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Updated: 49 min 21 sec ago

Baltic index logs record jump as capesize demand spikes

Wed, 06/17/2020 - 10:13
The Baltic Exchange's main sea freight index posted its biggest ever daily percentage jump on Wednesday, propelled by a surge in capesize rates to a more than six-month high.
Categories: Business News

Nomura and partners launch digital asset custodian Komainu

Wed, 06/17/2020 - 10:00
Japanese bank Nomura Holdings Inc and cryptocurrency partners Ledger and CoinShares launched Komainu, a custodian to safeguard digital assets for financial institutions, on Wednesday.
Categories: Business News

Workplace search startup Onna gets $27 million in venture funding

Wed, 06/17/2020 - 10:00
Search startup Onna Technologies Inc, which helps companies find information buried within emails, chats and storage services, announced on Wednesday $27 million in new funding from venture capital firm Atomico and past investors such as Slack Technologies Inc .
Categories: Business News

U.S. Justice Department to propose rolling back protections for big tech

Wed, 06/17/2020 - 09:56
The U.S. Justice Department is preparing to proposes legislation as soon as Wednesday to try to remove protections that big tech platforms like Alphabet's Google and Facebook have had for decades, a department official said on Wednesday, speaking on condition of anonymity.
Categories: Business News

TREASURIES-Yields lower as coronavirus cases rise in Beijing, some U.S. states

Wed, 06/17/2020 - 09:52
U.S. Treasury yields edged lower on Wednesday as new outbreaks of the novel coronavirus and rising geopolitical tensions in Asia boosted demand for the safe haven debt. Benchmark 10-year yields have fallen from 11-week highs reached on June 5 when data showed that employers unexpectedly added jobs in May. Optimism over a quick economic recovery has been tempered by an increase in global cases of the coronavirus, with a new outbreak
Categories: Business News

Mars Inc says evaluating changing Uncle Ben's brand image

Wed, 06/17/2020 - 09:39
Mars Inc is "evaluating all possibilities" regarding changes to its Uncle Ben's rice brand image, the food company told Reuters on Wednesday, following news that PepsiCo Inc was dropping its Aunt Jemima brand.
Categories: Business News

US STOCKS SNAPSHOT-Wall St opens higher on hopes of swift economic recovery

Wed, 06/17/2020 - 09:36
Wall Street's main indexes opened higher on Wednesday, rising for a fourth straight session, as signs of more stimulus bolstered hopes of a quick economic rebound, even as six U.S. states saw a record rise in new coronavirus cases.
Categories: Business News

CANADA STOCKS-TSX opens higher on economic recovery hopes

Wed, 06/17/2020 - 09:35
Canada's main stock index opened higher on Wednesday, as signs of more stimulus and improving economic data lifted hopes of a sooner-than-expected recovery from the coronavirus-led recession.
Categories: Business News

UPDATE 1-Qatar Airways won't take new aircraft in 2020 or 2021, CEO says

Wed, 06/17/2020 - 09:25
Qatar Airways will not take any new planes ordered from Boeing or Airbus in 2020 or 2021, chief executive Akbar al-Baker said on Wednesday, adding there would be a knock-on effect to future deliveries due to the COVID-19 pandemic.
Categories: Business News

Google releases new ad features to help small businesses

Wed, 06/17/2020 - 09:00
Alphabet Inc's Google on Wednesday introduced new advertising features intended to help local businesses get more customers and recover from the coronavirus pandemic.
Categories: Business News

UPDATE 1-Acknowledging 'racial stereotype,' PepsiCo to drop Aunt Jemima name, brand

Wed, 06/17/2020 - 08:59
PepsiCo Inc will change the name and brand image of its Aunt Jemima pancake mix and syrup, it said on Wednesday, dropping a mascot criticized for a racist history.
Categories: Business News

Qatar Airways won't take new aircraft in 2020 or 2021, CEO says

Wed, 06/17/2020 - 08:56
Qatar Airways will not take any new planes from Boeing or Airbus in 2020 or 2021, chief executive Akbar al-Baker said on Wednesday, adding that there would be a knock-on effect to future deliveries due to the COVID-19 pandemic.
Categories: Business News

RPT-Norwegian salmon was not source of coronavirus at Beijing food market, says Norway minister

Wed, 06/17/2020 - 08:36
Chinese and Norwegian authorities have concluded that Norwegian salmon was likely not the source of the novel coronavirus that was found at cutting boards in a Beijing food market, the Norwegian fisheries and seafood minister said on Wednesday.
Categories: Business News

UPDATE 1-Louis Dreyfus adds venture capital unit, new innovation head

Wed, 06/17/2020 - 08:20
Agricultural commodities trader Louis Dreyfus Company has launched a venture capital programme to invest in food and farming firms while also announcing a change of head for its innovation business.
Categories: Business News

US STOCKS-Wall St set to extend 3-day rally on recovery hopes

Wed, 06/17/2020 - 08:16
* Futures up: Dow 0.68%, S&P 0.59%, Nasdaq 0.59% (Adds quote, details; Updates prices)
Categories: Business News

UPDATE 2-Lufthansa warns its $10 billion bailout deal is in jeopardy

Wed, 06/17/2020 - 06:27
* Would seek protection from creditors if it fails (Adds reaction, share price, shareholder structure)
Categories: Business News

Coronavirus vaccine could be on market in mid-2021 - CureVac

Wed, 06/17/2020 - 06:25
A vaccine against the coronavirus pandemic by CureVac could be on the market in mid-2021, the unlisted German company said on Wednesday.
Categories: Business News

Deals of the day-Mergers and acquisitions

Wed, 06/17/2020 - 06:00
The following bids, mergers, acquisitions and disposals were reported by 1000 GMT on Wednesday:
Categories: Business News

As Canada reopens, the search for PPE consumes company resources

Wed, 06/17/2020 - 06:00
Canadian companies are scouring the globe, often at great expense, to secure personal protective equipment (PPE) for staff and customers as businesses reopen and coronavirus restrictions are eased.
Categories: Business News

UPDATE 1-U.S.-Israeli fintech firm Pagaya raises $102 million in funds

Wed, 06/17/2020 - 05:51
U.S.-Israeli Pagaya, which uses artificial intelligence (AI) to manage institutional money, said on Wednesday it raised $102 million in a private funding round led by Singapore sovereign wealth fund GIC.
Categories: Business News