Pacific Investment Management
Co (PIMCO), one of the world's largest investment firms, told
clients on Thursday the coronavirus outbreak is likely to cause
a short and severe recession, and that the risk of a slow
recovery or a relapse will keep its investment strategy
defensive for the time being.
One of the world's biggest recruiters,
Hays, raised about 200 million pounds ($248 million)
via a new share issue on Thursday, seeking to prop up its
finances in the face of an expected collapse in fees due to the
Russian businessman Oleg Tinkov,
the founder of TCS Group on Thursday announced his
intention to step down from the board of Tinkoff Bank in order
to focus on his health, after being diagnosed with acute
leukaemia in October.
Goldman Sachs Group Inc
Chief Executive David Solomon said Thursday Goldman is
committing $250 million from its balance sheet to community
development financial institutions so they can make loans to
small businesses hurt by the coronavirus pandemic.
JPMorgan Chase & Co Chief
Executive Officer Jamie Dimon has returned to lead the largest
U.S bank, after recovering from recent heart surgery, according
to an internal memo to employees seen by Reuters.
The Brent crude oil benchmark,
used to price more than half the world's physical crude cargoes,
has dropped to a new record discount to Brent oil futures at
about a $10 per barrel, highlighting the overwhelming glut in