Year: 2020

Factory activity was ravaged across the world in April, business surveys showed, and the outlook looked bleak as government lockdowns to contain the new coronavirus pandemic froze global production and slashed demand.

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Nissan Motor Co Ltd will pull back from Europe and elsewhere to focus on the United States, China and Japan under a plan that represents a new strategic direction for the embattled carmaker, people with direct knowledge of the plan told Reuters.

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J. Crew Group Inc filed for bankruptcy protection on Monday with a plan to hand over control to lenders, adding to a list of brick-and-mortar retailers pushed to the brink by widespread store closures in response to the COVID-19 pandemic.

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Norwegian Air shareholders backed its financial survival plan on Monday, with more than 95% of votes cast supporting the conversion of nearly $1 billion of debt into equity and raising more cash from its owners.

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Shares in Spain’s Telefonica SA rose on Monday to post the only strong gains on an otherwise almost entirely red Madrid index, after the company confirmed it was in talks with billionaire John Malone’s Liberty Global Plc over a possible merger of their respective businesses in Britain.

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European stock markets and oil prices fell on Monday as a spat between top U.S. officials and China over the origin of the coronavirus fuelled fears of a new trade war, derailing a rebound in global markets.

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Norwegian Air’s shareholders gave their backing on Monday to the company’s financial survival plan, with about 95% of votes cast supporting the conversion of debt into equity, financial daily Dagens Naeringsliv reported on Monday.

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HSBC Holdings PLC said on Monday its insurance unit had agreed to acquire its China life insurance venture partner’s 50% stake to own fully the company under the new rules on foreign ownership that came into effect in January.

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J. Crew Group Inc filed for bankruptcy protection on Monday, adding to an array of brick-and-mortar retailers pushed to the brink by widespread store closures in response to the coronavirus pandemic.

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Mastercard has promoted Mark Barnett to the role of president of its European business, responsible for the payment giant’s strategy and operations across 53 countries.

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Oil prices fell on Monday, paring last week’s gains, on worries a global oil glut may persist amid slumping demand and U.S.-China trade tensions that could restrict an economic recovery even as coronavirus pandemic lockdowns start to ease.

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