Business

U.S. long bond demand raises prospect of whole curve yielding below 1%

A decline in U.S. Treasury yields over recent weeks has investors eyeing the approach of an unusual phenomenon – the entire U.S. yield curve sinking below 1%. Policymakers are looking to position the country to recover once the COVID-19 pandemic eases and allows the Fed to raise interest rates again. But those steps look a […]

Business

Volkswagen South Africa boss Schaefer takes over at Skoda in shake-up

Volkswagen’s (VOWG_p.DE) Czech carmaker Skoda Auto named VW’s South Africa boss Thomas Schaefer as its new chairman on Monday as part of a wider shake-up at the German autos group. Schaefer replaces Bernhard Maier, who left the Czech firm last month after nearly five years during which he led the 125-year-old Skoda to record profits. […]

Business

J.C. Penney’s survival hinges on urgent sale negotiations

The survival of J.C. Penney Co Inc hangs on whether the department store chain can reach a complex deal within days to sell itself to an alliance of retail mavens and distressed-debt investors. The 118-year-old retailer blew through a Friday deadline from lenders to sort through bids that would take the company out of bankruptcy […]

Business

Europe cushions workforce as U.S. lifeline runs threadbare

While millions of U.S. workers thrown into unemployment by the coronavirus pandemic fret about feeding their families, idled German airline purser Marco Todte is mainly concerned about his next vacation. Todte, 41, hasn’t flown for work since April. But Germany’s state-subsidized “Kurzarbeit” furlough scheme and a top-up from employer Lufthansa means he is getting 90% […]

Business

Eastman Kodak top executive got Trump deal windfall on an ‘understanding’

Eastman Kodak Co on Monday granted its executive chairman options for 1.75 million shares as the result of what a person familiar with the arrangement described as an “understanding” with its board that had previously neither been listed in his employment contract nor made public. One day later, the administration of President Donald Trump announced […]

Business

Disney to reveal pandemic hit to parks and ESPN, boost to streaming services, on Tuesday

For Walt Disney Co (DIS.N), the ability to sell “Frozen”-themed water bottles at the Magic Kingdom theme park while selling ads during the NBA playoffs has historically been its greatest strength. But since the coronavirus pandemic forced theme parks and cinemas to shutter and live sporting events to be canceled, that exposure has made Disney […]

Business

Zoom to shift to ‘partner-only’ model in China, suspend direct sales

Zoom Video Communications (ZM.O) will shift to a partner-only model in mainland China from Aug. 23, suspending direct sales to all customers in the region, the company said on Monday. Zoom customers in China received an email on Monday informing them of the change, and telling them it would provide users with “better local support.” […]