Nasdaq News

The World Bank has approved a $750 million loan for Nigeria's power sector, the first release of funds after years of stalled talks over long-term reforms, it said.

Britain's accounting watchdog said on Wednesday it has started three investigations into audits of London Capital & Finance, the investment firm that collapsed in 2019 and left 11,600 investors facing losses of up to 237 million pounds ($297 million).

French IT consulting group Atos said on Wednesday it would target more acquisitions and expected to grow its revenue in the mid-term by between 5% and 7%.

Barrick Gold Corp will lay off most staff at its Porgera gold mine in Papua New Guinea, the mine's operator said on Wednesday, a signal that an impasse with the government over ownership is unlikely to be resolved swiftly.

British homebuilder Crest Nicholson on Wednesday posted a first-half pretax loss, citing political uncertainty and coronavirus disruptions, and said it expects annual adjusted pretax profit to fall around 60% to 70% for the full year.

Sweden's Evolution Gaming Group AB said on Wednesday it has offered to buy NetEnt AB for 19.6 billion Swedish crowns ($2.12 billion) in stock.

Dutch insurer NN Group said on Wednesday it expects an impact of about 100 million euros ($113.14 million) on its operating profit due to the fallout from the COVID-19 outbreak, but solvency remains strong at 227% as of the end of May.

Mr Kipling cakes maker Premier Foods Plc said on Wednesday it expected revenue and trading profit for the new year to exceed current estimates, encouraged by around 20% sales jump in the first-quarter on stockpiling during the coronavirus lockdown across the UK.

Former Team Sky rider Kanstantsin Siutsou has been banned for four years after he failed an anti-doping test in 2018, the International Cycling Union (UCI) said in a statement https://www.uci.org/inside-uci/press-releases/decision-of-the-uci-anti-doping-tribunal-regarding-kanstantsin-siutsou.

British house-builder Persimmon has poached Dean Finch from transport operator National Express to succeed David Jenkinson as chief executive.

(RTTNews) - Petrofac Limited (POFCF.PK, PFC.L), in its pre-close trading update, reported Wednesday that trading and awards for the first-half year-to-date period was materially impacted by COVID-19 and the sharp fall in oil and gas prices.

Top medics have warned British political parties that local flare-ups of the novel coronavirus are likely and a second wave is a real risk.

Japan's Olympus Corp said on Wednesday it had agreed to sell its loss-making camera business dating back 84 years to Japan Industrial Partners Inc.

Years of getting up in the dark, early, hours of the morning to watch Liverpool's English Premier League title hopes be dashed will end in the next week for thousands of fans in New Zealand according to the team's official supporters club branch.

Britain's accounting watchdog said on Wednesday it has started three investigations into audits of London Capital & Finance, the investment firm that collapsed in 2019 and left 11,600 investors facing losses of up to 237 million pounds ($297 million).

(RTTNews) - The Japanese stock market is rising on Wednesday following the overnight gains on Wall Street on upbeat economic data and optimism that the U.S.-China trade deal is intact. Nevertheless, investors remain cautious and the safe-haven yen strengthened due to the rising

There’s no relief on the horizon yet for the beleaguered cruise line industry. On June 19, the Cruise Lines International Association (CLIA) announced all cruise operations will remain suspended until September 15.

The announcement followed a disquieting quarterly report from struggling cruise line Carnival (CCL). In fiscal Q2, the world’s largest cruise operator lost $3.30 per share, more than double the Street’s $1.52 call. Revenue of $700 million also came in far below the $1.13 billion consensus estimate.

For Deutsche Bank analyst Chris Woronka, the results are “of little consequence.” Cruise lines saw no action for virtually the whole quarter, and have been busy making sure the books are in order to keep themselves afloat while chained to the harbor. The analyst tells clients he is more concerned with what happens next.

Carnival estimates that for the fiscal year’s second half (June- November), it will burn through $650 million a month. Woronka projects that with “complete suspension of operations and no further cost reductions,” the company has more than 11 months of runway.

However, Woronka believes Carnival will be back at the hole in the wall shortly for more cash.

The analyst said, “It's unclear if CCL's cash burn forecast assumes any incremental interest expense likely to result from the $2.4 billion of debt that it expects to refinance over the next 12 months. In the release, CCL notes that it ‘expects to further enhance future liquidity, including through refinancing scheduled debt maturities.’ In our opinion, it's more likely than not that CCL will raise capital beyond the level of near-term maturities.”

Looking ahead to the resumption of cruises and next year’s schedule, CCL said the booking levels for 2021 itineraries currently on offer are "within historical ranges" although prices are down “low to mid-single digits.”

Additionally, during the six weeks leading up to May 31, booking volumes for 2021 were "meaningfully behind" last year’s levels.

In any case, according to Woronka, the numbers are insignificant as long as the coronavirus rages on. “Net, the update doesn't change our view that there remain several key hurdles before broad-based sailings can resume and we think some sort of incremental, widely available medical breakthroughs for COVID are necessary for there to be widespread confidence among consumers,” he explained.

All in all, Woronka keeps a Hold rating on Carnival along with an $11 price target. This conveys the analyst’s belief shares could drop by 38% over the coming months. (To watch Woronka’s track record, click here)

Woronka’s take is backed by the rest of the Street. 3 Buys, 11 Holds and 4 Sells add up to a Hold consensus rating. The average price target, while more forgiving than Woronka’s, at $16.71, still indicates downside potential of 6%. (See Carnival stock-price forecast on TipRanks)

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Manufacturer of upholstered recliners and other furniture La-Z-Boy (NYSE: LZB) reported its fiscal 2020 fourth quarter and full year results today, revealing it has beaten analyst predictions on some metrics and come in lower than expected on others. During the fiscal year's fin

Oil futures edged lower on Wednesday, extending losses from the previous day, after U.S. crude stockpiles grew more than expected, adding to worries about oversupply, although a fall in gasoline stocks kept the decline in check.

Trust in China among Australians has more than halved amid diplomatic and trade disputes, with only 23% saying they trusted Beijing to act responsibly in the world compared to a 52% reading two years ago, a major poll has found.