Emirates Airline from May 21 plans to operate scheduled flight services from Dubai to London Heathrow, Frankfurt, Paris, Milan, Madrid, Chicago, Toronto, Sydney and Melbourne, it said in a statement on Wednesday.
Currency service provider Travelex [TFPI.UL] said on Wednesday it would default on a 14.4 million euro ($15.6 million) coupon payment on some of its senior notes as it grapples with a hit to earnings amid the coronavirus crisis.
South Korea’s largest airline, Korean Air , said on Wednesday its board decided to sell about 1 trillion won ($816.55 million) in new shares to raise funds amid mounting strains in the industry due to the coronavirus pandemic.
South Korea’s largest airline, Korean Air , said on Wednesday its board decided to sell about 1 trillion won ($816.55 million) in shares to raise funds as airlines’ finances come under strain from grounded fleets due to travel restrictions and crippled demand from the coronavirus pandemic.
Global stocks and oil prices fell on Wednesday as fears about a second wave of coronavirus infections gripped financial markets.
German lender Deutsche Bank plans to pump at least 200 billion euros ($216.8 billion) into so-called sustainable financing and investments by 2025, its first formal targets for doing so.
Amazon plans to extend until May 18 the closure of its six French warehouses, which have been closed since April 16 after court rulings ordering the U.S. e-commerce giant to restrict deliveries during the coronavirus pandemic.
Japan has no plan to change its schedule regarding the launch of integrated resorts (IR) – Las Vegas-style complexes that include casinos and shopping arcades – despite Las Vegas Sands’ decision to end its plan to open an IR casino in Japan, a top government spokesman said on Wednesday.
Shipping group A.P. Moller-Maersk on Wednesday warned of a sharp drop in global container volumes due to the coronavirus pandemic, sending its shares down sharply.
Aston Martin posted a deep first-quarter loss after sales dropped by nearly a third due to the impact of the coronavirus crisis, though the luxury car maker said production of a crucial sport utility vehicle was on track.
(Bloomberg) — The firings of Luckin Coffee Inc.’s chief executive officer and her lieutenant in an escalating scandal over faked transactions is another body blow for the Chinese chain, which expanded at breakneck speed trying to supplant Starbucks Corp. as the dominant barista in a booming coffee culture.CEO Jenny Zhiya Qian and Chief Operating Officer Jian Liu were terminated and also resigned their board positions, according to a Tuesday filing by the U.S.-listed company. Six others either were suspended or placed on leave. Jinyi Guo, a board member and senior vice president, was named acting CEO.The dismissals reflect the increasing …read more […]
Amazon plans to extend the closure of its French warehouses until May 18, the U.S. e-commerce giant said on Wednesday.
Tourism will recover to its pre-coronavirus levels by 2022 at the latest and European holidays will restart in July said Fritz Joussen, the chief executive of travel group TUI .
(Bloomberg) — Commerzbank AG took a 479 million-euro ($520 million) hit to deal with the fallout from the coronavirus crisis, joining peers in marking down assets and boosting reserves to deal with bad loans.The Frankfurt-based bank said on Wednesday that 185 million euros of its 326 million euros in credit provisions were directly related to the outbreak, while the crisis also caused a hit of 295 million euros in the value of customer derivatives. Commerzbank said credit provisions could reach 1.4 billion euros this year, making its goal of posting a profit “very ambitious.”The outbreak has added urgency to a …read more […]
Asian shares recovered early losses and crept into positive territory on Wednesday, but stock futures pointed to a lower European open as worries about a slow economic recovery from the coronavirus weighed on global sentiment.
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