Business & Finance News
Germany has agreed in principle to support struggling carrier Condor with emergency liquidity after the owner of Poland’s national airline LOT pulled out of a deal to buy the airline, two people close to the matter said on Monday.
Virgin Atlantic will only survive the coronavirus outbreak if it gets financial support from the British government, the airline’s founder Richard Branson said on Monday.
Virgin Australia Holdings is poised to enter voluntary administration, local media reported on Monday, with the cash-strapped airline unable to weather the coronavirus crisis because of its A$5 billion ($3.2 billion) of debt.
Oil prices fell on Monday, depressed by concerns U.S. storage facilities will soon be full as the novel coronavirus pandemic destroys demand and as companies prepare to report their worst quarterly earnings since the 2008 financial crisis.
Caution recaptured world markets on Monday as another drubbing for U.S. crude oil futures kicked off a week of data and earnings that will drive home the damage being inflicted by global coronavirus lockdowns.
Danske Bank’s board of director will propose that no dividends be paid for 2019, it said in a statement on Monday.
Fashion retailer Primark has committed to pay suppliers for 370 million pounds ($461 million) of orders, though all its stores are closed due to the coronavirus pandemic.
Volkswagen has reached settlements with 200,000 of the 260,000 claimants participating in a class action lawsuit brought by German consumer group VZBV over the carmaker’s rigging of diesel emissions tests, the carmaker said on Monday.
Aston Martin’s immediate priorities will be restarting manufacturing and launching production of its crucial first sport utility vehicle, the luxury carmaker’s new boss, Formula 1 team owner Lawrence Stroll, said on Monday.
Virgin Australia Holdings is preparing to enter voluntary administration, the Sydney Morning Herald reported on Monday, citing unnamed sources, with the cash-strapped carrier unable to weather the coronavirus crisis because of its debt.
Shake Shack Inc will return the small business loan it received from the U.S. government, the burger chain’s chief executive said on Monday, making it the first major firm to hand back money aimed at helping small businesses ride out the coronavirus impact.
Aston Martin’s immediate priorities will be restarting manufacturing and launching production of its crucial first sport utility vehicle, its new boss, Canadian businessman and Formula 1 team owner Lawrence Stroll, said on Monday.
Crude oil futures fell on Monday, with U.S. futures dropping more than 10% to levels unseen since 1999 amid concerns that U.S. storage facilities will soon be brimful with demand evaporating due to the coronavirus pandemic.
Caution gripped Asian share markets on Monday amid expectations a busy week of corporate earnings reports and economic data will drive home the damage done by the global virus lockdowns, while a glut of supply sent U.S. crude spiraling to 20-year lows.
Oakley and Ray-Ban maker EssilorLuxottica said on Monday it would scrap its dividend and might also consider cost cuts as the coronavirus pandemic chokes its business.
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