Macy’s reopening 68 stores, targets all within six weeks as U.S. curbs loosen

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NEW YORK (Reuters) – Macy’s Inc plans to reopen 68 U.S. stores on Monday in states that have loosened coronavirus lockdowns, the department store operator said on Thursday, as more retailers sought to get business going after a crushing month of closures.

FILE PHOTO: People wait to enter Macy’s Herald Square ahead of early opening for the Black Friday sales in Manhattan, New York City, U.S., November 28, 2019. REUTERS/Andrew Kelly

Cincinnati, Ohio-based Macy’s, the largest U.S. department store operator by sales, said it expects to have all of its roughly 775 stores reopened in six weeks, if infection rates

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UK’s Gove says trade deal with EU is there to be done

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FILE PHOTO: Britain’s Chancellor of the Duchy of Lancaster, Michael Gove gestures as he holds the Daily Covid-19 Digital News Conference with NHS Medical Director, Professor Stephen Powis (not pictured) to update on the coronavirus disease (COVID-19) outbreak, at 10 Downing Street in London, Britain May 3, 2020. Pippa Fowles /10 Downing Street/Handout via REUTERS

LONDON (Reuters) – British Cabinet Office minister Michael Gove said on Sunday that there was a trade deal to be done with the European Union but it would require compromise from the bloc.

Both sides on Friday called for the other to give ground in

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Coronavirus pandemic poses challenges for digital banks in Asia: Fitch

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Fitch Ratings in New York, United States.

Cem Ozdel | Anadolu Agency | Getty Images

Those looking to enter the digital banking space in Asia may find it harder to do so now as some opportunities may have been lost in the coronavirus pandemic, according to Fitch Ratings.

The pandemic has hit the global economy hard and is disproportionately affecting people and businesses with a “weaker” borrower profile — the customer segment targeted by many aspiring digital banks, said Tamma Febrian, associate director for financial institutions at the ratings agency.

“A lot of them are citing the unbanked and the

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Munich Re reveals significant reduction in profit

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Munich Re has become the latest (re)insurance giant to reveal the impact of COVID-19 on its full-year 2020 results and while the company has posted a profit of €1.2 billion (around SG$1.93 billion), this is substantially down from the €2.7 billion (around SG$4.34 billion) figure for 2019. The reinsurer noted that the 2020 financial year was marked by high losses in connection with the COVID-19 pandemic, and that, in reinsurance, pandemic losses totalled €3.4 billion, with over €3 billion of this attributable to property-casualty reinsurance.

Adjusted for the impact of COVID, however, the group noted it would have met its

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