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Colin Huang stepped down as chief executive officer of Pinduoduo Inc after building the five-year-old startup into a force in China’s e-commerce industry and, in the process, becoming one of the country’s richest people.
INDONESIA’S central bank is close to an agreement to fund US$40bil of the government’s fiscal response to fight the coronavirus pandemic this year, the largest debt monetisation programme among emerging-market nations.
Three decades of advances took lithium-ion batteries from powering handheld Sony camcorders to propelling Tesla’s popular electric vehicles. The rapid rise is facing a major test in the Covid-19 pandemic.
NEW YORK: Shares of U.S. banks dropped on Friday, with Wells Fargo's stock falling more than 6% and Goldman Sachs Group Inc down 7%, after the Federal Reserve capped dividend payments and barred share buybacks until at least the fourth quarter after its annual stress test
BEIJING (AP): Asian stock markets followed Wall Street higher on Friday after US regulators removed some limits on banks' ability to make investments.
LONDON: UK equities have underperformed every year since the 2016 referendum, and have been a consensus underweight among money managers. Just as the long-shunned market was starting to recover from years of political instability and uncertainty over ties with the European Union (EU), the coronavirus pandemic has left the country facing its worst recession in 300 years.
BENGALURU: American Airlines Group Inc said on Sunday it plans to secure US$3.5bil in new financing, to improve the airline’s liquidity as it grapples with travel restrictions caused by the coronavirus.
NEW YORK: American Airlines Group Inc said on Sunday it plans to raise US$1.5 billion by selling shares and convertible senior notes, to improve the airline's liquidity as it grapples with travel restrictions caused by the coronavirus.