Business News

South African blockchain-based renewable energy start-up SunExchange has raised $3 million from a company backed by one of the country's richest businessmen, the firm said on Tuesday.

G7 government bonds? Check. Gold? Check. But that may not be enough as the coronavirus crisis accelerates a hunt for a wider pool of assets to better balance investment portfolios during stressful times.

Central European currencies and stocks eased on Tuesday, as a risk-off mood prevailed in markets after fresh negative data from Europe's economic powerhouse Germany soured the mood ahead of Wednesday's U.S. Federal Reserve meeting. German exports and imports slumped in April, posting their biggest declines since records began in 1990 as demand dried up in the coronavirus lockdown. On Monday data showed German industrial output posted its steepest plunge on reco

Gold prices rose on Tuesday as a pullback in equities increased the appeal of the safe-haven metal while investors awaited the U.S. Federal Reserve's two-day monetary policy meeting starting later in the day. Spot gold was up 0.8% at

* Japanese yen rises to 1-week high as traders await Fed meeting

A plunge in household spending and investment pulled down euro zone gross domestic product in the first quarter as the COVID-19 pandemic struck, but the fall was slightly smaller than first estimated, the European Union's statistics office said.

Stock market bulls were forced to a halt on Tuesday and high-flying currencies like the euro and Australian dollar lost altitude, as a weeks-long risk rally ran into some turbulence.

* World Bank sees global output shrinking by 5.2% in 2020 (Adds comment, updates prices)

A U.S. Senate report released Tuesday says the U.S. government failed to properly oversee Chinese-owned telecommunications companies for nearly two decades.

* MSCI ex-Japan had scored longest winning streak since early 2018

A U.S. Senate report released Tuesday says the U.S. government failed to properly oversee Chinese-owned telecommunications companies for nearly two decades.

Norwegian banks should hold on to their capital during the coronavirus outbreak and refrain from making dividend payments or other distribution to shareholders, Norway's Financial Supervisory Authority (FSA) said in a report on Tuesday.

France launched what it said was a 15 billion euro ($17 billion) rescue plan for its aerospace industry on Tuesday, warning 100,000 jobs were directly at stake due to the coronavirus crisis travel slump.

(A look at the day ahead from Karin Strohecker, chief correspondent, emerging markets. The views expressed are her own.) The equity rally fuelled by optimism over economic recovery from the coronavirus pandemic looks like it might be losing some steam, despite more good news from some key financial centres.

Japanese investors have clipped the wings of a resurgent U.S. dollar as they position for the likelihood that the U.S. Federal Reserve will take steps to flatten the Treasury yield curve.

Germany's bank lobby is set to urge the government to drop some of the conditions attached to a trillion euro rescue scheme, arguing that companies are so reluctant to take the help that it threatens any recovery from the coronavirus outbreak.

Hong Kong's government does not intend to hold a stake in Cathay Pacific Airways Ltd long term after leading a rescue package to help it through the coronavirus pandemic, Finance Secretary Paul Chan said on Tuesday.

German freight technology firm Sennder said on Tuesday it was merging with French peer Everoad in a deal that keeps it on track for its target of 1 billion euros ($1.1 billion) in revenue by 2024.

While some potential vaccines have emerged in the global race to find a way to stop the spread of COVID-19, many scientists and researchers believe antibody based therapies hold great promise for treating people already infected with the disease.

Travel corridors allowing unrestricted movement between Britain and some other countries will open from June 29, a UK tourism lobby group said on Tuesday, citing assurances it said it had received from senior government sources.