Category: Business

The U.S. economic recession underway, caused by the coronavirus pandemic, will be worse than previously thought, with more economists polled over the past week expecting a “U-shaped” recovery rather than any other option. The novel coronavirus has infected nearly 2.5 million people around the world, killed nearly 170,000 and led to lockdowns in many countries, […]

It took Lucio and Meera Santoro 35 years to build up their London design company and just a week to watch it fall apart. Production has stopped, staff have been suspended and support from the government’s more than half a trillion-dollar economic rescue package is slow to come through. The plight of the brand and […]

Starbucks Corp (SBUX.O) said on Monday it would roll out a plant-based food and beverage menu in China this week, launching Beyond Meat Inc (BYND.O) and Oatly products in a country which is trying to recover from coronavirus shutdowns. The world’s biggest coffee chain has reopened most of its stores in China, where the outbreak […]

SoftBank Group’s (9984.T) planned $22.5 billion share buyback presents an attractive buying opportunity but it is not a clear longterm investment, said a London-based investor that has built up a small stake. Asset Value Investors (AVI) has spent around $75 million buying SoftBank shares, drawn by the size of the buyback and a nearly $3 […]

Britain’s government made a firm decision to allow China’s Huawei to have a role in building the country’s 5G phone network and as far as the foreign ministry’s top official understands it is not being reopened, he said on Tuesday. Britain decided in January to allow Huawei into what the government said were non-sensitive parts […]

Chinese electric vehicle maker BYD Co Ltd (002594.SZ), (1211.HK) reported on Tuesday a 42% drop in 2019 profit, saying cuts in government subsidies and emissions rules changes had hit demand in the sector. BYD, which is backed by U.S. investor Warren Buffett, said its net profit for 2019 totalled 1.61 billion yuan ($227 million), while […]

Global business leaders are preparing for a drawn-out U-shaped recession due to the impact of coronavirus and many fear their companies won’t survive the pandemic, a survey of thousands of chief executives showed on Wednesday. The pandemic sweeping the world has killed nearly 180,000 people, routed financial markets and could trigger the worst economic meltdown […]