Tobacco group Imperial Brands on Wednesday forecast a 10% drop in its first-half profit and cautioned on full-year earnings because of a U.S. regulatory ban on some flavors of cartridge-based vapor devices and weaker consumer demand.
The airline industry is “without question” healthy enough to absorb a significant downturn in China’s economy, said Willie Walsh, chief executive of International Airlines Group, which owns British Airways.
Elon Musk, the billionaire chief executive officer of Tesla Inc , went on Twitter to ask users if the electric carmaker should build a new gigafactory in Texas.
Vodafone reported organic service revenue growth of 0.8% in the third quarter on Wednesday, an uptick from the second, helped by continued recovery in South Africa.
Tobacco group Imperial Brands said on Wednesday it expects full-year adjusted earnings to be slightly lower than last year due to a U.S. regulatory ban on some flavors of cartridge-based vapor devices and weaker consumer demand.
The warning comes on the heels of Stefan Bomhard’s appointment as the chief executive officer of the FTSE 100-listed group. Growth of Imperial’s “next generation” products has slowed and the vaping market in the United States has taken a turn for the worse after vaping-related deaths and rising popularity of e-cigarettes among teens led to intense regulatory crackdown. “Regulatory uncertainty and adverse news flow continues to affect demand in the U.S. and Europe,” Imperial Brands said. …read more […]
Danske Bank beat fourth quarter net profit expectations on Wednesday and said it expects to earn a net profit of 8-10 billion Danish crowns in 2020.
BEIJING/SHANGHAI, Feb 5 (Reuters) – A state-run Chinese research institute has applied for a patent on the use of Gilead Sciences’ experimental U.S. antiviral drug, which scientists think could provide treatment for the coronavirus that has killed hundreds and infected thousands. The Wuhan Institute of Virology of the China Academy of Sciences, based in the city where the outbreak is believed to have originated, said in a statement on Tuesday it applied to patent the use of Remdesivir, an antiviral drug developed by Gilead, to treat the virus. The Wuhan Institute of Virology did not respond to Reuters’ …read more […]
Germany’s Siemens on Wednesday reported weaker-than-expected industrial profit during its first quarter as a downturn in the manufacturing sector hit its flagship digital industries business and its wind power unit suffered losses.
Japanese trading house Mitsubishi Corp is closely watching the development of a spreading coronavirus in China as it will affect the global economy and prices of natural resources, its chief financial officer said on Wednesday.
(Bloomberg) — Want the lowdown on what’s moving Asia’s markets in your inbox every morning? Sign up here.Asian stocks headed for their first back-to-back daily advance since concerns about the coronavirus erupted two weeks ago, while U.S. futures retreated after a powerful rally on Wall Street Tuesday.Asian currencies mostly retreated, pulled down by Singapore’s dollar, after that city’s central bank said there was room for easing. Hong Kong stocks gave up gains after a report on potential new restrictions to contain the virus. Japanese equities led advances. European equity futures slid. Bonds fell, though came off their lows late in …read more […]
A run on the lira proved a pivotal moment for Turkey’s financial markets in 2018, prompting action from Ankara that has tilted the economy inward and frightened off foreign investors.
Asian stocks steadied on Wednesday as Chinese shares moved higher on hopes of additional stimulus to cushion the economic blow from a coronavirus outbreak, but risks remain as the illness continued to spread and the death toll neared 500.
The United States is in its 11th year of a record-setting economic expansion, a fact that President Donald Trump highlighted in his State of the Union speech to Congress on Tuesday.
General Motors is backtracking on an aggressive promotion of three-cylinder engines in China that saw some Buick and Chevrolet models offered only in that option – a move which proved highly unpopular and helped sales slide, people familiar with matter said.
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