Shopify forecasts full-year revenue above estimates, shares rise
Canadian e-commerce company Shopify Inc on Wednesday posted better-than-expected quarterly earnings, helped by higher holiday sales, and forecast full-year revenue above Wall Street estimates, sending its U.S.-listed shares up about 9%.
Futures higher on drop in new coronavirus cases
U.S. stock index futures rose on Wednesday after a drop in the number of new cases of coronavirus infections in China raised hopes that the economic fallout from the outbreak would be contained.
Can a ‘numbers guy’ with insurance DNA finally fix AIG?
Peter Zaffino sat at 2 World Trade Center poring over financial reports on the morning of Sept. 11, 2001, when the first plane struck a neighboring building. Zaffino, known by colleagues for his laser-like focus, remained at his desk as staff began fle…
Kering frustrated with slow progress in cosmetics development
Gucci-owner Kering’s chairman Francois-Henri Pinault said on Wednesday the company was frustrated with the slow pace of progress in cosmetics development with license holder Coty .
Oil rises 2% as fall in new China coronavirus cases eases fuel demand concerns
Oil prices extended gains on Wednesday as China reported its lowest daily number of new coronavirus cases since late January, stoking investor hopes that fuel demand in the world’s second-largest oil consumer may begin to recover from the epidemic.
Airbus Helicopters signs order from Royal Thai Air Force
Airbus said on Wednesday its Airbus Helicopters unit had signed an order for six H135 military training helicopters from the Royal Thai Air Force.
Investors charge back into stocks on signs coronavirus spread is slowing
A drop in the number of new coronavirus cases and the Federal Reserve chairman’s optimistic view of the economy lifted world stocks for a third day on Wednesday and sparked a 2% rally in oil prices, on hopes the epidemic’s effects would be contained.
Souring energy loans wipe out ABN Amro’s profit growth
Souring energy loans eroded ABN Amro’s fourth quarter profit growth, it said on Wednesday, prompting the Dutch bank to launch another review of its trade and commodity finance operations.
SoftBank profit wiped out by Vision Fund losses, second fund scaled back
Quarterly profit at SoftBank Group Corp was almost wiped out as the Japanese technology giant was hit for a second straight quarter by losses at its $100 billion Vision Fund.
Exclusive: Thyssenkrupp-Kone merger would trigger litigation war – Schindler
Swiss elevator maker Schindler would embark on an all-out antitrust offensive in the courts to stall any deal to combine Thyssenkrupp’s lift division with rival Kone , board member Alfred Schindler told Reuters.
