Virgin Australia Holdings Ltd said on Tuesday it has entered voluntary administration to recapitalize the business and emerge in a stronger financial position after being battered by the coronavirus crisis and a high debt load.
Nissan Motor Co on Tuesday said that it would temporarily shut down operations at its global headquarters and other facilities in Japan through early May to contain the spread of the coronavirus at its sites.
The U.S. Congress on Monday inched toward a $450 billion deal to help small businesses and hospitals hurt by the coronavirus pandemic, with House Speaker Nancy Pelosi saying negotiators had come to terms on the ‘principles’ of the package as the Senate set a Tuesday session for a potential vote.
Oil prices rebounded on Tuesday, with U.S. crude turning positive after trading below $0 for the first time ever, but gains were capped amid unresolved concerns about how the market can cope with fuel demand decimated by the coronavirus pandemic.
U.S. House Speaker Nancy Pelosi said on Monday Republican and Democratic negotiators have come to terms on the “principles” of the next coronavirus relief package, which is expected to focus on more aid for small businesses and be taken up in the U.S. Congress this week.
The U.S. Treasury Department said on Monday it has disbursed $2.9 billion in initial payroll assistance to 54 smaller passenger carrier and two major passenger airlines, while it finalized grant agreements with six major airlines.
The price of a barrel of benchmark U.S. oil plunged below $0 a barrel on Monday for the first time in history, a troubling sign of an unprecedented global energy glut as the coronavirus pandemic halts travel and curbs economic activity.
Lord & Taylor is exploring filing for bankruptcy protection after it was forced to temporarily shut all of its 38 U.S. department stores in the wake of the coronavirus outbreak, people familiar with the matter said on Monday.
Asia shares were poised to track a Wall Street tumble on Tuesday after U.S. crude futures turned negative for the first time in history, crushed by a spectacular collapse in oil demand as the coronavirus pandemic derails the global economy.
Qualcomm (QCOM), the world’s largest mobile chipmaker, hasn’t had an easy ride in 2020. Of course, you can say that about an ever-growing number of companies, but the semiconductor giant’s large exposure to China and accompanied uncertainty concerning Apple’s 5G enabled phone launch, has seen it underperform its peer group.But according to Tigress Financial’s Ivan Feinseth, there’s no need to ring the alarm bells. In fact, the 5-star analyst argues, there are numerous short- and long-term drivers for Qualcomm, that its “leadership position in the global high-speed 5G network rollout will overcome any near-term COVID-19 pandemic-related weakness.” Accordingly, the 5-star …read more […]
A special committee of WeWork board members on Monday rejected an assertion by SoftBank Group Corp that it does not have authority to represent the interests of minority shareholders of the office-sharing startup.
Virgin Australia Holdings Ltd said on Tuesday it entered voluntary administration to recapitalise the business and emerge in a stronger financial position after being battered by the coronavirus crisis and a high debt load.
Brazil’s government is discussing with the country’s main airlines further reducing a minimal flight schedule implemented due to the coronavirus crisis as travel demand remains close to zero, three sources told Reuters.
U.S. crude oil jumped more than $20 per barrel on Tuesday but still traded below $0 after plunging into negative territory for the first time in history, dragged down by a supply glut and sagging demand for crude due to the coronavirus pandemic.
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