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Ralph Lauren posts bigger-than-expected loss as lockdowns hammer sales

Reuters Business News - Wed, 05/27/2020 - 07:32
Ralph Lauren Corp posted a bigger-than-expected quarterly loss on Wednesday as stores across the world that sell its jackets, coats and Polo shirts were forced to close due to the COVID-19 pandemic.
Categories: Reuters

Futures climb as economic recovery hopes outweigh Sino-U.S. tensions

Reuters Business News - Wed, 05/27/2020 - 07:08
U.S. stock index futures advanced on Wednesday as hopes of an economic recovery eclipsed worries over simmering tensions between the United States and China.
Categories: Reuters

Americas will be hardest hit by COVID-19 job losses :ILO

Reuters Business News - Wed, 05/27/2020 - 07:07
The Americas will bear the brunt of an estimated 305 million job losses that the COVID-19 pandemic will cause worldwide between April and June, the International Labour Organization (ILO) said on Wednesday.
Categories: Reuters

Ryanair's holiday bookings surge, sees UK dropping quarantine

Reuters Business News - Wed, 05/27/2020 - 07:04
Ryanair expects Britain to join other European nations in dropping COVID-19 quarantine plans in the coming weeks, its CEO told Reuters on Wednesday, as he reported a "big surge" in holiday bookings from the country.
Categories: Reuters

Trump threatens to regulate or shut down social media companies

Reuters Business News - Wed, 05/27/2020 - 06:44
U.S. President Donald Trump on Wednesday threatened to regulate or shut down social media companies, one day after Twitter Inc for the first time added a warning to some of his tweets prompting readers to fact check the president's claims.
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LATAM becomes largest airline driven to bankruptcy by coronavirus

Reuters Business News - Wed, 05/27/2020 - 06:42
LATAM Airlines Group , the continent's largest carrier, filed for U.S. bankruptcy protection on Tuesday, becoming the world's largest carrier so far to seek an emergency reorganization due to the coronavirus pandemic.
Categories: Reuters

Timeline: From boom to bottom: Renault and Nissan bet on deeper cooperation

Reuters Business News - Wed, 05/27/2020 - 06:35
Renault SA , Nissan Motor Co and Mitsubishi Motors have no plans to merge and will instead focus on a new production sharing plan to cut costs and improve efficiency, Chairman Jean-Dominique Senard said on Wednesday.
Categories: Reuters

Renault-Nissan announce plan to deepen cooperation to ensure group's survival

Reuters Business News - Wed, 05/27/2020 - 06:33
Renault SA, Nissan Motor Co and Mitsubishi Motors Corp on Wednesday announced details of a new strategy plan pledging to deepen cooperation in developing and producing cars to survive as an automaking group.
Categories: Reuters

Euro rallies on EU recovery fund proposals, yuan falls

Reuters Business News - Wed, 05/27/2020 - 06:32
The euro headed towards a two-month high on Wednesday after the European Commission proposed a coronavirus economic recovery package worth in total 1.85 trillion euros ($2.04 trillion).
Categories: Reuters

Stocks, euro rise on massive EU stimulus plan

Reuters Business News - Wed, 05/27/2020 - 06:30
World shares surged on Wednesday as reports of a European Union rescue fund helped offset concerns about unrest in Hong Kong over Beijing's proposed national security laws.
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Exclusive: Volkswagen in final talks to seal biggest M&A deals in China EV sector - sources

Reuters Business News - Wed, 05/27/2020 - 06:25
Volkswagen AG is in final talks to seal its largest investment deals with Chinese electric vehicle (EV) firms, two sources said, as the German automaker accelerates its push into the world's largest market for environmentally friendlier cars.
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Why U.S. energy CEOs will get big payouts despite oil meltdown

Reuters Business News - Wed, 05/27/2020 - 06:11
National Oilwell Varco Inc (NOV) has had a rough few years: Since 2017, the Houston company, whose drilling equipment is in major oilfields worldwide, has lost two-thirds of its value, costing shareholders a combined $9 billion.
Categories: Reuters

Administrators deny South African Airways set to start flying

Reuters Business News - Wed, 05/27/2020 - 05:31
Administrators at South African Airways (SAA) said on Wednesday the state-owned airline was not preparing to resume domestic flights, rejecting a company statement from a day earlier and underlining conflicting visions of its future.
Categories: Reuters

Hong Kong lines up MSCI derivatives launch amid doubts on city's future

Reuters Business News - Wed, 05/27/2020 - 04:46
Hong Kong's exchange is launching derivatives with index provider MSCI in a deal that hurts rival Singapore and boosts its global appeal amid U.S. warnings that Chinese pressure on the city’s autonomy threatens its future as a financial hub.
Categories: Reuters

Ryanair says holiday bookings surge, sees Britain dropping quarantine

Reuters Business News - Wed, 05/27/2020 - 04:36
Ryanair expects Britain to join European nations in dropping COVID-19 quarantine plans in the coming weeks, Chief Executive Michael O'Leary said in an interview on Wednesday, reporting a "big surge" in holiday bookings from the country.
Categories: Reuters

China's Chery Auto plans to sell cars in EU, United States: chairman

Reuters Business News - Wed, 05/27/2020 - 04:32
China's Chery Automobile, which has a manufacturing partnership with Jaguar Land Rover (JLR) , is planning to sell its own-branded cars in the European Union and United States for the first time, its chairman said.
Categories: Reuters

Hugo Boss sees recovery in third quarter at earliest

Reuters Business News - Wed, 05/27/2020 - 04:25
Hugo Boss expects a recovery in its business in the third quarter at the earliest due to store closures and consumer caution during the coronavirus pandemic, the chief executive of German fashion house said on Wednesday.
Categories: Reuters

Huawei Meng's U.S. extradition case hinges on key ruling in Canada on Wednesday

Reuters Business News - Wed, 05/27/2020 - 04:20
A Canadian judge will rule Wednesday on a key aspect of Huawei Technologies Chief Financial Officer Meng Wanzhou's extradition to the United States, with a favourable judgment seen as paving the way for the release of the Chinese executive after 18 months of house arrest.
Categories: Reuters

Hong Kong unrest worries curb global shares rally

Reuters Business News - Wed, 05/27/2020 - 04:20
Unrest in Hong Kong over Beijing's proposed national security laws weighed on global shares and oil prices on Wednesday, offsetting optimism about the re-opening of the world economy.
Categories: Reuters

H&M sees furloughed HQ staff returning to work in July

Reuters Business News - Wed, 05/27/2020 - 04:02
Sweden's H&M expects the 2,500 furloughed staff at its headquarters in Stockholm to return to work in July, the world's second-largest fashion retailer said on Wednesday.
Categories: Reuters
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