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French court upholds ruling that limits Amazon deliveries during coronavirus crisis

A French court rejected US online retailer Amazon's appeal against a ruling that limits what it can deliver during the coronavirus crisis.

Markets

AmEx quarterly profit plunges 76% on US$1.7 billion reserve build

Credit card issuer American Express Co posted a 76 per cent drop in quarterly profit on Friday (Apr 24), as it set aside US$1.7 billion to brace itself against potential non-payments due to a wave of coronavirus-led layoffs.

Markets

HSBC to push on with overhaul ‘wherever possible’ despite COVID-19 crisis

LONDON: HSBC will press ahead with plans to reallocate capital from underperforming businesses, cut costs and strip out layers of management, despite problems caused by the coronavirus pandemic. Chief Executive Noel Quinn said HSBC will proceed "wherever possible" with a transformation plan ...

Markets

Nestle posts better than expected first-quarter sales as customers stockpile food amid COVID-19 outbreak

Nestle reported a 4.3per cent rise in organic sales growth for the first quarter, the food giant said on Friday, as consumers filled cupboards with Purina pet food and Poland Spring water to prepare for lockdowns caused by the coronavirus pandemic.

Markets

Mitsubishi Motors expects US$240 million in yearly losses

Japan's Mitsubishi Motors expects an annual net loss of US$240 million because of the impact of the coronavirus pandemic on sales, the automaker said Friday.

Markets

Norway approves new law that could help rescue Norwegian Air

Norway's parliament voted through a new company restructuring law on Friday that could help save Norwegian Air and many other companies from potential bankruptcy as a result of the restrictions to stem the spread of COVID-19.

Markets

Indecisive EU to force ECB into more emergency action

After another disappointing EU summit, the European Central Bank finds itself in a familiar position as the leading saviour of the euro, once again being called upon to push out its boundaries while politicians bicker.

Markets

Verizon pulls 2020 revenue view as lockdowns result in wireless subscriber loss

Verizon Communications Inc lost 68,000 phone subscribers who pay a monthly bill in the first quarter, as people stayed indoors due to lockdowns to halt the spread of the coronavirus.

Markets

Verizon loses 68,000 wireless subscribers as coronavirus takes toll

Verizon Communications Inc lost 68,000 phone subscribers who pay a monthly bill in the first quarter, as people stayed indoors due to lockdowns to halt the spread of the coronavirus.

Markets

Facebook’s big India deal portends a bruising time for SoftBank-backed Paytm

Facebook's US$5.7 billion investment in Reliance promises to be the biggest headache yet for Paytm, a SoftBank-backed pioneer in India's digital payments market but which has been losing ground to rivals with deeper pockets.

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