Thailand’s budget and full-service carriers are seeking soft-loans worth 25 billion baht ($770.65 million) from the government to support their businesses amid the coronavirus outbreak, an airline executive said on Friday.
Luxury brand Burberry will pay all its staff globally even if they are unable to work due to coronavirus crisis store or site closures, adding on Friday it will not tap a government support scheme in Britain.
Investors already braced for poor first-quarter earnings from major oil and gas companies next week will focus on how executives plan to save cash and whether they will cut dividends following the collapse in oil prices.
U.S. stock index futures gained on Friday with bargain hunters returning at the end of a tumultuous week marked by a record collapse in oil prices and growing evidence of the economic damage from the coronavirus pandemic.
Investors already braced for poor first-quarter earnings from major oil and gas companies next week will focus on how executives plan to save cash and whether they will cut dividends following the collapse in oil prices. The five biggest U.S. and European firms, known as the Oil Majors, have announced spending cuts averaging 23% in a rapid response to the precipitous fall in oil demand because of the coronavirus pandemic and a 65% slump in crude prices. With the rout likely to extend for months, the pressure on balance sheets remains extreme as very few parts of oil …read more […]
Top news and what to watch in the markets on Friday, April 24, 2020. …read more […]
Shopper Lexie Mayewski is having a hard time finding frozen french fries in Washington, D.C.-area supermarkets in the wake of coronavirus-fueled stockpiling.
A French court will on Friday decide whether to back Amazon’s appeal against an order to restrict the goods it can deliver, which led it to close its warehouses in France and left many small firms struggling to ship products.
Oil prices fell on Friday and headed for their third weekly loss running as production shutdowns failed to keep pace with sliding demand due to the coronavirus crisis.
(Bloomberg) — Franklin Templeton will wind up $4.1 billion of Indian debt funds after a liquidity crisis compelled the firm to freeze investor withdrawals, underscoring persistent stress in credit markets as the coronavirus pandemic wreaks havoc on the global economy.The asset manager’s surprise announcement late Thursday marked the biggest-ever forced closure of Indian funds and fueled worries of a renewed wave of withdrawals from similar products. Indian corporate bonds slumped on the news, while banks and fund managers paced declines in the country’s stock market.“There is fear in the minds of investors that other mutual funds may not be immune …read more […]
Global shares fell on Friday, spurred by delays to an agreement on divisive details of the European Union’s stimulus package and doubts about progress in the development of drugs to treat COVID-19.
Swiss food giant Nestle reported its best quarterly sales growth in nearly five years on Friday as consumers stockpiled everything from Purina pet food to Nescafe coffee to frozen meals to prepare for coronavirus lockdowns.
Virgin Australia Holdings Ltd owes A$6.9 billion ($4.39 billion) to more than 10,000 creditors based on an initial review and will seek a three-month payment waiver from aircraft lessors, its administrators said.
Two state-owned banks in South Korea said on Friday they would provide up to 1.2 trillion won ($971 million) in liquidity to support Korean Air Lines Co Ltd as the aviation industry reels from the coronavirus crisis.
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