Business & Finance News
Shares of the top four U.S. airlines dropped on Monday after billionaire investor Warren Buffett’s Berkshire Hathaway said it offloaded its entire stake in the carriers last month, adding to the sense of crisis around the industry.
The French government has rejected Amazon ‘s request to tap a state partial unemployment scheme for employees at its six warehouses in the country, a spokeswoman for the labour ministry said on Monday.
Tyson Foods Inc said on Monday it would temporarily close plants as needed in the battle with the coronavirus outbreak and expects meat sales to fall in the second half of this year as shutdowns hammer restaurants and other food outlets.
Oil prices fell on Monday on worries that a global oil glut may persist even as coronavirus pandemic lockdowns start to ease and amid a fresh spat between the United States and China over the origin of the virus.
Oil executive Bill Kent was with fellow managers in the Colorado board room of Resource Energy headquarters on April 20 when benchmark U.S. crude prices collapsed to minus $37 a barrel. Sitting six feet apart because of the coronavirus, they knew the pandemic was not only a personal matter.
Tyson Foods Inc said on Monday it expects meat sales volume to fall in the second half of this year, as restaurants are being forced to operate at a limited capacity due to the COVID-19 pandemic.
Ferrari said on Monday it had cut its core profit estimates for the year to reflect the impact of the coronavirus crisis, expected to mainly affect second quarter results.
Texas auto dealer Hayden Elder says March was his worst month in 42 years selling cars thanks to the coronavirus, but April brought days that were “almost normal” and he expects bigger customer discounts to help him sell more Dodge Ram pickup trucks this month.
European stock markets and oil prices fell on Monday as a spat between top U.S. officials and China over the origin of the coronavirus fuelled fears of a new trade war, derailing a rebound in global markets.
After growing rapidly to become Europe’s third-largest low-cost airline and one of the few to apply the budget model to transatlantic flights, Norwegian Air is fighting for its survival after racking up debts and liabilities of close to $8 billion by the end of 2019.
Peugeot carmaker PSA , one of many car companies around the world to have been hit hard by the coronavirus, said on Monday that it would gradually restart production at sites over the course of this week.
Romanian carmaker Dacia, owned by France’s Renault and Ford Motor Co’s Craiova plant resumed operations on Monday after output was halted due to the coronavirus pandemic in March, they said.
Sad piano chords, somber shots of empty streets and close-ups of people staring out their windows. So prevalent were coronavirus-themed ads that followed a similar template just a few weeks ago, they were parodied in a YouTube compilation video: “Every COVID-19 Commercial is Exactly the Same.”
Walt Disney Co’s acquisitions spree that included swallowing much of Rupert Murdoch’s 21st Century Fox last year, and a reputation for operational excellence, turned the company into the world’s most powerful entertainment machine.
Factory activity was ravaged across the world in April, business surveys showed, and the outlook looked bleak as government lockdowns to contain the new coronavirus pandemic froze global production and slashed demand.
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