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Tue, May 26, 2020
6:37 amMacau gambling king Stanley Ho dies aged 98
Macau gambling king Stanley Ho, who built a business empire from scratch in the former Portuguese colony and became one of Asia's richest men, died peacefully at the age of 98, his family confirmed on Tuesday.
6:35 amKorean prosecutors question Samsung heir in succession-related probe
Samsung Group heir Jay Y. Lee was questioned on Tuesday by prosecutors about a controversial 2015 merger and alleged accounting fraud that they said may have helped him advance his succession-planning agenda at the country's top conglomerate.
6:12 amWorld shares reach 10-week high, S&P 500 eyeing 3000
World shares forged ahead on Tuesday and commodity markets drove higher as well, as investors disregarded Sino-U.S. tensions to focus on more stimulus in China and a re-opening world economy.
6:10 amOil prices climb as faith in supply cuts grows
Oil prices rose on Tuesday, supported by growing confidence that producers are following through on commitments to cut crude supplies while fuel demand picks up with more cars back on the road as coronavirus lockdowns ease.
5:50 amTake Five: Coronavirus vaccine race is on
U.S. President Donald Trump has put his faith in anti-malarial drug hydroxychloroquine to ward off COVID-19, but governments and investors are focusing on a vaccine. Without one, it's unlikely economic activity can resume fully.
5:03 amLufthansa unit Eurowings to cut a third of head-office staff
Eurowings, the low-cost airline owned by Lufthansa , said it would cut a third of the jobs at its headquarters as part of wider efforts to return the German airline group to profitability after a major state bailout.
4:57 amUber cuts 600 jobs in India as lockdown hits business
Uber Technologies Inc will cut around 600 jobs in India as part of its plans to cut 23% of its global workforce, as the company navigates a lockdown that has brought businesses in the country to a grinding halt.
4:54 amU.S. stock futures rise 2% to 3,012 points
U.S. stock futures rose 2% on Tuesday and breached a major chart barrier as investors brushed aside China-U.S. trade tension and braced for a re-opening of the world economy.
4:42 amTencent to invest $70 billion in 'new infrastructure'
Chinese tech giant Tencent Holdings will invest 500 billion yuan ($70 billion) over the next five years in technology infrastructure including cloud computing, artificial intelligence and cybersecurity, the company said Tuesday.
4:26 amInsurer AXA to pay out to restaurants after court ruling
AXA said on Tuesday it would meet the bulk of claims from some restaurant owners after a Paris court ruled last week the French insurer should pay one owner two-months' worth of coronavirus-related revenue losses.
4:20 amMacau gambling king Stanley Ho's family confirms his death at age 98
Macau gambling king Stanley Ho, who built a business empire from scratch in the former Portuguese colony and became one of Asia's richest men, died peacefully at the age of 98, his family confirmed on Tuesday.
4:20 amCasino king Stanley Ho: the man who built the gambling hub of Macau
Macau gambling king Stanley Ho, who built a business empire from scratch in the former Portuguese colony and became one of Asia's richest men, died on Tuesday at the age of 98.
3:53 amLatin America's largest airline LATAM files for U.S. bankruptcy protection
Latin America's largest airline LATAM Airlines Group SA said on Tuesday the company and its affiliates in Chile, Peru, Colombia, Ecuador and the U.S. have filed for Chapter 11 bankruptcy protection in the United States.
3:25 amAston Martin confirms Mercedes boss Moers will replace CEO Palmer
Aston Martin confirmed on Tuesday that Tobias Moers, CEO of Mercedes-AMG, would become chief executive on August 1, replacing Andy Palmer who stepped down on Monday.
3:17 amEasyJet says finance chief Findlay to leave in 2021
British low cost airline easyJet said chief financial officer Andrew Findlay will leave the company in May 2021, and it had started the search for his successor.
2:08 am'This could be the one that gets me,' says oilfield service veteran
Tim Harris was preparing to relocate for an assignment with energy services firm Halliburton Co for the fifth time in 15 years when his career came to a halt.
2:05 amUber-rival Bolt raises 100 million euros
Ride-hailing service Bolt said on Tuesday it has raised 100 million euros ($109 million) from London-based investment firm Naya Capital Management in a deal valuing the European rival of Uber at 1.7 billion euros.
1:12 amExclusive: Cathay Pacific's brand merger hits roadblock from China's aviation regulator - sources
China's aviation regulator may make it difficult for Hong Kong's Cathay Pacific Airways Ltd to merge regional arm Cathay Dragon into its main brand because of infractions during last year's pro-democracy protests, two sources said.
12:52 amDaimler to invest in Chinese EV battery maker Farasis' $480 million IPO: sources
Daimler AG plans to invest in Farasis Energy's planned $480 million IPO, aiming to ensure a stable supply of batteries from the Chinese firm as it ramps up electric vehicle production, three people familiar with the matter said.
12:36 amWalmart's Mexico unit pays scaled-down tax of $358 million after government talks
Walmart de Mexico paid $358 million in taxes after talks with the Mexican government over an even larger sum authorities had aimed to charge the retailer for the sale of a restaurant chain, the company said on Monday.
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