Category: Business

BRUSSELS Heineken said on Monday it had witnessed a gradual recovery of its business since the low of April, remaining uncertainty over COVID-19 containment measures left it unable to give a forecast for the rest of the year. The maker of Europe’s top-selling lager Heineken, Sol beer and Strongbow cider issued preliminary first-half results in […]

BEIJING China’s factory activity expanded at the fastest pace in nearly a decade in July as domestic demand continued to improve after the coronavirus crisis, though export orders and employment remained weak, a private business survey showed on Monday. The Caixin/Markit Manufacturing Purchasing Managers’ Index(PMI) rose to 52.8 last month from June’s 51.2, marking the […]

Gold prices surged to an all-time high on Monday as fears about the economic fallout from rising COVID-19 cases boosted demand for the safe-haven metal, although gains were capped by an uptick in the US dollar. Spot gold was steady at $1,974.29 per ounce by 0508 GMT, after hitting a record high of $1,984.66 in […]

HSBC on Monday said profits for the first half of 2020 plunged by 69 percent on year as the banking giant was hammered by the coronavirus pandemic and spiralling China-US tensions. The lender reported post-tax profits of $3.1 billion while pre-tax profit was $4.3 billion, a 64 percent drop on the same period last year. […]

TOKYO Asia’s factory pain continued to ease in July with contraction slowing in big export-reliant nations, adding to hopes the region is steadily emerging from the devastating hit of the coronavirus pandemic. Manufacturing activity in China expanded at the fastest pace in nearly a decade as domestic demand improved, a private sector survey showed on […]

LONDON/HONG KONG HSBC Holdings PLC warned of rising bad debt charges and a falling core capital ratio after posting a higher-than-expected 65% tumble in first-half pre-tax profit as the coronavirus pandemic hit the bank’s business worldwide. Europe’s biggest bank by assets reported on Monday a pre-tax profit of $4.32 billion for the first six months […]

SYDNEY Asian share markets turned mixed on Monday as U.S. lawmakers struggled to hammer out a new stimulus plan amid a global surge of new coronavirus cases, though a squeeze on crowded short positions left the dollar clinging to a tentative bounce. Sentiment was helped by a survey showing China’s factory activity expanded at the […]