Starbucks says it lost $3 billion in revenue in latest quarter due to coronavirus pandemic

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A person wears a protective face mask outside Starbucks in Kips Bay during the coronavirus pandemic on May 13, 2020 in New York City.

Noam Galai | Getty Images

Starbucks expects to swing to a loss in its fiscal third quarter as the company predicts it lost as much as $3.2 billion in revenue due to the coronavirus pandemic.

The chain is forecasting adjusted losses per share of 55 cents to 70 cents during for quarter ended June 28. But it expects that its fiscal fourth-quarter earnings will improve, predicting adjusted earnings per share of 15 cents to 40 cents. 

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Nasdaq’s latest Chinese IPO Dada calls for greater scrutiny on markets

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Dada Founder and CEO, Philip Kuai, at the company’s Nasdaq IPO celebration held in Shanghai on June 5, 2020.

Courtesy of Dada

SHANGHAI – Chinese grocery delivery company Dada is confident it can stand up to U.S. scrutiny as a newly listed company in New York.

The Walmart-invested company went public under the ticker DADA on the Nasdaq Friday, with a valuation of $3.5 billion. In remarks to reporters, founder and CEO Philip Kuai played down the impact of U.S.-China tensions as temporary, and struck a confident tone in the long-term prospects of Dada’s business, which has benefited from the

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Dozens of Chinese companies added to U.S. blacklist in latest Beijing rebuke

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WASHINGTON (Reuters) – The United States said on Friday it would add 33 Chinese firms and institutions to an economic blacklist for helping Beijing spy on its minority Uighur population or because of ties to weapons of mass destruction and China’s military.

FILE PHOTO: Flags of U.S. and China are placed for a meeting between Secretary of Agriculture Sonny Perdue and China’s Minister of Agriculture Han Changfu at the Ministry of Agriculture in Beijing, China June 30, 2017. REUTERS/Jason Lee

The U.S. Commerce Department’s move marked the Trump administration’s latest efforts to crack down on companies whose goods may support

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EasyJet board looks set to win latest battle with Stelios

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LONDON (Reuters) – EasyJet’s (EZJ.L) board looks poised to win a shareholder vote on Friday and deal a blow to its founder and long-term critic over the British low-cost airline’s plan to stick with a $5.5 billion plane order.

FILE PHOTO: Deserted Easyjet check-in desks are seen at Nice international airport during the outbreak of the coronavirus disease (COVID-19) in Nice, France, May 20, 2020. REUTERS/Eric Gaillard/File Photo

Stelios Haji-Ioannou, whose family is easyJet’s biggest investor with a 34% stake, wants to oust the CEO, finance chief, chairman and another director, arguing their plan for the airline to

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