Category: Business

Millions unemployed, homebuilding collapses

A record 22 million Americans have sought unemployment benefits over the past month, with millions more filing claims last week, almost wiping out all the job gains since the Great Recession and underscoring the toll on the economy from extraordinary measures to control the novel coronavirus outbreak. The deepening economic slump was also amplified by […]

Man GLG hires Asia equities head from rival BlackRock

Man GLG, the discretionary investment arm of asset manager Man Group (EMG.L), has hired Andrew Swan from rival BlackRock (BLK.N) to lead its Asia ex-Japan equities business, it said on Thursday. He will join the firm in Sydney in the third quarter to manage a long-only Asia ex-Japan equity strategy and will report directly to […]

Lazard boosts restructuring team

Lazard Ltd has bolstered its senior restructuring team as it seeks to win business from companies struggling to stay afloat in the midst of the economic turbulence caused by the global coronavirus pandemic. The U.S. investment bank has created a new London-based role for former Skadden Arps Slate Meagher & Flom partner, Chris Mallon, to […]

EasyJet CEO sees flying restarting with empty middle seats

The chief executive of easyJet (EZJ.L) said when flying restarts after the coronavirus crisis recedes planes are likely to operate with the middle seat empty due to social distancing regulations. He also told reporters on a call on Thursday that the airline would stay cash positive in the event that its fleet was forced to […]

U.S. probe unable to rule out White House influence on JEDI contract awarded to Microsoft, not Amazon

The Pentagon’s inspector general on Wednesday said it could not determine whether the White House influenced the award of a $10 billion contract to Microsoft Corp (MSFT.O) over Amazon (AMZN.O) after several officials said their conversations were privileged “presidential communications.” Known as Joint Enterprise Defense Infrastructure, or JEDI, the cloud computing contract is intended to […]

World stocks gain on stay-at-home profits, bond yields slide

World stock markets edged higher on Thursday on surging shares of Netflix and as investors anticipated big earnings from the coronavirus-induced slowdowns keeping people at home, while bond yields fell as data reflected record U.S. joblessness. Equities markets seesawed for most of the session as dire U.S. jobless claims data underscored a deep recession […]

Rebel Sherborne to withhold vote against Barclays boss in AGM

Sherborne Investors (SIGC.L) said on Thursday it would withhold its vote to reappoint Barclays (BARC.L) Chief Executive Jes Staley in the bank’s annual general meeting to prevent fresh boardroom turmoil as the bank grapples with the COVID-19 fallout. The rebel shareholder said it still believed Staley “to be unsuitable to continue” as a director of […]