Lufthansa is negotiating a 9 billion euro ($9.71 billion) bailout with Germany’s economic stabilisation fund to ensure its future, the airline said on Thursday, confirming an earlier Reuters report.
Panama’s Copa Airlines said on Thursday that it is planning to retire early its fleet of 14 older Boeing 737-700 NG planes, the latest carrier to do away with planes due to the coronavirus crisis.
Millions more Americans sought unemployment benefits last week, suggesting layoffs broadened from consumer-facing industries to other segments of the economy and could remain elevated even as many parts of the country start to reopen.
Yahoo Finance’s Jared Blikre breaks down the latest market action. …read more […]
As U.S. oil prices plunged, sand suppliers have shut mines, dismissed workers and slashed operations as customers stop drilling and fracking new shale oil wells. “You can drive by plants and see which ones have already been walked away from,” said Peter Allen, a director at closely held Black Mountain Sand, which operates mines in Texas and Oklahoma. “It will remove a substantial amount of supply and will leave the healthy companies in place,” he said, adding Black Mountain sits on enough cash to weather the downturn. …read more […]
Liberty Global and Telefonica have agreed to merge their British businesses in a $38 billion deal that will create a powerhouse in mobile and broadband to take on market leader BT .
The U.S. agency that enforces laws prohibiting disability discrimination said on Thursday that employers must try to accommodate workers with medical conditions that make them vulnerable to the novel coronavirus before sending them home.
World shares rose on Thursday after Chinese exports proved far stronger than expected, while the U.S. dollar climbed to two-week highs on its safe-haven status after another report showed millions more Americans took unemployment aid.
JetBlue Airways Corp on Thursday posted a $268 million quarterly loss as the coronavirus pandemic hurt air travel demand, and cut its order book with Airbus SE by about 34% through 2022 to save $1.1 billion in aircraft spending.
For Claudia Alejandra, unemployment has become a full-time job.
Yahoo Finance’s Brian Sozzi and Alexis Christoforous break down the market action for Moderna, after the company announced it received FDA clearance for its coronavirus vaccine for phase 2 trial. …read more […]
Neiman Marcus Group filed for bankruptcy protection on Thursday, marking one of the highest-profile collapses yet among retailers forced to temporarily close stores in response to the COVID-19 pandemic.
Harley-Davidson Inc on Thursday appointed board member and turnaround specialist Jochen Zeitz to the role of chief executive officer, as the struggling motorcycle maker looks to tap into his expertise to woo customers and revive sales.
(Bloomberg) — Shares of PayPal Holdings Inc. rallied as much as 13%, reaching a record high in early trading on Thursday, with analysts zeroing in on the payments company’s strong April trends and growth in electronic transactions across the board.Square Inc. rose as much as 8.6% to the highest since early March, as it benefited from some of that, too. But worries about credit and its small-and-medium sized business market factored in as well.Both are outperforming the market so far this year, with PayPal soaring 34% and Square up 19%, even as the S&P 500 has shed 11%, stung by …read more […]
“You would expect at a time like this, you have a bigger bear market, and that is why I’ve been cautious and kept a little powder dry, because there could be relapses in the market,” said Mobius, founder of Mobius Capital Partners, which has $130 million assets under management. “But the way it looks now, we may be in full recovery mode,” Mobius told the Reuters Global Markets Forum on Thursday, May 7, from Munich. …read more […]
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