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Why Technology Hardware Stocks Fell Hard Today

What happened Many stocks in the tech sector crashed on Thursday as the COVID-19 panic reared its ugly head again. The hardware makers below all plunged at least 10% lower without sharing any bad news of their own: Company Industry Price Change at Market Close Ubiquiti (NYSE:UI) Wireless networking (12.5%) NVIDIA (NASDAQ:NVDA) Graphics processors (12.2%) Corning (NYSE:GLW) Specialty glass & ceramics (11.6%) Broadcom (NASDAQ:AVGO) A broad Read More

As coronavirus spreads in NYC, its impact on real estate remains uncertain

As of this writing, nearly 200 people in New York state have tested positive for COVID-19, the novel coronavirus that has rapidly spread across the globe; 36 of those cases are within New York City, with even more people choosing to self-quarantine. The spread of the novel coronavirus has already impacted New Yorkers in ways both small and large: More people are Read More

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Perfect storm of bad weather and business rates fuels retail crisis

 People shopping on Oxford Street in London during wet weather – but many more stayed at home. Photograph: Peter Summers/PA The crisis on Britain’s high streets showed no sign of easing during the storm-buffeted month of February, while new figures show the number of retail workers losing their jobs this year is approaching 20,000. Severe rain last month caused a Read More

Coronavirus: Auckland businesses, restaurants reeling

Auckland central city businesses are reeling from the impact of the coronavirus outbreak; some reporting business dropping by 90 per cent. Restaurants and hospitality businesses are losing about $6 million per week, and the figure is expected to rise, according to the Restaurant Association. Freddy Iskandar, of Waroeing Bali in Atrium Food Court, says his business sales are well down, Read More

Starbucks says China business is recovering, but second-quarter will take hit to sales from coronavirus closures

Starbucks warned investors on Thursday that store closures in China due to the coronavirus outbreak are likely to result in a 50% decline in its same-store sales in China during its fiscal second quarter. However, it said that it was seeing signs of a pickup in its business in China, and it hasn’t yet detected any slowdown in the U.S. Shares of Read More

Startups now chasing chief business officers to scale up

BENGALURU: There is a new leadership profile in demand: chief business officers. If headhunters and venture capitalists are to be believed, startups are now hiring more CBOs than chief operating officers and chief marketing officers, and they predict 40-50% increase in hiring for this relatively new role across startups. So, what does a CBO do? In the case of a new-age company that Read More

How Mumbai crumbled and took luxury real estate with it

In 2018, a South Korean friend was deputed to head the India business of a company. He searched for over three months for a flat in Mumbai. Eventually, he opted for a spacious apartment in a luxurious complex in Worli at a monthly rent of Rs 4,00,000. Residents of Mumbai will know that as the centre of business activity has Read More

Tata Motors to exit its car retail business Concorde Motors

MUMBAI: Tata Motors Ltd (TML) is gradually exiting its passenger car retail business–Concorde Motors India Ltd–as part of its strategy to pare costs by moving out of non-core assets and businesses to navigate through the economic downturn in the country. Concorde Motors, which has been a 100% subsidiary of Tata Motors since 3 July, 1999, reported a loss of ₹105.69 crore Read More

National Education Policy back to drawing board after PM review, to be tweaked further

NEW DELHI: The Human Resource Development Ministry’s proposal to revamp the higher education regulatory regime is back to the drawing board after a detailed review of the draft national education policy by the Prime Minister this week. ET has reliably gathered that each issue of the policy was discussed threadbare at the PM’s review meeting on February 19. Several tough questions, sources Read More

US, UAE and Singapore firms top investors in Indian real estate sector

While Indian real estate attracted more than $5 billion in private equity inflows in 2019, firms from US, UAE and Singapore remain bullish on the sector even as Japanese and South Korean investors are evaluating options in 2020. As per data made available by Anarock Capital, US-based Blackstone remains bullish on Indian real estate and pumped in over $1.8 billion Read More