Business & Finance News
Canadian e-commerce company Shopify Inc’s full-year revenue forecast above analysts’ estimates and better-than-expected quarterly earnings on higher holiday sales, pushed its shares to a record high on Wednesday.
Airlines are facing a fall in profits as the coronavirus crisis hits passenger demand and prolongs weakness in economically sensitive air freight, planemaker Boeing warned on Wednesday.
BP set one of the oil sector’s most ambitious targets for curbing carbon emissions on Wednesday as new chief executive Bernard Looney began the biggest revamp in its 111-year history.
Oil prices rose 3% on Wednesday as China reported its lowest daily number of new coronavirus cases since late January, stoking investor hopes that fuel demand in the world’s second-largest oil consumer may begin to recover.
Boeing Co Chief Financial Officer Greg Smith said on Wednesday that it will take at least a couple of years before 737 MAX production rate can reach the 57 units per month that the company was targeting before the airplane was grounded last year.
BP plans deep cuts to its carbon emissions by 2050, setting one of the oil sector’s most ambitious targets, as part of the biggest overhaul in the company’s 111-year history by new chief executive Bernard Looney.
SoftBank CEO Masayoshi Son threw cold water on Wednesday on the idea of cutting his firm’s $150 billion stake in e-commerce giant Alibaba , after prominent activist investor Elliott Management called for big buybacks.
Shareholder activists focused on climate issues vowed to press proxy battles with JPMorgan Chase & Co after getting a cold reception from the top Wall Street bank, even though Chief Executive Jamie Dimon has vowed to protect the environment.
The S&P 500 and the Dow Jones Industrials hit record highs minutes after the open on Wednesday on signs that the coronavirus outbreak is slowing in China.
World markets started shrugging off the worst of the coronavirus impact last week and stock markets have since reached record highs. China’s announcement that new cases of the so-called COVID-19 detected on Tuesday were at their lowest since Jan 30 has only consolidated those gains.
Nissan Motor Co could be heading for its first quarterly loss in more than a decade, three company sources said on Wednesday, as news emerged the Japanese carmaker is seeking $91 million in damages from ousted former boss Carlos Ghosn.
French telecoms group Orange has also decided to pull out of the Mobile World Congress telecoms event in Barcelona due to concerns over the coronavirus, said a source close to the matter on Wednesday.
The organizers of the Mobile World Congress (MWC) said on Wednesday they were monitoring “the fast-changing” development of the coronavirus, in a statement issued after sources said the event in Barcelona was likely to be called off.
Britain’s biggest telecoms group BT said on Wednesday it was pulling out of the Mobile World Congress in Barcelona because of the coronavirus outbreak.
Organisers of the Mobile World Congress (MWC) will decide on Wednesday whether to cancel the event, two sources said, after several major European telecom companies pulled out due to the coronavirus outbreak.
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