New emissions blow for VW as German court backs damages claims

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KARLSRUHE, Germany (Reuters) – Volkswagen (VOWG_p.DE) must pay compensation to owners of vehicles with rigged diesel engines in Germany, a court ruled on Monday, dealing a fresh blow to the automaker almost five years after its emissions scandal erupted.

FILE PHOTO: A cartoon of a VW logo squashing the coronavirus is displayed on a building at Volkswagen’s headquarters to celebrate the plant’s re-opening during the spread of the coronavirus disease (COVID-19) in Wolfsburg, Germany April 25, 2020. REUTERS/Fabian Bimmer

The ruling by Germany’s highest court for civil disputes, which will allow owners to return vehicles for a partial

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Mitsui Sumitomo outlook ‘negative’ following coronavirus blow

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Mitsui Sumitomo Insurance (MSI) has received a negative outlook from Fitch Ratings, based on the impact of the coronavirus pandemic on the company’s financial strength and solvency.

According to a ratings advisory from Fitch, MSI’s outlook, insurer financial strength (IFS) rating and issuer default rating (IDR) have all been revised to negative from stable. Fitch has affirmed MSI’s IFS rating at ‘A+’ (strong), its IDR at ‘A’ and its US dollar subordinated debt at ‘A-’.

The insurer’s negative outlook, according to Fitch, reflects increased pressure on its capitalisation from stock-market volatility, a persistently low interest rate environment, and uncertainty and

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‘Bubble’ stocks like Beyond Meat and Peloton were supposed to blow up, but the opposite happened

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Peloton machine

Source: Peloton

Many on Wall Street were convinced the usual playbook would occur when this market and economic downturn hit.  Bubble-like tech stocks that led the way up would get crushed as a bear market exposed their hype and sent stock speculators scrambling.

But the opposite has happened. 

The names skeptics used to point their fingers at are actually among the biggest winners this year, and their strength pushed the tech-heavy Nasdaq Composite into positive territory on Thursday.

High-fliers Amazon and Netflix were the among the first stocks to fully make back the losses from the coronavirus sell-off

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Take Five: Trade winds to blow again?

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(Reuters) –

FILE PHOTO: A currency dealer works in front of electronic boards showing the Korea Composite Stock Price Index (KOSPI) and the exchange rate between the U.S. dollar and South Korean won, in Seoul, South Korea, March 23, 2020. REUTERS/Heo Ran

1/MAY DAY FOR CHINA

China has headed off on Labour Day holidays but its leaders won’t be resting easy. U.S. President Donald Trump has ratcheted up anti-China rhetoric again. He is threatening trade tariffs to punish Beijing for its alleged failure to contain the coronavirus, even accusing a Chinese lab of manufacturing the pathogen.

(Graphic: Chinese yuan fall

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