Rolls Royce could shut some factories with job cuts programme: CEO
Rolls Royce could close some of its factories as part of a programme to cut 9,000 jobs in response to the crisis in the global aviation industry, its chief executive said on Wednesday.
Oil steady as economic worries offset signs of firmer demand
Oil prices held steady on Wednesday despite signs of improving demand and a drawdown in U.S. crude inventories, as worries over the economic fallout from the coronavirus pandemic capped gains.
Angola’s oil exploration evaporates as COVID-19 overshadows historic reforms
The coronavirus pandemic has done in a handful of months what even a 27-year civil war did not: it has brought oil drilling to a halt in Angola, Africa’s second-largest oil producer.
Stocks adrift as vaccine rally falters; gold and bonds rise
Asian stocks struggled to extend the week’s rally on Wednesday, and gold and bonds firmed, as a sceptical press report dented some hopes for a COVID-19 vaccine and concerns about the global recovery from the pandemic returned.
Outlook for European corporate profits worsens further
Expectations for second- and third-quarter corporate profits are deteriorating further in Europe, despite a gradual easing across the continent of lockdowns aimed at curbing the coronavirus pandemic, Refinitiv data showed on Wednesday.
Coronavirus crushes Australia’s dividends with banks leading the decline
Australia has made the deepest dividend cuts globally this year, with more than $6 billion deferred or cancelled as companies conserve cash to ride out the coronavirus, turning foreign investors wary of the country’s normally high-yielding firms.
Johnson & Johnson to stop selling talc baby powder in U.S. and Canada
Johnson & Johnson will stop selling its talc Baby Powder in the United States and Canada, it announced on Tuesday, saying demand had fallen in the wake of what it called “misinformation” about the product’s safety amid a barrage of legal challenges.
Did hedge funds score on masks and sanitizer? Not so much
What would seem like a sure win for elite investors – early bets on companies racing to make face masks, hand sanitizer and other coronavirus-related protective products – turned out to be a relatively unpopular strategy and one with surprisingly mixed…
Luckin scandal ripple effect prompts chairman-backed firm to seek cash: sources
A company linked to China’s scandal-hit Luckin Coffee Inc is seeking fresh capital, sources said, highlighting the ripple effect of Luckin’s fabricated transactions as the chairman of both firms scrambles to avoid a cash crunch.
Oil rises on signs of firmer demand, fall in U.S. crude stocks
Oil prices rose on Wednesday amid signs of improving demand and a drawdown in U.S. crude inventories but worries over the economic fallout from the coronavirus pandemic capped gains.
