EU antitrust regulators have resumed their investigation into Boeing’s bid to buy the jetmaking arm of Embraer , with a decision due by Aug. 7, a European Commission filing showed on Wednesday.
EU antitrust regulators have resumed their investigation into Boeing’s bid to buy the jetmaking arm of Embraer , with a decision due by Aug. 7, a European Commission filing showed on Wednesday. The EU competition enforcer in October last year expressed concerns about the $4.2 billion deal, saying it would remove Embraer as the third largest global competitor in the highly concentrated commercial aircraft industry, especially in single-aisle commercial planes. Embraer’s commercial unit builds jetliners in the 70- to 150-seat segment and competes with the Canadian-designed A220 programme recently acquired by Europe’s Airbus . …read more […]
Finland’s Kone reported a 10% fall in first-quarter profit hurt by the coronavirus outbreak but beat forecasts and stuck with its recently adjusted 2020 outlook.
Stormy oil markets sent Brent prices crashing to their lowest since 1999 on Wednesday, though a stabilisation of some petrocurrencies and a bounce in European stocks gave investors something buoyant to cling to.
Equinor’s head of exploration, Tim Dodson, will step down at the end of May in a planned leadership change, the Norwegian oil and gas company said on Wednesday.
Oil slumped to less than $16 a barrel on Wednesday, hitting its lowest since 1999, with the market awash with excess supply as the economic fallout from the coronavirus pandemic continues to hammer demand for fuels.
A growing body of scientific research linking tyre wear to microplastic pollution, as well as increasing scrutiny from lawmakers in the European Union (EU), has led the $180 billion-a-year tyre industry to fight back.
(Bloomberg) — Facebook Inc. will invest $5.7 billion in the digital assets controlled by India’s richest man, the U.S. social-networking giant’s biggest deal since the 2014 purchase of WhatsApp as it seeks a broader foothold in its biggest global market.The U.S. company will buy about 10% of Jio Platforms, becoming the largest minority shareholder, Reliance Industries Ltd. said in a statement Wednesday. Separately, Facebook said the deal would bring together JioMart, an ecommerce venture of Mukesh Ambani and its WhatsApp platform to enable people to connect with businesses.Shares of Reliance Industries jumped as much as 12% on Wednesday in Mumbai, …read more […]
Troubled fashion retailer Ted Baker on Wednesday named easyJet Chairman John Barton as its non-executive chairman, less than a month after appointing Rachel Osborne to the permanent role of chief executive officer.
Oil prices slumped again on Wednesday, with Brent falling to the lowest since 1999, as the market struggled with a massive crude glut amid a collapse in demand for everything from gasoline to jet fuel caused by the coronavirus outbreak.
Asian share markets were on the defensive on Wednesday as the floor fell out from under crude prices, sparking worries about further turmoil in the energy sector, already reeling from the heavy blow from global shutdowns.
United Airlines (UAL) has announced an underwritten public offering of 39.25 million shares of its common stock in a bid to raise around $1 billion,as it seeks to further boost liquidity in these challenging times. The offering will be priced at $26.50 per share.The company has also granted to the underwriters a 30-day option to purchase up to 3,925,000 additional shares. According to the statement, the proceeds from the offering will be used for general corporate purposes. Subject to the satisfaction of customary conditions, the offering is expected to close on April 24, 2020.UAL stock, which dropped 1.7% in after-hours …read more […]
Private equity and distressed situation specialists Apollo Global Management, Oaktree Capital Management and BGH Capital are among those that have expressed interest in restructuring Virgin Australia Holdings Ltd , five sources said.
(Bloomberg) — Oil in London tumbled to the lowest in almost 21 years as the global benchmark was sucked into the rout that sent U.S. futures below zero for the first time ever this week.Brent futures for June delivery lost 12% to trade near $17 a barrel while New York’s West Texas Intermediate fell 4% having lost almost half its value on Tuesday. Prices continue to crash amid fears the massive glut that sent May WTI to as low as minus $40.32 a barrel on Monday is only going to get worse.With global demand crushed by coronavirus lockdowns, concerns that …read more […]
Oil traders are struggling to find enough ships, railcars, caverns and pipelines to store fuel as more conventional storage facilities fill up amid abundant supply and plummeting demand due to the coronavirus crisis.
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