Business & Finance News
Wirecard’s auditor has refused to sign off its 2019 accounts over a missing $2.1 billion, sending the German payments firm’s shares down over 60% on Thursday as it warned the delay could cause billions in loans to be called in as early as Friday.
Billions of euros of loans to Wirecard could be called in as early as Friday after the German payments company said its auditor had refused to sign off on its 2019 accounts, knocking more than half the value off its shares on Thursday.
U.S. stock futures fell on Thursday as an uptick in COVID-19 infections in parts of the United States threatened to upend bets of a swift economic recovery, with data showing that weekly jobless claims remained elevated.
Colgate-Palmolive on Thursday said it was working to review and evolve its Chinese toothpaste brand, Darlie, the latest in a string of brand reassessments amid a U.S. debate on racial inequality.
The luxury industry will feel the fallout from the coronavirus crisis for the next two years if not longer, Chanel’s chief financial officer said on Thursday, warning the French fashion label’s 2020 revenues and profit would be significantly hit.
Oil prices ticked up on Thursday after U.S. oil product stocks shrank, providing bulls with ammunition ahead of a meeting between OPEC producers and their allies to discuss their future output strategy.
U.S. private equity firm KKR said on Thursday it had reached an agreement to buy Dutch vacation parks firm Roompot from French private equity firm PAI Partners.
A second wave of layoffs amid weak demand and fractured supply chains is keeping new U.S. applications for unemployment benefits elevated, supporting views that the economy faces a long and difficult recovery from the COVID-19 recession.
Kroger Co said it expects to exceed its 2020 outlook for same-store sales and profit after beating Wall Street expectations for quarterly results on Thursday, as the U.S. supermarket chain benefited from consumers stocking up on essentials during the coronavirus lockdowns.
The European Commission is in advanced talks with pharmaceutical giant Johnson & Johnson to reserve or buy up-front doses of its COVID-19 vaccine under development, two officials familiar with the talks told Reuters.
Global stocks drifted lower on Thursday as an increase in new coronavirus cases in some U.S. states and China crushed hopes of a swift world economic comeback from the pandemic.
Wells Fargo & Co said on Thursday its investment adviser Wells Fargo Investment Institute will sell its feeder fund platform to fintech firm iCapital Network for an undisclosed amount.
The U.S. dollar and Japanese yen held their positions on Thursday as concerns about a rise in new coronavirus cases underpinned demand for safe-haven currencies, while the Norwegian crown was a star performer.
Futures tracking the S&P 500 and Dow indexes edged lower on Thursday as caution over an uptick in COVID-19 infections in parts of the United States and China weighed on the mood ahead of a weekly jobless claims report.
Mother’s Day during the coronavirus pandemic meant an uptick in sales for Lee’s Flower and Card Shop in Washington, D.C.
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