Business & Finance News
British fashion retailer Superdry said its revenue plunged 37% in its latest quarter, reflecting the closure of its stores across the world because of the novel coronavirus.
Japan’s Nintendo Co Ltd said on Thursday it sold 21 million Switch units in the year ended March, smashing its forecast of 19.5 million units, with hit title Animal Crossing: New Horizons shifting 13.4 million units in its first six weeks.
The British parliament’s treasury committee chairman has told the chief executive of Barclays to explain delays to granting emergency loans to small businesses.
(Reporting by Pushkala Aripaka in Bengaluru; Editing by Anil D’Silva)
Norwegian Air’s deeply discounted 400 million crowns ($39 million) share issue, part of the company’s financial rescue plan, has now been oversubscribed by investors, the budget carrier said on Thursday.
British Airways-owner IAG said that chief executive Willie Walsh would stay on until September to steer it through the coronavirus crisis, and that it was planning for flights to return to service in July.
Britain’s biggest telecoms group BT has suspended its dividend until 2021/22, one of the biggest on the London stock exchange, and pulled its financial outlook in response to the COVID-19 pandemic.
British clothing retailer Next said on Thursday it will expand its beauty business by taking on five former Debenhams beauty departments and rebranding them as “The Beauty Hall from NEXT”.
British aero-engine maker Rolls-Royce signalled on Thursday it expects to cut some of its workforce to respond to the slump in the global aerospace market, saying it would inform affected employees before the end of this month.
Anheuser-Busch InBev , the world’s largest beer maker, forecast a “materially worse” second quarter as coronavirus restrictions curb drinking across the globe, while noting some improvement in China.
Norwegian Air’s passenger volume fell by 98.7% in April from a year earlier as most of its fleet was grounded due to the coronavirus pandemic, the budget airline said on Thursday.
The British businesses of Liberty Global Plc and Telefonica SA will merge to create a major new player in UK mobile and broadband communications in a deal valued at around 31 billion pounds ($38 billion) including debt.
Britain’s biggest telecoms group BT has suspended its dividend until 2021/22 and pulled its financial outlook in response to the COVID-19 pandemic.
Planemakers Airbus and Boeing have asked Air France to delay taking some wide-body jets after a manufacturing slowdown caused by the coronavirus crisis, the head of parent Air France-KLM told Reuters.
Liberty Global has agreed to merge its Virgin Media cable company with the O2 mobile business owned by Spain’s Telefonica to create a major new force in the British telecoms market.
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