Category: Business

Lufthansa warned on Thursday it will burn through more cash in the fourth quarter than in the third and that further restructuring measures will weigh on its results as it struggles to cope with the effects of the COVID-19 pandemic. As a result of continuing travel restrictions to curb the virus outbreak, Germany’s flagship airline […]

ArcelorMittal, the world’s largest steelmaker, reported third-quarter core profit above expectations on Thursday as the easing of COVID-19 lockdowns led to improved demand in all regions. The company, which makes around 5% of the world’s steel, said core profit (EBITDA) fell 15% from a year earlier to $901 million, compared with an average expectation of […]

U.S. stock market futures were marginally higher late on Wednesday as the presidential election race remained cloudy and the likelihood of gridlock in Congress made investors optimistic that major policy changes would be difficult to enact. S&P emini futures EScv1 were last up 0.1%, extending a rally in Wednesday’s stock market trading session. Nasdaq 100 […]

Allstate Corp ALL.N wants a potential Democratic administration to back a taxpayer-funded program that would pay for losses caused by the largest climate-change fueled natural disasters, the Illinois-based insurer’s chief executive said. Democratic presidential challenger Joe Biden was leading Republican incumbent President Donald Trump in electoral college votes on Wednesday evening, as the ballot count […]

Mom-and-pop investors who put in bids worth a record $3 trillion in China’s Ant group – equivalent to Britain’s annual economic output – were stunned after regulators abruptly suspended what would have been the world’s largest stock market debut. China blocked the fintech giant’s $37 billion listing on Tuesday, thwarting its debut in Hong Kong […]

The eleventh-hour halt to Ant Group’s record $37 billion listing has not only hurt the firm, but also lead bank China International Capital Corporation (CICC), which likely loses out on a hefty payday and a jump in global investment banking rankings. CICC 601995.SS3908.HK had the coveted position of being the only bank to work on […]

China suspended Ant Group’s 6688.HK record $37 billion listing just before its dual debut, sending the company scrambling to abide by new financial regulations. Here’s a timeline of key events leading up to the IPO suspension. SEPT 14: CHINA ISSUES NEW RULES FOR FINANCIAL HOLDING FIRMSChina issues new rules to regulate financial holding companies, with […]