Expectations of more central bank stimulus lifted world stocks to their highest in more than a week on Wednesday, helping investors look past a mounting coronavirus death toll and policymakers’ concerns for the disease’s economic impact.
Vodafone will remove Huawei technology from the core of its European networks following Britain’s decision to restrict the Chinese company’s role in 5G and new EU guidelines on the firm’s equipment, Chief Executive Nick Read said.
Oil prices jumped by more than 3% on Wednesday after reports that scientists have found an effective drug against China’s fast-spreading coronavirus, which has hit the world’s second-largest economy in recent weeks.
Qatar Airways is interested in increasing its stake in Chile’s LATAM Airlines to 20%, its chief executive said on Wednesday.
As the early numbers start flowing in for Cannabis 2.0 sales, analysts are starting to slash 2020 sales estimates for the category. Cannabis 2.0 refers to Canada’s legalization of cannabis products including vapes, edibles and beverages. Canopy Growth (CGC) was expected to be a leading player in this market launch, but the company still hasn’t been able to scale THC beverages, and the new CEO just took over a couple of weeks ago. The new CEO must now reorganize the business when announcing December results in early February to turn around the never-ending cash burn. Cannabis 2.0 FailureThe Canadian cannabis …read more […]
Rival British American Tobacco’s shares were also down 1%. The profit warning adds to the challenges for new CEO Stefan Bomhard – head of automotive services company Inchcape – whose appointment was announced on Monday with a start date yet to be disclosed. Imperial said first-half adjusted earnings per share in constant currency were expected to drop by 10%, as it writes-down inventories following the U.S. government ban on selling certain flavours for pod-based e-cigarettes, which goes into force on Thursday. …read more […]
Tobacco group Imperial Brands said it would not see any profit growth this year after tighter regulation in the United States, the world’s biggest vaping market, has sapped demand.
The chief executive of International Airlines Group (IAG) said he believes the overall impact of coronavirus on global air travel demand will be marginal.
Qatar Airways is in talks to acquire a 49% stake in RwandAir, its chief executive said on Wednesday.
(Bloomberg) — Elon Musk asked Twitter users whether Tesla Inc. should build a new factory in Texas, as the electric-car maker accelerates a global push to tap rising demand for its vehicles.The chief executive officer simply asked “Giga Texas?” and invited his 31 million followers to vote “Hell yeah” or “Nope.” As of just after midnight San Francisco time Wednesday, more than 125,000 people had voted, with about 80% responding yes.Shares of Tesla have more than doubled this year, giving it a market value greater than that of General Motors Co. and Volkswagen AG combined. In January, the company started …read more […]
What is worrying Rao Yong more than the daily news updates of a virus outbreak gripping China is that he may soon have to shut his online handicraft store and tell the 1,400 craftswomen he employs he is no longer able to sell their work.
Babcock International said on Wednesday Archie Bethel would be retiring as the British engineering firm’s chief executive officer after being in the role for more than three years.
Hong Kong’s Cathay Pacific Airways Ltd has asked all its 27,000 employees to take three weeks of unpaid leave in coming months as it battles a fall in demand caused by a virus outbreak, the company said on Wednesday.
As the earnings season gets on and companies start reporting their results from Q4 2019, Wall Street’s analysts are taking note and declaring the winners. It’s not hard to determine which stocks are getting the seal of approval – those companies forecasting or reporting strong earnings.We’ve used TipRanks’ Daily Stock Ratings tool to take a closer look at three companies which have just seen ratings upgrades from top analysts. An upgrade is an important signal for investors to note – it shows that the stock in question has deeply impressed the reviewing analyst.The three companies on this list are Buy-rated, …read more […]
(Bloomberg) — As equity investors who bet against Tesla Inc. lick their wounds, some corners of the debt market are taking a different view.A hedge fund in Denmark that delivered a 29% return last year has stocked up on credit-default swaps on the world’s second-biggest automaker, based on a bet that its bonds are just too expensive.“It’s mispriced,” Daniel Pedersen, the chief investment officer at Asgard Credit Fund, said by phone. “Tesla could be upgraded to BB- during 2020, but even in that scenario the credit spread is still too tight.”Tesla has riveted market watchers as its bold predictions tempted …read more […]
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