(Bloomberg) -- Just over a month after turning more upbeat on the economy, the Bank of Israel is still unlikely to tinker with its near-zero interest rates even as it confronts a renewed surge in Covid-19 cases and strengthening shekel.Coronavirus infections plummeted after the government imposed a near-total shutdown from mid-March through late April, but opening up the economy has brought the disease back to new daily highs. The second wave of contagion is almost certain to complicate plans by the central bank to step aside in favor of a primarily fiscal response to the crisis, forcing investors to reassess its appetite for market intervention.While analysts surveyed by Bloomberg unanimously expect the monetary committee on Monday to leave the key rate at an all-time low of 0.1%, it may follow the U.S. Federal Reserve and consider more policy guidance or discuss a commitment to limit the yields on government bonds.“What we...
As of April 17, the original filing deadline, the IRS had processed 24 million fewer returns than it had last year, the Taxpayer Advocate Service said...
(Bloomberg) -- Luckin Coffee Inc.’s chairman, Charles Zhengyao Lu, was ousted by shareholders from the scandal-plagued Chinese company, just days after surviving an effort by some directors to strip him of control, Chinese web portal 163.com reported, citing unidentified sources.Three other board directors including Sean Shao were also removed at an extraordinary shareholders meeting in Beijing on Sunday, according to the report, and Ying Zeng and Jie Yang will be added as independent board directors.A company representative didn’t immediately respond to a request for comment.The removal of Lu is the culminating step in a major shakeup of top management since fabricated transactions dating back to April 2019 came to light earlier this year. The coffee chain already fired its chief executive and chief operating officers, among other employees, in May as it came under investigation by Chinese and U.S. regulators.The voting result ended a temporary reprieve for Lu, who remained chairman...
WINNIPEG, Manitoba/TORONTO (Reuters) - Six years ago, Canadian oilfield services firm Calfrac Well Services commanded a C$2.1 billion ($1.55 billion)market value and was poised for U.S. expansion. The Texas billionaire Wilks brothers, already its top shareholder, scooped up more of the company's debts in June, a regulatory filing showed, preparing to salvage what they can from restructuring. The Canadian industry has borrowed heavily to survive a series of catastrophes, and is facing C$6 billion in refinancing in the next six months, the Bank of Canada said in May....
