Hundreds of members of the U.S. House of Representatives will gather in Washington on Thursday to pass a $484 billion coronavirus relief bill, bringing the unprecedented total of funds approved for the crisis to nearly $3 trillion.
(Bloomberg) — Credit Suisse Group AG was stung by the collapse of Luckin Coffee Inc. in China following an accounting scandal, which led to a five-fold increase in Asian loan-loss provisions.The Swiss bank set aside 97 million Swiss francs ($100 million) for soured loans, primarily related to three cases, the largest of which was Luckin Coffee, according to a person familiar with the matter. The bank only referred to a “Chinese food and beverage company” in its earnings statement Thursday.Credit Suisse led the initial public offering for Luckin in New York last year and is among the biggest creditors on …read more […]
UniCredit has appointed Jana Hecker, formerly at Deutsche Bank, as its global head of equity capital markets (ECM), Italy’s biggest bank said on Thursday.
Fiat Chrysler (FCA) aims to restart van production at its Atessa joint venture plant in central Italy at 70% of the normal rate, a union representative told Reuters on Thursday.
Angie Bullman plans to reopen her suburban Atlanta hair salon on Friday after closing a month ago to comply with state orders. She and her co-owner husband, also a stylist, are already fully booked for the weekend.
Middle East governments are failing to take the action required to protect their airlines from the economic crisis caused by the new coronavirus pandemic, the International Air Transport Association (IATA) said on Thursday.
German car and truck maker Daimler reported a plunge of nearly 70% in first-quarter operating profit on Thursday due to the coronavirus pandemic and warned that the cash flow it uses to pay dividends would fall this year.
Top news and what to watch in the markets on Thursday, April 23, 2020. …read more […]
The International Air Transport Association’s vice president for the Middle East said on Thursday that the industry body was not satisfied with regional government’s efforts to support their airlines.
Italian digital services company Triboo said on Thursday it had started selling antibody tests for Covid-19 produced by China’s SOBC Outdo Biotech, as Italy draws closer to easing the lockdown measures imposed to tackle the coronavirus outbreak.
German sportswear firm Adidas plans a multi-billion euro bond so that it no longer needs the state-backed loan it agreed to take earlier this month to help it get through the coronavirus crisis, Manager Magazine reported on Thursday.
South Korea’s Hyundai Motor Co said on Thursday it expects only a modest recovery in Chinese auto demand and weak sales elsewhere this year after the coronavirus pandemic caused first-quarter vehicle sales to tumble 18%.
Ryanair must indicate the full price of the ticket when it displays offers on its website, the EU’s top court said on Thursday.
Oil rose on Thursday, spurred by rising tensions in the Middle East, output cuts by producing nations to tackle oversupply and the promise of more government stimulus to ease the economic pain of the new coronavirus pandemic.
German sportswear firm Adidas plans a multi-billion euro bond so that it no longer needs the government-backed loan it agreed earlier this month to help it get through the coronavirus crisis, Manager Magazine reported on Thursday.
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