Business News :

After Mastercard, PayPal sees revenue hit from coronavirus outbreak

Payments processor PayPal Holdings Inc said on Thursday it expects first-quarter revenue to be at the lower end of its previously forecast range, blaming disruptions caused by the coronavirus outbreak and sending its shares down 1.5%.

Nokia shares rise on report of possible mergers, assets sales

Shares in Nokia Oyj rose in a falling market on Thursday, after Bloomberg News reported that the Finnish telecom network equipment maker was considering asset sales and mergers.

U.S. firms set for zero profit growth this year as virus spreads - Goldman Sachs

U.S. companies will see profits stagnate in 2020 thanks to the spread of the coronavirus in China and beyond, Goldman Sachs said on Thursday, slashing its expectations for average corporate earnings this year.

U.S. fourth-quarter GDP unrevised; weakness in business spending persists

The U.S. economy grew moderately in the fourth quarter, the government confirmed on Thursday, and is facing a bumpy road in early 2020 amid the fast-spreading deadly coronavirus that has roiled financial markets.

Microsoft shares fall 4% after warning of coronavirus hit to supply chain

Shares of Microsoft Corp fell more than 4% on Thursday after the company warned of weakness in PC business due to a hit to its supply chain from the coronavirus outbreak, echoing similar statements from Apple Inc and HP.

Too white, too male: Fed takes on diversity one bank board member at a time

The Federal Reserve, long criticized for being too white and male, crossed a substantial milestone last year: for the first time in its 107-year history, white men held fewer than half of board seats at the Fed's 12 regional outposts.

Tata Motors, two group finance firms accused of antitrust violations in India - sources

India's competition regulator is examining allegations that Tata Motors and two finance firms of its $100 billion parent group abused their market position while selling commercial vehicles, according to three sources and legal documents seen by Reuters.

China's trade faces challenges as small firms battle coronavirus impact

China's foreign trade faces challenges as small- and mid-size firms in its supply chains battle financing difficulties amid trade curbs, lack of raw materials and delayed payments during a coronavirus outbreak, the commerce ministry said on Thursday.

Britain, on trade collision course with EU, says it could walk away

Britain unveiled a negotiating mandate on Thursday for talks with the European Union that puts it on a collision course with Brussels, saying it was ready to walk away if "good progress" was not made by June.

Best Buy warns of profit, sales hit on coronavirus fallout

Retailer Best Buy Co Inc forecast largely lower-than-expected annual profit and sales on Thursday as electronics makers curb manufacturing due the coronavirus epidemic, sending the shares down 4%.

WPP shares slump to lowest since 2012 as sales slide

WPP shares plunged to their lowest level in nearly eight years on Thursday after a sharp slowdown in fourth-quarter trading derailed the latest recovery attempt at the world's biggest advertising company.

What Britain wants from the EU on trade

Britain unveiled a tough negotiating mandate for talks with the European Union on Thursday, underlining its desire for future economic and political independence that pits London on a collision course with Brussels.

NMC Health's expansion and ailments

NMC Health said on Thursday trading in its shares on the London Stock Exchange had been suspended, a day after the UAE firm removed its chief executive and as details of an investigation into the company emerged.

Reckitt to spend 2 billion pounds on growth after big writedown

Reckitt Benckiser will invest 2 billion pounds ($2.6 billion) to spur growth, its new CEO announced on Thursday, as it reported a 5 billion pound writedown on baby formula maker Mead Johnson.

Zalando to tap designer labels, vintage to boost sales

Zalando plans to offer more premium and luxury ranges and move into the vintage clothing market as the online fashion retailer predicted slower sales growth in 2020 after a strong final quarter to 2019.

Wall St in correction territory on alarm over fast-spreading virus

Wall Street's main indexes slipped into correction territory minutes after the open on Thursday as the rapid spread of the coronavirus outside China deepened worries about growth and corporate earnings.

Virus-hit stocks shed $3 trillion; safe havens thrive

Risk aversion drove global stocks lower on Thursday, increasing their drop in value this week alone to more than $3 trillion, and U.S. Treasuries yields hit record lows as the coronavirus spread faster outside China than in.

IGC sees record world wheat crop in 2020/21 season

World wheat production is expected to rise to a record 769 million tonnes in the 2020/21 season boosted by a 2% rise in area, the International Grains Council said on Thursday.

India chicken sales slashed almost 50% by false virus rumour - Godrej Agrovet

A false rumour that the coronavirus can be spread by chickens has slashed Indian poultry sales by almost 50%, top supplier Godrej Agrovet Ltd said on Thursday.

India fines jewellery firm Gitanjali Gems for withholding information in $2 billion bank fraud

India's securities regulator on Thursday fined jewellery retailer Gitanjali Gems Ltd and its executives 50 million rupees ($695,700) for failing to disclose key information related to a $2 billion fraud at Punjab National Bank (PNB).