05 January

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European Stocks Mixed; German Retail Sales Impress as Covid Cases Rise

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By Peter Nurse Investing.com - European stock markets traded in a mixed fashion Tuesday, as investors weighed up better than expected German retail sales data with new Covid-inspired lockdowns and U.S. political uncertainty. At 3:55 AM ET (0855 GMT), the DAX in Germany traded 0.1% lower, the CAC 40 in France fell 0.1%, while the U.K.'s FTSE index climbed 0.4%. German retail sales...

05 January

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China’s Alibaba to shut down Xiami music app next month

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BEIJING/SHANGHAI (Reuters) - Alibaba (NYSE:BABA) Group will close its music streaming platform Xiami Music next month, in a move that marks a step back from its ambitions to push into China's entertainment industry. "Due to operational adjustments, we will stop the service of Xiami Music," the online music arm of the Chinese e-commerce giant said on Tuesday on its Weibo...

05 January

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UK retailer Next reports 1.1% drop in Christmas sales

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LONDON (Reuters) - British fashion retailer Next said its sales in the nine weeks to 26 December were much better than it had expected, although an additional property provision of 40 million pounds resulted in it nudging down its pretax profit forecast. The company said full-price sales in the Christmas trading period were down -1.1% on last year, beating its central guidance...

05 January

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Morrisons’ sales rise 8.1% in latest trading period

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LONDON (Reuters) - Morrisons, Britain's fourth largest supermarket group, reported a rise in underlying sales in its latest trading period encompassing Christmas, benefiting from out of home eating and drinking being restricted by strict COVID-19 regulations. The group said on Tuesday that group like-for-like sales, excluding fuel, rose 8.1% in the 22 weeks to Jan. 3 - a period that spans Morrisons...

05 January

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FTSE Russell Removes Three More Chinese Firms After Trump Order

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(Bloomberg) -- FTSE Russell is set to pull another three Chinese firms from its indexes to comply with a U.S. order sanctioning companies with military ties following the removal of eight stocks last month. The companies are Semiconductor Manufacturing International Corp., China United Network Communications Ltd. and Nanjing Panda Electronics Co., according to a...

05 January

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How shoe tycoon Steve Madden got back on his feet

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By Cheryl Lu-Lien Tan NEW YORK (Reuters) - Steve Madden, founder and design chief of a multibillion-dollar eponymous shoe brand, knows something about being sanguine in a tough situation. In 2002, Madden was convicted of stock manipulation, money laundering and securities fraud. He was sentenced to 41 months in prison. Madden had to resign as CEO of Steven Madden Ltd ,...

05 January

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Germany’s Bafin exempts Russia’s Mordashov from launching full TUI takeover

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FRANKFURT (Reuters) - Travel group TUI (LON:TUIT) on Monday said German regulator BaFin has exempted a consortium backed by Russian billionaire Alexey Mordashov from making a compulsory takeover offer for the company, easing the path for a bailout of the travel operator. In early December TUI secured a multibillion-euro bailout with the German government, private investors and banks after the COVID-19...

05 January

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Google workers form small union, eyeing more protests over working conditions

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By Paresh Dave OAKLAND, Calif. (Reuters) - More than 200 workers at Google and other Alphabet (NASDAQ:GOOGL) Inc units on Monday formed a labor union for U.S. and Canadian offices, building on years of protests over working conditions and business practices but falling far short of the support needed to force the tech giant to the bargaining table. Backers believe the...

05 January

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Commerzbank to update strategy in first quarter – CEO to staff

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FRANKFURT (Reuters) - Commerzbank (DE:CBKG) will present a strategy update for the struggling German lender in the first quarter, the company's new chief executive said in a memo to staff on Monday. "Commerzbank needs to undergo a fundamental transformation," Manfred Knof wrote in the memo, which was seen by Reuters. The bank has been struggling to generate profits and has announced it...

05 January

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C3.ai Draws Mixed Reviews One Month Post-IPO

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By Christiana Sciaudone Investing.com -- C3 Ai Inc (NYSE:AI) dropped 10% on Monday after analyst ratings on the newly public company came in mixed. Wedbush to Piper Sandler (NYSE:PIPR) give it a buy, Deutsche Bank (DE:DBKGn) and Keybanc see a hold, while Morgan Stanley (NYSE:MS) says sell, StreetInsider reported. The AI...

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News

European Stocks Mixed; German Retail Sales Impress as Covid Cases Rise

China’s Alibaba to shut down Xiami music app next month

UK retailer Next reports 1.1% drop in Christmas sales

Morrisons’ sales rise 8.1% in latest trading period

FTSE Russell Removes Three More Chinese Firms After Trump Order

How shoe tycoon Steve Madden got back on his feet

Germany’s Bafin exempts Russia’s Mordashov from launching full TUI takeover

Google workers form small union, eyeing more protests over working conditions

Commerzbank to update strategy in first quarter – CEO to staff

C3.ai Draws Mixed Reviews One Month Post-IPO

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