Wilted flowers, empty cafes: China’s small businesses bear coronavirus costs
What is worrying Rao Yong more than the daily news updates of a virus outbreak gripping China is that he may soon have to shut his online handicraft store and tell the 1,400 craftswomen he employs he is no longer able to sell their work.
Cathay Pacific asks employees to take unpaid leave as virus hits demand
Hong Kong’s Cathay Pacific Airways asked its 27,000 employees to take three weeks of unpaid leave, saying preserving cash was key for the carrier and that conditions were as grave as during the 2009 financial crisis due to the virus outbreak.
British engineer Babcock’s Archie Bethel to retire as CEO
Babcock International said on Wednesday Archie Bethel would be retiring as the British engineering firm’s chief executive officer after being in the role for more than three years.
Oil climbs on hopes for output cuts to offset China virus impact
Oil prices rose on Wednesday, boosted by news that OPEC and its producer allies are weighing further output cuts to counter a potential squeeze on global oil demand resulting from China’s fast-spreading coronavirus.
‘Giga Texas?’ Musk asks Twitter users to vote on new gigafactory
Elon Musk, the billionaire chief executive officer of Tesla Inc , went on Twitter to ask users if the electric carmaker should build a new gigafactory in Texas.
Vodafone posts 0.8% third-quarter growth, driven by South Africa
Vodafone reported organic service revenue growth of 0.8% in the third quarter on Wednesday, an uptick from the second, helped by continued recovery in South Africa.
Imperial Brands warns of lower annual profit due to U.S. FDA ban
Tobacco group Imperial Brands said on Wednesday it expects full-year adjusted earnings to be slightly lower than last year due to a U.S. regulatory ban on some flavors of cartridge-based vapor devices and weaker consumer demand.
Danske Bank beats fourth-quarter net profit expectations
Danske Bank beat fourth-quarter net profit forecasts on Wednesday and said it expects to earn a net profit between 8 to 10 billion Danish crowns ($1.18-1.48 billion) in 2020.
Siemens posts weaker-than-expected first-quarter industrial profit
Germany’s Siemens on Wednesday reported weaker-than-expected industrial profit during its first quarter as a downturn in the manufacturing sector hit its flagship digital industries business and its wind power unit suffered losses.
GM rolls back ‘radical’ plan to offer only three-cylinder engines in some China cars: sources
General Motors Co is backtracking on an aggressive promotion of three-cylinder engines in China that saw some Buick and Chevrolet models offered only in that option – a move which proved highly unpopular and helped sales slide, people familiar with ma…
