Chinese consumers snap up yoga mats, video games, condoms as coronavirus keeps them at home
As the coronavirus epidemic keeps hundreds of millions of Chinese stuck at home, they’re shopping online to stave off boredom with games for Nintendo’s Switch console, yoga mats, books and condoms all showing big jumps in orders.
EU extends EssilorLuxottica, GrandVision antitrust investigation to July 6
EU antitrust regulators on Tuesday extended their investigation into Ray-Ban maker EssilorLuxottica’s 7.2 billion-euro ($7.8 billion) bid for Dutch opticians group GrandVision by two weeks to July 6, according to an EU filing.
Oil steadies above $56 as supply constraints counter virus fears
Oil steadied above $56 a barrel on Tuesday after two days of declines as OPEC output cuts and Libyan supply losses balanced concerns about the spread of the coronavirus and its impact on oil demand.
China’s main manufacturing hubs reboot after virus shutdown
As many parts of China ease coronavirus travel curbs, main manufacturing hubs in the east and south are seeing hundreds of thousands of migrant workers returning to work and more traffic on the roads during rush hours.
Global stocks pause after coronavirus shakeout
Global stock markets stabilised on Tuesday after a wave of early selling petered out and Wall Street futures managed a solid bounce after the previous day’s sharp selloff on fears about the spreading coronavirus.
Tesco completes China exit with $357 million stake sale
Britain’s biggest retailer Tesco has completed its exit from China with the 275 million pound ($357 million) sale of its joint venture stake to state-run partner China Resources Holdings (CRH).
Tesco completes China exit with joint venture stake sale
Britain’s biggest retailer Tesco has completed its exit from China with the sale of a 20% stake in a joint venture to a unit of its state-run partner China Resources Holdings (CRH), raising 275 million pounds ($357 million).
Amazon expands physical footprint with bigger cashier-less grocery shop
Amazon.com Inc is bringing its cashier-less store technology to a larger stage.
Oil prices rise on bargain-hunting; virus fears cap gains
Oil climbed on Tuesday as investors sought bargains after crude benchmarks slumped almost 4% in the previous session, although concerns about the coronavirus spreading out of China and curbing major economies and fuel demand capped gains.
SoftBank-backed Grab raises $856 million from Japanese investors in financial services push
Southeast Asia’s Grab said Japan’s Mitsubishi UFJ Financial Group Inc (MUFG) and IT services firm TIS Inc have agreed to invest a combined $856 million in the ride-hailing firm, as it seeks to expand aggressively into financial services.
