Thursday, 9 July 2020

Trading, underwriting soften profit plunge for some U.S. banks

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Trading, underwriting soften profit plunge for some U.S. banks

Trading and underwriting revenue could provide some comfort for big Wall Street banks that begin reporting results next week, although second-quarter profits likely plunged because of the coronavirus pandemic's impact on lending.

Another 1,300 jobs at risk in UK retail sector as John Lewis shuts eight stores

British department store chain John Lewis said on Thursday it would close eight stores, putting around 1,300 jobs at risk in another blow to the UK retail sector after the coronavirus pandemic accelerated a shift to online shopping.

British retailer Boots to cut 4,000 jobs

British health and beauty retailer Boots plans to cut 4,000 jobs and close 48 optician stores, in the latest major blow to the country's retail sector from the COVID-19 crisis.

Airbus first-half deliveries hit 16-year low despite June bounce

Airbus deliveries rose 50% in June compared with May and reached their highest level since the coronavirus crisis spread to Europe in March, but the accelerating recovery failed to prevent first-half deliveries from sliding to a 16-year low.

Oil steady as coronavirus fears offset gasoline recovery signs

Concerns about renewed coronavirus lockdowns in the United States outweighed signs of a recovery in U.S. gasoline demand on Thursday to keep a lid on oil prices.

S&P, Dow futures dip ahead of jobless claims report

Futures tracking the S&P 500 and Dow indexes edged lower on Thursday ahead of the closely watched weekly jobless claims report, with investors weighing the risk of another business shutdown amid soaring U.S. COVID-19 cases.

Dollar gives ground to higher-risk currencies as Chinese shares soar

The U.S. dollar fell against most currencies on Thursday as a rally in riskier assets such as global equities and commodities put a dent in safe-haven demand for the U.S. currency.

Tesla 'very close' to level 5 autonomous driving technology, Musk says

U.S. electric vehicle maker Tesla Inc is "very close" to achieving level 5 autonomous driving technology, Chief Executive Elon Musk said on Thursday, referring to the capability to navigate roads without any driver input.

YouTube not obliged to inform on film pirates, Europe's top court says

Google's YouTube is not required to hand over the email or IP address of users who upload films illegally to its video platform, Europe's top court ruled on Thursday, saying there must be a balance between protecting personal data and copyright.

German prosecutors probe Wirecard for money laundering

German state prosecutors are investigating Wirecard for suspected money laundering, a spokeswoman for the Munich prosecutor's office said on Thursday.

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