Business & Finance News
Oil prices rose on Thursday as U.S. markets opened, shrugging off bearish OPEC and IEA reports which cut back demand forecasts for this year on the back of the coronavirus outbreak in China, the world’s biggest oil importer.
Competition is cranking up in the world of turboprops.
The holding company of Italian fashion brands Liu Jo and Blumarine aims to list on the stock market within two years, chief executive and founder Marco Marchi said on Thursday.
Wall Street’s main indexes slipped from record highs at the open on Thursday as a sharp increase in the number of deaths and cases related to the coronavirus outbreak in China sent investors scurrying for safe-haven assets.
Tesla Inc made an about-turn on Thursday by announcing plans to raise $2 billion in a stock offering as the electric-car maker taps into an astronomical jump in its share price in the past few months.
Thyssenkrupp is seeing good initial feedback from potential suitors for its Plant Technology unit, its finance chief said, as the auction for the business is about to kick off officially.
Wall Street was set to open lower on Thursday after scaling record levels in the previous session, as a spike in new coronavirus deaths and cases in China sent investors scurrying for safe havens.
Kraft Heinz Co on Thursday missed quarterly sales estimates due to lower demand for products like bacon and cheese, and wrote down the value of some businesses – including coffee brand Maxwell House – by $666 million.
Credit Suisse Chief Executive Tidjane Thiam, ousted over a spying scandal, stands to collect as much as 30 million Swiss francs ($30 million) after resigning this month, two people familiar with the matter said.
Kraft Heinz Co on Thursday reported a 5.1% fall in quarterly sales, missing estimates due to lower U.S. demand for cheese, coffee, bacon and other products.
A sharp rise in the number of coronavirus deaths and infections unnerved world markets on Thursday, as traders halted the rally in stocks and retreated to the safety of government bonds and gold.
Tesla Inc said on Thursday it plans to raise $2 billion by selling shares through a public offering.
Apple will reopen some stores in Beijing on Feb. 14 with reduced operating hours, it said on its website, while many of its other stores in mainland China will remain shut as the country continues to battle a coronavirus outbreak.
China’s Alibaba Group Holding Ltd beat analysts’ estimates for quarterly results on Thursday, driven by record sales during its annual Singles’ Day shopping blitz and demand for its cloud computing business.
Southwest Airlines on Thursday extended cancellations of 737 MAX flights through early August as the grounding of the Boeing Co jet drags on, potentially affecting the carrier’s profits during the upcoming U.S. summer travel season.
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