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Current feed - Reuters: Business News

Oil drops below $57 on coronavirus impact and OPEC+ delay
Oil fell below $57 a barrel on Tuesday, pressured by concerns over the impact on oil demand from the coronavirus outbreak in China and a lack of further action by OPEC and its allies to support the market.

Walmart's holiday sales hurt by shorter season, lower demand for apparel
Walmart Inc reported lower-than-expected holiday quarter U.S. comparable sales on Tuesday as a shorter holiday season and weak demand for apparel, toys and electronics hurt sales in stores.

Nissan CEO tells angry shareholders he is ready to be sacked if no turnaround
Nissan's new chief executive said on Tuesday he would accept being fired if he fails to turn around Japan's second biggest automaker which is grappling with plunging sales in the aftermath of the scandal surrounding ex-chairman Carlos Ghosn.

Apple hits stocks, euro near three-year low
World stocks markets were knocked off record highs on Tuesday as two of the world’s mega companies reported damage from the coronavirus outbreak.

Boy Scouts of America files bankruptcy in wake of abuse lawsuits
The Boy Scouts of America said on Tuesday it had filed for Chapter 11 bankruptcy amid a flood of lawsuits over allegations of child sexual abuse stretching back decades.

If Apple is hurting due to the coronavirus, its suppliers and rivals likely are too
Apple Inc's surprise warning that it will likely fall short of this quarter's sales target due to the coronavirus epidemic points to much pain for its chip and other suppliers as well as for rivals who also rely on China to build their products.

China races to contain job losses as coronavirus batters economy
When cameraman Mark Xia returned to his job this month after holidays, the Shanghai video production house where he worked told him to take three months of leave with no pay, as a coronavirus epidemic takes a toll of China's businesses.

Apple warns sales to fall short of target due to coronavirus impact
Apple Inc warned on Monday it was unlikely to meet its March quarter sales guidance set just three weeks ago as the world's most valuable technology firm became one of the biggest corporate casualties of China's coronavirus epidemic.

Alstom shares fall after its $6.7 billion Bombardier rail deal
Alstom shares fell on Tuesday after the French firm agreed to buy the rail division of Canada's Bombardier for up to 6.2 billion euros ($6.7 billion), in a deal likely to be scrutinized by regulators and unions.

Amazon's Bezos pledges $10 billion to climate change fight
Amazon Chief Executive Officer Jeff Bezos will commit $10 billion to fund scientists, activists, nonprofits and other groups fighting to protect the environment and counter the effects of climate change, he said on Monday.

 

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