Business & Finance News
Planemakers Airbus and Boeing have asked Air France to delay taking some wide-body jets after a slowdown in manufacturing caused by the coronavirus crisis, the head of parent Air France-KLM told Reuters.
Asian shares pared early losses on Thursday after Chinese exports proved far stronger than even bulls had imagined, while U.S. bond investors were still daunted by the staggering amount of new debt set to be sold in coming weeks.
Anheuser-Busch InBev , the world’s largest beer maker, reported a decline in profit in the first quarter as coronavirus restrictions curbed drinking and said the second quarter would be “materially worse”.
Air France-KLM is opening talks with its French unions on workforce cuts, Chief Executive Ben Smith told Reuters, as the airline group warned of mounting losses with no clear end in sight to the coronavirus crisis.
Two weeks of coronavirus shutdown were enough to hit Air France-KLM with an 815 million-euro ($880 million) first-quarter operating loss, the airline group said on Thursday – predicting demand could take “several years” to recover.
Millions more Americans likely sought unemployment benefits last week, suggesting a broadening of layoffs from consumer facing industries to other segments of the economy and could remain elevated even as many parts of the country start to reopen.
Samsung Group heir Jay Y. Lee’s vow to end dynastic succession at South Korea’s biggest conglomerate following three generations of Lee family control sparked skepticism on Thursday.
Asian shares pared early losses on Thursday after Chinese exports proved far stronger than even bulls had imagined, while U.S. bond investors were still daunted by the staggering amount of new debt set to be sold in coming weeks.
The British units of Liberty Global Plc and Telefónica SA will merge in a deal worth 24 billion pounds ($29.57 billion), the Financial Times reported https://www.ft.com/content/2b73a385-7218-47dc-83bf-18e6e3d5f8f4 on Thursday.
Smithfield Foods Inc will restart its plant in Sioux Falls, South Dakota from May 7 after being idled for more than three weeks due to the coronavirus outbreak, the world’s biggest pork processor said late on Wednesday.
U.S. budget carrier Frontier Airlines withdrew on Wednesday a “More Room” policy that would have given passengers the option of paying extra to keep the middle seat empty on flights after a backlash from politicians, according to a letter to lawmakers seen by Reuters.
U.S. automaker Ford Motor Co’s two ventures in China have reported year-on-year sales growth for April, indicating the world’s biggest auto market has started its recovery from coronavirus-induced lows.
The United States has reached a settlement to recover more than $49 million involving Malaysian sovereign wealth fund 1MDB, the Department of Justice said.
Sinclair Broadcast Group has agreed to pay a $48 million fine to the Federal Communications Commission (FCC) resolving the probe into the company’s abandoned deal to buy Tribune Media in what the agency said was its largest-ever civil penalty.
Asian stocks were set to come under pressure on Thursday as downbeat economic data pushed investors to safe havens and growing worries about falling demand sent oil prices lower.
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