year to more than 60%.Intel declined to say if it was buying EUV equipment from Lasertec, which already supplies test gear to its rivals Samsung Electronics Co. and Taiwan Semiconductor Manufacturing Co. The three chip fabricators are the only ones so far to announce EUV plans, because the technology is so complex and expensive. Okabayashi would only say that his company has “two or more” EUV customers.“This can be read as a sign that Lasertec’s tools are indispensable to Intel’s EUV roadmap.” said Damian Thong, an analyst at Macquarie Group Ltd.Read more: Japan’s Star Electronics Stock Will Be Vital to Intel, SamsungEUV is just entering the mass production phase after two decades in development, but investors are already betting Lasertec will be one of the key beneficiaries. The move to EUV overcomes key hurdles to shrinking manufacturing geometries of semiconductors, allowing more and smaller transistors to be crammed onto silicon. It promises to unleash another wave of gadgets that are slimmer, cheaper and more powerful.Last month, Lasertec raised its annual order forecast for the second time this year to 85 billion yen ($789 million) in the period ending June, nearly double the amount it received in fiscal 2019. The company is headed for the fourth straight year of record revenue and profits. Sales will climb 39% to 40 billion yen and profit will jump 76%, according to its estimates. And that’s likely to be just the beginning.Samsung earlier this month said it is building a 5-nanometer fabrication facility that will use EUV to make processors for applications ranging from 5G networking to high-performance computing from the second half of next year. Taiwan’s TSMC is pushing ahead with plans to adopt 3-nanometer lithography mass production in 2022 and announced plans to build an advanced fab in the U.S. Intel’s first product made using EUV is expected late next year.Their primary focus is on so-called logic processors, used to power devices and networking applications, but the new manufacturing technique will eventually filter through into the production of DRAM and other memory chips.Read more: Samsung Takes Another Step in $116 Billion Plan to Take on TSMC“Logic makers will be first to adopt EUV, with memory makers following later,” Okabayashi said. “The real volume of orders will come when they reach mass production stage. Right now it’s 7- and 5-nanometer chips. 3-nanometer is still in development stage.”Okabayashi expects each customer will probably need several of his testers, which could cost well over $40 million apiece and take as long as two years to build. A chipmaker would need at least one machine in its mask shop to make sure the stencils come out right. Another would go into a wafer fab to keep an eye on the microscopic wear and tear that result from concentrated light being projected repeatedly through the chip design stencils.“Lasertec is still trying to get a feel for this market and how big it can be,” Macquarie’s Thong said. “Their stock is moving on expectation of future orders. But there is little actual visibility on the scale of this market, so Lasertec retains a lot of capacity for surprise.”(Updates with share price in fourth 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.

  • Is Beijing Jingkelong Company Limited (HKG:814) Better Than Average At Deploying Capital?
    Simply Wall St.

    Is Beijing Jingkelong Company Limited (HKG:814) Better Than Average At Deploying Capital?

    Today we'll evaluate Beijing Jingkelong Company Limited (HKG:814) to determine whether it could have potential as an...

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