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US consumer spending rebounds; falling income a threat

US consumer spending rebounds; falling income a threat

US consumer spending rebounded by the most on record in May, but the gains are not likely to be sustainable, with income dropping and expected to decline further as millions lose their unemployment checks starting next month.

Dutch airline KLM to get €3.4bn bailout package

Dutch airline KLM to get €3.4bn bailout package

The Dutch government said yesterday it would provide €3.4bn ($3.8bn) in support to the Dutch arm of Air France-KLM, capping months of wrangling with France over the role each country should play in a coronavirus rescue deal.

ECB’s Lagarde says ‘probably passed lowest point’ of economic crisis

ECB’s Lagarde says ‘probably passed lowest point’ of economic crisis

The worst of the economic crisis unleashed by the coronavirus pandemic is likely over, European Central Bank chief Christine Lagarde said yesterday, warning however that the new normal will look different from what was before.

Business council seeks robust Qatar-Ukraine ties in various sectors

Business council seeks robust Qatar-Ukraine ties in various sectors

As markets worldwide are gradually opening amid the novel coronavirus (Covid-19) pandemic, the Qatar-Ukraine Business Forum (QUBF) is currently working on different proposals to strengthen trade and investments relations in sectors, such as energy and innovation, among others, an official said.

Alibaba replaces CEO of Southeast Asian arm Lazada

Alibaba replaces CEO of Southeast Asian arm Lazada

Alibaba Group Holding Ltd has appointed a longtime veteran to replace Pierre Poignant as Lazada Group chief executive officer, the latest top-level reshuffle at the Chinese e-commerce titan’s Southeast Asian operation.

Bain to buy Virgin Australia in bold bet on shattered industry

Bain to buy Virgin Australia in bold bet on shattered industry

Bain Capital LP agreed to buy collapsed airline Virgin Australia Holdings Ltd in one of the biggest single bets on the industry since it was shattered by the coronavirus pandemic.

Tencent’s Twitch streaming rival is hiding in plain sight

Tencent’s Twitch streaming rival is hiding in plain sight

Tencent Holdings Ltd is rolling out a live-streaming service similar to Amazon.com Inc’s Twitch in the US, making a rare foray into American social media.

Samsung heir should not be indicted: Panel

Samsung heir should not be indicted: Panel

An external review panel in South Korea recommended that prosecutors should not indict Samsung Group heir Jay Y Lee over a 2015 merger and alleged accounting fraud, the Supreme Prosecutors’ Office said yesterday.

Australia’s $37bn fund targets more private debt for yield

Australia’s $37bn fund targets more private debt for yield

One of Australia’s largest pension funds plans to boost investments in private debt, concerned that stocks have rallied too far too fast and traditional bonds are offering meagre returns.

Asian markets mostly rise after Wall St rally

Asian markets mostly rise after Wall St rally

Asian equity markets bounced back yesterday from the previous day’s steep losses following a strong lead from Wall Street, but an increase in infections across the planet is fanning worries about a second wave.

Wall Street sees more bank stress ahead with Fed dividend moves

Wall Street sees more bank stress ahead with Fed dividend moves

Big bank stocks, including JPMorgan Chase & Co, Bank of America Corp and Wells Fargo & Co, continued Thursday’s post-market declines into Friday after the Federal Reserve said banks can’t increase dividends or resume buybacks through at least the third quarter as uncertainty over the Covid-19 pandem

Europe markets bounce back, but rise in virus infections fans fears of second wave

Europe markets bounce back, but rise in virus infections fans fears of second wave

Wall Street stocks fell yesterday as a rise in coronavirus cases raised the prospect of a slower US recovery, while European stock markets bounced back yesterday from recent losses, but an increase in global coronavirus infections fanned worries about a feared second wave, dealers said.

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