Coronavirus outbreak: Sportswear giants Puma and Adidas warn on trading impact February 19, 2020 German sportswear giants Puma and Adidas have warned that the outbreak of coronavirus in China has hurt trading due to the temporary closure of stores and a drop in footfall. Puma said the outbreak will impact sales and profits in the first quarter of the year, after it was forced to shutter more than half [...]
FTSE 100 climbs back after Apple’s coronavirus blow February 19, 2020 The FTSE 100 staged a recovery from yesterday’s two-week low today as traders welcomed a smaller increase in the number of new coronavirus cases. The number of Covid-19 cases rose to 75,000 today but China reported a second consecutive low number of new infections at 1,749. The death toll also climbed to 2,004 but the [...]
Coronavirus death toll hits 2,000 as passengers leave Diamond Princess cruise ship February 19, 2020 Hundreds of passengers started to disembark the quarantined Diamond Princess cruise ship today as the coronavirus death toll moved past 2,000 in mainland China. While the death toll hit 2,004, China reported only 1,749 new cases of Covid-19 to bring the total to 74,000. The novel strain of coronavirus is believed to have emerged from [...]
Apple supply chain sinks into red on coronavirus fears February 18, 2020 Shares in Apple slipped more than two per cent in afternoon trading while its suppliers around the globe were dragged into the red after the tech giant warned the coronavirus outbreak would impact its quarterly targets. The iPhone maker last night told investors that it would not meet its revenue forecast of between $63bn (£48bn) [...]
Trump issues fresh warning over ‘untrustworthy’ Huawei February 17, 2020 US President Donald Trump has launched a fresh attack on Huawei, warning his country could cut intelligence sharing with any ally that cooperates with the Chinese tech firm. Trump told the US ambassador to Germany Richard Grenell that “any nation who chooses to use an untrustworthy 5G vendor will jeopardise our ability to share intelligence [...]
US private equity funds swoop on UK for cheap deals February 17, 2020 The acquisition of UK companies by US private equity funds jumped 53 per cent last year as the depressed value of UK businesses make them attractive to overseas buyers. The value of UK companies acquired by US funds hit £14.2bn last year, up from £9.3bn in 2018. Brexit and pre-election uncertainty meant UK shares went [...]
US private equity snaps up UK companies on the cheap February 17, 2020 The total value of acquisitions of UK companies by US private equity funds jumped 53 per cent last year to £19.9bn. According to a report by law firm Mayer Brown, the depressed valuations of UK companies versus their European peers has made them look to be good value for funds. The period of Brexit uncertainty, [...]
Stockholm enters Global Cities top 30 for the first time February 14, 2020 With a strong economy and commitment to reducing its environmental impact, Stockholm is the first Scandinavian city to make the top 30 of Schroders’ Global Cities Index. Stockholm has become the first Scandinavian city to enter the top 30 of the Schroders Global Cities Index. This is because of its robust economy and committment to reducing [...]
Astrazeneca profits slump in final quarter as firm warns of coronavirus hit February 14, 2020 Pharmaceuticals giant Astrazeneca saw profit nearly halve in the fourth quarter as the firm hit a bump in its road to recovery. The FTSE blue chip warned that its 2020 growth would take a hit due to the expected knock-on effect of the coronavirus in China, its second biggest market. Shares in the UK firm [...]
Renault hits the skids as Nissan scandal pushes carmaker to a loss February 14, 2020 Renault posted its first loss in a decade today as the French car giant took a hit from its alliance with Nissan, which remains mired in a scandal concerning former boss Carlos Ghosn. The company lowered its guidance on the back of the results, setting a margin between three and four per cent, down from [...]