UK made a firm decision on Huawei in 5G: foreign ministry’s top official
Britain’s government made a firm decision to allow China’s Huawei to have a role in building the country’s 5G phone network and as far as the foreign ministry’s top official understands it is not being reopened, he said on Tuesday.
Oil giveaway brings out the bears
The crash in U.S. crude prices has turned a reliable commodity less than worthless and given fresh urgency to bearish voices, who say it sounds alarm bells for global growth and are bracing for a catastrophic collapse in asset prices.
Battered consumer confidence to slow airlines’ recovery: IATA
Faltering consumer confidence will slow the recovery of air travel once coronavirus restrictions end, the sector’s main global body warned on Tuesday, citing bleak new survey data.
Lockheed Martin profit beats, but company trims sales outlook on virus hit
Lockheed Martin reported better-than-expected quarterly profit on Tuesday, helped by higher sales in its aeronautics business that makes the F-35 fighter jets, but lowered its 2020 sales outlook due to coronavirus-led supply chain delays.
Oil at two-decade lows, price of U.S. crude for delivery below zero
Benchmark Brent and U.S. oil futures for June delivery plunged to around two-decade lows on Tuesday, a day after U.S. May futures sank into negative territory for the first time in history as demand tumbled due to the coronavirus crisis.
Futures slide as sub-zero U.S. crude adds to pandemic jitters
U.S. stock index futures resumed their slide on Tuesday as gloomy quarterly earnings reports and a historic collapse in U.S. crude prices to below zero raised the spectre of a deep global recession in the coming months.
Lululemon apologises after staffer offends with ‘bat fried rice’ T-shirt
Canadian exercise apparel brand Lululemon issued statements on Tuesday apologising for, and distancing itself from, a T-shirt design promoted by one of its art directors that triggered outrage and accusations of racism online.
The half a trillion dollar British money transfusion that may not be enough
It took Lucio and Meera Santoro 35 years to build up their London design company and just a week to watch it fall apart.
Oil crash slams stocks, dollar gains as risk sentiment rolls over
Global stocks fell on Tuesday, a day after U.S. crude oil prices turned negative for the first time ever, as dismal corporate earnings underlined worries about economic damage from the coronavirus pandemic.
Primark owner scraps dividend, takes charge for surplus stock as coronavirus crisis hits
Primark owner Associated British Foods will not pay an interim dividend to save cash during the coronavirus crisis and has booked a 284 million pound ($352 million) charge to reflect an expected lower value of stock when its stores reopen.
