Wall Street oscillates amid COVID-19 spikes, muted data

Wall Street oscillates amid COVID-19 spikes, muted data
NEW YORK (Reuters) – Wall Street struggled for direction on Thursday as investors weighed a resurgence in coronavirus infections and the possibility of a new round of shutdowns against data that suggested the U.S. economy might not bounce back with quick, V-shaped recovery. Traders exit the 11 Wall St. door of the New York Stock Exchange (NYSE) in New York... Read More

S&P 500, Dow dip on rising virus cases, elevated jobless claims

S&P 500, Dow dip on rising virus cases, elevated jobless claims
(Reuters) – The S&P 500 and Dow retreated on Thursday as an uptick in coronavirus infections in parts of the United States threatened to upend bets of a swift economic recovery, with data showing weekly jobless claims remained elevated. Traders exit the 11 Wall St. door of the New York Stock Exchange (NYSE) in New York City, New York, U.S.,... Read More

Exclusive: Tencent aims to become biggest shareholder of video streaming rival iQIYI – sources

Exclusive: Tencent aims to become biggest shareholder of video streaming rival iQIYI – sources
BEIJING/HONG KONG (Reuters) – Tencent Holdings Ltd (0700.HK) aims to become the biggest shareholder in video streaming rival iQIYI Inc iQ.O, said two people familiar with the matter, to lower costs and counter competition in a sector boosted by stay-at-home virus policies. FILE PHOTO: People visit Tencent’s booth at the World 5G Exhibition in Beijing, China Nov. 22, 2019. REUTERS/Jason... Read More

China’s Tencent Music reports passive stake in Warner Music

China’s Tencent Music reports passive stake in Warner Music
FILE PHOTO: Tencent Music Entertainment celebrates the company’s IPO at the New York Stock Exchange (NYSE) in New York, U.S., December 12, 2018. REUTERS/Bryan R Smith/File Photo (Reuters) – China’s Tencent Music Entertainment Group (TME.N) on Friday reported a 5.2% passive stake in Warner Music Group Corp WMG.O, about a week after the world’s third-largest recording label’s debut on the... Read More

Comcast, media mogul Byron Allen reach carriage deal

Comcast, media mogul Byron Allen reach carriage deal
FILE PHOTO: Comedian Byron Allen arrives at the 31st Independent Spirit Awards in Santa Monica, California February 27, 2016. REUTERS/Danny Moloshok (Reuters) – Comcast Corp (CMCSA.O) said on Thursday it reached a content carriage deal with comedian-turned media mogul Byron Allen, who withdrew a lawsuit about racial bias against channels owned by African Americans. The settlement with Allen’s Entertainment Studios... Read More

U.S. cannot shut down economy again, Treasury’s Mnuchin says

U.S. cannot shut down economy again, Treasury’s Mnuchin says
U.S. Treasury Secretary Steven Mnuchin speaks during a Senate Small Business Committee hearing on coronavirus relief aid and “Implementation of title I of the CARES Act.”, in Washington, U.S., June 10, 2020. Al Drago/Pool via REUTERS WASHINGTON (Reuters) – The United States cannot let the coronavirus shut down its economy again, U.S. Treasury Secretary Steven Mnuchin said on Thursday, adding... Read More

S&P 500, Dow retreat as focus turns to Fed; Nasdaq hits fresh high

S&P 500, Dow retreat as focus turns to Fed; Nasdaq hits fresh high
(Reuters) – The S&P 500 and Dow slipped on Wednesday, as losses in financial stocks countered a boost from the technology sector, with focus now shifting to the Federal Reserve’s first projections on the economy since the coronavirus outbreak. FILE PHOTO: Traders work inside posts, on the first day of in-person trading since the closure during the coronavirus disease (COVID-19)... Read More