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Barely three months ago, Serge Dumas had one problem: how to keep up with record demand for the metal fasteners and bolts his small aerospace supply firm manufactures just north of Toulouse. Now, the head of Gillis Aerospace is wondering how to keep his 45 employees busy as Europe's aerospace capital reels from plummeting jetliner demand caused by the coronavirus crisis. Gillis Aerospace, with annual revenues of 5 million euros, is one of thousands of small to medium-sized firms hurt by the crisis as the French government and private lenders finalise a 1-billion-euro fund to help the sector....
Chinese internet giant NetEase, Inc. (NTES) has now announced the pricing of its global offering of 171.48M new ordinary shares at HK$123 per share.Based on the ratio of 25 ordinary shares per Nasdaq-listed American depositary share (ADS), this translates to approximately $397 per ADS.According to NetEase, this price is based on the closing price of the ADSs on June 4, 2020 (the latest trading day before pricing).The global offering is made up of an International Offering of 166.3M shares and a Hong Kong Public Offering of 5.15M shares.Subject to approval from The Stock Exchange of Hong Kong Limited, NetEase shares are expected to begin trading on the exchange’s main board on June 11, 2020 under the stock code “9999.”The international offering is expected to close on the same day, subject to customary closing conditions.NetEase is looking for gross proceeds from the global offering, before underwriting fees and offering expenses, of approximately HK$21,092 million.These...
Jun.08 -- Yamini Aiyar, president of think tank Centre for Policy Research, examines Indian Prime Minister Narendra Modi's response to the coronavirus outbreak. India has been under a stringent nationwide lockdown since late March, even though some restrictions were eased beginning April 20 to allow select industries to resume operations. The government will begin a phased lifting of the curbs from June 8. Aiyar spaeks on "Bloomberg Markets: Asia."...
Longer-term gold investors really don’t have a lot to worry about because we are 100% certain the Fed is not going to raise interest rates for years....
"Gold is going to struggle to clear the $1,700 level again." Market participants are now waiting for the U.S. Federal Reserve's two-day policy meeting ending on Wednesday, though they have stopped pricing in the possibility of negative rates after the surprise recovery in employment. "Gold and silver continued to recover this morning as some physical/retail bargain hunters had some pent up demand at the lower levels," MKS PAMP said in a note....
Jun.07 -- Luya You, transportation analyst at Bocom International, discusses the prospects for Chinese airlines. China will ease a ban on flights to the country by foreign airlines on June 8. You speaks with Haslinda Amin and Yvonne Man on "Bloomberg Markets: Asia."...
(Bloomberg) -- Asian stocks started the week with gains after Friday’s U.S. jobs report smashed expectations and bolstered hope of a quick economic rebound. The dollar extended its recent slump.Equities climbed modestly in Japan, China and Hong Kong, while Korean shares lost much of an early advance. Australia’s markets were closed for a holiday. S&P 500 contracts were largely flat after the index posted a third weekly advance last week. The dollar headed for an eighth straight day of declines, while 10-year Treasuries retained last week’s losses.With U.S. shares close to wiping out their losses for the year, investor focus turns to the Federal Reserve’s policy meeting this week, with officials likely to re-commit to using their full range of tools to support the U.S. economy during the pandemic. Meanwhile, global governments are gradually easing their coronavirus lockdowns to revive growth while controlling the spread of Covid-19.“Markets have responded positively to...
