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June 18, 2020

Chanel warns virus impact will linger on luxury sector

The luxury industry will feel the fallout from the coronavirus crisis for the next two years if not longer, Chanel’s chief financial officer said on Thursday, […]
June 18, 2020

IMF says deeper-than-expected contraction in U.S. economy likely in second quarter

A defacto lockdown in the United States has lasted longer than expected despite a rollback in some restrictions on mobility, pointing to a deeper-than-expected contraction in […]
June 18, 2020

Prudential sells Jackson equity stake to Apollo-backed Athene for $500 million

Prudential sold a minority stake in its U.S. business, Jackson, to Apollo Global-backed Athene Holding for $500 million, the insurer said on Thursday, in the first […]
June 18, 2020

S&P 500, Dow dip on rising virus cases, elevated jobless claims

The S&P 500 and Dow retreated on Thursday as an uptick in coronavirus infections in parts of the United States threatened to upend bets of a […]
June 18, 2020

Oil prices broadly stable after mixed U.S. data

Oil prices were broadly stable on Thursday after dipping in and out of positive territory as bulls took their cue from shrinking U.S. oil product stocks […]
June 18, 2020

U.S. labor market recovery stalling; second wave of layoffs underway

The number of Americans filing for unemployment benefits fell last week, but the pace of decline appears to have stalled amid a second wave of layoffs […]
June 18, 2020

Vans, not glamorous, but key as EU weighs autos mega-merger

Their silhouettes don’t stir dreams of adventure like a sports car or trendy SUV, but vans are a rare source of profit for European carmakers, which […]
June 18, 2020

Colgate reviewing Chinese toothpaste brand Darlie amid debate on racial inequality

Colgate-Palmolive on Thursday said it was working to review and evolve its Chinese toothpaste brand, Darlie, the latest in a string of brand reassessments amid a […]
June 18, 2020

Wirecard scrambles to find missing $2.1 billion as loan crunch looms

Wirecard’s auditor has refused to sign off its 2019 accounts over a missing $2.1 billion, sending its shares down more than 60% as the German payments […]
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