Business

China’s JD.com cashes in on steady online demand, beats market expectations

While China has largely emerged from coronavirus lockdowns with most businesses resuming production, JD.com’s domestic consumers continue to shop online for everything from daily groceries to luxury products. The Beijing-based company posted revenue of 745.8 billion yuan ($114.97 billion) for the year, beating analysts’ estimate of 740.81 billion yuan. In a pandemic-struck year, during which […]

Business

Europe’s dividend outlook lags, U.S. payouts head back to record

Investors are piling into Europe’s energy-and-financials-heavy stock markets, yet dividend expectations remain far gloomier than in the United States, with payouts seen well below pre-pandemic levels for years to come. European markets are benefiting from investors rotating into “reflation” oriented sectors and cheaply-priced “value” plays, many of which are good at returning cash to shareholders. […]

Business

Blackstone seeks $4 billion for Tactical Opportunities fund

Blackstone Group Inc, the world’s largest manager of alternative assets such as private equity and real estate, is seeking to raise $4 billion for a fund to invest in various asset classes, according to people familiar with the matter. It is the fourth such fund to be raised by the New York-based firm. Dubbed Blackstone […]

Business

U.S. job openings rise in January, layoffs decrease

U.S. job openings increased in January and layoffs fell, offering more evidence the labor market was regaining its footing after wobbling late in 2020. Job openings, a measure of labor demand, rose to 6.9 million on the last day of January from 6.8 million in December, the Labor Department said in its monthly Job Openings […]

Business

Vodafone, Fastweb seek 1.1 billion euros in damages from Tim over alleged market abuse

Vodafone and Fastweb have asked Telecom Italia (TIM) for a total of 1.1 billion euros ($1.31 billion) in damages after a ruling by Italy’s competition watchdog over alleged abuse of dominant market position, a document showed. In March last year the regulator fined TIM 116 million euros for abusing its position in the broadband market […]

Business

Rolls shores up position on Airbus A350, delaying GE showdown

Rolls-Royce said on Thursday it had extended an exclusive deal to provide engines for the Airbus A350-900 to 2030, cementing its alliance with the European plane maker and deferring a potential challenge from rival General Electric. Rolls already had a formal exclusive agreement to provide Trent XWB-family engines on the larger A350-1000 wide-body jet, and […]

Business

Rolls-Royce says can weather crisis despite record loss

The British company said its cash burn should halve this year, and turn positive in the second half as vaccinations kick in and travellers return to the skies. “The worst is now well behind us,” CEO Warren East said. But even if that proves optimistic, Rolls is well placed to cope with more turmoil after […]