EasyJet can survive a nine-month shutdown thanks to its measures to contend with the coronavirus crisis and is planning for a slow recovery, the British airline said on Thursday.
The United States opposes creation of liquidity through issuance of the International Monetary Fund’s Special Drawing Rights (SDRs) as part of the response to the coronavirus pandemic, U.S. Treasury Secretary Steven Mnuchin said on Thursday.
The results capped first-quarter earnings from big U.S. banks, marked by significant declines in profit and billions in provisions to cover for a wave of expected loan defaults due to a global economic slowdown triggered by the pandemic. Morgan Stanley’s wealth management unit, which contributes roughly half of its total revenue, fell 8% to $4.04 billion, as it bore the brunt of the ongoing turmoil in financial markets. …read more […]
Bank of America Corp. (BAC) saw its profit plunge 48% in the first three months of the year as the U.S. investment bank set aside a $3.6 billion provision for potential losses in anticipation of a deteriorating economic outlook.First-quarter pre-tax income fell to $4.5 billion, or 40 cents a share from the year-ago period. Credit loss provisions in the quarter increased to $4.8 billion from $1 billion a year ago, fueled by a $3.6 billion reserve buffer to cover for potential losses as a result of the economic impact induced by the coronavirus pandemic. Revenue slid to $22.8 million from …read more […]
(Bloomberg) — Barrick Gold Corp., the world’s second-largest producer of the metal, reported the lowest quarterly production since the third quarter of 2018 but still thinks it will make its annual guidance.“These results positioned Barrick well to achieve its guidance for the year despite the impact of the global Covid-19 pandemic and the resultant lockdowns,” Barrick Chief Executive Officer Mark Bristow said Thursday in a statement.Key InsightsIn February, Barrick forecast production this year will range from 4.8 million to 5.2 million ounces.Preliminary first-quarter gold production is 1.25 million ounces of gold, Barrick said. First-quarter all-in sustaining costs for gold are …read more […]
Dropbox, Inc.’s (NASDAQ:DBX): Dropbox, Inc. provides a collaboration platform worldwide. On 31 December 2019, the… …read more […]
Morgan Stanley posted a 32% fall in quarterly profit on Thursday as its advisory and wealth management businesses took a hit from the economic fallout of the COVID-19 pandemic.
Volkswagen Group on Thursday said that it was withdrawing its outlook for 2020 amid uncertainty related to the coronavirus outbreak which caused a fall in demand and group revenue to drop 8% in the first quarter of this year.
The ‘FREE NOW’ taxi ride-hailing service run by Daimler and BMW announced on Thursday a corporate restructuring, which could lead to job cuts, and unveiled plans to merge with French app Kapten.
As Wall Street stocks pause for breath following a blistering three-week surge, signals from the options market are suggesting that some investors believe the gains may endure.
As part of the urgent global race to tackle the coronavirus outbreak, Novavax (NVAX) is due to commence Phase 1 testing for its SARS-CoV-2 vaccine, NVX-CoV2373, within the coming weeks.According to the statement, this is the third confirmed global Covid-19 vaccine trial and the first in Australia.“The urgent global race to develop a vaccine against the COVID-19 pandemic drove our rapid identification and selection of an optimal, highly immunogenic vaccine candidate,” said Stanley C. Erck, President and CEO of Novavax.The Phase 1 in-human trial of NVX-CoV2373 is expected to begin in mid-May with preliminary immunogenicity and safety results in July, …read more […]
Citigroup Inc. (NYSE:C) saw a significant share price rise of over 20% in the past couple of months on the NYSE. With… …read more […]
Top news and what to watch in the markets on Thursday, April 16, 2020. …read more […]
Ford Motor Co said on Thursday that its China vehicle sales in the first three months this year fell 34.9% from a year earlier to 88,770 units, as the novel coronavirus epidemic hit demand in the world’s biggest auto market.
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