The massive stock market rally in the midst of the coronavirus pandemic has been built largely on optimism and has overlooked potential negatives that could end up catching investors off guard, Howard Marks, co-founder of Oaktree Capital Management, said in a client note.
Neptune Energy plans to cut nearly 21% of its workforce, or 400 roles across nine countries, as the gas and oil producer looks to weather low commodity prices.
The U.S. Federal Reserve will continue to rely on a stress test built before the onset of the coronavirus pandemic to set big bank capital requirements but will make use of pandemic-specific analysis to inform whether banks can pay out funds to investors, a top official said Friday.
The U.S. Federal Reserve will still rely on a stress test built before the onset of the coronavirus pandemic to set big bank capital requirements, and rely on extra pandemic-specific analysis to inform whether banks can pay out funds to investors, a top official said Friday.
The following bids, mergers, acquisitions and disposals were reported by 1500 GMT on Friday:
U.S. private equity firm KKR said on Thursday it had reached an agreement to buy Dutch vacation parks firm Roompot from French private equity firm PAI Partners.
Risk assets such as stocks and high-yield corporate bonds have climbed over the past two-and-a-half months despite a dire global economic outlook in the wake of the novel coronavirus pandemic.
JPMorgan Asset Management will extend its fixed income holdings further out on the spectrum, handing government bonds back to central banks and rotating out of liquid names into specific sectors such as bank capital, the fund manager said on Friday.
Investment bank JPMorgan has appointed its Asia-Pacific equity capital markets head, Daniel Darahem, to lead its Brazil business, a memo from the bank showed.