Stocks under pressure as Apple sounds warning on coronavirus

Stocks under pressure as Apple sounds warning on coronavirus
TOKYO (Reuters) – Asian shares fell and Wall Street was poised to retreat from record highs on Tuesday after Apple Inc (AAPL.O) said it would miss its March quarter revenue guidance as the coronavirus slowed production and weakened demand in China. FILE PHOTO: People wearing surgical masks walk past a screen showing Nikkei index outside a brokerage in Tokyo, Japan... Read More

France’s Accor partners with Visa under loyalty program

France’s Accor partners with Visa under loyalty program
FILE PHOTO: The logos of AccorHotels group is pictured during a news conference at the Pullman Bangkok King Power hotel, in Bangkok, Thailand, June 15, 2017. REUTERS/Athit Perawongmetha/File Photo PARIS (Reuters) – Accor (ACCP.PA), Europe’s largest hotel group, said on Tuesday it was joining forces with American card giant Visa (V.N) to offer a payment card to members of its... Read More

HSBC to shed assets worth $100 billion and slash 35,000 jobs over three years

HSBC to shed assets worth $100 billion and slash 35,000 jobs over three years
HONG KONG/LONDON (Reuters) – HSBC Holdings (HSBA.L) said on Tuesday it would shed $100 billion in assets, slashing the size of its investment bank and revamping its U.S. and European businesses – in a drastic overhaul that will mean 35,000 jobs cut over three years. FILE PHOTO: HSBC logos are seen on a branch bank in the financial district in... Read More

Nissan CEO tells angry shareholders he is ready to be sacked if no turnaround

Nissan CEO tells angry shareholders he is ready to be sacked if no turnaround
YOKOHAMA (Reuters) – Nissan’s (7201.T) new chief executive said on Tuesday he would accept being fired if he fails to turn around Japan’s second biggest automaker which is grappling with plunging sales in the aftermath of the scandal surrounding ex-chairman Carlos Ghosn. FILE PHOTO: Nissan Motor chief executive Makoto Uchida speaks during a news conference at Nissan Motor headquarters in... Read More

Boy Scouts of America files for bankruptcy amid challenges over lawsuits alleging abuse

Boy Scouts of America files for bankruptcy amid challenges over lawsuits alleging abuse
FILE PHOTO: The Boy Scouts of America signage is pictured at its headquarters in Irving, Texas, February 5, 2013. REUTERS/Tim Sharp/File Photo (Reuters) – The Boy Scouts of America, one of the largest youth organizations in the United States, has filed for Chapter 11 bankruptcy protection as it faces legal challenges defending itself against lawsuits alleging sexual abuse. The organization... Read More

Samsung poised to benefit from China virus woes afflicting Apple, other rivals

Samsung poised to benefit from China virus woes afflicting Apple, other rivals
SEOUL (Reuters) – Samsung Electronics stands to be a major beneficiary of the China production problems announced by rival Apple Inc on Monday, reaping the rewards of a decade-long bet on low-cost smartphone manufacturing in Vietnam. FILE PHOTO: Attendees look at a Samsung Galaxy S20 Ultra 5G smartphone during Samsung Galaxy Unpacked 2020 in San Francisco, California, U.S. February 11,... Read More

Nissan’s new CEO says willing to be fired if no turnaround

Nissan’s new CEO says willing to be fired if no turnaround
YOKOHAMA (Reuters) – Nissan’s (7201.T) new chief executive said on Tuesday he would accept being fired if he fails to turn around Japan’s second biggest automaker which is grappling with plunging sales in the aftermath of the scandal surrounding ex-chairman Carlos Ghosn. FILE PHOTO: Nissan Motor chief executive Makoto Uchida speaks during a news conference at Nissan Motor headquarters in... Read More

HSBC sets new cost cutting, profit targets after 2019 profit falls 33%

HSBC sets new cost cutting, profit targets after 2019 profit falls 33%
FILE PHOTO: The HSBC headquarters is seen in the Canary Wharf financial district in east London, Britain February 15, 2016. REUTERS/Hannah McKay/File Photo HONG KONG/LONDON (Reuters) – HSBC Holdings PLC (HSBA.L) on Tuesday unveiled plans to cut costs and simplify its structure to boost earnings, after its 2019 profit dropped 33% hit by one-time write-offs linked to its investment banking... Read More

Apple warns sales to fall short of target due to coronavirus impact

Apple warns sales to fall short of target due to coronavirus impact
(Reuters) – Apple Inc (AAPL.O) warned on Monday it was unlikely to meet its March quarter sales guidance set just three weeks ago as the world’s most valuable technology firm became one of the biggest corporate casualties of China’s coronavirus epidemic. FILE PHOTO: The Apple Inc. logo is seen hanging at the entrance to the Apple store on 5th Avenue... Read More