Bankrupt Ascena Advances Restructuring Plan


The  Ascena Retail Group has received bankruptcy court approval for its plan of reorganization, which now needs a vote of approval by its creditors. Ascena said Monday that the plan, which includes an amended restructuring support agreement, has the support of about 95 percent of […]

Wall Street slides to seven-week low on new lockdown fears


NEW YORK (Reuters) – Wall Street’s main indexes slid to seven-week lows on Monday, with the S&P 500 and Dow each tumbling more than 2%, as concerns about fresh coronavirus-driven lockdowns in Europe raised fears the U.S. economy faces a longer road to recovery than […]

Pompeo criticises HSBC for backing HK security law


US Secretary of State Mike Pompeo has criticised banking giant HSBC for supporting China’s move to impose new security legislation in Hong Kong. Mr Pompeo also said the US stood with its allies against China’s “coercive bully tactics”. The Trump administration has repeatedly attacked Beijing […]

Prudent investment tips for the young


(NYTIMES) – This year, online Robinhood and its millions of younger-than-average customers have found themselves at the centre of attention that is comic and tragic. “Robinhood: ‘We now allow teenagers with their parents’ credit cards to trade stocks’” went the April headline on satire site […]

Indonesia, U.S. agree on infrastructure finance agreement


Slideshow ( 2 images )JAKARTA (Reuters) – Indonesia has signed an agreement with the United States to strengthen infrastructure financing through private sector investment, Indonesia’s Finance Ministry and the U.S. Treasury Department said on Friday. U.S Treasury Secretary Steven Mnuchin signed the agreement with Indonesia’s […]

Nasdaq futures rise as tech selloff calms


(Reuters) – Futures tracking the Nasdaq 100 index rose on Friday as a two-day selloff in technology-related stocks halted, while worries about rising coronavirus cases and a patchy economic recovery weighed on S&P 500 and Dow futures.FILE PHOTO: A worker cleans the floor of the […]