Category: Business

Crude oil in storage at major land and sea hubs rose last week, analysts and ship trackers said, as a build-up in China and the U.S. Gulf Coast reflected oil markets’ bumpy road to recovery. Refinery outages following a major storm in Texas and reduced oil intake by China during seasonal refinery maintenance were the […]

U.S. timeshare operator Hilton Grand Vacations Inc said on Wednesday it would buy Diamond Resorts International Inc for about $1.4 billion, as the hospitality industry readies for a recovery from the COVID-19 pandemic blow. Bookings have bounced back from April 2020 lows on a relative easing of lockdowns, while a wider rollout of COVID-19 vaccines […]

Some of the world’s biggest investors are slashing exposure to government bonds on expectations that the debt sell-off is just getting started, and without too swift a rise in borrowing costs, most central banks will not intervene. U.S. and European bonds have suffered their worst start to the year since 2013, with investors dumping government […]

Balkan telecoms and media company United Group is considering switching parts or all of the Huawei equipment that dominates its infrastructure to alternative providers, as it seeks to align itself with the United States government. European governments have tightened controls on Chinese-built 5G networks following pressure from Washington, which alleges Beijing could use Huawei equipment […]

Shares of Roblox Corp were set for a jump of up to 44% in their market debut on Wednesday. At 10:04 a.m., the U.S. gaming company’s stock was indicated to open at a range between $60 and $65, up from the reference price of $45 per share.

Campbell Soup Co said on Wednesday it expects current-quarter sales to be pressured due to supply chain disruptions caused by a major winter storm and deep freeze that engulfed several U.S. states. The soups and snacks maker, which benefited from rising demand for its ready-to-eat or quick-fix meals during the pandemic, said its plant in […]

German sportswear company Adidas aims to double its e-commerce sales by 2025 and make its products more sustainable as part of a five-year plan to lift profitability closer to that of rival Nike. Adidas is targeting online sales of up to 9 billion euros ($10.7 billion) a year by 2025 with an operating profit margin […]