Brazil’s Embraer SA has already begun an arbitration process against Boeing Co , its CEO said on Monday, after the U.S. planemaker canceled a $4.2 billion deal overnight.
Oil prices slumped again on Monday on concerns over scarce storage capacity, especially in the United States, and global economic doldrums from the coronavirus pandemic.
EasyJet’s battle with its founder and biggest shareholder Stelios Haji-Ioannou will come to a head on May 22, when the results of an investor vote on the airline’s strategy to stick with a plan to buy more planes will be made public.
U.S. stock index futures rose on Monday as more states looked set to lift coronavirus-induced curbs, and investors awaited earnings reports from marquee companies including Apple and Microsoft due this week.
Shares of GM were 1.4% lower at $21.65 before the bell. “We continue to enhance our liquidity to help navigate the uncertainties in the global market created by this pandemic,” said GM Chief Financial Officer Dhivya Suryadevara. GM, which has been forced to shut some production in North America along with other car makers, had earlier said it has postponed work on at least half a dozen future models to conserve cash during the pandemic. …read more […]
General Motors Co said on Monday the automaker has suspended its quarterly cash dividend on its common stock and its share buybacks to save cash in the face of the coronavirus crisis.
VW the world’s largest carmaker by sales, resumed work at its biggest factory in Wolfsburg, Germany, on Monday even as inventory levels across the industry continue to build up as the coronavirus pandemic saps demand.
Norway has started formal talks with the shipbuilding division of Thyssenkrupp for the construction of new submarines and expects to conclude the negotiations this year, the Norwegian defence ministry said on Monday.
Quarantines and lockdowns at large U.S. power plants are threatening to squeeze a multibillion-dollar slice of revenue that General Electric Co is counting on to help lift profits.
Imperial Brands is withdrawing from the premium cigar business to focus on vaping, with a 1.23 billion euro ($1.33 billion) sale of hand-rolled makes including Cohiba and Montecristo which will help it pay down debt.
Chinese e-commerce giant Alibaba Group Holding Ltd has demoted Jiang Fan, one of its most senior executives, after an internal investigation into allegations of improper behaviour, according to a person familiar with the matter.
Chinese e-commerce giant Alibaba Group Holding Ltd has demoted Jiang Fan, one of its most senior executives, after an internal investigation into allegations of improper behaviour, according to a person familiar with the matter. Alibaba removed Jiang, who oversaw the company’s main online shopping divisions, from a partnership of 38 people, which appoints some Alibaba board members. It also demoted him to group vice president from group senior vice president, said the person, who asked not to be identified discussing internal matters. …read more […]
Stock markets rallied on Monday as investors cheered news more countries were easing lockdowns and the Bank of Japan expanded stimulus to cushion the impact of the coronavirus, though the oil price took another tumble with storage running out.
U.S. banks were girding on Monday for another chaotic dash to grab $310 billion in fresh small business aid due to be released by the government on Monday, after it changed some of the rules of the first-come-first-served scheme at the 11th hour.
The Small Business Administration (SBA) on Monday will release $310 billion in funds for the second round of its program that aims to help small businesses hurt by the novel coronavirus disruption to cover their payroll costs.
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