Business News
UK watchdog investigates EY audit of NMC Health
Britain’s accounting regulator said it has opened an investigation into EY’s audit of NMC Health, the troubled hospital operator that was placed into administration in April.
Year: 2020
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Goldman Sachs says it remains bullish on oil prices in 2021
The Wall Street bank raised its 2021 forecast for global benchmark Brent crude prices to $55.63 per barrel from $52.50 earlier. The bank hiked its estimate for U.S. West Texas Intermediate (WTI) crude to $51.38 a barrel from $48.50 previously. …read more […]
Business News
EU clears 7 billion euros in state aid for Air France
The European Union’s competition watchdog on Monday approved 7 billion euros worth of French state aid for Air France AIRF.PA.
Business News
Britain’s Hotel Chocolat bolsters finances to get through coronavirus crisis
British chocolatier Hotel Chocolat has increased its banking facilities to help get it through the coronavirus crisis, it said on Monday.
Business News
Norwegian Air says lessors support rescue ahead of shareholder vote
Norwegian Air has won “strong support” from lessors for its plan to convert debt to equity, the carrier said on Monday, as shareholders prepared to cast their vote on the scheme in a meeting set to begin at 0630 GMT.
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Norwegian Air's shareholders to vote on pivotal rescue plan
Norwegian Air’s shareholders began a pivotal meeting on Monday to vote on a plan to convert debt into equity and raise more cash that could determine whether the budget carrier survives the coronavirus pandemic. The airline has won “strong support” from aircraft lessors for its plan, it said ahead of the online meeting, which is scheduled to last until 0830 GMT. With 95% of its fleet grounded amid the COVID-19 outbreak, Norwegian Air could run out of cash by mid-May unless shareholders back the plan. …read more […]
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Gilead Says Remdesivir Will Be Available To Patients This Week
Gilead Sciences (GILD) has revealed that its remdesivir Covid-19 treatment will be available to patients early this week. Remdesivir, a direct acting antiviral drug that inhibits viral RNA synthesis, received emergency FDA approval on May 1.“We intend to get [remdesivir] to patients in the early part of this next week, beginning to work with the government which will determine which cities are most vulnerable and where the patients are that need this medicine,” Gilead Sciences CEO Daniel O’Day told CBS on Sunday. O’Day added: “We’ve donated the entire supply that we have within our supply chain and we did that …read more […]
Business News
India’s Reliance to sell $750 million stake in unit to Silver Lake, on track to cut debt
India’s Reliance Industries Ltd said on Monday private equity firm Silver Lake will invest nearly $750 million in its digital arm, days after securing a $5.7 billion investment from Facebook Inc , boosting its efforts to cut debt.
Business News
Dollar up, Asian stocks slip as U.S. pins blame for virus on China
The dollar inched higher, stock markets struggled for traction and oil dropped on Monday as a U.S.-China spat over the origin of the coronavirus put the brakes on optimism about an economic re-start as countries around the world ease restrictions.
Business News
Mirae Asset scraps $5.8 billion deal to buy U.S. hotels from China’s Anbang
South Korea’s Mirae Asset Global Investments said on Monday that it has terminated a $5.8 billion deal to buy 15 U.S. hotels from China’s Anbang Insurance Group [ANBANG.UL].
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The Consensus EPS Estimates For BP p.l.c. (LON:BP.) Just Fell A Lot
One thing we could say about the analysts on BP p.l.c. (LON:BP.) – they aren’t optimistic, having just made a major… …read more […]
Business News
Oil prices slide on demand concerns, U.S.-China trade tension
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.
Business News
Trump administration pushing to rip global supply chains from China: officials
The Trump administration is “turbocharging” an initiative to remove global industrial supply chains from China as it weighs new tariffs to punish Beijing for its handling of the coronavirus outbreak, according to officials familiar with U.S. planning.
Business News
Pandemic slams Asia’s factories, activity hits financial-crisis lows
Asia’s factory activity was ravaged in April, business surveys showed on Monday, and the outlook dimmed further as government restrictions on movement to contain the coronavirus outbreak froze global production and slashed demand.