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Wall Street rises with economic hopes
NEW YORK: U.S. stocks rose on Wednesday, with the S&P 500 closing above 3,000 for the first time since March 5, as the further easing of lockdowns lifted optimism for an economic recovery.
Genting’s theme park opening delayed by a year
Launch of showcase expected in late 2021 due to pandemic
Saudi wealth fund buys stakes in major US firms
DUBAI: Saudi Arabia’s sovereign wealth fund has bought minority stakes in major American companies including Boeing, Facebook and Citigroup, a regulatory filing showed, giving it a portfolio of nearly US$10bil in US-listed stocks.
Disney takes US$1.4bil coronavirus hit
BURBANK: Walt Disney Co investors got a taste of just how bad the coronavirus pandemic will be for the world’s largest entertainment company.
Disney takes US$1.4bil coronavirus hit, sets date to reopen Shanghai park
NEW YORK: Walt Disney Co estimated on Tuesday that global measures to contain the coronavirus pandemic cut profits by $1.4 billion, mostly from its shuttered theme parks, but said it would reopen Shanghai Disneyland to a reduced number of visitors next week.
Bank Negara expected to slash borrowings
HIGH on Malaysia’s event calendar this week is the announcement of Bank Negara’s overnight policy rate (OPR).
Netflix doubles expected signups but warns coronavirus boost may fade
Netflix Inc more than doubled its own projections for new customers as quarantined audiences binged on series such as "Tiger King, " but the company predicted a weaker second half of the year if stay-at-home orders to fight the coronavirus are lifted.
The new normal isn’t so bad
For many, this forced adjustment to the way we live, work and play has been disconcerting and ridden with anxiety.
Deal that brings together Bollywood and Hollywood
NEW YORK: Indian movie producer Eros International Plc is merging with privately-held US filmmaker STX Entertainment in an all-stock deal that brings together Bollywood and Hollywood.