World News

HSBC to push on with overhaul ‘wherever possible’ despite crisis

By Lawrence White LONDON (Reuters) – HSBC will press ahead with plans to shift capital from underperforming businesses, cut costs and strip out layers of management, despite problems caused by the coronavirus pandemic. Chief Executive Noel Quinn said HSBC <HSBA.L> would proceed “wherever possible” with a transformation plan outlined in February, but had paused most […]

World News

Coronavirus stockpiling drives best Nestle sales growth in years

By Siddharth Cavale (Reuters) – Swiss food giant Nestle <NESN.S> reported its best quarterly sales growth in nearly five years on Friday as consumers stockpiled everything from Purina pet food to Nescafe coffee to frozen meals to prepare for coronavirus lockdowns. Sales in North America and Europe were particularly strong in March, helping to drive […]

World News

Truce over: U.S. Congress heads to partisan battle on coronavirus aid for states

By Richard Cowan WASHINGTON (Reuters) – After passing $3 trillion of coronavirus relief in a rare seven-week run of bipartisanship, the U.S. Congress is headed back to its normal state of conflict, with leading Republicans lining up against aid for cities and states that Democrats say is essential. Spurred on by governors and local officials, […]