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February 27, 2020
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Reuters - Business

Delta cutting flights to South Korea; JetBlue waives U.S. change fees

Reuters
WASHINGTON (Reuters) – Delta Air Lines Inc (DAL.N) said on Wednesday it would temporarily cut flights to and from South Korea, citing global health concerns related to the coronavirus outbreak as U.S. airlines grapple with lagging travel demand. FILE PHOTO: Delta airlines logo is seen inside of the Commodore Arturo......
Reuters - Business

Profit rise lifts Peugeot shares ahead of Fiat merger

Reuters
PARIS (Reuters) – Peugeot maker PSA Group said on Wednesday profitability reached a record high in 2019, results that contrasted with those of many rivals and boosted the group’s shares as it beds down a merger with Italy’s Fiat Chrysler. The French firm, which also produces cars under the Citroen......
Reuters - Business

European Commission says too early to assess coronavirus impact on EU economy

Reuters
European Economic Commissioner Paolo Gentiloni attends a news conference on public finances in EU states at European Union Commission headquarters in Brussels, Belgium February 26, 2020. REUTERS/Francois Lenoir BRUSSELS (Reuters) – It is still too early to assess the impact of the coronavirus outbreak on the European Union economy, the......
CNBC Business

Egyptian billionaire Naguib Sawiris on coronavirus impact

CNBC
CNBC – For more and to sign up click here Egyptian billionaire Naguib Sawiris, executive chairman of Orascom Telecom. Simon Dawson | Bloomberg | Getty Images Disruptions caused by the coronavirus will cause the world’s economy to shrink if the outbreak continues, Egyptian billionaire Naguib Sawiris said this week. “If......
Reuters - Business

Profits jump at Peugeot maker PSA ahead of Fiat merger

Reuters
FILE PHOTO: A PSA Group logo is seen behind a car displayed during French carmaker’s news conference as they announce the company’s 2018 results at their headquarters in Rueil-Malmaison, near Paris, France, February 26, 2019. REUTERS/Christian Hartmann PARIS (Reuters) – Peugeot maker PSA Group said profitability reached fresh highs in......
CNBC Business

How Nerio Alessandri started Technogym, a $2.4 billion fitness empire

CNBC
CNBC – For more and to sign up click here Technogym founder Nerio Alessandri with actor Sylvester Stallone You may never have heard of Nerio Alessandri, but you may well have used the gym equipment he designed. Alessandri is the founder of Technogym, one of the most popular gym equipment......
Reuters - Business

U.S. airlines, hotels extend rebooking options as coronavirus spreads

Reuters
(Reuters) – U.S. airlines and hotels are extending options for customers to rebook travel to a growing list of countries, including Italy, as coronavirus cases spiked outside of China and sparked fears of a global pandemic. The United States told Americans on Tuesday to begin preparing for the coronavirus to......
Reuters - Business

Goldman, Citi among banks curbing Italy trips over coronavirus fears

Reuters
LONDON/MILAN (Reuters) – Goldman Sachs (GS.N), Citigroup Inc (C.N), Credit Suisse (CSGN.S) and other investment banks have curbed trips to Italy amid fears that the coronavirus outbreak across the north of the country could quickly spread across Europe, sources said. FILE PHOTO: A policeman wearing a face mask warns a......
CNBC Business

US coronavirus outbreak increasingly likely and could drag markets, Jefferies says

CNBC
CNBC – For more and to sign up click here Travelers wearing masks arrive on a direct flight from China, after a spokesman from the U.S. Centers for Disease Control and Prevention (CDC) said a traveller from China had been the first person in the United States to be diagnosed......
Reuters - Business

EU extends EssilorLuxottica, GrandVision antitrust investigation to July 6

Reuters
FILE PHOTO: Sunglasses from Ray Ban, a Luxottica owned brand, are on display at an optician shop in Hanau, Germany, March 18, 2016. REUTERS/Kai Pfaffenbach/File Photo BRUSSELS (Reuters) – EU antitrust regulators on Tuesday extended their investigation into Ray-Ban maker EssilorLuxottica’s (ESLX.PA) 7.2 billion-euro ($7.8 billion) bid for Dutch opticians......
Reuters - Business

Global stocks pause after coronavirus shakeout

Reuters
LONDON (Reuters) – Global stock markets stabilised on Tuesday after a wave of early selling petered out and Wall Street futures managed a solid bounce after the previous day’s sharp selloff on fears about the spreading coronavirus. FILE PHOTO: The London Stock Exchange Group offices are seen in the City......
Reuters - Business

United Airlines suspends 2020 guidance on coronavirus uncertainty

Reuters
FILE PHOTO: A United Airlines passenger jet taxis at Newark Liberty International Airport, New Jersey, U.S. December 6, 2019. REUTERS/Chris Helgren (Reuters) – United Airlines Inc (UAL.O) on Monday withdrew its full-year 2020 guidance, citing heightened uncertainty over how the duration and spread of the coronavirus to other regions could......
Reuters - Business

Stocks, oil tumble; gold spikes as virus fears grip markets

Reuters
NEW YORK (Reuters) – Stocks across the globe posted their largest decline in over two years on Monday and oil prices tumbled 5% as a jump in coronavirus cases outside of China sent investors scrambling to the security of gold and government bonds on fears of the impact to the......
Reuters - Business

France’s Sanofi to carve out active drug ingredients business

Reuters
PARIS (Reuters) – Sanofi (SASY.PA) plans to create a standalone company dedicated to making active pharmaceutical ingredients (API), components that are biologically active in a drug, and will decide whether to list it on Euronext Paris by 2022. FILE PHOTO: A Sanofi sign outside the French drugmaker’s Paris headquarters, October......
Reuters - Business

European shares suffer worst day since 2016 as virus spreads

Reuters
LONDON (Reuters) – Europe’s share markets suffered their biggest slump since mid- 2016 on Monday, as a jump in coronavirus cases in Italy, South Korea, Japan and Iran sent investors scrambling to the security of gold and government bonds. The German share price index DAX graph is pictured at the......
Reuters - Business

Italy’s UniCredit says Mustier to stay on as CEO

Reuters
FILE PHOTO: Unicredit bank CEO Jean Pierre Mustier poses during the shareholders meeting in Rome, Italy, January 12, 2017. REUTERS/Remo Casilli/File Photo MILAN (Reuters) – Italy’s biggest bank UniCredit (CRDI.MI) said on Monday Chief Executive Jean Pierre Mustier had confirmed he would remain in his role, following media reports that......
Reuters - Business

UniCredit CEO Mustier ruled out of HSBC role: source

Reuters
FILE PHOTO: A logo of UniCredit is seen in downtown Milan, August 18, 2014. REUTERS/Stefano Rellandini LONDON/MILAN (Reuters) – UniCredit Chief Executive Jean Pierre Mustier has ruled himself out of a switch to European rival HSBC (HSBA.L), a source with knowledge of the matter told Reuters on Sunday. Italy’s biggest......
Reuters - Business

U.S. Treasury’s Mnuchin: Tax certainty needed on global basis

Reuters
FILE PHOTO: U.S. Treasury Secretary Steven Mnuchin testifies before the Senate Finance Committee during a hearing on the President’s FY2021 Budget on Capitol Hill in Washington, U.S., February 12, 2020. REUTERS/Yuri Gripas/File Photo/File Photo RIYADH (Reuters) – U.S. Treasury Secretary Steven Mnuchin said on Saturday it was very important to......
Reuters - Business

UniCredit may make announcement later on Friday on CEO Mustier’s future: sources

Reuters
FILE PHOTO: Unicredit bank CEO Jean Pierre Mustier poses during the shareholders meeting in Rome, Italy, January 12, 2017. REUTERS/Remo Casilli/File Photo MILAN (Reuters) – Italy’s biggest bank UniCredit (CRDI.MI) may make an announcement as early as Friday night on the future of boss Jean Pierre Mustier, two sources familiar......
Reuters - Business

Qatar Airways not interested in investing in Air Italy

Reuters
FILE PHOTO: A Qatar Airways aircraft takes off at the aircraft builder’s headquarters of Airbus in Colomiers near Toulouse, France, September 27, 2019. REUTERS/Regis Duvignau MILAN (Reuters) – Qatar Airways said on Friday it was not interested in investing in struggling Italian carrier Air Italy, but would do all it......

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