Global airlines add flights; U.S. carriers target the great outdoors

CHICAGO (Reuters) – Airlines from America to Australia are ramping up flights in June and July, boosting hopes for a pickup in tourist traffic even as bigger-spending business and global travel remains sluggish during the ongoing pandemic. American Airlines (AAL.O) and United Airlines (UAL.O) each announced more flights to key U.S. business and leisure destinations where national parks and outdoor […]

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Breakingviews – BlackRock is becoming the new, old Goldman Sachs

NEW YORK (Reuters Breakingviews) – It’s a force in myriad global markets. It’s the default source for governments needing advice on the biggest financial questions. Its sprawl means that sometimes it seems to be on both sides of certain dealings. That’s Goldman Sachs, before and during the financial crisis of 2008-2009. It also describes another company today: investment manager BlackRock. […]

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For U.S. economy, the bottom may be here, but the rebound is slow so far

WASHINGTON (Reuters) – The U.S. economy may have hit its low point in the coronavirus crash but the rebound so far remains tepid, according to both broad indexes of activity and higher frequency counts of cellphone data and employee time information. Indicators of retail foot traffic continued climbing last week. Cellphone location data from Unacast showed the nation overall now […]

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HKEX says many U.S.-listed Chinese firms plan Hong Kong listings

NEW YORK (Reuters) – Many U.S.-listed Chinese firms will likely list on the Hong Kong exchange this year, in part because of U.S. political pressure following China’s new national security legislation on Hong Kong, the head of the exchange said on Thursday. “This is going to be a big year for IPOs, including both huge IPOs from China, but very […]

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LVMH has explored coronavirus impact on Tiffany deal terms

PARIS (Reuters) – LVMH (LVMH.PA)’s board met this week to discuss the fallout from the coronavirus crisis on its $16.2 billion purchase of U.S. jeweller Tiffany (TIF.N), the luxury goods group said on Thursday, opening the door to a possible attempt to review the deal terms. LVMH, run by France’s richest man, Bernard Arnault, agreed to buy Tiffany in November, […]

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Citi defies coronavirus with Western European corporate lending push

LONDON (Reuters) – Citigroup (C.N) is looking to ramp up its commercial banking operations across Europe, Middle East and Africa, plugging gaps left by rivals facing fallout from a coronavirus-induced recession. The U.S. bank plans to expand its business lending division catering to companies with annual turnover between $25 million and $2.5 billion with a slew of new hires and […]

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South Korea seeks arrest of Samsung heir in succession probe

SEOUL (Reuters) – South Korean prosecutors have requested an arrest warrant against Samsung Group heir Jay Y. Lee, they said on Thursday, in the investigation of a controversial 2015 merger and alleged accounting fraud in a suspected bid to aid his succession plans. The move spells fresh trouble for Lee, who, if arrested, faces a return to jail just a […]

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Wall Street closes sharply higher on signs of economic rebound

NEW YORK (Reuters) – Wall Street rallied broadly on Wednesday with the Nasdaq approaching record highs as signs of an economic recovery from mandated shutdowns helped investors look beyond U.S. social unrest and pandemic worries. Financials, industrials and tech pushed the three major U.S. stock indexes well into the black. The S&P 500 and the Nasdaq each posted their fourth […]

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