By Uday Sampath Kumar and Richa Naidu (Reuters) -Nike Inc said on Friday that full-year revenue will likely be better than previously expected, after COVID-wary shoppers demanding outdoor sportswear drove its third consecutive surge in online sales. Shares in Beaverton, Oregon-based Nike (NYSE:NKE) were up about 5% in trading after the...
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By Moira Warburton TORONTO (Reuters) -Huawei Chief Financial Officer Meng Wanzhou's alleged actions had "no genuine connection" to the United States, her lawyers have argued in their latest bid to end her extradition from Canada, according to court documents released on Friday. Meng, 48, was arrested two years ago at the Vancouver airport by Canadian police on an arrest warrant from the...
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By Huw Jones LONDON (Reuters) - Britain's Financial Conduct Authority on Friday ordered Blue Gate Capital to pay investors 203,007 pounds for failings related to the 2012 collapse of the Connaught Income Fund, but it escaped a 10 million pound ($13.5 million) fine. The order comes a day after an independent report found "institutional failure" in the regulator's handling of the fund,...
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ZURICH (Reuters) - Austria expects to pay out an extra nearly 1 billion euros ($1.23 billion) in support for companies hit by a new lockdown that the government imposed to curb the spread of the coronavirus, Finance Minister Gernot Bluemel said on Saturday. Austria will go into its third lockdown after Christmas and lift it earlier for people who get tested, the...
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By Jesse Cohen Stocks fell on Friday, but Wall Street’s major averages still managed to score weekly gains amid renewed hopes for another fiscal stimulus package and ongoing optimism over Covid-19 vaccine progress. The Dow Jones Industrial Average declined 124 points, or 0.4%, to end the day at 30,179, while the S&P 500 shed 0.4% to close at 3,709....
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HOUSTON (Reuters) - Layoffs of hourly workers at Royal Dutch Shell (LON:RDSa) Plc’s shuttered Convent, Louisiana, refinery are scheduled to begin on the last day of February, said sources familiar with plant operations. The next round of layoffs is scheduled for March 31, the sources said. A Shell spokesman did not reply to a request for comment. About 350 hourly...
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By Christiana Sciaudone and Liz Moyer Investing.com -- As long as there are Kardashians and Kardashian wannabes, there will be room for luxury. And when we say luxury, we mean none less than retail, wine and hotelier giant LVMH, or LVMH Moet Hennessy Louis Vuitton SE (PA:LVMH). LVMH is poised to close its admittedly messy deal with Tiffany, which will only elevate it to an...
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By David French and Mike Spector NEW YORK (Reuters) - Private equity firm Blackstone (NYSE:BX) Group Inc is in talks to merge U.S. benefits services provider Alight Solutions LLC with a blank-check acquisition firm backed by veteran investor Bill Foley, according to people familiar with the matter. The merger with Foley Trasimene Acquisition Corp would result in Alight becoming a publicly-listed company...
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PARIS (Reuters) - The French government will extend through 2021 a lower threshold for screening non-EU investments in listed French companies that was put in place during the coronavirus crisis and was due to expire at year end, the Finance Ministry said on Friday. The government temporarily lowered in July the threshold above which investors from outside the European Union buying stakes...
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MOSCOW (Reuters) - OneWeb, the satellite firm rescued by the British government and India's Bharti Group, resumed flights on Friday in its push to provide global broadband coverage as 36 of its satellites blasted off into orbit from Russia's Far East. The launch carried out by Arianespace and its Starsem affiliate was...
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