Business & Finance News
Abbott Laboratories beat quarterly profit estimates on Thursday as stay-at-home orders prompted customers to stockpile its nutrition products but the company suspended its full-year forecast due to the coronavirus-fueled uncertainty.
EasyJet can survive a nine-month shutdown thanks to its measures to contend with the coronavirus crisis and is planning for a slow recovery, the British airline said on Thursday.
The United States opposes creation of liquidity through issuance of the International Monetary Fund’s Special Drawing Rights (SDRs) as part of the response to the coronavirus pandemic, U.S. Treasury Secretary Steven Mnuchin said on Thursday.
Morgan Stanley posted a 32% fall in quarterly profit on Thursday as its advisory and wealth management businesses took a hit from the economic fallout of the COVID-19 pandemic.
Volkswagen Group on Thursday said that it was withdrawing its outlook for 2020 amid uncertainty related to the coronavirus outbreak which caused a fall in demand and group revenue to drop 8% in the first quarter of this year.
The ‘FREE NOW’ taxi ride-hailing service run by Daimler and BMW announced on Thursday a corporate restructuring, which could lead to job cuts, and unveiled plans to merge with French app Kapten.
As Wall Street stocks pause for breath following a blistering three-week surge, signals from the options market are suggesting that some investors believe the gains may endure.
Ford Motor Co said on Thursday that its China vehicle sales in the first three months this year fell 34.9% from a year earlier to 88,770 units, as the novel coronavirus epidemic hit demand in the world’s biggest auto market.
German carmakers including Volkswagen and Mercedes-Benz will restart production at some German factories next week after the country eased restrictions designed to contain the coronavirus outbreak.
Oil prices ticked up on Thursday after sharp losses in the previous session, with investors hoping that a big build-up in U.S. inventories may mean producers have little option but to deepen output cuts as the coronavirus pandemic ravages demand.
Abu Dhabi’s Etihad Airways has the full support of its state shareholder as it plans a partial resumption of passenger flights from May 1, its chief executive Tony Douglas said on Thursday.
Amazon has no clarity yet on when its warehouses in France might reopen, the head of its French business said on Thursday, after the e-commerce giant clashed with unions over the measures taken to limit the risks of coronavirus contagion.
Abu Dhabi’s Etihad Airways has the full support of its state shareholder, its chief executive said on Thursday as the airline announced a partial resumption of passenger flights from May 1.
Oil prices were broadly stable on Thursday after sharp losses in the previous session, with investors hoping that a big build-up in U.S. inventories may mean producers have little option but to deepen output cuts as the coronavirus pandemic ravages demand.
Sherborne Investors said on Thursday it would withhold its vote against Barclays Chief Executive Jes Staley in the lender’s upcoming general meeting, to prevent fresh boardroom turmoil as the bank grapples with the COVID 19 fallout.
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