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Disney's parks were its biggest profit-maker, now they could be its biggest drag on earnings

Last year, Disney's Parks, Experiences and Consumer Products segment was its fastest-growing profit driver. Now, it could be the company's biggest drag on earnings, thanks to the Covid-19 outbreak.




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Wayfair shares rocket higher as coronavirus-related store closures shift more demand its way

Online furniture retailer Wayfair's net loss widened during the first quarter, as its sales surged nearly 20% from a year ago.




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Cheesecake Factory swings to a loss as coronavirus weighs on earnings

The Cheesecake Factory swung to a loss in its first quarter as the coronavirus pandemic forced the company to close its dining rooms and furlough thousands of its workers.




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Beyond Meat shares rise as first-quarter revenue soars 141%, but it withdraws 2020 forecast due to coronavirus

Citing uncertainty due to the coronavirus pandemic that's shuttered much of the dine-in restaurant industry around the world, the company suspended its full-year forecast.




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Disney reports 58% drop in operating income from parks and cruises, its worst-hit segment

This is the first earnings report with Bob Chapek at the helm of Disney, after former CEO Bob Iger transitioned to executive chairman.




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Wendy's shares jump after company reports US same-store sales picking up as customers return

Wendy's reported that its U.S. same-store sales are rebounding after plunging in March and the first half of April.




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General Motors ekes out $294 million profit in the first quarter despite crippling production and sales from coronavirus

The Covid-19 outbreak cut deeply into GM's performance, costing the largest U.S. automaker $1.4 billion before taxes during the first three months.




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New York Times expects ad revenue to plummet 50% in Q2, but broke its record for net new subscriptions in a quarter

The New York Times Company said it expects advertising revenue to fall between 50-55% year-over-year in the second quarter as impacts of the pandemic are hitting demand for advertisers. But the media company, which gets two-thirds of its revenue from subscriptions, said it added more than half a million net new digital subscriptions.




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Papa John's CEO says April was the best month in company's history

"We feel very confident that we have the infrastructure in place to deliver long-term, sustainable growth," Papa John's CEO Rob Lynch told CNBC.




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Lyft shares jump 15% as company reports more riders than last year despite coronavirus

Lyft reports its first-quarter results on Wednesday after the bell.




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Peloton sales surge 66%, as more people buy bikes during coronavirus pandemic; shares jump

Peloton's revenue surged 66% during the fiscal third quarter, as more people purchased its fitness equipment and tuned into its live classes, to try to break a sweat while stuck at home during the coronavirus pandemic.




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ECB ruling: German court can only check core of domestic constitution, analyst says

Volker Wieland, endowed chair of monetary economics at the Institute for Monetary and Financial Stability, discusses the impending verdict on whether the ECB's public sector purchase program is legal under German law.




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No exact playbook on how to reopen economies, doctor says

Peter Drobac, director of the University of Oxford's Skoll Centre for Social Entrepreneurship, discusses Europe's handling of the coronavirus crisis.




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Valuations only part of the picture in coronavirus crisis, strategist says

John Bilton, global head of multi-asset strategy at J.P. Morgan Asset Management, discusses the impact of the Covid-19 pandemic on stock valuations.




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E-commerce saw triple-digit growth in April, Pandora CEO says

Alexander Lacik, CEO and president of Pandora, discusses the Danish jeweler's earnings.




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Today's market composition doesn't reflect who is leading the rally, fund manager says

Guy de Blonay, fund manager for global equities at Jupiter Asset Management, discusses investing amid the coronavirus crisis.




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Second quarter will be 'worst point in time' for European autos, analyst says

Jurgen Pieper, senior advisor for automobiles at Metzler, discusses the impact of the coronavirus pandemic on the autos sector.




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Protecting health and safety of citizens must come first, Spanish minister says

Spanish Minister of Foreign Affairs, the European Union and Cooperation Arancha Gonzalez discusses Spain's current state of emergency.




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Europe has scope to strengthen relationship with China, Spanish minister says

Spanish Minister of Foreign Affairs, the European Union and Cooperation Arancha Gonzalez discusses the coronavirus crisis.




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Working to ensure we emerge stronger from coronavirus crisis, Solvay CEO says

Ilham Kadri, CEO of Solvay, discusses the chemicals company's first-quarter earnings.




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Croatia brings new coronavirus infections down to single digits

Croatian Prime Minister Andrej Plenkovic discusses the EU's response to the Covid-19 pandemic and how the country has handled the crisis.




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Economic scars will remain for EU after coronavirus, official says

EU Economic Commissioner Paolo Gentiloni discusses the economic impact of the coronavirus pandemic across the euro zone.




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Coronavirus an 'unbelievable' challenge for hospitality sector, IHG CEO says

Keith Barr, CEO of InterContinental Hotels Group, discusses the impact of the coronavirus pandemic on the company.




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Equinor has reduced 2020 costs by $3 billion and is prepared to do more, CEO says

Eldar Sætre, CEO of Equinor, discusses the company's first-quarter earnings.




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Expecting recovery from coronavirus to be L-shaped, strategist says

Stephen Isaacs, chairman of the investment committee at Alvine Capital Management, discusses the market recovery from the coronavirus crisis.




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Seeing opportunities in UK-listed companies, strategist says

Dan Kemp, CIO of Morningstar Investment Management EMEA, discusses the U.K. economy.




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Long-term economic scarring should justify further easing from Bank of England, economist says

Fabrice Montagne, chief U.K. economist at Barclays, discusses the U.K. economy.




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Strong nutrition business lifted first-quarter earnings, DSM co-CEO says

Geraldine Matchett, co-CEO of DSM, discusses the company's first-quarter earnings.




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Too early to tell if EU will continue to exist as it does today, historian says

Kiran Klaus Patel, author of "Project Europe: A History," discusses the impact of the coronavirus crisis on the European Union.




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German court ruling on ECB bond buying 'laughable,' Societe Generale chair says

Lorenzo Bini Smaghi, chairman of Societe Generale and former member of the ECB's executive board, discusses the German constitutional court's call for the European Central Bank to justify its bond-buying program.




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ECB has responded well to German court ruling, former ECB vice president says

Vitor Constancio, former vice president of the ECB, discusses the German constitutional court's ruling on the European Central Bank's bond-buying program.




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Google Wallet and Apple Pay race for second place

Apple has ventured into the market for mobile payments with Apple Pay, but Google's latest deal with wireless carriers could give it more of an edge.




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Corporate America takes lead in gay-rights uproar

Gay rights advocates and corporate leaders such as Apple's Tim Cook and Wal-Mart's Doug McMillon lead the charge against Arkansas' and Indiana's religious freedom laws.




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How beer benefits the US economy

Beer is the most popular alcoholic drink in the U.S. But did you know the beer industry employs over 2 million Americans?




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Did you know Alcoa helped make all this?

Alcoa is an integral part of consumers' lives whether they know it or not.




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A higher deficit will need to be factored in to new EU budget, says economist

Radhika Rao from DBS Bank discusses the European Union's economic response in combating the coronavirus pandemic.




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HSBC results were unsurprising given economic fallout from coronavirus, says analyst

HSBC's first-quarter earnings were not surprising given the global economic fallout of the coronavirus pandemic, says Filippo Alloatti, senior credit analyst at Federated Hermes. He also discusses the bank's decision to suspend share buybacks and dividend payouts for now.




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The coronavirus crisis is 'accelerating' the need for economic transformation: Citi

Miguel Azevedo of Citi discusses the coronavirus pandemic's impact on Middle Eastern nations, mergers and acquisitions, and economic activity in the Muslim holy month of Ramadan.




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Andrew Forrest on using business power to fight Australia's coronavirus crisis

With ten million test kits now secured by the Mindaroo Foundation and its business partners, Australia will have the "abundant capacity" to test widely for infections to "end the virus, not the economy," says Andrew Forrest, the foundation's co-founder and chairman, and former CEO of Fortescue Metals Group.




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Earnings will get a massive hit this year from the coronavirus hit: Portfolio Manager

Steven Glass of Pengana International Fund says there is a wide disconnect between fundamentals and market moves and we are currently witnessing a bear-market rally.




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Things could look worse for latest US recession: Former Fed special advisor

With the United States in a "very, very severe recession" given the coronavirus outbreak, the Fed will have to continue being a "lender of last resort" and use appropriate monetary policy to ensure sufficient liquidity in the economy, says Andrew Levin, professor of economics at Dartmouth College and a former special advisor to the Federal Open Market Committee (FOMC).




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Oil, Covid-19 shock will not be a capital event for GCC banks: S&P Global Ratings

Given the "strong profitability" of banks in the Gulf Cooperation Council countries, the oil price shock and the coronavirus pandemic are unlikely to deplete their capital base, says Mohamed Damak of S&P Global Ratings.




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North Asian tech stocks are attractive despite coronavirus crisis: State Street

The coronavirus has been a massive blow for markets across the globe. But Daniel Gerard of State Street says tech stocks in North Asia still offer plenty of opportunities for investors.




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The coronavirus pandemic is a 'crisis of trust' for consumers: Majid Al Futtaim CEO

It's going to be a "very difficult" period for the Middle East given coronavirus pandemic, but this could be a "golden opportunity" for economies to implement reforms and become more resilient, says Alain Bejjani, CEO of Majid Al Futtaim.




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Stem cell treatment for coronavirus symptoms being trialed in the UAE

Dr. Fatima al-Kaabi of the Sheikh Khalifa Medical City discusses a stem cell treatment currently being tested for its efficacy in alleviating coronavirus symptoms, and the easing of the lockdown in the UAE.




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Trump is playing the coronavirus 'blame game' with China ahead of the 2020 election: OCBC

The Trump Administration has attacked China over its handling of the coronavirus pandemic. Vasu Menon of OCBC warns tensions between Washington and Beijing could pick up even further, heading into the 2020 election.




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Oil could hit $100 in next 18 months: Egyptian billionaire Naguib Sawiris

Oil prices could rise to $100 in the next 18 months, given that the fallout from the Russia-Saudi oil war has effectively killed the shale industry in the United States for the next year or so, says Naguib Sawiris, chairman and CEO at Orascom Investment Holding.




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Expat job losses in the UAE will add to troubles in the GCC: Economist

Chris Payne of Peninsula Real Estate Management says the real problem in the GCC is not unemployment, but population shrinkage, as expats will be the first to be furloughed in an economic downturn.




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Didi is 'even more confident' about entering global markets now, says president

Didi Chuxing is now "even more confident and more committed" to the idea of entering global markets in the wake of the coronavirus crisis, says Jean Liu, president of the mobile app-based transportation firm.




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China's May, June exports could be weaker due to lockdowns in other countries: Credit Suisse

China's exports could weaken in May, possibly also in June, as some of its largest export markets in the West have been under lockdown due to the pandemic, says Ray Farris, Credit Suisse's chief investment officer for South Asia.