Lufthansa cash-positive this summer, rescue deal on track – CEO
German airline Lufthansa (LHAG.DE) will generate positive cash flow this summer, while it should be possible to fully unwind a COVID-19 rescue package in a year’s time, CEO Carsten Spohr said late on Monday.
Correction in global stocks likely, funds trim equity allocations
A modest correction in global stock markets is likely by the end of this year, according to a slim majority of fund managers polled by Reuters who recommended trimming global exposure to equities in August in favour of bonds.
Robinhood shares tumble after PayPal news, SEC scrutiny of key revenue stream
Shares of Robinhood Markets Inc (HOOD.O), a popular gateway for trading meme stocks, tumbled nearly 7% on Monday on news that PayPal Holdings Inc (PYPL.O) may start an online brokerage and a report saying regulators were looking at a possible ban on a practice that accounts for the bulk of the company’s revenue.
Hong Kong’s strict quarantine rules threaten to erode allure of financial hub
Hong Kong’s government is facing growing pressure from business lobby groups to open borders or risk losing executives and investment as it shows no sign of easing one of the world’s strictest quarantine programs.
Germany’s LEG Immobilien considers foreign expansion, merger cast-offs
German property group LEG Immobilien (LEGn.DE) is looking at expanding abroad and would also consider buying flats from Vonovia (VNAn.DE) or Deutsche Wohnen (DWNG.DE) should their merger go through, its CEO told Reuters on Tuesday.
French Q2 growth revised up to 1.1%
The French economy rebounded slightly more strongly than first thought in the second quarter as consumer spending recovered after a coronavirus lockdown, the INSEE official statistics agency said on Tuesday.
McDonald’s, others consider closing indoor seating amid Delta surge in U.S.
Some U.S. fast-food restaurants are closing indoor seating areas or limiting hours of operation because of the spread of the Delta variant of COVID-19, according to franchisees.
Japan’s July factory output slips as COVID-19 hits car production
Japan’s industrial output shrank in July as car production took a hit from a coronavirus resurgence in Asia that has cast doubt over the recovery in the world’s third-largest economy.
China’s economy under pressure as factory activity slows in Aug, services contract
China’s businesses and the broader economy came under increasing pressure in August as factory activity expanded at a slower pace while the services sector slumped into contraction, raising the likelihood of more near-term policy support to boost growth.
Marketmind: Who’s rocking the boat now?
From Fed boss Jerome Powell on Friday to the Cleveland Fed’s Loretta Mester on Monday, the doves have been out in force, sending the dollar to two-week lows, Treasury yields below 1.3% and putting the S&P 500 (.SPX) on track for its longest monthly winning streak since 2018.
