(Reuters) – Coca-Cola Co (KO.N) reported a 28.5% drop in quarterly revenue on Tuesday as sales of its trademark sodas were battered by the closure of restaurants, theaters, and sporting venues due to the COVID-19 pandemic. The Atlanta-based company reported net revenue of $7.15 billion for the second quarter ended June 26. Net income attributable […]

TOKYO/HONG KONG (Reuters) – Asian shares hit a five-month high and European equity market futures extended gains on Tuesday after European Union leaders agreed on a massive stimulus plan for their coronavirus-blighted economies. Hopes that vaccines against the COVID-19 disease might be ready by the end of year also supported riskier assets, following promising early […]

SINGAPORE (BLOOMBERG) – One of Australia & New Zealand Banking Group’s most senior traders is suing the lender for defamation over its criticism of one of his social media posts. In early March, Bogac Ozdemir, a Singapore-based global head of credit at the bank, wrote a post on LinkedIn that blamed China for the coronavirus […]

The Accounting and Corporate Regulatory Authority (Acra) is seeking public feedback on proposed amendments to the Companies Act. The Companies Act Working Group (CAWG), set up by Acra in 2018 to review several areas of the Act, has reviewed 56 issues and recommended 36 legislative reforms. These cover facilitating digitalisation, types of companies and financial […]

Hermes is creating more than 10,000 jobs through a £100m investment to bolster its UK delivery capacity as the coronavirus crisis drives up demand for online shopping. The courier firm said 1,500 full-time positions were available – including head office, warehouse and delivery roles. It is seeking 9,000 further self-employed couriers across the UK. Hermes […]

ZURICH (Reuters) – SoftBank (9984.T) has pulled a more than $500 million investment from Credit Suisse’s (CSGN.S) supply chain finance funds after the Swiss bank reviewed the funds including the Japanese conglomerate’s role, according to two sources. The Swiss bank launched the review after the Financial Times reported last month that SoftBank had put $500 […]

(Reuters) – The S&P 500 edged higher on Monday as promising data across a range of COVID-19 vaccine candidates and hopes of more stimulus helped overcome fears around the extent of the economic damage from a surge in domestic infections. U.S. drugmaker Pfizer (PFE.N) and German biotech firm BioNTech (BNTX.O) reported additional data from their […]

LONDON (Reuters) – Hedge fund position-taking in crude and products remains desultory as uncertainty about the future direction of prices and the course of the coronavirus pandemic compounds the normal summer-time trading slowdown. Hedge funds and other money managers purchased the equivalent of 24 million barrels of futures and options in the six most important […]

NEW YORK (Reuters) – Big banks are making a lot less money from their deposits than they did before the coronavirus pandemic. Net interest income, the difference between what banks pay for money and what they receive lending it out, fell by $5 billion, or 10%, at the four biggest U.S. banks in the second […]

(Reuters) – Wall Street’s main indexes gave up early gains to trade lower on Friday, as fears over business disruptions due to another record-breaking rise in COVID-19 cases at home overtook optimism over a further stimulus for a post-pandemic economic revival. Netflix’s shares fell 7.2% after it forecast slower-than-expected subscriber growth during the third quarter […]