News Wire

South Africa faces battle to rein in spending - Fitch

16h54 South Africa's plans to rein in government spending will be hard to implement due to low economic growth, ratings agency Fitch said on Tuesday, adding the country had a poor track record of delivering debt and spending cuts.  Full story

Televangelists, Dallas megachurch that hosted Pence approved for millions in pandemic aid

17h50 A Dallas megachurch whose pastor has been a vocal supporter of President Donald Trump was approved for a forgivable loan worth $2 million to $5 million, according to long-awaited government data released on Monday.. . .  Full story

Forex firm Travelex says debt holders to take control of company

17h49 Travelex said on Tuesday its debt holders will take control of the company and inject 84 million pounds ($105.60 million) of fresh liquidity as part of a debt restructuring to help the currency service. . .  Full story

Japan's AGC weighs options after Italy puts conditions on Molmed deal

17h47 Italy said it would use its right to intervene to protect strategic assets on the planned acquisition of biotechnology group Molmed by AGC , leaving the Japanese buyer to review whether to go ahead with. . .  Full story

Wall St struggles for direction after strong rally as virus cases surge

17h45 The S&P 500 was little changed on Tuesday a day after the benchmark index logged its longest streak of gains this year, as investors weighed expectations of an economic recovery against risks from a. . .  Full story

Italian yields hover at 3-month lows as traders eye talks in Brussels

17h41 Italian 10-year government bond yields clung to recent three-month lows on Tuesday as traders awaited signs of progress from talks this week in Brussels on a European recovery fund.. . .  Full story

Gold eyes key $1,800 level on relentless rise in virus cases

17h40 Gold bounced back on Tuesday within a striking distance of the key $1,800 level as a surge in COVID-19 cases boosted hopes for further accommodative monetary policy measures and demand for the safe-haven metal.. . .  Full story

Dollar edges higher as virus worries sap risk appetite

17h39 The U.S. dollar inched higher against a basket of currencies on Tuesday, holding above the near two-week low hit in the previous session, as investors turned uneasy over new coronavirus flare-ups and local. . .  Full story

Spain to lease public land royalty-free for social housing building

17h39 Spain will lease public land to private companies and waive royalty fees on the condition of a commitment to build and manage social housing during the lease, Transport Minister Jose Luis Abalos said on. . .  Full story

Wirecard administrator sees strong interest from potential buyers

17h35 Wirecard's administrator said on Tuesday that more than 100 investors have expressed interest in buying the collapsed German payments firm's core business and holdings.. . .  Full story

Corn, soy slip as U.S. crop weather looks less threatening

17h33 U.S. corn and soybean futures eased on Tuesday as weather forecasts looked less threatening to America's crops than they had a day earlier, analysts said.. . .  Full story

African economies could shrink 3.4% this year, rebound in 2021 -AfDB

17h24 The African Development Bank (AfDB) forecast on Tuesday that the continent's economies will contract by 3.4% in 2020 if the pandemic continues into the second half of the year, compared to a pre-COVID-19 projection for. . .  Full story

UBI crosses swords again with Intesa on value of takeover bid

17h24 UBI Banca on Tuesday fired back at rival Intesa Sanpaolo in an escalating war of words over a takeover offer from Italy's second largest bank, reiterating that the bid does not adequately reward its shareholders.. . .  Full story

Brazil's Bolsonaro tests positive for coronavirus

17h22 Brazil President Jair Bolsonaro has tested positive for the novel coronavirus, he said in a television interview on Tuesday. (Reporting by Ana Mano Editing by Brad Haynes). . .  Full story

19 cases in Americas hit 5.9 mln, half in Latin America and Caribbean -WHO director

17h20 Latin America and the Caribbean now account for 50% of the COVID-19 cases in the Americas, and the number of registered cases continues to accelerate, the World Health Organization's regional director Carissa Etienne said on. . .  Full story

GLOBAL MARKETS-Stocks, oil slip but Chinese stocks rumble on

17h19 Investor caution over renewed coronavirus lockdowns snuffed out a five-day rally in most world equity markets on Tuesday and weighed on oil prices, though it was not enough to halt a hot streak in. . .  Full story

Ivory Coast's 2020 growth seen sliding to 0.8% due to pandemic

17h18 Ivory Coast's gross domestic product growth is expected to slow to 0.8% in 2020 compared to a previous forecast of 7.2% if the coronavirus pandemic continues to the end the year,. . .  Full story

Britain jeopardising China relationship, says Huawei's UK boss

17h16 Britain risks throwing away its long-standing relationship with China if it bans Huawei from its 5G networks at the behest of the United States as part of a global battle for technological supremacy, the. . .  Full story

Libya's NOC says oil blockade to halve output in coming years

17h10 Libya's National Oil Corporation (NOC) said on Tuesday that a forced shutdown in production since January was expected to cut output to 650,000 barrels per day in 2022 from about 1.2 million bpd achieved. . .  Full story

Israel pushes back creation of sovereign wealth fund as gas revenue trickles in

17h06 Israel has pushed back the creation of a sovereign wealth fund because tax revenue from natural gas has not yet hit the minimum needed to begin investing, and fund managers have not yet been. . .  Full story

Sterling rises to three-week highs on news of Brexit talks dinner

17h03 Sterling rose to three-week highs on Tuesday, strengthening almost 1% against the euro, on optimism that British and EU trade negotiators could find common ground at a dinner planned for later in the day.. . .  Full story

Britain says it can restart Saudi Arabia arms export licences

17h03 Britain can once again issue new licences to export arms to Saudi Arabia after complying with a court order, its trade minister said on Tuesday, a move campaigners condemned as "morally bankrupt".. . .  Full story

South Sudan's central bank cuts benchmark interest rate to 10%

16h56 South Sudan's central bank said it cut its benchmark interest rate to 10% from 13%, as part of efforts to mitigate the effects of the coronavirus outbreak on the economy.. . .  Full story

U.S. hiring races to record high in May, layoffs abate

16h43 U.S. hiring surged to a record high in May and layoffs declined as businesses reopened, but the signs of improvement in the labor market have been overshadowed by a resurgence in COVID-19 cases that. . .  Full story

CoreLogic rejects $7 bln takeover bid from investment firms

16h42 Property data and analytics company CoreLogic on Tuesday rejected an unsolicited $7 billion takeover offer and said business was so strong that it expected to earn more this year and would be able to. . .  Full story

Argentina's Guzman says fate of debt deal in creditors' hands after "final" offer

16h40 Argentina's Economy Minister said on Tuesday that the fate of a $65 billion debt restructuring deal was now in the hands of creditors, though he expected opposition from a key bondholder group after the government. . .  Full story

TSX slips as virus surge weighs on energy stocks

16h38 Canada's main stock index retreated on Tuesday, with energy shares leading declines, on worries about the slower pace of an economic rebound after U.S. cases of COVID-19 surged.. . .  Full story

Deutsche Bank to pay $150 mln fine, says making Jeffrey Epstein a client was 'mistake'

16h37 Deutsche Bank AG admitted it made a "critical mistake" taking on the registered sex offender Jeffrey Epstein as a client, and agreed to pay a $150 million fine to settle New York charges over. . .  Full story

Longer, greener, broader: strategies for a world awash in new bonds

16h33 Century bonds and green bonds, the first 20-year U.S. Treasury issue in decades, securities for mom-and-pop investors and with growth-linked payouts -- a borrowing binge is forcing governments to think creatively to get the funds. . .  Full story

U.S. natgas climbs to 2-month high on hot weather, pipe shutdown

16h25 U.S. natural gas futures rose to a two-month high on Tuesday with output on track to fall by a record amount after a pipe shutdown in West Virginia and on forecasts confirming. . .  Full story

Latam stocks retreat after risk rally; Mexican peso leads FX losses

16h18 Mexico's peso dropped on Tuesday, tracking weak oil prices while major Latin American stocks came off four-month highs as a recent risk rally paused for breath. While positive economic. . .  Full story

Oil slips as U.S. virus spike stokes demand worries

16h15 Oil prices edged lower on Tuesday amid concerns that a surge in new coronavirus cases, especially in the United States, will hamper any recovery in fuel demand.. . .  Full story

Spain to disburse $2 bln in aid for transport companies

16h11 Spain's government will disburse 1.8 billion euros ($2 billion)in aid to support transport companies hit by the coronavirus pandemic, transport minister Jose Luis Abalos said on Tuesday.. . .  Full story

Yields lower as reopenings rolled back

16h04 U.S. Treasury yields ticked lower on Tuesday as a rising COVID-19 caseload raised concerns about reopening plans. The benchmark 10-year yield was down 1.5 basis points in morning trading at 0.6693%.. . .  Full story

ECB's Costa calls for TARP-style bad debt fund to relieve banks

16h02 Europe needs a scheme similar to the U.S. Troubled Asset Relief Programme (TARP), adopted during the 2008 subprime crisis, to help its banks cope with the fallout from the COVID-19 pandemic, European Central Bank policymaker. . .  Full story

Gold-hungry investors drive ETF stockpile to new record in June

15h57 Gold-backed exchange traded funds (ETFs) added 104 tonnes of the metal worth $5.6 billion to their hoard in June as investors worried about the fallout of the coronavirus outbreak rushed to buy bullion, the. . .  Full story

Write-downs put spotlight on energy majors' scattered oil price outlooks

15h48 A series of huge write-downs among energy majors triggered by lower assumptions for future oil prices has put a spotlight on the sector's scattered price outlooks.. . .  Full story

The quarter after the half: Why the next 3 months are key for stocks

15h41 Central bank firepower helped stock market bulls finish the first half of 2020 on a high. Now the rally hinges on follow-through in the third-quarter from economic data, company earnings and the coronavirus newsflow.. . .  Full story

EU wants Brexit deal 'but not at any price' as teams head for dinner

15h39 Top British and EU negotiators will dine at Number 10 Downing Street on Tuesday, kicking off the latest round of Brexit talks that have all but stalled amid differences, with the top EU official. . .  Full story

Climate battles are moving into the courtroom, and lawyers are getting creative

15h38 Climate change may be having its day in court.. . .  Full story

Loonie weakens as worries rise about renewed virus lockdowns

15h34 The Canadian dollar weakened against its U.S. counterpart on Tuesday as investors grew more worried about renewed coronavirus lockdowns slowing economic recovery, with the loonie pulling back from a near two-week high the day before.. . .  Full story

Global recession will hasten refinery rationalisation: Kemp

15h30 Coronavirus and the cyclical slump in petroleum consumption are accelerating a long-term rationalisation of the global refining industry and a shift eastwards in its centre of gravity to Asia.. . .  Full story

Siberia temperatures hit record for June as wildfires spread

15h24 Temperatures in Arctic Siberia soared to a record average for June, more than 5 degrees Celsius (9°F) above normal, in a heat wave that is stoking some of the worst wildfires the region has. . .  Full story

Italian cabinet approves "mother of all reforms" to slash red tape

15h07 The Italian government approved a package of measures on Tuesday aimed at cutting the complicated red tape that has long been blamed for crimping growth in the euro zone's third-largest economy.. . .  Full story

EU lawmakers agree to include shipping emissions in EU carbon market

15h04 European lawmakers agreed on Tuesday to include international carbon emissions from the maritime sector in the EU carbon market, targeting an industry that does not yet pay for its pollution.. . .  Full story

Hedge fund Lansdowne to shut $2.8 bln main long-short strategy

15h03 London-based Lansdowne Partners is closing its main hedge fund, a long-short strategy that manages $2.8 billion in assets under management, a person familiar with the matter told Reuters.. . .  Full story

Uber launches grocery delivery in Latin America, Canada with U.S. to follow

14h50 Uber Technologies Inc on Tuesday further expanded delivery offerings, launching an app-based grocery service in several Latin American and Canadian cities, with the United States to follow later this month.. . .  Full story

Sri Lankan shares gain as financial, industrial stocks shine

14h50 Sri Lankan shares ended slightly higher on Tuesday, buoyed by gains in financial and industrial stocks.. . .  Full story

Virus crisis exposes tensions over tighter controls for investment funds

14h41 Britain's market watchdog is resisting calls for stricter rules on investment funds, putting the regulator at odds with the Bank of England which wants tighter controls to prevent them becoming a source of contagion in. . .  Full story

Demand hopes, supply worries propel copper to 5-month peak

14h31 Copper prices soared to their highest in more than five months on Tuesday due to strong demand prospects in top consumer China and worries about supplies from Chile, the world's largest producer of the. . .  Full story

ENKRAFT piles pressure on Energiekontor to change strategy

14h23 Activist investor ENKRAFT has stepped up its criticism of solar and wind park developer Energiekontor, accusing management of failing to address what it described as "great strategic weaknesses", a letter seen by Reuters showed.. . .  Full story

Angola agrees to comply fully with oil cuts after OPEC pressure, sources say

14h11 Angola has agreed with OPEC to comply fully with a global pact on supply curbs and will compensate for previous overproduction by cutting more from July to September, two OPEC sources. . .  Full story

'At war time speed', China leads COVID-19 vaccine race

14h11 China is forging ahead in the race to develop a vaccine to help control the COVID-19 pandemic, with Sinovac Biotech's experimental vaccine set to become the country's second and the world's third to enter final. . .  Full story

Plus500 reports four-fold surge in revenue, makes interim CEO permanent

14h06 Online trading platform Plus500's revenue in the first half nearly quadrupled to $564.2 million, as it continues to see strong trading volumes in financial markets during the coronavirus crisis.. . .  Full story

Africa's top publisher to close S.African publications, cut jobs

14h05 South African media and e-commerce group Naspers plans to lay off more than 500 employees and close a number of newspapers and magazines, including leading weekly tabloid the Sunday Sun, its print division Media24 said. . .  Full story

Iran's oil storage almost full as sanctions and pandemic weigh

14h03 Iran has slashed crude oil production to its lowest level in four decades as storage tanks and vessels are almost completely full due to a fall in exports and refinery run cuts caused by. . .  Full story

Lufthansa to cut a fifth of leadership jobs in restructuring

14h01 Germany's Lufthansa airlines will cut 20% of its leadership positions and 1,000 administrative jobs in a restructuring plan that it announced on Tuesday to cope with fallout from the coronavirus crisis.. . .  Full story

Coronavirus pain drives Big Oil's dash for record debt

13h41 The world's top oil and gas companies locked in cheap borrowing rates to raise a record amount of debt in the second quarter of 2020 and boost cash reserves as a buffer against a. . .  Full story

Russia's Rosneft to buy a drilling business from IDS - letter

13h40 Rosneft is set to buy a drilling business from IDS Group, a letter to IDS staff seen by Reuters showed, as the Russian oil giant continues its push into oilfield services to help reduce. . .  Full story

Spain extends coronavirus aid for tenants and homeowners

13h32 Spain's cabinet will on Tuesday approve the extension of measures aimed at easing the financial burden on rental tenants and homeowners hit by the coronavirus, government sources told Reuters.. . .  Full story

Moody's, S&P monitoring Indonesian central bank's credibility in new debt scheme

13h31 The ratings agencies Moody's and S&P said on Tuesday Indonesia's debt monetization would not affect the country's credit ratings in the short term, but they are monitoring how the central bank maintains its credibility. . .  Full story

Despite downturn, Saudi Arabia pursues goal of doubling size of capital city

13h17 Saudi Arabia is pressing on with plans to double the size and population of its capital city in the next decade, a government official said, despite an economic downturn due to the coronavirus crisis. . .  Full story

Ineos may switch vehicle production to France, puts Welsh ops on hold

13h05 Britain's Ineos, which is planning to build an off-roader in Wales to rival the likes of the Land Rover Defender, may make it in France instead at a factory Daimler has put up for. . .  Full story

Indian shares end higher for fifth day, lenders soar

13h01 Indian shares closed higher for a fifth straight session on Tuesday, as gains in IT and beaten down financial companies helped Mumbai's main indexes outperform other stock markets after a week-long rally.. . .  Full story

Japan boosts rescue efforts as it warns of more rain in flood-hit areas

12h57 Japan on Tuesday warned of more heavy rain on the southwestern island of Kyushu and bolstered rescue operations as the death toll in flood-hit areas rose past 50 with about a dozen people reported. . .  Full story

Asia Distillates-Gasoil cracks drop on concerns over demand recovery

12h54 Asian refining margins for 10 ppm gasoil slipped on Tuesday despite weaker raw material crude prices as traders expect refiners to add fresh supplies to the market, while concerns about demand due to. . .  Full story

Polish economy could return to pre-virus levels in 2021 -state fund head

12h52 Poland could return to pre-coronavirus levels of economic activity in the first or second quarter of 2021, the head of state fund PFR said on Tuesday, adding that the economy could grow by 5%. . .  Full story

Turkish floating power plant firm aims to end blackouts in west Libya

12h48 A Turkish company that runs a fleet of floating power generators is sending a technical team to Libya to make a proposal to supply electricity to the west of the North African nation, an. . .  Full story

FX slips after industrial output data disappoints

12h44 Central Europe's currencies returned some recent gains on Tuesday, with the Czech crown touching a one-week low after disappointing industrial data from the region and as investors remain wary of rising coronavirus cases.. . .  Full story

FACTBOX-How to turn around the UK's coronavirus slump - Sunak's options

12h43 British finance minister Rishi Sunak is considering measures ranging from tax cuts to hiring incentives as he tries to steer the world's sixth-biggest economy towards recovery after a 25% coronavirus crash in March and April.. . .  Full story

Thai Q1 household debt at 80% of GDP, highest in 4 years

12h29 Thailand's household debt level to gross domestic product (GDP) rose slightly to 80.1% in the first quarter, the highest level in four years, central bank data showed, with the trend set to continue as. . .  Full story

Global central bank response to the coronavirus outbreak

12h21 Central banks worldwide have slashed interest rates in recent months, providing in some cases unprecedented amounts of stimulus to help soften the blow to the global economy from the coronavirus pandemic and to. . .  Full story

Irish housebuilding to fall by one-third due to COVID-19 - central bank

12h16 Housebuilding in Ireland is likely to fall by at least one-third over three years due to COVID-19 disruptions and could fall by half in the event of a second wave of infections, a senior. . .  Full story

Global economic policy response to the coronavirus crisis

12h13 Governments and central banks around the world have unleashed unprecedented amounts of fiscal and monetary support for economies that are reeling from the coronavirus pandemic. The following is a summary. . .  Full story

-Viaro Energy to buy UK-based RockRose in 248 mln pound deal (July 6)

12h08 UK-based RockRose Energy Plc said on Monday it had agreed to be bought by privately held energy firm Viaro Energy in a deal valuing it at 247.6 million pounds ($309.08 million), as the industry. . .  Full story

Indonesia imposes 10% VAT on Amazon, Google, Netflix and Spotify

12h04 Indonesia imposed a 10% value-added tax on sales by technology firms including Amazon, Netflix, Spotify and Google on Tuesday, as spending patterns shift with increased remote working as a result of the coronavirus crisis, which. . .  Full story

EU sees deeper recession, less steep rebound for euro zone

12h02 The euro zone economy will drop deeper into recession this year and rebound less steeply in 2021 than previously thought, the European Commission forecast on Tuesday, with France, Italy and Spain struggling the most. . .  Full story

U.S. government's boxed food aid promise falls short

12h00 The U.S. government delivered far less food aid than it had pledged by the end of June, according to food bank managers and data from the agriculture department sent to Reuters, after it hired. . .  Full story

Economists call for more direct cash payments tied to the health of the economy

12h00 Direct cash payments can improve financial security, boost consumer spending and may speed up the recovery, according to a letter from a group of economists calling on U.S. policymakers to keep providing direct cash payments. . .  Full story

GRAPHIC-Companies seen slashing capex 12% this year, deeper than in 2009 -data

11h56 Big and mid-cap firms globally are expected to slash capital spending by an average 12% this year as they reel from the fallout of lockdowns and other measures imposed to rein in the coronavirus. . .  Full story

As FOMO drives torrid Chinese stocks rally, 2015 is a faint memory

11h44 A state-endorsed rally in Chinese stocks has driven share prices to five-year highs, spurred a retail investor splurge and raised concern among some market participants about a repeat of 2015's bubble-and-burst episode.. . .  Full story

Spot prices jump on falling renewables output

11h38 European spot electricity prices for Wednesday delivery jumped to more than 5-month highs due to a falling forecast for German wind and solar power generation, while French nuclear availability remained low.. . .  Full story

-Indonesia unveils $40 bln bond scheme to fund recovery from pandemic

11h35 Indonesia unveiled a nearly $40 billion financing scheme for its fiscal deficit on Monday, with the central bank set to buy some 397.6 trillion rupiah ($28 billion) directly without receiving interest, to help fund. . .  Full story

German industrial output rebounds, firms see brighter outlook

11h35 Germany's industrial production rebounded in May, rising by 7.8% for the month after falling by a revised 17.5% in April, the Statistics Office said on Tuesday, in the latest sign that Europe's largest economy. . .  Full story

Euro zone agrees 750 million euros of debt relief measures for Greece

11h32 The euro zone agreed on Tuesday new debt relief measures for Greece worth about 750 million euros ($840 million) as part of the country's post-bailout programme.. . .  Full story

HKMA sells HK$8.14 bln into market as currency hits strong end of trading band

11h24 The Hong Kong Monetary Authority sold HK$8.138 billion ($1.05 billion) into the market after the local currency hit the strong end of its trading band, according to data released by the HKMA.. . .  Full story

Pompeo says U.S. looking at banning Chinese social media apps, including TikTok

11h19 Secretary of State Mike Pompeo said on Monday that the United States is "certainly looking at" banning Chinese social media apps, including TikTok, suggesting it shared information with the Chinese government, a charge it denied.. . .  Full story

Bayer shares fall after judge questions part of proposed Roundup settlement

11h15 Bayer shares fell more 6% on Tuesday after a U.S. judge questioned part of the German company's proposed settlement to deal with future claims relating to allegations that its widely used weedkiller Roundup caused cancer.. . .  Full story

UK's Daily Mirror publisher Reach to cut 550 jobs

11h12 Daily Mirror owner Reach said on Tuesday it would cut about 550 jobs, or 12% of its workforce, after the COVID-19 pandemic hit circulation and advertising at its national and regional newspapers in Britain.. . .  Full story

Premier Inn owner Whitbread cautious on outlook as hotels reopen

11h10 Premier Inn owner Whitbread reported a 80% fall in first-quarter like-for-like UK sales on Tuesday noting improving demand for hotel rooms in tourist spots but subdued demand in London and elsewhere.. . .  Full story

European stocks ease from 1-month highs as rebound hopes dim

11h06 European shares fell on Tuesday as surging U.S. coronavirus cases and forecasts for a deeper-than-feared recession in the euro zone dimmed optimism around a post-pandemic rebound.. . .  Full story

Italy's Target2 debt hits new record high, ECB's funding to banks rises

11h05 Italy's liabilities towards other euro zone central banks hit a new all-time high in June, as the country's lenders rushed to borrow from the European Central Bank under extraordinary measures deployed to fight the. . .  Full story

China's June forex reserves rise less than expected on buoyant yuan

11h03 China's foreign exchange reserves rose less than expected in June as the yuan strengthened and global asset prices rebounded amid a recovery in economic sentiment.. . .  Full story

Russian rouble, South African rand lead currency declines

11h03 Emerging market currencies in Europe, the Middle East and Africa were pressured by a rise in demand for the dollar on Tuesday, as investors took a breather from stocks and other riskier investments after. . .  Full story

Taiwan June exports down again, outlook clouded by virus

11h02 Taiwan's exports in June fell for a fourth straight month and at a faster pace than expected, with the government warning of pressure in the second half due to concerns about a new wave. . .  Full story

U.S. firms in India not ready to pay digital tax, lobby group says

10h56 A lobby group representing U.S. technology giants has said its members are not yet ready to make the first payment of the country's digital tax due this week, urging New Delhi to defer the. . .  Full story

UK labour costs show biggest jump since 2006 - ONS

10h55 A gauge of British labour costs rose at its fastest rate since 2006 in the first three months of this year, reflecting the early days of the government's furlough scheme, the Office for National. . .  Full story

UK says it can draw investment and defend values after Huawei row

10h54 Britain can both remain a popular destination for foreign investment and stand up for its values, its business minister said on Tuesday after China warned that a dispute over tech firm Huawei could lead. . .  Full story

Thai shippers cut 2020 export outlook to 10% fall from 8% drop

10h53 Thailand's exports are expected to shrink 10% this year, deeper than the previous forecast of an 8% drop, due to the coronavious pandemic and the strength of the baht currency, a Thai shipping. . .  Full story

Hong Kong shares retreat as investors book profits

10h46 Hong Kong shares fell on Tuesday as a rally that pushed the city's benchmark index sharply higher over four days lost steam, with investors booking profits from recent gains. ** At the close of trade,. . .  Full story

UK consumers remain cautious about returning to high streets

10h42 The number of shoppers visiting retailers was down by nearly 50% last week compared with a year earlier and the amount of money spent in pubs and restaurants as they reopened last weekend suffered. . .  Full story

Malaysia's c.bank cuts rates to support recovery, spur inflation

10h33 Malaysia's central bank cut its key interest rate for the fourth straight meeting to a record low as policymakers sought to support a budding recovery in Southeast Asia's third largest economy, which has been battered. . .  Full story