Ramla Soni

BT in talks to sell its stake in Openreach

May 15 2020 @ 10:34
Sale is to help finance the £12bn extension of BT’s full-fibre network BT is in talks to sell its stake in its Openreach division to infrastructure investors to help to finance the £12 billion extension of its full-fibre network. Potential buyers include Australian bank Macquarie and a sovereign wealth fund. Openreach, which maintains the UK’s […]
 

Singapore Airlines cuts capital spending by at least 12 per cent

May 15 2020 @ 10:33
New forecast of S$5.3bn or less by year ending March 31, 2021, compares with a S$6bn figure before the coronavirus pandemic Singapore Airlines Ltd will cut capital spending by at least 12 per cent from its previous plan this financial year, with the final reduction to be determined by talks with plane makers over delivery […]
 

Oil reaches one-month high amid increased signs of demand

May 15 2020 @ 10:32
Oil prices have risen more than 3 per cent, reaching more than one-month highs amid signs that demand for crude was slowly increasing with China reporting increased refinery runs. Brent crude was up $1.21 cents, or 3.9 per cent at $32.34 a barrel by 0707 GMT, after touching $32.44 the highest since April 14. Brent […]
 

Unemployment in France reaches 11-year low in first quarter

May 14 2020 @ 11:05
French unemployment dropped to an 11-year low in the first quarter as people without work were unable to look for jobs due to the lockdown triggered by  coronavirus. The INSEE stats quarterly unemployment survey found that the jobless rate fell to 7.8 per cent from 8.1 per cent in the fourth quarter, reaching its lowest […]
 

The US sees record $738 billion budget deficit last month

May 13 2020 @ 10:37
The US reported a record $738 billion budget deficit in April. A huge rise in government spending and decline of revenues amid the coronavirus pandemic pushed it deep into the red. The Treasury Department said the budget deficit in April reflected the magnitude of government spending that has been authorised to try to combat the […]
 

Global stock and oil prics fall at fears of second Covid wave

May 13 2020 @ 10:36
Global stock and oil prices plunged as investors feared a second wave of coronavirus after countries started to ease lockdowns. MSCI’s index of global shares was down 0.3 per cent, while the pan-European STOXX 600 index fell 1.6 per cent. Banks also performed low after several negative updates. Shares in Germany’s Commerzbank slid 3.2 per […]
 

UK economy declines 5.8 per cent in March, fastest pace on record

May 13 2020 @ 10:34
The UK economy declined at the fastest monthly pace on record in March as the coronavirus lockdown caused a fall in activity and demand. UK gross domestic product fell by 5.8 per cent in March compared with the previous month, the largest drop since the monthly series began in 1997, according to the Office for […]
 

PNC to sell 22 per cent stake in BlackRock

May 12 2020 @ 10:43
PNC Financial, BlackRock’s biggest shareholder, will sell its $17bn (£13.8bn, €15.6bn) stake in the asset manager, allowing the bank to go ahead with potential acquisitions. PNC holds a 22 per cent stake in the company that it purchased in 1995, representing about 35 million shares through common and convertible preferred stock. PNC’s decision to sell […]
 

Saudi Aramco earnings take 25 per cent hit

May 12 2020 @ 10:40
Saudi Aramco has reported a 25 per cent fall in first-quarter earnings, due to the oil price collapse and lack of demand stemming from the coronavirus pandemic. The state energy company reported net income of $16.7bn (£13.5bn, €15.4bn) in the first three months of the year, compared to $22.2bn a year earlier, as lockdowns reduced global […]
 

Inside the 2020 Bitcoin halving

May 12 2020 @ 10:37
The much-awaited Bitcoin halving event means that the reward for unlocking a ‘block’ has been cut from 12.5 new coins to 6.25 Bitcoin has gone through its third “halving“, reducing the rate at which new coins are created. The digital currency relies on “miners“, who run software that races to solve complex maths puzzles in […]
 
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