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15 January
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SAP forecasts flat 2021 revenue after fourth-quarter recovery By Reuters

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By Douglas Busvine BERLIN (Reuters) - Business software group SAP forecast flat revenue and a decline in operating profit in 2021, as it released preliminary annual results that came at the high end of guidance slashed last autumn. Walldorf-based SAP said it expected adjusted revenue, at constant currency, to be flat to up 2% this year, while adjusted operating profit was seen...

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15 January
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Amazon faces class-action lawsuit over eBook pricing By Reuters

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(Reuters) - Amazon.com Inc (NASDAQ:AMZN) was slapped with a class-action lawsuit on Thursday accusing the e-commerce giant of inflating the prices of ebooks in collusion with some publishers. The lawsuit alleges that Amazon and the five largest U.S. publishers, collectively called the 'Big Five', agreed to price restraints that cause consumers to overpay for eBooks purchased from them through a retail platform...

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15 January
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Here Are the Major Parts of $1.9 Trillion Biden Relief Plan By Bloomberg

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(Bloomberg) -- President-elect Joe Biden’s $1.9 trillion Covid-19 relief plan is designed to both pump money into the economy and contain the coronavirus pandemic. The plan includes a wave of new spending, including more direct payments to households, an expansion of jobless benefits, more money for state and local governments and an expansion of vaccinations and virus-testing programs. The proposal also calls for...

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15 January
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Analysis: Biden’s $1.9 trillion rescue package offers bridge for hard-hit economy By Reuters

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By Ann Saphir (Reuters) - U.S. President-elect Joe Biden's proposal to pour $1.9 trillion into a hobbled economy could lay the foundation for a surge in jobs and spending that many economists say is needed to avoid long-term damage from a record-breaking pandemic recession. Analysts had already begun marking up their forecasts for economic growth this year after last week's elections in...

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15 January
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Asia shares inch up as U.S. stimulus hopes boost sentiment By Reuters

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NEW YORK (Reuters) - Asian shares rose on Friday, brushing off a late Wall Street dip as expectations of large U.S. stimulus under President-elect Joe Biden shored up sentiment while oil prices perked up on upbeat Chinese trade figures. President-elect Biden will unveil a $1.9 trillion stimulus package proposal designed to jump-start the economy and speed up the U.S. response to the...

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15 January
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Car insurance premiums in Britain fall 6% in fourth-quarter – survey By Reuters

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(Reuters) - The cost of a comprehensive motor insurance policy in Britain fell for a fourth straight quarter, with the latest quarter recording a 6% decline, pushed down by coronavirus-led lockdown measures and subsequent claims, a survey showed on Friday. The average premium for a comprehensive policy is now 763 pounds ($1,041.34), according to the latest index from price comparison site Confused.com,...

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15 January
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Former senior Petrofac executive pleads guilty to three further bribery offences – Britain’s SFO By Reuters

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(Reuters) - Former senior Petrofac (LON:PFC) Ltd executive David Lufkin pleaded guilty at Westminster Magistrates' Court on Thursday to three further bribery offences in relation to oil deals in United Arab Emirates (UAE), Britain's Serious Fraud Office (SFO) said in a statement. These charges are in addition to 11 charges of bribery already brought by the SFO, to which Lufkin pleaded...

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15 January
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Daimler to cut production over chip shortage -Handelsblatt By Reuters

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BERLIN (Reuters) - Daimler will cut production and reduce working hours at a second factory, the latest automaker to suffer from a global shortage of semiconductors, the Handelsblatt daily reported on Thursday, citing unnamed company sources. Automakers and electronics makers are facing a shortage of chips as consumer demand bounces back from a slump caused by the coronavirus pandemic that led to...

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15 January
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Bank Earnings, Retail Sales, Manufacturing: 3 Things to Watch By Investing.com

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By Christiana Sciaudone Investing.com -- Markets closed a tad lower on Thursday amid stimulus (again!) optimism. This evening, President-elect Joe Biden is set to unveil a more than $1 trillion package to boost the economy. The fiscal spending package will likely include proposals to boost direct payments to Americans, state and local aid, and funding for the distribution of vaccines. Investor focus will...

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