Business & Finance News
Gucci-owner Kering has closed half of its stores in China and shelved new openings and advertising campaigns there as the coronavirus epidemic throws luxury brands into turmoil.
A drop in the number of new coronavirus cases and the Federal Reserve chairman’s optimistic view of the economy lifted world stocks for a third day on Wednesday and sparked a 2% rally in oil prices, on hopes the epidemic’s effects would be contained.
Food retailer Ahold Delhaize met forecasts with a 3% rise in fourth-quarter core earnings on Wednesday helped by its Food Lion and Hannaford U.S. grocery chains and strong online sales.
Heineken , the world’s second largest brewer, forecast lower barley and aluminum costs would help to boost profits this year, when its long-serving chief executive will step down.
Nissan Motor Co may report its first quarterly loss in more than a decade on Thursday because of slumping sales, sources familiar with the company said, adding more pressure on efforts to rebuild the company after Carlos Ghosn’s ouster.
Switzerland’s Schindler will embark on an all-out legal antitrust offensive if Thyssenkrupp selects Finland’s Kone as the buyer of its elevator division, board member Alfred Schindler told Reuters.
JPMorgan Chase & Co appointed Jabe Jerram and Simon Ranson as co-heads of investment banking (IB) for Australia and New Zealand, according to an internal memo seen by Reuters and confirmed by a spokesman in Sydney.
British supermarket group Sainsbury’s said on Wednesday that Roger Davis, chairman of its poorly performing banking division, will step down.
Oil prices extended gains 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 from the epidemic.
Food retailer Ahold Delhaize reported a 3% rise in fourth-quarter core earnings on Wednesday helped by its Food Lion and Hannaford U.S. grocery chains.
Heineken , the world’s second largest brewer, expects to benefit from lower barley and aluminum costs this year after 2019 earnings rose exactly in line with expectations.
Nissan Motor Co on Wednesday said it had filed a civil lawsuit in Japan against former Chairman Carlos Ghosn seeking 10 billion yen ($91.02 million) in damages over his alleged financial misconduct.
Dutch bank ABN Amro reported on Wednesday fourth-quarter net income that missed analysts’ estimates, hurt by lower interest income and higher impairments.
Nissan Motor Co on Wednesday said it had filed a civil lawsuit in Japan against former Chairman Carlos Ghosn seeking 10 billion yen ($91.02 million) in damages over his alleged financial misconduct.
The banking division of British supermarket group Sainsbury’s has started the search for a new chairman after Roger Davis notified the board he plans to step down, the firm said on Wednesday.
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