Indecisive EU to force ECB into more emergency action
After another disappointing EU summit, the European Central Bank finds itself in a familiar position as the leading saviour of the euro, once again being called upon to push out its boundaries while politicians bicker.
Nestle CEO not getting carried away by strong first-quarter sales growth
Nestle Chief Executive Mark Schneider warned on Friday against reading too much into the company’s first-quarter results, which marked its best quarterly growth for nearly five years as customers stockpiled food to deal with coronavirus shutdowns.
AmEx quarterly profit plunges 76% on $1.7 billion reserve build
Credit card issuer American Express Co posted a 76% drop in quarterly profit on Friday, as it set aside $1.7 billion to brace itself against potential non-payments due to a wave of coronavirus-led layoffs.
HSBC to push on with overhaul ‘wherever possible’ despite crisis
HSBC will press ahead with plans to shift capital from underperforming businesses, cut costs and strip out layers of management, despite problems caused by the coronavirus pandemic.
Singtel secures $3 billion in bank credit for subsidiaries
Singapore Telecommunications’ (Singtel) subsidiaries have secured close to $3 billion in bank credit facilities, it said on Friday.
Facebook’s big India deal portends a bruising time for SoftBank-backed Paytm
Facebook’s $5.7 billion investment in Reliance promises to be the biggest headache yet for Paytm, a SoftBank-backed pioneer in India’s digital payments market but which has been losing ground to rivals with deeper pockets.
Global stocks fall on worries over EU stimulus details, coronavirus drug
Global shares fell on Friday, hit by delays to an agreement on divisive details of the European Union’s stimulus package and doubts about progress in the development of drugs to treat COVID-19.
HSBC to press ahead with overhaul ‘wherever possible’, despite coronavirus
HSBC will press on with plans to reallocate capital from underperforming businesses, cut costs and strip out layers of management, its Chief Executive Noel Quinn said, despite problems caused by the coronavirus pandemic.
French court rules against CGT union in row with retailer Carrefour
A French court on Friday rejected a request from the CGT union that a Carrefour hypermarket near Lille be forced to close aisles selling non-esssential products and it ordered the union to pay 1,000 euros compensation to the supermarket group.
Explainer: How China’s retail investor army got burned by the shock oil collapse
China’s retail investors take punts on everything from mainstream stocks to niche commodities and derivatives, and many were badly burned this week by exposure to U.S. oil contracts which collapsed below zero for the first time, wiping out several smal…
