Japan's Fast Retailing, owner of casual clothing chain Uniqlo, forecast a 44% plunge in annual operating profit that was steeper than what it had flagged earlier, hurt by the coronavirus outbreak in its key China market.
Fast Retailing, owner of casual clothing chain Uniqlo, slashed its annual outlook on Thursday, citing the impact of the coronavirus outbreak on China, a key growth market in recent years. Uniqlo shut around 170 stores in its home market this week.
The rapidly-spreading coronavirus outbreak is expected to push sub-Saharan Africa into recession in 2020 for the first time in 25 years, the World Bank said in a new forecast on Thursday.
The World Bank forecasts the sub-Saharan Africa region's economic growth for 2020 will contract because of the impact of the coronavirus outbreak, going into a recession for the first time in 25 years, it said on Thursday.
U.S. consumers, the primary market for Mexico's $3 billion avocado export business, will have uninterrupted access to the coveted crop as growers continue to work despite the coronavirus.
Starbucks Corp on Wednesday forecast a 47% drop in second-quarter earnings, scrapped its full-year forecast and warned that the financial hit from the coronavirus pandemic would extend into the final quarter of the fiscal year 2020.
Decade-low water levels in Argentina's Parana River, a key thoroughfare for grains shipments, are forcing exporters to load less merchandise on ships, adding a new problem to a sector already beset by bottlenecks due to the coronavirus pandemic.
Sudan on Wednesday raised the price of subsidised bread to 2 pounds per loaf from 1 pound in its capital Khartoum, while introducing a new smaller loaf for sale at the old price, in a bid to calm bakers complaining of steep losses.
Air Canada said on Wednesday it plans to adopt the government's wage subsidy for its 36,000 Canada-based workforce, in a bid to keep its employees on payroll as it wrestles with the economic fallout from the COVID-19 pandemic.
Brazilian corn exports slumped 51% by value in the first quarter, according to data compiled by farm lobby group CNA, reflecting strong demand for livestock feed in the domestic market and a sharp reduction in inventories.
U.S. airlines on Wednesday were still waiting for payroll aid they had hoped could arrive as soon as this week, as the number of passengers passing through U.S. airports dwindled even further.
Nordstrom Inc has temporarily shut down its corporate headquarters in Seattle due to the spread of the coronavirus in the area, the retailer said in a filing on Wednesday.
A drop in the water level of Argentina's Parana River has forced agro-export companies to load less merchandise on ships, the local ports chamber said on Wednesday, adding a new problem to a sector beset by bottlenecks due to the coronavirus outbreak.
Air Canada said on Wednesday it intends to adopt the government's wage subsidy for its 36,000 Canada-based workforce, in a bid to keep its employees on payroll as the carrier wrestles with the coronavirus fallout.
U.S. companies laying off workers in response to the coronavirus pandemic but still paying dividends and buying back shares are drawing criticism from labor unions, pension fund advisers, lawmakers and corporate governance experts.
EasyJet's founder Stelios Haji-Ioannou demanded on Wednesday a shareholder vote to remove two directors, as part of his battle to try to force the British airline to cancel an order for 107 Airbus planes.
Norwegian Air plans to convert up to $4.3 billion of its debt into equity and to issue new shares as it seeks to stay in business following the COVID-19 outbreak that has grounded almost all of its fleet, the budget carrier said on Wednesday.
Egypt will extend a nationwide night-time curfew by 15 days until April 23 to counter the spread of the coronavirus, Prime Minister Mostafa Madbouly said on Wednesday.
Reuters
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