Tesla Inc Chief Executive Elon Musk’s fight with local authorities over the reopening of its California plant has gotten the attention of those who scout sites for new factories and corporate offices, as well as economic development officials hungry for more jobs.
Top news and what to watch in the markets on Wednesday, May 13, 2020. …read more […]
South Korea’s largest airline, Korean Air , plans to sell around 1 trillion won ($816.55 million) in new shares in its biggest rights issue in 20 years to raise funds amid mounting strains in the industry due to the pandemic.
(Bloomberg) — Tencent Holdings Ltd. reported better-than-expected sales after pandemic-induced lockdowns helped spur growth in its suite of online offerings from gaming to social media.The WeChat operator’s revenue rose 26% to 108.1 billion yuan ($15.2 billion) after gaming sales rose at their fastest pace since 2017 during the coronavirus-stricken March quarter. That compared with the average estimate of 101.07 billion yuan. Net income rose 6% to 28.9 billion yuan from a year earlier, when Tencent booked an 11 billion yuan one-time gain on investments.Tencent, which never offers precise financial guidance, warned that the boost to its gaming business from Covid-19 …read more […]
(Bloomberg) — Tencent Holdings Ltd. reported better-than-expected sales after pandemic-induced lockdowns helped spur growth in its suite of online offerings from gaming to social media.The WeChat operator’s revenue rose 26% to 108.1 billion yuan ($15.2 billion) after gaming sales rose at their fastest pace since 2017 during the coronavirus-stricken March quarter. That compared with the average estimate of 101.07 billion yuan. Net income rose 6% to 28.9 billion yuan from a year earlier, when Tencent booked an 11 billion yuan one-time gain on investments.Tencent, which never offers precise financial guidance, warned that the boost to its gaming business from Covid-19 …read more […]
(Bloomberg) — Caution hung over markets on Wednesday, with European stocks dropping in the wake of a late decline on Wall Street, and U.S. equity futures edging higher alongside Asian benchmarks. Treasuries rose, while oil futures slipped.Declines in travel and auto shares pulled the Stoxx Europe 600 Index lower, as corporate earnings continued to underscore the devastating impact of the coronavirus pandemic. The world’s largest container line, A.P. Moller-Maersk A/S, said the fallout from Covid-19 will drive volumes down by as much as 25% this quarter. European tech shares pared declines, however, after China’s Tencent Holdings Ltd. said first-quarter sales …read more […]
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.
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