Malaysia’s AirAsia Group Bhd said on Wednesday it did not intend to take any new aircraft deliveries this year due to the sharp fall in demand from the coronavirus crisis and was relooking at its order book with Airbus SE .
Novartis on Wednesday won a new European approval for its inflammation drug Cosentyx in a form of arthritis, as the Swiss drugmaker predicts broadening use of its top-selling medicine will eventually push annual sales beyond $5 billion.
Volkswagen on Wednesday said it expected to be profitable on a full-year basis even as the coronavirus pandemic caused first-quarter earnings to plunge.
Daimler said it expected the operating profit of its Mercedes-Benz Cars & Vans division to be above the prior-year level, even as the corona pandemic forced the Stuttgart-based car and trucks maker to abandon its outlook earlier this month.
Planemaker Airbus on Wednesday posted a 49% slump in first-quarter adjusted operating profit to 281 million euros ($304.7 million) as revenue dropped 15% to 10.631 billion euros amid the “gravest crisis the aerospace industry has ever known”.
Samsung Electronics Co Ltd said on Wednesday it expected profit to decline in the current quarter due to a coronavirus-related slump in sales of smartphones and TVs, although the chip business would remain solid.
Garbage haulers still collect trash. Cops are on the beat. Couriers deliver food and packages. Insurance agents work from home.
The Federal Reserve, which has pumped trillions in emergency funding into U.S. financial markets to stem the damage from the coronavirus pandemic, is expected on Wednesday to reiterate its promise to do whatever it takes to support the world’s largest economy.
(Bloomberg) — Southwest Airlines Co. raised about $4 billion by selling shares and convertible notes, stepping up a push to add liquidity as the coronavirus pandemic all but erases demand for flights.The carrier sold 70 million shares at $28.50 apiece and $2 billion of convertible notes due in 2025, according to a statement. Southwest increased both the stock and bond portion of the sale from what it had previously targeted.Southwest is following United Airlines Holdings Inc. in offering equity amid the biggest crisis in the industry’s history, as carriers rush to raise funds even after receiving billions of dollars in …read more […]
Planemaker Airbus posted on Wednesday a 49% slump in first-quarter adjusted operating profit to 281 million euros ($304.7 million) as revenues fell 15% to 10.631 billion amid the “gravest crisis the aerospace industry has ever known”.
Standard Chartered PLC said on Wednesday its first-quarter profit tumbled 12%, as the emerging markets-focused bank boosted provisions against bad loans as the coronavirus crisis hammers its borrowers.
The U.S. economy likely contracted in the first quarter at its sharpest pace since the Great Recession as stringent measures to slow the spread of the novel coronavirus almost shut down the country, ending the longest expansion in the nation’s history.
Boeing Co is working with investment banks on a multibillion-dollar bond-fueled financing package, aiming to shore up its balance sheet amid a sharp travel downturn from the pandemic, three people familiar with the matter said on Tuesday.
The preparations reflect Boeing’s confidence that it can tap the capital markets to strengthen its finances, even as the largest U.S. planemaker weighs seeking government aid. Boeing has lined up investment banks to potentially market an offering to bond investors in the coming days, provided that market conditions are favorable, the sources said, cautioning that the exact timing and size of the offering had not been decided. Boeing declined to comment. …read more […]
Asian shares rose for a third session on the trot on Wednesday as investors took heart from easing coronavirus lockdowns in some parts of the world while oil prices jumped on hopes demand will pick up.
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