Business & Finance News
It may take European Union countries until the summer or even longer to agree on how exactly to finance an economic recovery from the coronavirus pandemic as major disagreements persist, an official with the bloc said on Wednesday.
AT&T Inc’s first-quarter revenue fell short of Wall Street expectations and the company pulled its annual forecast on Wednesday, as the impact of the coronavirus outbreak overshadowed a strong growth in monthly phone subscribers.
Shoved aside by the coronavirus pandemic, Brexit is set to work its way into the headlines again as a June deadline for extending Britain’s 11-month transition period turns currency traders’ focus – and selling pressure – back to the pound.
U.S. stock index futures rebounded on Wednesday as upbeat quarterly earnings reports lifted investor sentiment following a two-day selloff due to a record crash in oil prices, even as companies warned of more pain in the coming months.
EU antitrust regulators have resumed their investigation into Boeing’s bid to buy the jetmaking arm of Embraer , with a decision due by Aug. 7, a European Commission filing showed on Wednesday.
Finland’s Kone reported a 10% fall in first-quarter profit hurt by the coronavirus outbreak but beat forecasts and stuck with its recently adjusted 2020 outlook.
Stormy oil markets sent Brent prices crashing to their lowest since 1999 on Wednesday, though a stabilisation of some petrocurrencies and a bounce in European stocks gave investors something buoyant to cling to.
Equinor’s head of exploration, Tim Dodson, will step down at the end of May in a planned leadership change, the Norwegian oil and gas company said on Wednesday.
Oil slumped to less than $16 a barrel on Wednesday, hitting its lowest since 1999, with the market awash with excess supply as the economic fallout from the coronavirus pandemic continues to hammer demand for fuels.
A growing body of scientific research linking tyre wear to microplastic pollution, as well as increasing scrutiny from lawmakers in the European Union (EU), has led the $180 billion-a-year tyre industry to fight back.
Troubled fashion retailer Ted Baker on Wednesday named easyJet Chairman John Barton as its non-executive chairman, less than a month after appointing Rachel Osborne to the permanent role of chief executive officer.
Oil prices slumped again on Wednesday, with Brent falling to the lowest since 1999, as the market struggled with a massive crude glut amid a collapse in demand for everything from gasoline to jet fuel caused by the coronavirus outbreak.
Asian share markets were on the defensive on Wednesday as the floor fell out from under crude prices, sparking worries about further turmoil in the energy sector, already reeling from the heavy blow from global shutdowns.
Private equity and distressed situation specialists Apollo Global Management, Oaktree Capital Management and BGH Capital are among those that have expressed interest in restructuring Virgin Australia Holdings Ltd , five sources said.
Oil traders are struggling to find enough ships, railcars, caverns and pipelines to store fuel as more conventional storage facilities fill up amid abundant supply and plummeting demand due to the coronavirus crisis.
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