Business News
Norwegian Air shares drop 60% after proposed debt-for-equity swap
The share price of Norwegian Air fell by 60% on Tuesday, the first day of trading following the company’s proposal of a financial rescue package on April 8.
Year: 2020
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Norwegian Air shares plummet 60% after proposed rescue plan
The shares of Norwegian Air plunged by more than 60% on Tuesday as they resumed trade after the airline proposed a financial rescue package on April 8 that would significantly dilute existing equity. Special observation is used under circumstances that may make the valuation of a security particularly uncertain, according to the market operator’s guidelines. …read more […]
Business News
Oil rises on forecast U.S. output drop as coronavirus ravages demand
Oil prices rose around 1% on Tuesday after the U.S. Energy Information Administration (EIA) predicted shale output in the world’s biggest crude producer would fall by a record amount in April, adding to cuts from other major producers.
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Roku Shares Jump on Preliminary Q1 Earnings, Surge In New Subscribers
Streaming platform Roku (ROKU) has now updated its Q1:20 guidance, revealing that in late Q1 the “shelter at home” regulation resulted in an acceleration in account growth and an increase in viewing. Shares in ROKU rose 4.4% in Monday’s trading, while the S&P 500 dropped 1%.Specifically, Roku estimates Q1 Active Accounts at 39.8 million (up 37% year-over-year vs. 36% in Q4) implying roughly 3 million net additions, with Q1 streaming hours at 13.2 billion (up 49% Y/Y vs. 60% in Q1).The company also withdrew its FY20 guidance on April 13, citing broader business and macro uncertainties arising from the COVID-19.“We …read more […]
Business News
British clothing retailer Next reopens online business
British clothing retailer Next will reopen its online business having implemented additional safety measures to cope with the coronavirus emergency, it said on Tuesday.
Business News
Asia shares hit one-month high on Chinese trade data, easing pandemic worries
Asian equities extended gains on Tuesday after China’s trade data came in better than expected and as some nations tried to restart their economy by partly lifting restrictions aimed at containing the coronavirus outbreak.
Business News
SoftBank record loss estimate renews asset sale focus
SoftBank Group Corp’s estimate it will post a record $13 billion full-year loss, dragged down by its spluttering $100 billion Vision Fund, has renewed attention on a planned asset sell-down aimed at raising cash and restoring confidence.
Business News
Car parts group Valeo drops 2020 targets, gets 1 billion euros of new credit lines
French car parts group Valeo abandoned its 2020 financial targets on Tuesday because of the hit to its business from the coronavirus outbreak, although it got 1 billion euros ($1.1 billion) in extra credit lines to shore up its finances.
Business News
British clothing retailer Next to reopen online business
British clothing retailer Next said on Tuesday it would reopen its online business having implemented “very extensive” additional safety measures to cope with the coronavirus emergency.
Business News
Administrators of NMC Health revamp company’s board
The administrators of troubled hospital operator NMC Health have announced a new board for the London-listed company that brings in four new non-executive directors with international restructuring experience.
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U.S. Stock Index Futures Rise as Countries Look at Reopening
(Bloomberg) — U.S. stock index futures gained as countries across the globe weighed when it would be safe to ease restrictions set in place to help contain the spread of coronavirus.Contracts on the S&P 500 gained 1.6% as of 6:51 a.m. in London, after declining 0.7% on Monday. Futures advanced 1.7% on the Nasdaq 100 Index and climbed 1.6% on the Dow Jones Industrial Average. President Donald Trump declared he has “total” authority to order states to relax social distancing to combat the coronavirus outbreak and reopen their economies.U.S. stock futures got a boost during Asian trading hours after data …read more […]
Business News
Renault sells its stake in Chinese joint venture to partner Dongfeng Motor
French carmaker Renault said on Tuesday it was selling out of its stake in a Chinese joint venture with Dongfeng Motor Corporation to Dongfeng, which Renault said would help it maximise synergies with Japanese partner Nissan .
Business News
Julius Baer to postpone AGM, propose split dividend
Swiss wealth manager Julius Baer will propose splitting its 2019 dividend payment into two halves following a regulatory request, it said on Tuesday, postponing by a month its annual general meeting in order to meet notification requirements.
Business News
Apple shipped 2.5 million iPhones in China in March following virus slump: government data
Apple Inc shipped roughly 2.5 million iPhones in China in March, a slight rebound after one of its worst months in the country ever, according to government data published on Friday.
Business News
Oil rises amid hopes for quick decline in U.S. shale output
Oil prices rose more than 1% on Tuesday after the main U.S. energy forecasting agency predicted shale output in the world’s biggest crude producer would fall by the most on record in April, adding to cuts from other major producers.