Business

S&P, Nasdaq close at record highs on optimism about Biden stimulus plan

(Reuters) – The S&P 500 and Nasdaq closed at record highs on Thursday, propelled by optimism about more pandemic relief under the Biden administration to support the economy after data showed a tepid labor market recovery.FILE PHOTO: The New York Stock Exchange (NYSE) is seen in the financial district of New York, U.S., January 13, […]

Business

From ‘unloved’ to ‘favorite,’ Britain’s stock market rides a wave.

The start of 2021 has been rocky for Britain. Its exit from the European Union unleashed a colossal amount of red tape that has left some industries desperate for help, and the country is under yet another lockdown because of a fast-spreading strain of the coronavirus. But there has been a glimmer of hope. More […]

Business

COVID-19: Blame coronavirus not Brexit for fish export woes, says business secretary

Kwasi Kwarteng has dismissed border delays and the rising cost of transporting goods to Europe as “teething problems” rather than a consequence of Brexit. The new business secretary, who succeeded Alok Sharma last week, told MPs on the Commons business select committee he was confident that, despite concerns raised by businesses across numerous sectors, a […]

Business

COVID-19: Sunak urged to extend furlough scheme before budget

Chancellor Rishi Sunak has been urged by the CBI to extend the government’s furlough and business rates holiday schemes – and to act before March’s budget. The business group said firms needed to know whether financial lifelines that have helped them survive through the coronavirus crisis will be available as they plan for the months […]

Business

Logitech reports 192% jump in quarterly operating income

FILE PHOTO: Logitech keyboards are seen in the computer shop in Zenica, Bosnia and Herzegovina October 20, 2020. REUTERS/Dado Ruvic(Reuters) – Logitech International increased its non-GAAP operating income by 192% in the third quarter, the computer peripherals maker said on Tuesday, as the COVID-19 pandemic boosted demand for its home-working products and gaming accessories. Excluding […]

Business

For Coloradans getting by on federal unemployment benefits, the wait for them to restart is agonizing

It’s been a month since Yvette Quintana received an unemployment check. She doesn’t know when the next will come. Quintana sold a bed from the guest room in her mobile home in Adams County and few household odds and ends to “keep my head above water.” She’s worried about where she’ll find the money for […]

Business

Online Holiday Sales Skyrocket 50%

Salesforce’s latest holiday shopping report revealed a whopping 50 percent year-over-year gain in global online sales to $1.1 trillion, with digital sales swelling 58 percent in the five-day run-up to Christmas. Globally, the company expects online returns to reach $330 billion, which is about 30 percent of all purchases made during the shopping season. But […]

Business

Fast Retailing’s Q1 Net Slips 0.7%, Operating Profit Grows

TOKYO — Fast Retailing reported first-quarter net profit fell by 0.7 percent, while its sales dropped by 0.6 percent. By contrast, Q1 operating profit at Uniqlo’s parent grew by 23.3 percent. For the three months ended Nov. 30, 2020, the company’s net profit slipped by 0.7 percent to 70.3 billion yen ($677.26 million), which it […]

Business

NYC to terminate Trump contracts after Capitol insurrection

NEW YORK (AP) — New York City will terminate business contracts with President Donald Trump after last week’s insurrection at the U.S. Capitol, Mayor Bill de Blasio announced Wednesday. The Trump Organization is under city contract to operate the two ice rinks and a carousel in Central Park as well as a golf course in […]

Business

ASOS eyes £15m hit from Brexit costs after ‘strong’ Christmas

ASOS, the online fashion retailer, has reported a surge in sales over the Christmas season amid coronavirus disruption to the high street but warned it expects a financial hit from Brexit-related costs ahead. The company said the strength of its performance over the four months to 31 December meant it now expected that profits would […]