Australian shares rose on Thursday as
risk appetite was whetted by a rebound in oil prices and hopes
that global central banks would unleash more stimulus to cushion
the economic blow from the coronavirus pandemic.
Chinese state energy company
Sinopec is in early-stage talks with Hin Leong Trading Pte Ltd
to buy a stake in an oil storage terminal that is partly owned
by the Singapore trader, according to three sources with
knowledge of the matter.
Harvard University said on
Wednesday it had decided not to seek $8.6 million from the
coronavirus stimulus law that it was qualified for, after an
outcry led by U.S. President Donald Trump who questioned whether
the elite school needed the money.
A number of big-borrowing
developing countries came into the coronavirus crisis with
vulnerabilities due to their economies' reliance on foreign bank
short-term funding, a Bank for International Settlements
analysis has shown.
U.S. Treasury Secretary
Steven Mnuchin warned on Wednesday that companies that received
coronavirus rescue money intended for small businesses could be
investigated if it appears they did not really need the money.
Buyout firm Sycamore Partners disclosed
on Wednesday it had walked away from a $525 million deal to
acquire a majority stake in Victoria's Secret, after the
lingerie brand shut down stores and furloughed staff in response
to the coronavirus outbreak.