InterContinental Group, the owner of Crowne Plaza and Holiday Inn hotels, said that unrest in Hong Kong had driven down revenues there by almost two-thirds at the end of last year, as protests in the streets and at the airport hampered travel.
HSBC said it plans to shed around 35,000 jobs as part of a radical downsizing of its operations in Europe and the US, as it warned of the threat to its business from social unrest in Hong Kong and the coronavirus outbreak.
Intesa Sanpaolo, Italy’s biggest domestic lender, has launched a €4.86bn ($5.26bn) takeover bid for its rival UBI Banca in an audacious attempt to kick-start consolidation in Italy's fragmented banking sector.
The new chief executive of BHP said he wanted to expand in the commodities that would be needed in the shift to a low-carbon economy and was prepared to sell its thermal coal assets at the right price.
French high-speed rail maker Alstom has agreed to buy Canadian Bombardier’s train unit in a deal worth close to €7.5bn, as it looks to bulk up in the face of rising Chinese competition and growing demand in Europe.
Jupiter Fund Management’s chief executive Andrew Formica has launched a defence of stock picking even after the fund management group agreed to buy a rival that has lost a third of its value in the past two years.
Despite a holiday-shortened week in the US, investors have a busy calendar ahead with remarks from Federal Reserve policymakers, the release of Fed minutes, elections in Iran and negotiations over the European Union’s budget.
US consumers kicked off 2020 in a steady fashion, with headline retail sales rising slightly, although underlying measures of discretionary spending stalled and growth in previous months was revised lower.
Volkswagen has attempted to circumvent Germany’s largest collective lawsuit by offering more than 400,000 customers direct compensation for vehicles that were installed with diesel emissions cheat devices ahead of a critical court date in May.
Khalifa al-Muhairi, one of NMC’s controlling shareholders, has resigned from the board of the healthcare group after a turbulent few months in which the company’s finances and ownership structure have been questioned.