Home Depot misses profit estimates after handing out virus-related bonuses

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The logo of U.S. home improvement chain Home Depot is seen after the Mexican trade union Revolutionary Confederation of Laborers and Farmworkers (CROC) accused Home Depot of blocking union activity, in Mexico City, Mexico January 15, 2020. REUTERS/Luis Cortes

(Reuters) – Home Depot Inc (HD.N) missed estimates for quarterly profit on Tuesday, as the home improvement chain spent heavily to compensate employees working at its stores during the COVID-19 pandemic.

Shares of Home Depot, which have gained 12.4% this year, dropped nearly 3% to $238.50 in premarket trading, as the company also scrapped its full-year outlook, citing uncertainties

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Wall Street bonuses set to fall by as much as 30% in 2020: report

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FILE PHOTO: The Wall Street sign is pictured at the New York Stock exchange (NYSE) in the Manhattan borough of New York City, New York, U.S., March 9, 2020. REUTERS/Carlo Allegri

NEW YORK (Reuters) – Wall Street bonuses for 2020 could fall by as much as 25%-30% due to the deep cuts to revenues recorded by banks and hedge funds earlier this year as a result of the novel coronavirus, according to a report published Wednesday by compensation consulting firm Johnson Associates Inc.

While most compensation is expected to be down, 2020 is likely to be a year with “wide,

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Kraft-Heinz extends factory worker bonuses in pandemic

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FILE PHOTO: Shareholders shop for discounted products at the Kraft Heinz booth at the annual Berkshire Hathaway shareholder meeting in Omaha, Nebraska, U.S., May 4, 2019. REUTERS/Scott Morgan

LONDON (Reuters) – Kraft Heinz (KHC.O) will extend for two weeks a $100 per week stipend for factory workers producing its packaged foods during the COVID-19 pandemic, the company said on Wednesday.

“Kraft Heinz has made the decision to extend the $100 per week stipend for another two weeks and we will continue to evaluate this special compensation program as the situation evolves,” a spokesman for the U.S.-based maker of

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UK banks scrap dividends on coronavirus fears, pressure on bonuses

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LONDON (Reuters) – Britain’s top banks said on Tuesday they would suspend dividend payments after pressure from the regulator, saving their capital as a buffer against expected losses from the economic fallout from the coronavirus.

FILE PHOTO: People queue at Barclays Bank in St Albans, as the spread of the coronavirus disease (COVID-19) continues, in St Albans, Britain, March 23, 2020. REUTERS/Paul Childs/File Photo

Barclays (BARC.L), HSBC (HSBA.L), Lloyds Banking Group (LLOY.L), Royal Bank of Scotland (RBS.L), Standard Chartered (STAN.L) and the British arm of Spain’s Santander (SAN.MC)

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