IAG chief executive Peter Harmer will retire by the end of 2020 after five years in charge of the insurance giant. Company chairman Elizabeth Bryan said on Wednesday a flexible nine-month transition period has been agreed with Mr Harmer to ensure a smooth changeover once a successor is found. Mr […]
Day: April 7, 2020
Copper rises on hopes of slowing pandemic
Copper prices surged to their highest in nearly three weeks on some signs that the coronavirus pandemic may be slowing and on hopes that heavy bouts of stimulus will repair economic damage. Some analysts were wary, however, of the rally that swept industrial metals higher for a second day along […]
Gold drops on hopes of a virus slowdown
Gold prices have fallen over 1.0 per cent, retreating from a near one-month high hit earlier in the session, as signs of slowdown in coronavirus cases in major epicenters boosted equity markets, drawing away some of the bullion’s safe-haven appeal. Spot gold fell 1.0 per cent to $US1,644.51 an ounce […]
US pushes back on call for oil output cuts
Saudi Arabia, Russia and allied oil producers will agree to deep cuts to their crude output at talks this week only if the United States and several others join in with curbs to help prop up prices that have been hammered by the coronavirus crisis. However, the US Department of […]
China overtakes US in patent applications
China has overtaken the US for the first time in the number of patent applications last year, the World Organisation for Intellectual Property (WIPO) says. China made 59,000 patent applications in 2019, about 1000 more than the US, WIPO said. The US had been top of the rankings every year […]
Wall St gains on signs of virus slowdown
Wall Street has risen as early signs of a slowdown in coronavirus cases in US hot spots raised hopes that sweeping lockdown measures to contain the outbreak were working. The S&P 500 was set for its biggest two-day gain in nearly two weeks on Tuesday, building on a 7.0 per […]
Challenger bank 86 400 raises $34 million
Cuscal-backed challenger bank 86 400 has brought on its first outside investors, raising a total of $34 million in new capital. The Series A capital raise led by Morgan Stanley raise brings its total capital to $90 million. The investors included fund managers, an Australian superannuation fund, high net worth […]
Virus hopes propel stocks, euro higher
World stock markets are enjoying a second day of sharp gains on Tuesday as signs of progress against the coronavirus in both Europe and the United States and more liberal helpings of stimulus kept investors charging back in. There was an added boost from commodity markets as oil climbed nearly […]
Zelira shares soar on marijuana trial
Zelira Therapeutics shares have surged more than 25 per cent after a clinical trial showed its medical marijuana drug candidate successfully treated chronic insomnia. Twenty-three chronic insomniacs who were treated with Zelira’s ZLT-101 pill slept significantly longer, went to sleep faster and went back to sleep sooner after waking, the […]