Russia’s Sistema-backed online retailer Ozon raises $50 million from U.S. fund
Russian online retailer Ozon, part-owned by the Sistema conglomerate, said on Tuesday it had raised $50 million from U.S. investment fund Princeville Capital through a convertible loan that can be turned into equity.
IKEA starts producing protective gear for health care workers
IKEA, the world’s biggest furniture brand, said on Tuesday it has started making protective gear such as aprons and facemasks for hospitals battling the spread of coronavirus, and aims to step up output further.
Explainer: What the Federal Reserve has done in the coronavirus crisis
The Federal Reserve has moved into overdrive to try to keep the U.S. economy from suffering lasting damage from the coronavirus pandemic, announcing an emergency interest rate cut on March 3 and rolling out new efforts almost weekly since, including sl…
Futures rise at end of dismal first quarter
U.S. stock index futures rose on Tuesday at the end of one of Wall Street’s worst first quarters on record, as an unexpected expansion in Chinese factory activity raised hopes of a more stable economic recovery from the coronavirus pandemic.
Ad giant WPP pulls dividend, buyback and outlook as clients cut spending
The world’s biggest advertising company WPP has pulled its dividend and share buyback and withdrawn its 2020 guidance after the coronavirus pandemic sparked the most uncertain time in its 35-year history.
Apple supplier Japan Display finalises deal to raise $200 million from ‘customer’
Japan Display said on Tuesday it has finalised a deal to raise $200 million from “an overseas customer,” which sources have said is Apple.
Vivendi closes sale of 10% stake in Universal to Tencent consortium
Vivendi closed on Tuesday the sale of a 10% stake in Universal Music Group (UMG) – home to Taylor Swift and The Beatles – to a Tencent-led consortium, in a deal giving UMG an enterprise value of 30 billion euros ($33 billion).
Oil rises after 18-year lows prompt U.S.- Russia talks plan
Oil prices firmed on Tuesday after U.S. President Donald Trump and Russian counterpart Vladimir Putin agreed to talks aimed at stabilising energy markets, with benchmarks climbing off 18-year lows hit as the coronavirus outbreak cut fuel demand worldwi…
Ineos to build third hand sanitizer plant in France in 10 days
British chemical company Ineos said on Tuesday it will build a third hand sanitizer plant in France in 10 days to help with a European shortage.
World stocks rally after Chinese data boost to close worst quarter since 2008
World stocks looked set to close their worst quarter since 2008 on a brighter note on Tuesday, as strong Chinese factory data held out hope for an economic revival even as much of the rest of the world shut down to fight the coronavirus.
