Some of the biggest technology companies in China have a representation in the country's newly-created national blockchain committee, a list of members published by China's Ministry of Industry and Information Technology has revealed.What Happened Tencent Holdings Ltd. (OTC: TCEHY), Baidu Inc. (NASDAQ: BIDU), e-commerce company Alibaba Group Holding Ltd.'s (NYSE: BABA) subsidiary Ant Financial, Huawei Technologies Co. Ltd., JD.com Inc. (NASDAQ: JD) -- all have some of their executives on the 71-member committee, according to a translation by The Block.Other members on the committee, called "National Blockchain and Distributed Accounting Technology Standardization Technical Committee," include representatives from various government agencies and educational institutes.The Chinese government hasn't shared any further details on the purpose of the committee.Why It Matters President Xi Jinping had called for more research and innovation in blockchain technology in October last year."Greater effort should be made to strengthen basic research and boost innovation capacity to help China gain...
(Bloomberg) -- Stocks in Europe fell along with American equity-index futures on Wednesday as a risk-off mood took hold while investors scoured corporate earnings to gauge the impact of the coronavirus outbreak. The dollar and Treasuries gained.The Stoxx Europe 600 index declined for the first time in five trading days, led by energy companies as crude oil in New York fell below $20 a barrel amid a slump in demand. ASML Holding NV, a supplier to Samsung Electronics Co., reported a 40% drop in first-quarter earnings and refrained from providing guidance amid uncertainty caused by the pandemic. Contracts on all three major U.S. gauges retreated after the S&P 500 closed at a one-month high on Tuesday.Shares in Tokyo were little changed, Chinese and Hong Kong stocks slipped, and Australian equities dropped as a record slump in consumer confidence reminded investors of the impact of the pandemic on spending. The yuan dipped...
(Bloomberg) -- China criticized U.S. President Donald Trump’s move to halt funding to the World Health Organization and pledged to support the global health body. Beijing said it had updated the WHO in a “timely” manner.New cases in Germany fell for a sixth day and the government will likely extend curbs until early May. Leaders across Europe are mapping ways to restart their economies and U.S. officials are also drafting plans to reopen businesses, the Washington Post said.The International Monetary Fund said the “Great Lockdown” recession will be the steepest in almost a century and the International Energy Agency warned global oil demand will plunge by a record 9% this year.Key DevelopmentsVirus Tracker: Cases reach 1.98 million; deaths top 126,000U.K. expands testing to care-home staff and residentsScientists weigh immunity; hyped Malaria pill doesn’t help in studyHackers have some of the best ideasIMF calls for yet more stimulus after the pandemicGermany Likely...
(Bloomberg) -- Stocks in Europe fell along with American equity-index futures on Wednesday as investors scoured corporate earnings to gauge the impact of the coronavirus outbreak. The dollar and Treasuries gained.The Stoxx Europe 600 index declined for the first time in five trading days, led by energy companies as crude oil in New York fell below $20 a barrel amid a slump in demand. ASML Holding NV, a supplier to Samsung Electronics Co., reported a 40% drop in first-quarter earnings and refrained from providing guidance amid uncertainty caused by the pandemic. Contracts on all three major U.S. gauges retreated after the S&P 500 closed at a one-month high on Tuesday.Shares in Tokyo were little changed, Chinese and Hong Kong stocks slipped, and Australian equities dropped as a record slump in consumer confidence reminded investors of the impact of the pandemic on spending. The yuan dipped after China’s central bank eased policy...
American Airlines (AAL) has announced that the U.S. Department of the Treasury has approved $5.8 billion in financial assistance from its Payroll Support Program (PSP).The funds, which are targeted to support team member salaries and benefits, will come in two forms: a direct grant of $4.1 billion, and a low-interest rate loan of $1.7 billion.What’s more, in addition to the $5.8 billion, American revealed that it is planning to separately apply for a loan from the U.S. Treasury of approximately $4.75 billion.Following the approval, American Airlines CEO Doug Parker stated “The Payroll Support Program recognizes the extraordinary dedication of our entire team, and importantly, sustains the critical air service being provided by our frontline team members.”The PSP, which was created through the Coronavirus Aid, Relief, and Economic Security (CARES) Act, protects AAL employees from involuntary furloughs or pay rate reductions through to September 30, 2020, at which point American hopes that...
