Delta Air Lines posted a $607 million loss in the first quarter as the COVID-19 crisis forced the airline to cut up to 85% of its scheduled flights. …read more […]
It may take European Union countries until the summer or even longer to agree on how exactly to finance an economic recovery from the coronavirus pandemic as major disagreements persist, an official with the bloc said on Wednesday.
AT&T Inc’s first-quarter revenue fell short of Wall Street expectations and the company pulled its annual forecast on Wednesday, as the impact of the coronavirus outbreak overshadowed a strong growth in monthly phone subscribers.
Advertising sales, which was severely hit due to the postponement of live sports such as March Madness, and lower wireless equipment sales led to a $600 million decline in revenue, AT&T reported. In the first three months of the year, AT&T added 163,000 net new monthly phone subscribers, beating the average Wall Street estimate of 90,700. AT&T was able to earn more customers despite shutting down more than 40% of its retail stores. …read more […]
Shoved aside by the coronavirus pandemic, Brexit is set to work its way into the headlines again as a June deadline for extending Britain’s 11-month transition period turns currency traders’ focus – and selling pressure – back to the pound.
U.S. stock index futures rebounded on Wednesday as upbeat quarterly earnings reports lifted investor sentiment following a two-day selloff due to a record crash in oil prices, even as companies warned of more pain in the coming months.
(Bloomberg) — U.S. equity futures advanced with European stocks on Wednesday as investors weathered continued volatility in energy markets and perused earnings reports that weren’t uniformly negative. Oil pared a decline, while gold jumped.S&P 500 Index contracts climbed after the gauge closed down more than 3% a day earlier, when investors shrugged off progress of a fresh relief package to counter the economic hit from the coronavirus. The Stoxx Europe 600 Index advanced in the wake of Tuesday’s slump, with all 19 sectors in the green including energy shares.Brent crude pared most of a tumble that reached 17% earlier, while …read more […]
Top news and what to watch in the markets on Wednesday, April 22, 2020. …read more […]
(Bloomberg) — Huawei Technologies Co. is emerging as the runaway winner in China’s $170 billion effort to build out its fifth-generation wireless networks, part of a concerted effort by Beijing to seize the lead in a key technology from the U.S. while rebooting a virus-stricken economy.Since the beginning of the year, Huawei has secured 28.4 billion yuan ($4 billion) worth of 5G equipment orders from the country’s largest carrier, China Mobile Ltd., beating out competitors like Ericsson AB and ZTE Corp. to win more than half of the 5G contracts awarded by the operator during the period, according to an …read more […]
EU antitrust regulators have resumed their investigation into Boeing’s bid to buy the jetmaking arm of Embraer , with a decision due by Aug. 7, a European Commission filing showed on Wednesday.
EU antitrust regulators have resumed their investigation into Boeing’s bid to buy the jetmaking arm of Embraer , with a decision due by Aug. 7, a European Commission filing showed on Wednesday. The EU competition enforcer in October last year expressed concerns about the $4.2 billion deal, saying it would remove Embraer as the third largest global competitor in the highly concentrated commercial aircraft industry, especially in single-aisle commercial planes. Embraer’s commercial unit builds jetliners in the 70- to 150-seat segment and competes with the Canadian-designed A220 programme recently acquired by Europe’s Airbus . …read more […]
Finland’s Kone reported a 10% fall in first-quarter profit hurt by the coronavirus outbreak but beat forecasts and stuck with its recently adjusted 2020 outlook.
Stormy oil markets sent Brent prices crashing to their lowest since 1999 on Wednesday, though a stabilisation of some petrocurrencies and a bounce in European stocks gave investors something buoyant to cling to.
Equinor’s head of exploration, Tim Dodson, will step down at the end of May in a planned leadership change, the Norwegian oil and gas company said on Wednesday.
Oil slumped to less than $16 a barrel on Wednesday, hitting its lowest since 1999, with the market awash with excess supply as the economic fallout from the coronavirus pandemic continues to hammer demand for fuels.
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