Tencent Music misses quarterly revenue estimates, signals better second quarter
China’s Tencent Music Entertainment narrowly missed market estimates for quarterly revenue on Monday as the COVID-19 crisis hurt the company’s social entertainment services business, sending its shares down 4.5% in extended trade overnight.
Hyatt to lay off 1,300 employees as pandemic cripples travel
Hyatt Hotels Corp said late Monday it would lay off 1,300 people globally as it tries to cope with the coronavirus crisis, which has virtually halted global travel by keeping people indoors.
Asian stocks stumble on fears of second coronavirus wave, oil up
Asian shares skidded on Tuesday on growing worries about a second wave of coronavirus infections after the Chinese city where the pandemic originated reported its first new cases since its lockdown was lifted.
Tim Hortons China says Tencent has invested, did not disclose amount
Tim Hortons China said Tuesday it received an investment from Chinese tech giant Tencent, as the Canadian coffee brewer seeks to expand in the Chinese market.
Logitech sales rise nearly 14% as work from home boosts demand
Logitech International reported a 13.6% rise in fourth-quarter sales on Tuesday as more people used its products while working from home due to the coronavirus crisis.
Hyatt to restructure and lay off 1,300 employees
Hyatt Hotels Corp said late Monday it would restructure roles and lay off employees across its operations worldwide, which would impact about 1,300 staff, amid a virtual halt in global travel to curb the spread of the coronavirus pandemic.
Montana judge upholds ruling that canceled Keystone XL pipeline permit
A federal judge in Montana on Monday upheld his ruling last month that canceled an environmental permit for the long-delayed Keystone XL oil pipeline and threatened other oil and natural gas pipeline projects with delays.
Boeing CEO sees passenger levels under 25% in September, pain for airlines: NBC interview
Boeing Co Chief Executive Dave Calhoun does not expect passenger traffic to reach even a quarter of its levels in September, creating the need for airlines to make “adjustments” as they weather the impact of the coronavirus pandemic.
Asian stocks set to fall on growing second virus wave fears
Asian equities and oil prices were set to slip on Tuesday amid growing investor worries about a second wave of coronavirus infections after the Chinese city where the pandemic originated reported its first new cases since its lockdown was lifted.
Bitcoin goes through third ‘halving’, falls vs U.S. dollar
Bitcoin slid on Monday in volatile trading, after it went through a technical adjustment that reduced the rate at which new coins are created, but the outlook remained upbeat as the increase in supply slows down.
