Category: News

Day says disciplined routine has helped him keep back issues at bay By Reuters

© Reuters. PGA: PGA Championship – Second Round

(Reuters) – Former world number one Jason Day said his chronic back problems left him struggling to walk around a golf course when the sport returned in mid-June after the COVID-19 break, but he is now in a better place physically.

The 32-year-old Australian carded a second-round 69 at the PGA Championship on Friday for a share of second place to stay in contention for only the second major of his career.

“Physically, I feel great. I’m always trying to stay disciplined with my exercises and soft tissue work… overall, I feel good,” overnight co-leader Day told reporters.

“When I first came out (after the COVID-19 shutdown), I struggled to walk around a golf course and play. You know, it hurt to walk. But now I feel great and I feel fine.”

Day, who won the 2015 PGA Championship, arrived at TPC

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UK’s Sunak says optimistic much of COVID loans to firms will be repaid By Reuters

© Reuters. FILE PHOTO: Britain’s Chancellor of the Exchequer Rishi Sunak arrives at the Foreign and Commonwealth Office

LONDON (Reuters) – British finance minister Rishi Sunak said on Friday that he was optimistic a lot of the emergency government-backed loans given to companies during the pandemic will be repaid.

“I remain optimistic that if we can actually drive our economic recovery forward then, we should be able to recover a lot of the loans,” Sunak told Sky News.

“Are some of those loans going to be written off? Absolutely. We’ve been very clear we won’t be able to say every single job, every single business.”

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be
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Australia’s second-biggest city enters strict new coronavirus lockdown By Reuters

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© Reuters. FILE PHOTO: People are seen on the ground floor of an office building in Sydney

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By Colin Packham

SYDNEY (Reuters) – Australia’s second-biggest city Melbourne began the first day of a six-week total lockdown on Thursday with the closure of most shops and businesses raising new fears of food shortages, as authorities battle a second wave of coronavirus infections.

Shops were shut and streets were deserted in the city of about 5 million people, the capital of Victoria state, which reported 471 new COVID-19 cases and eight deaths in the past 24 hours.

Australia has now recorded about 20,000 COVID-19 cases and 255 fatalities, still far fewer than many other developed nations.

But the Victorian outbreak threatens to spill into other states. New South Wales reported 12 new coronavirus cases on Wednesday, taking the national tally to 483. There were no cases reported in other states

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Britain’s banks brace for $22 billion loan losses as outlook darkens By Reuters

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© Reuters. FILE PHOTO: HSBC and Barclay’s buildings are lit up at dusk in the Canary Wharf financial district of London

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By Iain Withers and Lawrence White

LONDON (Reuters) – Britain’s banks took a gloomier view than almost all their European peers in their second quarter earnings, as coronavirus fears, Brexit and low interest rates caused them to bake tougher “worst-case” scenarios into their risk models.   

Investors had expected a torrid set of half-year results, but Barclays (L:), Standard Chartered (L:), Lloyds (L:), NatWest Group (L:) and HSBC (L:) fell short of these low expectations.

Provisions for potential loan losses across the five banks topped $22 billion, blowing past analyst forecasts and increasing selling pressure on shares already hammered by the pandemic this year.

By contrast, France’s BNP Paribas (PA:) and Credit Suisse (S:) beat analyst forecasts, benefiting from bumper trading volumes as well as relatively modest provisions.

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BP Cuts Dividend for First Time Since the 2010 Macondo Oil Spill By Bloomberg

© Bloomberg. A BP Plc logo sits at the top of a totem sign at a filling station in London, U.K., on Monday, June 8, 2020. BP Plc plans to cut 10,000 jobs as the coronavirus pandemic accelerates the company’s move to slim down for the energy transition.

(Bloomberg) — BP (NYSE:) Plc cut its dividend for the first time in a decade, removing a cornerstone of its investment case after the coronavirus pandemic upended almost every aspect of its business.

The move was largely expected after European peer Royal Dutch Shell (LON:) Plc slashed its own dividend in April. While Big Oil’s generous payouts have long been its main attraction to investors, the unprecedented market turmoil wrought by the virus has forced companies to take decisions unthinkable before this year.

BP also announced a new strategy to deliver its “net-zero” ambition, targeting a 10-fold increase in low-carbon investment by

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ByteDance says preliminary talks with a tech firm over TikTok have started: staff letter By Reuters

© Reuters. People walk past the Bytedance headquarters building in Beijing

BEIJING/SHANGHAI (Reuters) – TikTok owner ByteDance said on Monday that the company had initiated preliminary talks with a tech company to help it continue offering the short video app in the United States, a source said citing an internal company letter.

President Donald Trump only agreed to allow Microsoft Corp (O:) to negotiate the acquisition of popular short-video app TikTok if it could secure a deal in 45 days, three people familiar with the matter said on Sunday.

The move represents an about-face for Trump and prompted the U.S. tech giant to declare its interest in the blockbuster social media deal that could further inflame U.S.-China relations.

ByteDance did not immediately respond to requests for comment on the letter.

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