Business & Finance News
Global stock markets rose on Monday as investors cheered news that more countries and U.S. states were looking to ease lockdowns and the Bank of Japan expanded its stimulus program, while the price of oil continued to crumble as storage runs out.
Oil prices slumped again on Monday on concerns over scarce storage capacity, especially in the United States, and global economic doldrums from the coronavirus pandemic.
Warren Buffett’s Berkshire Hathaway Inc will hold a truncated virtual annual meeting on Saturday where its billionaire chairman will be present but his longtime Vice Chairman Charlie Munger will not.
German carmaking giant Volkswagen resumed production at its biggest factory on Monday as part of a broader industry drive to get back to work in Europe, where the coronavirus pandemic has hammered demand and pushed up inventory levels.
Imperial Brands is withdrawing from the premium cigar business to focus on vaping, with a 1.23 billion euro ($1.33 billion) sale of hand-rolled makes including Cohiba and Montecristo which will help it pay down debt.
Microsoft Corp on Monday said it had won a five-year deal with Coca-Cola Co to supply business software, including its Teams chat app and tools for customer service agents.
U.S. banks were girding on Monday for another chaotic dash to grab $310 billion in fresh small business aid due to be released by the government, after it changed some of the rules of the first-come-first-served program at the 11th hour.
U.S. President Donald Trump will meet with American textile industry representatives on Monday as clothiers seek to shift their production lines to face masks and other critical items amid the coronavirus outbreak, the White House said.
Wall Street was set to rise at the open on Monday as more states prepared to lift coronavirus-induced curbs and Boeing gained after pulling out of a deal to buy Embraer’s commercial jets division.
State-owned Thai Airways International Pcl will press on with a project to build a $339 million maintenance facility east of Bangkok after partner Airbus dropped out due to the coronavirus outbreak, a senior official said on Monday.
Brazil’s Embraer SA has already begun an arbitration process against Boeing Co , its CEO said on Monday, after the U.S. planemaker canceled a $4.2 billion deal overnight.
Oil prices slumped again on Monday on concerns over scarce storage capacity, especially in the United States, and global economic doldrums from the coronavirus pandemic.
EasyJet’s battle with its founder and biggest shareholder Stelios Haji-Ioannou will come to a head on May 22, when the results of an investor vote on the airline’s strategy to stick with a plan to buy more planes will be made public.
U.S. stock index futures rose on Monday as more states looked set to lift coronavirus-induced curbs, and investors awaited earnings reports from marquee companies including Apple and Microsoft due this week.
General Motors Co said on Monday the automaker has suspended its quarterly cash dividend on its common stock and its share buybacks to save cash in the face of the coronavirus crisis.
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