Samsung Electronics Co Ltd said on Tuesday its first-quarter operating profit likely managed to rise slightly from a slump a year earlier, as solid chip sales helped cushion the blow from the coronavirus pandemic on smartphones and TVs.
British cinema operator Cineworld said on Tuesday it has shut all its 787 cinemas across 10 countries due to the coronavirus pandemic and that it was in talks with its lenders for ongoing liquidity requirements.
(Bloomberg) — Megvii Technology Ltd. for the first time revealed the stunning growth fueled by a nation’s obsession with security.The Alibaba Group Holding Ltd.-backed startup tripled revenue to 949 million yuan ($133 million) in the first half. It generated more than 73% of those sales from AI services for major clients like government agencies, hospitals and real estate developers, the company said in a filing to the Hong Kong Stock Exchange.Seven-year-old Megvii is said to be angling to raise as much as $1 billion in its initial public offering, becoming the first of China’s fast-rising AI stars to debut and …read more […]
French airports operator ADP is losing more than 3 million euros ($3.25 million) in sales a day due to the coronavirus crisis, Chief Executive Augustin de Romanet said on Tuesday.
British cinema operator Cineworld said on Tuesday all its 787 cinemas across 10 countries have been shut due to the coronavirus pandemic and that it was in talks with its lenders for ongoing liquidity requirements.
Asian firms appear better equipped to pay stable dividends compared with their western counterparts that are constrained by highly levered balance-sheets and a need to preserve cash during the coronavirus outbreak.
(Bloomberg) — U.S. and European stock futures advanced along with sovereign bond yields on continuing optimism that the deadly coronavirus outbreak may be waning in some key epicenters.The dollar, a key barometer of funding strains, retreated the most since late March. In another sign of easing stress, Indonesia mounted a record dollar bond sale. The MSCI Asia Pacific Index climbed almost 2% after advancing nearly 3% Monday. Futures on the U.S. S&P 500 rose after the index yesterday closed at its highest since March 13.China’s stocks climbed and the yuan edged up as markets there reopened in the wake of …read more […]
Employees at Valero Energy Corp’s Port Arthur, Texas, refinery expressed worries about the company’s slow response to keep the coronavirus from spreading there after two workers tested positive, four people familiar with the matter said.
Roku, Inc. (ROKU) has announced the arrival of “The Roku Channel” in the UK, a streaming channel providing consumers with free access to 10.000+ movies, TV episodes and documentaries. Boosted by a strong stock market session, ROKU shares surged 10% on Monday, bringing the year-to-date loss to 33%.There are no subscriptions or fees required to access The Roku Channel, but the programs will be interspersed with ads. Consumers must also own either a Roku streaming player, Roku TV, NOW TV device or Sky Q box.The UK Roku Channel will feature popular global and British TV series, alongside a special Kids …read more […]
Oil prices gained on Tuesday as hopes rose that the world’s biggest producers of crude will agree to cut output as the coronavirus pandemic crushes demand, even as analysts warn a global recession may be deeper than expected.
France’s Thales on Tuesday became the latest major company to slash its dividend, suspend profit guidance and top up liquidity in response to the coronavirus crisis.
China’s Ucar Inc, in which Luckin Coffee Chairman Charles Zhengyao Lu is the biggest shareholder, suspended trading of its shares on Tuesday after regulators questioned the car service provider about how the alleged fraud at Luckin would impact it. Ucar, in which Lu is chairman and CEO, said in a statement late on Monday that the company applied to halt trading in its shares to avoid abnormal price fluctuations and protect investor interest amid media reports on the company. Chinese media reports have linked the firm with Luckin, which said last week an internal investigation revealed sales …read more […]
China’s Ucar Inc, in which Luckin Coffee Chairman Charles Zhengyao Lu is the biggest shareholder, suspended trading of its shares on Tuesday after regulators questioned the car service provider about how the alleged fraud at Luckin would impact it.
A Hong Kong-based activist investor in Toshiba Corp has asked the Japanese conglomerate to sell its entire stake in Kioxia Holdings when the flash memory chip firm is listed in an IPO that could raise up to $32 billion, according to a letter reviewed by Reuters.
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