German carmaker Volkswagen is expecting an operating loss in the current quarter due the impact of the coronavirus pandemic, its chief financial officer said on Wednesday.
Boeing Co is working with investment banks on a multibillion-dollar bond-fueled financing package as it aims to shore up its balance sheet amid a sharp travel downturn due to the coronavirus pandemic, three people familiar with the matter said on Tuesday.
Austrian Chancellor Sebastian Kurz and Lufthansa boss Carsten Spohr will meet in Vienna on Wednesday to discuss urgently needed state aid for the German carrier’s Austrian business, a spokesman for Kurz said.
Belgium’s Brussels Airlines, a Lufthansa (LHAG.DE) subsidiary, has extended its suspension of flights until June 1, it said on Wednesday.
(Bloomberg) — U.S President Donald Trump ordered meat-processing plants to stay open to stave off shortages and said confirmed cases had topped one million in the country because of better testing. Elon Musk hit out against the lockdowns that have kept businesses closed for more than a month.France and Spain took cautious steps toward reopening, while new cases rose for the first time in three days in Germany as the government weighs removing more curbs on public life. Beijing will lower its municipal emergency response as it prepares to host the nation’s highest-profile political meeting.GE said that the pandemic ‘materially …read more […]
As the government issues a second round of aid for small business owners, some U.S. senators, community banking groups and minority-owned banks said they are worried businesses owned by people of color may miss out on receiving much-needed loans.
Like its rival AstraZeneca , the British drugmaker stuck to its 2020 forecast and still expects a 1% to 4% fall in profit for the year. Analysts on average expected first-quarter adjusted earnings of 31.5 pence per share and sales of 8.75 billion pounds, according to a company-compiled consensus of 13 analysts. In the race to develop a vaccine to end the COVID-19 pandemic, governments, charities and Big Pharma firms are sinking billions of dollars into bets with extraordinarily low odds of success. …read more […]
U.S. health insurer Anthem Inc beat quarterly estimates for revenue on Wednesday, helped by the recent launch of its pharmacy benefits unit and higher premiums.
U.S. stock index futures rose on Wednesday after Google-parent Alphabet reported upbeat quarterly results, while investors braced for data that could show a sharp contraction in the domestic economy.
This is sure to be one of the most controversial columns we ever publish.
It’s about politics.
It’s not about our politics. It’s not about your politics. It’s about politics and money.
If we don’t say it, we’re not sure who will.
In 2012, we penned a similar piece on the subject. We said one of the greatest risks to investors wasn’t a sudden shift in fundamentals or dwindling consumer demand.
America is strong, we said. She’s resilient. But she’s also quite a political beast.
For all the technological breakthroughs… for all the invention and innovation… for all the hard work… politics are the variable that …read more […]
General Electric Co reported a 7.6% drop in first-quarter revenue, hurt by weakness in its aviation and power units due to the coronavirus pandemic, and fell short of its own free cash flow targets for the quarter.
The Boston-based conglomerate had earlier this month pulled its 2020 forecast, citing uncertainties created by the coronavirus outbreak, but backed its first-quarter industrial free cash flow expectation of near negative $2 billion. Free cash flow from industrial operations was negative $2.2 billion in the first quarter, missing analysts’ estimates of negative $2.02 billion, according to Refinitiv data. …read more […]
Bentley will make wearing face masks compulsory at its British car factory and has introduced a two-metre distance between workers which will result in output halving over the first couple of weeks of production, its boss told Reuters.
The U.S. Securities and Exchange Commission is investigating Luckin Coffee Inc for fabricating millions of dollars worth of sales deals last year, the Wall Street Journal reported https://on.wsj.com/3eYO4Kx on Wednesday citing people familiar with the matter.
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