U.S. stock index futures resumed their slide on Tuesday as gloomy quarterly earnings reports and a historic collapse in U.S. crude prices to below zero raised the spectre of a deep global recession in the coming months.
Canadian exercise apparel brand Lululemon issued statements on Tuesday apologising for, and distancing itself from, a T-shirt design promoted by one of its art directors that triggered outrage and accusations of racism online.
It took Lucio and Meera Santoro 35 years to build up their London design company and just a week to watch it fall apart.
Global stocks fell on Tuesday, a day after U.S. crude oil prices turned negative for the first time ever, as dismal corporate earnings underlined worries about economic damage from the coronavirus pandemic.
Primark owner Associated British Foods’ decision not to pay an interim dividend to shareholders was “absolutely the right thing to do” given the coronavirus crisis, its boss said on Tuesday.
Primark owner Associated British Foods will not pay an interim dividend to save cash during the coronavirus crisis and has booked a 284 million pound ($352 million) charge to reflect an expected lower value of stock when its stores reopen.
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The rapid spread of the novel coronavirus, which was first detected in the Chinese city of Wuhan last December, has claimed the lives of nearly 170,000 across the globe and has forced restaurants, grocers, sports arenas and entertainment venues to shut doors. The Atlanta-based beverage maker, which last month said it would not be able to reach this year’s financial goals, now expects current-quarter comparable revenue to include a 4% to 5% hit from a stronger dollar. Excluding one-time items, Coke earned 51 cents per share, beating market consensus estimate of 44 cents, according to IBES data from …read more […]
The London Stock Exchange said it has no plans to change its targets for synergies from its planned $27 billion takeover of data and analytics company Refinitiv.
The London Stock Exchange said on Tuesday it was committed to completing its $27 billion takeover of data company Refinitiv in the second half of the year, with no plans to revise its savings targets for the deal as a deep recession beckons.
South Korea’s two state-owned banks said on Tuesday they will provide up to 1.7 trillion won ($1.4 billion) in fresh liquidity to Asiana Airlines , the country’s second-largest carrier, as the industry struggles with the coronavirus crisis.
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