UK sportswear retailer JD Sports may have to sell Footasylum if it does not address competition concerns about last year’s acquisition of its smaller rival, Britain’s competition watchdog said on Tuesday after an in-depth review of the takeover.
(Bloomberg) — Oil prices indicated that global markets face a renewed surplus as Asia’s coronavirus hits demand, with discounts on prompt supplies emerging across the Brent futures curve.Brent crude has moved into a full “contango” structure in which each monthly contract is cheaper than the next, suggesting a glut in supply. Global demand estimates are being cut as the outbreak causes severe economic disruption in China, while OPEC is hesitating over steps to support prices.As the glut begins to accumulate, leading oil traders such as Vitoil SA, Royal Dutch Shell Plc and Litasco SA are seeking to hoard crude on …read more […]
A U.S. district judge is expected to rule in favor of allowing Sprint and T-Mobile US to merge over the objections of a group of state attorneys general, according to two sources familiar with the matter.
Deutsche Bank has invited bids from Microsoft, Google and Amazon to overhaul the German bank’s outdated and fragmented technology networks, people with knowledge of the matter said.
As the spread of coronavirus sends jitters across Hong Kong, usually bustling shopping malls, restaurants and retailers are deserted, leaving some small business owners contemplating their future in the global financial hub.
Lawmakers from Chancellor Angela Merkel’s conservative party are set on Tuesday to back a strategy paper that stops short of banning China’s Huawei from taking part in the rollout of Germany’s 5G network.
Daimler reported a 64% fall in 2019 net profit, its largest drop in a decade, despite record high Mercedes-Benz sales as CEO Ola Kaellenius signed off on more than 5 billion euros ($5.46 billion) in legal and restructuring charges.
(Bloomberg) — Sign up for Next China, a weekly email on where the nation stands now and where it’s going next.Mastercard Inc. won approval to set up a bank card clearing business in China, gaining access to a $27 trillion payments market as part of the nation’s financial opening.The announcement by the People’s Bank of China on Tuesday signals the country is moving ahead with the speedier opening of its financial system that was agreed on as part of the phase one trade deal with the U.S., even as it grapples with a virus outbreak.Mastercard and its partner, NetsUnion Clearing …read more […]
World stocks resumed rising towards record highs on Tuesday and the dollar reached a four-month high as China’s top medical advisor said the coronavirus epidemic may plateau in the next few weeks.
Airbus SE is confident of selling more than 1,000 A321XLR aircraft, a longer-range version of the single-aisle A321neo jetliner, over the next 10 years, a senior executive at the manufacturer said on Tuesday.
The U.S. Federal Aviation Administration is narrowing the issues needed before it can conduct a certification test flight on the grounded Boeing 737 MAX, but will not commit to a timetable for lifting a flight ban, its top official said.
(Bloomberg) — Ray Dalio says the impact of the coronavirus outbreak on markets has been exaggerated and is likely to be short lived.Investor concerns over the pandemic “probably had a bit of an exaggerated effect on the pricing of assets because of the temporary nature of that, so I would expect more of a rebound,” Dalio, the billionaire founder of Bridgewater Associates, said at a conference in Abu Dhabi on Tuesday. “It most likely will be something that in another year or two will be well beyond what everyone will be talking about.”As manager of the world’s biggest hedge fund, …read more […]
European travel company TUI said an exceptional number of holiday bookings would help offset the impact of the Boeing 737 MAX grounding on its annual profit, enabling it to lift the bottom end of annual earnings guidance.
Inter IKEA Group, owner of the IKEA furniture brand, appointed on Tuesday Jon Abrahamsson Ring as new Chief Executive from Sept. 1.
Copyright 1997-2019 Wall Street Reporter / Octagon Media Corp.
