Business & Finance News
AT&T Inc said on Tuesday it was shutting its DirecTV subscription access to Venezuela due to U.S. sanctions, cutting off a key source of entertainment for millions of people stuck in their homes under a strict coronavirus quarantine.
Harley-Davidson Inc is reopening its factories this week at lower production rates and sending dealers a narrower range of motorcycles, the Wall Street Journal reported on Wednesday.
Lowe’s Cos Inc reported its biggest rise in quarterly same-store sales in at least 15 years on Wednesday, as people spent more on tools and paint for do-it-yourself projects and home repairs during the coronanvirus lockdowns.
Deutsche Bank’s chairman Paul Achleitner said he intends to step down as chairman of the German lender when his term ends in 2022.
French carmaker Renault will re-open its Normandy-based Sandouville plant in northwestern France on Friday, a trade union source told Reuters on Wednesday.
U.S. stock index futures climbed on Wednesday as investors clung to hopes of a recovery from a looming coronavirus-fuelled recession amid signs of more central bank and government stimulus for ailing sectors.
Target Corp reported a 64% plunge in quarterly profit on Wednesday, pummeled by costs to tackle the coronavirus outbreak, even as panic-buying during the crisis lifted the big-box retailer’s online and store sales.
Lowe’s Cos Inc beat quarterly estimates for same-store sales on Wednesday, as coronavirus lockdowns led people to spend more on tools and paint for home remodeling and repairs, sending shares of the home improvement chain up 8%.
The reasons behind the proposed merger of car makers Fiat Chrysler and Peugeot-owner PSA are “stronger than ever” as the COVID-19 pandemic adds to existing challenges facing the industry, the FCA chairman said on Wednesday.
Home improvement retailer Lowe’s Cos Inc reported an 11.2% rise in quarterly same-store sales on Wednesday, as coronavirus lockdowns led people to spend more on tools and paint for home remodelling and repairs.
Deutsche Bank’s CEO said the bank needed to become more profitable before taking a leading role in European banking consolidation and dismissed concerns it would need state aid as it handles the fallout of the coronavirus outbreak.
Oil prices firmed on Wednesday on signs of improving demand and a drawdown in U.S. crude inventories, but worries over the economic fallout from the coronavirus pandemic and weak refining margins capped gains.
Rolls-Royce plans to cut at least 9,000 jobs, or more than a sixth of its workforce, in the latest blows to the UK economy and aviation industry dealt by the coronavirus pandemic.
A 2019 move by the Dutch government to buy a 14% stake in Air France-KLM was not in accordance with the country’s laws, the Netherlands’ Court of Audit ruled on Wednesday.
Lessors including China’s BOC Aviation are now the biggest shareholders in Norwegian Air after the budget carrier completed a debt restructuring and secured a long-sought credit guarantee from Norway’s government.
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