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Shareholders vote in Lagardere showdown with activist Amber

Reuters Business News - Tue, 05/05/2020 - 01:15
Activist investor Amber Capital faces its biggest test yet on Tuesday in its high-stakes bid to shake up governance at media and publishing firm Lagardere as shareholders vote on its attempt to revamp the French firm's supervisory board.
Categories: Reuters

Beiersdorf's La Prairie hit by collapse in travel retail

Reuters Business News - Tue, 05/05/2020 - 01:04
Nivea-maker Beiersdorf said on Tuesday its La Prairie premium skincare brand has been hit hard by the drop in international travel due to the coronavirus pandemic but sales of its medicinal creams and plasters jumped.
Categories: Reuters

EssilorLuxottica first-quarter sales slump on coronavirus hit, worst yet to come

Reuters Business News - Tue, 05/05/2020 - 00:47
Oakley and Ray-Ban maker EssilorLuxottica reported a slump in first-quarter sales on Tuesday and warned of an even bigger hit in the current quarter as the coronavirus outbreak prompted store closures.
Categories: Reuters

EssilorLuxottica first-quarter sales show first signs of coronavirus hit

Reuters Business News - Tue, 05/05/2020 - 00:21
Oakley and Ray-Ban maker EssilorLuxottica reported a steep decline in first-quarter sales as the coronavirus prompted store closures.
Categories: Reuters

BNP Paribas profit falls 33% on expected loan losses, equity trading hit

Reuters Business News - Tue, 05/05/2020 - 00:18
Profit at BNP Paribas fell by 33.1% in the first-quarter as the coronavirus crisis hit equity trading and prompted the eurozone's biggest bank to set aside more than half a billion euros in loan provisions.
Categories: Reuters

WeWork co-founder Neumann sues SoftBank over failed tender offer

Reuters Business News - Mon, 05/04/2020 - 23:32
WeWork co-founder Adam Neumann filed a lawsuit against Japan's SoftBank Group Corp and its Vision Fund on Monday for terminating a $3 billion tender offer to the office-sharing startup's shareholders.
Categories: Reuters

Duterte says sorry to Philippine tycoons, their firms' shares surge

Reuters Business News - Mon, 05/04/2020 - 23:18
Philippine President Rodrigo Duterte has apologised for his "hurting words" about two tycoons whom he openly dislikes, responding to their help in fighting the coronavirus by offering an olive branch to settle a costly regulatory row.
Categories: Reuters

Asian stocks, oil higher as economies emerge from lockdown

Reuters Business News - Mon, 05/04/2020 - 22:49
Asian stocks rose on Tuesday, tracking a late Wall Street rally as governments eased coronavirus lockdowns while oil extended gains on expectations fuel demand would begin to pick up.
Categories: Reuters

Tech-led Wall Street rebound set to lead Asia higher

Reuters Business News - Mon, 05/04/2020 - 22:06
A late Wall Street rally is expected to lead Asian stocks higher on Tuesday after tech shares and oil rose on easing coronavirus restrictions and prospects of an economic recovery, overcoming concerns about renewed Sino-U.S. trade tensions.
Categories: Reuters

Qantas secures more funding to wait out coronavirus crisis; shares rise

Reuters Business News - Mon, 05/04/2020 - 21:08
Qantas Airways Ltd said on Tuesday it had secured enough funding to last it through the end of next year, boosting its shares, as it reviews its fleet with the expectation that most international travel could take years to rebound.
Categories: Reuters

U.S. SEC eases crowdfunding rules for firms due to coronavirus disruption

Reuters Business News - Mon, 05/04/2020 - 20:55
The U.S. Securities and Exchange Commission (SEC) on Monday said it would provide relief to smaller firms seeking to raise capital via online platforms to meet "urgent funding needs" due to the coronavirus-related disruption.
Categories: Reuters

Apple borrows on the cheap to fund buybacks, dividends

Reuters Business News - Mon, 05/04/2020 - 19:02
Apple Inc on Monday capitalized on the Federal Reserve's emergency measures in response to the coronavirus outbreak to issue its cheapest bonds in years, making it the latest blue-chip company to do so to fund stock buybacks and dividends.
Categories: Reuters

Trump administration pushing to rip global supply chains from China: officials

Reuters Business News - Mon, 05/04/2020 - 18:54
The Trump administration is "turbocharging" an initiative to remove global industrial supply chains from China as it weighs new tariffs to punish Beijing for its handling of the coronavirus outbreak, according to officials familiar with U.S. planning.
Categories: Reuters

Qantas extends flight cancellations for two more months, raises more debt

Reuters Business News - Mon, 05/04/2020 - 18:40
Qantas Airways said on Tuesday it would extend flight cancellations into June and July, and added that it secured further debt funding that should support the airline through to the end of 2021 if the coronavirus crisis prolongs.
Categories: Reuters

United Airlines plans 30% cut to management ranks from October: company memo

Reuters Business News - Mon, 05/04/2020 - 18:36
United Airlines Holdings Inc has told employees that it expects its management and administrative ranks to be around 30% smaller starting in October, according to a company memo seen by Reuters.
Categories: Reuters

Intel buys Moovit transit app for $900 million to help develop robotaxis

Reuters Business News - Mon, 05/04/2020 - 18:27
Chipmaker Intel Corp has bought Israeli public transit app maker Moovit for about $900 million to help it develop self-driving "robotaxis" that could take to the streets in early 2022, the company said on Monday.
Categories: Reuters

Global shares fall on U.S.-Sino spat but Wall Street rebounds

Reuters Business News - Mon, 05/04/2020 - 17:57
The dollar rose on risk aversion and global stock markets fell on Monday as U.S.-Chinese bickering over the origin of the coronavirus outbreak sparked fear of a new trade war, but Wall Street rebounded as the lifting of lockdowns in some U.S. states boosted optimism.
Categories: Reuters

J. Crew files for bankruptcy as preppy retailer succumbs to COVID-19 fallout

Reuters Business News - Mon, 05/04/2020 - 17:18
J. Crew Group Inc filed for bankruptcy protection on Monday with a plan to hand over control to lenders, adding to a list of brick-and-mortar retailers pushed to the brink by widespread store closures in response to the COVID-19 pandemic.
Categories: Reuters

Wall Street snaps two-day slump on lift from tech titans

Reuters Business News - Mon, 05/04/2020 - 17:10
U.S. stocks ended higher on Monday as increases in large tech and internet companies and oil price gains outweighed concerns about the latest U.S.-China tensions and downbeat sentiment from the annual meeting of Warren Buffett's Berkshire Hathaway.
Categories: Reuters

U.S. coronavirus tariff exemptions sought for robots, drones, elevators

Reuters Business News - Mon, 05/04/2020 - 16:44
Major U.S. firms and trade groups want the U.S. Trade Representative's Office to waive tariffs on a wide range of Chinese-made products as a result of the coronavirus pandemic, including drones, robots, personal computers and 3D printers.
Categories: Reuters
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