Aston Martin Lagonda’s losses surged to £227m in the first half of 2020 as the coronavirus pandemic closed the embattled UK luxury carmaker’s dealerships and prompted an executive clear-out. The carmaker was also forced to restate its income statements over two years after detecting an accounting error that led it […]
Read moreAnger Is Spreading in a Tinderbox on Europe’s Doorstep
LISTEN TO ARTICLE SHARE THIS ARTICLE It’s just after 8 p.m. in Algiers and the curfew imposed by the government to stop the coronavirus’s spread has been in effect for 15 minutes. Around this time each evening, when the blazing summer heat eases, three friends meet in the city’s western […]
Read moreHong Kong is 'on the verge' of an outbreak that could lead to hospital system's collapse, chief executive says
Confirmed cases in Hong Kong have soared in July, with a new daily high of 145 reported this week alone. "We are on the verge of a large-scale community outbreak, which may lead to a collapse of our hospital system and cost lives, especially of the elderly," Chief Executive Carrie […]
Read moreS&P Ups Netflix Credit Rating, Anticipating $3B Less In 2020 Content Production Spending
Ratings agency S&P upgraded Netflix’ corporate credit Tuesday, figuring the giant streamer will spend $3 billion less than anticipated this year on content production. It cited accelerated subscriber growth, improving margins, reduced cash flow deficits over the next two years and positive trends in SVOD. The agency is basically saying […]
Read moreUS blacklists 28 Chinese organizations and companies
Hong Kong (CNN Business)Global businesses are facing mounting pressure from activist groups and the US government to reexamine and cut any ties they might have to China’s Xinjiang region, where allegations of human rights violations have run rampant for years. Accusations that Uyghurs and other Muslim minority groups in the […]
Read moreGlobal food supply chain at risk due to pandemic
London (CNN Business)Food and supplies are flying off the shelves of UK supermarkets, but that doesn’t mean their profits are booming. Tesco (TSCDF), the biggest grocery chain in Britain, said Wednesday that additional costs associated with “feeding the nation” could amount to as much as £925 million ($1.1 billion) this […]
Read moreU.S. Stocks Close Mixed As Nasdaq Pulls Back Off Record High
After ending the previous session mostly higher, stocks turned in a mixed performance during trading on Tuesday. The S&P 500 reached its best closing level in five months, while the tech-heavy Nasdaq gave back ground after spiking to a record closing high on Monday. The major averages finished the day […]
Read more60,630 New Covid Cases, 1121 More Deaths In US
With 60,630 new cases reporting in the last 24 hours, the total number of coronavirus infections in the United States increased to 4294770. During the same period, 1121 people died of the viral disease, taking the country’s total deaths to 148056. COVID infections increased in D.C., Maryland and Virginia after […]
Read moreEU Leaders Agree On Landmark Coronavirus Recovery Package
EU leaders agreed on a EUR 1.8 trillion package of measures to tackle the exceptional nature of the economic and social situation posed by the coronavirus pandemic. After four days of marathon talks in Brussels, EU leaders conceded the package worth EUR 750 billion. Accordingly, the bloc will issue debt […]
Read moreRemington Outdoor Returns to Bankruptcy With Chapter 11 Filing
Remington Outdoor Co. filed for bankruptcy for the second time in two years with plans to sell the two-century-old maker of firearms. The company listed assets and liabilities of up to $500 million in a petition filed late Monday with the U.S. bankruptcy court in Alabama. The Chapter 11 filing […]
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