Germany has agreed in principle to support struggling carrier Condor with emergency liquidity after the owner of Poland’s national airline LOT pulled out of a deal to buy the airline, two people close to the matter said on Monday.
Virgin Atlantic will only survive the coronavirus outbreak if it gets financial support from the British government, the airline’s founder Richard Branson said on Monday.
Koninklijke Philips (PHG) on Monday withdrew its outlook for this year, as the Dutch health technology company saw its first-quarter earnings hit hard by the impact of the global coronavirus outbreak.Looking ahead Philips is warning investors that the second quarter is poised to be even worse. In the first quarter, net income slumped to 39 million euros ($42.4 million) from 162 million euros during the same period last year. Earnings before interest, taxes and amortization (EBITA) dropped 33% to 244 million euros ($265 million), while comparable sales declined 2% to 4.15 billion euros.“The impact of COVID-19 gradually increased in the …read more […]
Virgin Australia Holdings is poised to enter voluntary administration, local media reported on Monday, with the cash-strapped airline unable to weather the coronavirus crisis because of its A$5 billion ($3.2 billion) of debt.
Oil prices fell on Monday, depressed by concerns U.S. storage facilities will soon be full as the novel coronavirus pandemic destroys demand and as companies prepare to report their worst quarterly earnings since the 2008 financial crisis.
Caution recaptured world markets on Monday as another drubbing for U.S. crude oil futures kicked off a week of data and earnings that will drive home the damage being inflicted by global coronavirus lockdowns.
Danske Bank’s board of director will propose that no dividends be paid for 2019, it said in a statement on Monday.
Fashion retailer Primark has committed to pay suppliers for 370 million pounds ($461 million) of orders, though all its stores are closed due to the coronavirus pandemic.
Apr.20 — Freddie Lait, chief investment officer at Latitude Investment Management, discusses the rally in U.S. markets and where he sees them heading. He speaks on “Bloomberg Markets: European Open.” …read more […]
Apr.20 — Miles Shipside, commercial director at Rightmove Plc, discusses the coronavirus impact on U.K. house prices. He speaks on “Bloomberg Markets: European Open.” …read more […]
Volkswagen has reached settlements with 200,000 of the 260,000 claimants participating in a class action lawsuit brought by German consumer group VZBV over the carmaker’s rigging of diesel emissions tests, the carmaker said on Monday.
Aston Martin’s immediate priorities will be restarting manufacturing and launching production of its crucial first sport utility vehicle, the luxury carmaker’s new boss, Formula 1 team owner Lawrence Stroll, said on Monday.
Apr.20 — Shake Shack, the U.S.-based burger chain, will return its entire $10 million loan from the U.S. government, the company’s leaders said in a statement, amid widespread criticism over who got access to the funds aimed at saving small businesses before they were depleted. Dani Burger reports on the challenges facing SMEs across the globe amid the fallout from the coronavirus pandemic. She speaks on “Bloomberg Markets: European Open.” …read more […]
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