Furniture brand IKEA’s main retail vehicle said on Friday shoppers were returning quickly to its shopping centres after it reopened three in China last week, and one in Germany this week – its first four to open after closures due to the coronavirus.
On April 16, the $349 billion first round of the government’s Paycheck Protection Program (PPP) for small business coronavirus relief loans ran out of money after just 13 days. …read more […]
Nestle Chief Executive Mark Schneider warned on Friday against reading too much into the company’s first-quarter results, which marked its best quarterly growth for nearly five years as customers stockpiled food to deal with coronavirus shutdowns.
Credit card issuer American Express Co posted a 76% drop in quarterly profit on Friday, as it set aside $1.7 billion to brace itself against potential non-payments due to a wave of coronavirus-led layoffs.
Verizon Communications Inc withdrew its full-year revenue outlook on Friday as it lost 68,000 phone subscribers who pay a monthly bill in the first quarter amid lockdowns that closed 70% of its stores.
Rumors of a Rackspace IPO are rapidly spreading. Investors are now asking if the rumors are true. Will Rackspace stock be back on the market?
If Rackspace goes public, it wouldn’t be the first time. But times are different, and the coronavirus is a big factor for any IPO. So, will Rackspace go public? Here’s what we know…
Rackspace IPO: The Business
Dirk Elmendorf, Richard Yoo and Pat Condon founded Rackspace in 1998. Rackspace is an American technology company based in Windcrest, Texas. But the company also has offices in Australia, Switzerland, Germany and Singapore, just to name a few. It’s a cloud …read more […]
HSBC will press ahead with plans to reallocate capital from underperforming businesses, cut costs and strip out layers of management, despite problems caused by the coronavirus pandemic.
Verizon Communications Inc lost 68,000 phone subscribers who pay a monthly bill in the first quarter, as people stayed indoors due to lockdowns to halt the spread of the coronavirus.
Analysts expected Verizon to gain just 100 subscribers in the quarter ended March 31, according to research firm FactSet. The company also cut its full-year adjusted earnings per share outlook to between a growth of 2% and a fall of 2%. In the first quarter, Verizon’s earned $1.26 per share, above analysts’ average estimate of $1.22, according to IBES data from Refinitiv. …read more […]
Facebook’s $5.7 billion investment in Reliance promises to be the biggest headache yet for Paytm, a SoftBank-backed pioneer in India’s digital payments market but which has been losing ground to rivals with deeper pockets.
Global shares fell on Friday, hit by delays to an agreement on divisive details of the European Union’s stimulus package and doubts about progress in the development of drugs to treat COVID-19.
HSBC will press on with plans to reallocate capital from underperforming businesses, cut costs and strip out layers of management, its Chief Executive Noel Quinn said, despite problems caused by the coronavirus pandemic.
A French court on Friday rejected a request from the CGT union that a Carrefour hypermarket near Lille be forced to close aisles selling non-esssential products and it ordered the union to pay 1,000 euros compensation to the supermarket group.
China’s retail investors take punts on everything from mainstream stocks to niche commodities and derivatives, and many were badly burned this week by exposure to U.S. oil contracts which collapsed below zero for the first time, wiping out several small accounts.
Oil prices were broadly steady on Friday but headed for their third weekly loss as production shutdowns failed to keep pace with sliding demand due to the coronavirus crisis.
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