Ford shares slide after weaker-than-expected 2020 forecast February 4, 2020 Ford shares nosedived after it handed investors a weaker-than-expected 2020 forecast, warning that quality problems, lower profits at its credit arm and continued investments in unprofitable self-driving cars would weigh down profits. Shares fell 9.7 per cent in after-hours trading. “The results were not OK in 2019,” Ford’s chief financial officer Tim Stone told reporters at [...]
Clashes as police try to clear Hong Kong protesters after rally December 22, 2019 Hong Kong riot police pepper sprayed protesters to disperse crowds in the heart of the city’s financial district on Sunday after a largely peaceful rally in support of China’s Uighur ethnic minority turned chaotic. Dozens of police marched across a public square overlooking Hong Kong’s harbour to face off with protesters who hurled glass bottles and rocks at them. [...]
Tesco withdraws Christmas cards from sale over forced labour claims December 22, 2019 Tesco has suspended a Chinese Christmas card supplier following reports a customer found a message written inside a card saying it had been packed by foreign prisoners who were victims of forced labour. “We abhor the use of prison labour and would never allow it in our supply chain,” a Tesco spokesperson said on Sunday. Read more: Tesco [...]
Donald Trump invites Boris Johnson to White House December 22, 2019 US president Donald Trump has reportedly invited prime minister Boris Johnson to visit him in the White House in the new year. The Sunday Times reported that Trump’s invitation to Johnson was made after the British prime minister’s recent election win. Read more: European stocks rally as Boris Johnson’s Brexit deal is approved Formal discussions [...]
Wework in talks with T-Mobile boss over chief executive role November 11, 2019 Wework has started a search for a new chief executive following the departure of co-founder Adam Neumann, people familiar with the matter said on Monday, as the US office-sharing start-up seeks to reverse its widening losses. Wework’s current co-chief executives, Artie Minson and Sebastian Gunningham, have only been in place since September, but talks indicated [...]
Printer maker Xerox ‘in $33bn bid for HP’ November 6, 2019 US printer maker Xerox has made a roughly $33bn (£25.7bn) cash-and-stock offer for personal computer maker HP, a move on a company more than three times its size, people familiar with the matter said on Wednesday. Five days ago Enrique Lores, previously the president of HP’s imaging and printing business, officially took over as its [...]
Qualcomm’s upbeat profit forecast, results send shares higher November 6, 2019 Qualcomm has forecast current-quarter profit above Wall Street expectations and beaten estimates for fourth-quarter revenue from its closely watched licensing business, sending its shares up five per cent in extended trading. The world’s biggest supplier of mobile phone chips expects between 1.75bn and 1.85bn smart devices with modem chips, including 175m to 225m 5G handsets, [...]
Facebook executives planned ‘switcharoo’ on data policy change November 6, 2019 Facebook began cutting off access to user data for app developers from 2012 to squash potential rivals while presenting the move to the general public as a boon for user privacy, according to court documents reviewed by Reuters. Some executives at the world’s biggest social network appeared to refer to the strategy of promoting a [...]
Boots owner Walgreens exploring taking pharmacy chain private November 5, 2019 Walgreens Boots Alliance has been exploring whether to go private following private equity interest in the US pharmacy chain, which has a market value of more than $55bn, according to people familiar with the matter. In recent months, Walgreens has held preliminary discussions with some of the world’s largest private equity firms about putting together [...]
