October 21, 2020 - Biz in 60

Business in 60 Seconds

0:00
00:01:12
10
10

October 21, 2020 - Biz in 60

Business in 60 Seconds

Cathay Pacific cuts 8,500 jobs and closes regional airline Cathay Pacific is slashing 8-and- a-half thousand jobs globally as it grapples with a plunge in demand as a result of the pandemic. The cuts include 2-thousand 600 vacant positions that would remain unfilled. Hong Kong's flag carrier is also shutting its regional Cathay Dragon brand as part of a restructuring that would cost around 285-million- dollars. Nestle ups full-year guidance as Q3 sales beat expectations Nestle has reported organic sales growth of 4-point-9 percent in the third quarter, beating analysts' expectations. That's as strong demand for pet food and health products helped offset a slump in food sales to restaurants and cafes. The world's largest food company has also raised its guidance for 2020, forecasting sales growth of around 3 percent for the year. Snap shares surge as user growth, revenue top estimates Shares in Snap jumped around 25-percent after the social media platform smashed expectations for revenue and user growth. The company reported an 18-percent rise in daily active users in the third quarter to 249-million, as more people signed-up to the service during the pandemic. Revenue also surged 52-percent to a record 680-million- dollars.
Episodes
Date
Duration
Recommended episodes :

January 23, 2021 Biz in 60

Business in 60 Seconds

January 21, 2021 Biz In 60

Business in 60 Seconds

January 20, 2021 Biz in 60

Business in 60 Seconds

The podcast Business in 60 Seconds has been added to your home screen.

Cathay Pacific cuts 8,500 jobs and closes regional airline Cathay Pacific is slashing 8-and- a-half thousand jobs globally as it grapples with a plunge in demand as a result of the pandemic. The cuts include 2-thousand 600 vacant positions that would remain unfilled. Hong Kong's flag carrier is also shutting its regional Cathay Dragon brand as part of a restructuring that would cost around 285-million- dollars. Nestle ups full-year guidance as Q3 sales beat expectations Nestle has reported organic sales growth of 4-point-9 percent in the third quarter, beating analysts' expectations. That's as strong demand for pet food and health products helped offset a slump in food sales to restaurants and cafes. The world's largest food company has also raised its guidance for 2020, forecasting sales growth of around 3 percent for the year. Snap shares surge as user growth, revenue top estimates Shares in Snap jumped around 25-percent after the social media platform smashed expectations for revenue and user growth. The company reported an 18-percent rise in daily active users in the third quarter to 249-million, as more people signed-up to the service during the pandemic. Revenue also surged 52-percent to a record 680-million- dollars.
Subscribe Install Share
Business in 60 Seconds

Thank you for your subscription

For a better experience, also consider installing the application.

Install