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SINGAPORE: Most Asian economies will suffer their biggest blow from coronavirus containment measures in the second quarter of the year, even as the worst seems to have passed already for China, according to Morgan Stanley.
NEW YORK: The U.S. stock market has rebounded swiftly despite a raft of terrible economic news, driven by a massive boost from the Federal Reserve, hopes of a successful reopening of the economy and possible coronavirus treatments, as well as investors' fear-of-missing-out. But not everyone is buying the bounce.
TOKYO (The Straits Times/ANN): A Tokyo court has ruled against a single father, who accused his former employer Mitsubishi UFJ Morgan Stanley, of unjustly sidelining him after his only son was born, in the first paternity harassment judgment in Japan.
LONDON: Necker Island has been Sir Richard Branson’s personal fiefdom for 40 years. But as his Virgin-branded businesses are battered by the coronavirus crisis, the billionaire is turning to his Caribbean hideaway for cash.
BENGALURU (Reuters) - Facebook will spend US$5.7 billion to take just under 10% of Reliance Industries' digital unit, seeking to roll out services for India's grocers and other small businesses by capitalising upon WhatsApp's already extensive reach within the country.
NEW YORK: United Airlines Holdings Inc raised US$1bil by selling new shares, stepping up efforts to increase capital to survive a collapse in travel demand.
AMONG the key data this week, the US Bureau of Economic Analysis will release its advance estimate of the US gross domestic product (GDP) for the first three months of 2020 on Wednesday.
With lockdown restrictions from the coronavirus pandemic decimating many US businesses and tens of millions filing for unemployment, it’s no surprise Americans are fretting about their job security. To ease this uncertainty, many technology companies have decided to institute a "no-layoff” policy for their employees during these tumultuous times. Not only is this good for workers – it’s smart business, too.
SINGAPORE (Bloomberg): All three of Singapore's banks are expected to see profit declines for the first time since 2016 as they set aside cash for a potential spike in bad loans stemming from the coronavirus-fueled economic slump.
Chinese e-commerce firm Pinduoduo Inc has referred a case of suspected bribery of one of its staff by a manager at digital advertising firm Cue Holdings to the Shanghai police.