Business & Finance News
The owner of British Airways, Iberia, Vueling and Aer Lingus must cut costs across the board to weather the coronavirus crisis as air travel won’t return to normal until at least 2023, its chief executive Willie Walsh said on Thursday.
The chief executive of British Airways-owner IAG Willie Walsh said on Thursday that his personal was that the airline group should continue to have a presence at London’s Gatwick Airport.
Qatar Airways is in talks with banks for loans worth billions of dollars, three sources familiar with the matter said, as the state-owned airline readies to begin rebuilding its network that has been crushed by the coronavirus pandemic.
Italy’s government will inject fresh capital worth at least 3 billion euros ($3.24 billion) in the ailing carrier Alitalia, which is being nationalised following financial problems, Industry Minister Stefano Patuanelli said on Thursday.
World shares climbed on Thursday after Chinese exports proved far stronger than even bulls had imagined, while bond investors were still daunted by the staggering amount of U.S. debt set to be sold and a tussle over ECB bond buying.
Swedish fashion retailer H&M said on Thursday its sales tumbled 57% from a year ago in local currencies during the March 1 to May 6 period as the novel coronavirus pandemic and restrictions to curb it kept most of its stores closed.
GlaxoSmithKline said on Thursday it sold its stake in Unilever’s Indian business for $3.35 billion, which Refinitiv says is the largest block trade ever to have been carried out in India.
Anheuser-Busch InBev , the world’s largest beer maker, forecast a “materially worse” second quarter as coronavirus restrictions curb drinking across the globe, although China was showing early signs of recovery.
World food prices fell for a third consecutive month in April, hit by the economic and logistical impact of the coronavirus pandemic, the United Nations food agency said on Thursday.
French media conglomerate Vivendi has increased its stake in Lagardere to 13.36% from 10.6%, an AMF regulatory filing published on Thursday showed.
Norwegian Air has secured vital funding from shareholders as it battles to survive the novel coronavirus pandemic that drove down April passenger volumes by 98.7%, the budget carrier said on Thursday.
Japan’s Nintendo Co Ltd said on Thursday its fourth-quarter profit soared 200% due to surging demand for its Switch games console, and that title Animal Crossing: New Horizons shifted a record 13.4 million units in its first six weeks.
Climate activists from the Extinction Rebellion group sprayed “fake oil” onto the Barclays headquarters in London’s Canary Wharf on Thursday, calling on the bank to divest from fossil fuels.
Liberty Global Plc and Telefonica SA have agreed to merge their British businesses in a $38 billion deal including debt that will step up the challenge to market leader BT in mobile and broadband.
British aero-engine maker Rolls-Royce signalled on Thursday it expects to cut some of its workforce, after reports that it was considering cutting up to 8,000 jobs to weather a global aerospace sector slump.
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