China’s Alibaba Group Holding Ltd reported a better-than-expected quarterly revenue on Friday, as the COVID-19 lockdowns drove more people to shop online for essentials.
With Facebook’s adoption of permanent remote work on Thursday, Chief Executive Mark Zuckerberg has untethered one of Silicon Valley’s biggest companies from the place that incubated it.
EasyJet said founder Stelios Haji-Ioannou had failed in his attempt to oust key management including the CEO, according to the initial results of a shareholder vote brought over the airline’s plan to buy new Airbus planes.
It has been anything but smooth sailing for the cruise industry. The COVID-19 pandemic and the widespread travel restrictions have caused sailings to be suspended, sending shares to record lows. To survive, cruise operators have gone into cash preservation mode, entering into liquidity enhancing credit agreements. Against this backdrop, investors are hardly lining up to pull the trigger on names within this area of the market. However, five-star analyst Benjamin Chaiken, of Credit Suisse, has a more optimistic view of the industry. He acknowledges that “COVID -19 may be the toughest challenge the industry has ever faced”, with it …read more […]
Deere & Co topped quarterly estimates for profit on Friday as demand for farm equipment fell less than feared and the company kept a tight lid on costs.
Europe’s car industry was put on alert for more job losses on Friday as a French minister warned Renault could disappear if it didn’t get help soon and a Japanese news report said partner Nissan was considering 20,000 layoffs, with many in Europe.
U.S. stock index futures retreated on Friday as growing tensions between Washington and Beijing added to fears of a slower recovery from a coronavirus-led recession.
World stocks took a hit and the Chinese yuan weakened on Friday as Beijing moved to impose a new security law on Hong Kong after last year’s pro-democracy unrest, further straining fast-deteriorating U.S.-China ties.
Geopolitical rivalries, as well as practical considerations, are emerging as real hurdles in the race for a COVID treatment. …read more […]
Germany’s airline cabin crew union called on Friday for Berlin to include measures to safeguard jobs in the bailout package which is being finalised for airline Lufthansa .
Top news and what to watch in the markets on Friday, May 22, 2020. …read more […]
Royalties from oil pumped on Paul Ruckman’s land allowed the South Texas retiree to build a six-bedroom, seven-bathroom vacation home. He had plenty left over, and donated some of it to Helena, Texas, an 1800s ghost town that draws hundreds to historic buildings and gunfight re-enactments.
EasyJet said founder Stelios Haji-Ioannou had failed in his attempt to oust key management including the CEO, according to the initial results of a shareholder vote brought over the airline’s plan to buy new planes.
China’s Geely will explore the possibility of deeper cooperation with German luxury automaker Daimler AG , its Chairman Li Shufu said on Friday.
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