Category: Business Ideas

Credit Suisse earmarks more than $300 billion for sustainable finance

LONDON (Reuters) – Credit Suisse plans to provide at least 300 billion Swiss francs ($328.41 billion) in sustainable financing over the next decade in areas such as renewable energy and Green Bonds.

The move is the latest in a string of announcements by banks looking to display their green credentials and capture demand for cash from companies to help a shift to a low-carbon economy. Governments around the world are tightening rules on industry to try to meet the terms of the 2015 Paris climate agreement.

Credit Suisse also said it would cut exposure to the oil and gas sector,

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Retailers Beat Low Bar While Banks Stay Cautious: Earnings Wrap

(Bloomberg) — Some consumer companies beat depressed earnings expectations but the broader outlook for the rest of the year remains murky based on forecasts from chemical producers and banks, particularly with fears of a possible resurgence in virus infections.

Gucci-owner Kering SA said it was seeing signs of a recovery through online sales even as its second-quarter revenue plunged. French grocer Carrefour SA was also boosted by a standout performance in its Latin American arm. And though U.K. high street bellwether Next Plc’s sales fell by nearly three-quarters, the expectations were even worse.

European companies’ second-quarter reports so far have

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The World Economy Is in Trouble

(Bloomberg) — It’s easy to forget now but there was a time early on in the pandemic when the price of gold was in freefall.

It was a curious thing, what with the virus sparking a collapse in the global economy, and it would prove in time to be one of the great head-fakes in the recent history of financial markets. For the pandemic of 2020 would soon show itself to be the driving force behind one of the most ferocious rallies the gold market has ever seen. At the close of trading in New York on Friday, bullion had

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Las Vegas Sands (LVS) Q2 Earnings Miss Estimates, Fall Y/Y

Las Vegas Sands Corp. LVS reported dismal second-quarter 2020 results, wherein earnings and revenues not only missed the Zacks Consensus Estimate but also declined sharply on a year-over-year basis.  

Despite the dismal performance, the company is optimistic about future growth on a strong balance sheet. Also markets in Macao, Singapore and Las Vegas are in the initial stages of recovery amid the pandemic effect.

Earnings & Revenue Discussion

The company reported adjusted loss per share of $1.05, wider than the Zacks Consensus Estimate of a loss of 72 cents. In the prior-year quarter, the company reported adjusted earnings per share

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Tailored Brands to Close Up to 500 Stores

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Tailored Brands Inc. is making some dramatic moves to right the ship.

Early Tuesday, the parent of Men’s Wearhouse and Jos. A. Bank said it will close up to 500 stores and slash 20 percent of its workforce due to the coronavirus.

As a result, the company expects to record a pre-tax charge of about $6 million in the second quarter of fiscal 2020 for severance payments and other termination costs, all of which are cash costs, it said.

Dinesh Lathi, president and chief executive officer, said, “We have safely reopened almost all

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