Business & Finance News
UBS senior executives will contribute 50% of their fixed salaries over the next six months to efforts to fight the new coronavirus epidemic, Chief Executive Sergio Ermotti said on Bloomberg TV on Thursday.
Virgin Australia Holdings Ltd said on Thursday it would ground all domestic flights, except a single daily Sydney-Melbourne service through June 15, as it continues to seek government aid to weather the coronavirus crisis.
OPEC and Russia will debate record oil output cuts on Thursday to prop up prices wrought by the coronavirus pandemic but their talks are complicated by internal disagreements and the reluctance of the United States to join the action.
Global shares rose on Thursday on hopes the COVID-19 pandemic was nearing a peak and that governments would roll out more stimulus to support their economies, while expectations of a deal to cut oil production bolstered crude prices.
Swiss banks UBS and Credit Suisse will postpone paying out part of their 2019 dividends until later this year after mounting pressure from authorities over lenders’ payouts during the coronavirus epidemic.
Virgin Australia Holdings Ltd said on Thursday it would ground all domestic flights, except a single daily Sydney-Melbourne service through June 15, as it continues to seek government aid to weather the coronavirus crisis.
Nissan Motor has requested a 500 billion yen ($4.6 billion) commitment line from major lenders after sales were battered by the coronavirus outbreak, two people with knowledge of the matter told Reuters on Thursday.
Asian shares rose on Thursday on hopes the COVID-19 pandemic is nearing a peak and that governments would roll out more stimulus measures to support their economies, while expectations of a deal to cut oil production bolstered crude prices.
Nissan Motor has requested a 500 billion yen ($4.6 billion) commitment line from major lenders after sales were battered by the coronavirus outbreak, the Nikkei business daily reported on Thursday.
From Rupert Murdoch’s News UK to McClatchy’s chain of local newspapers across the United States, news publishers are attracting record numbers of readers as people in lockdown seek information about the coronavirus pandemic.
Oil prices rose on Thursday on expectations the world’s largest oil producers would agree to cut production at a meeting later in the day as the industry grapples with a coronavirus-driven collapse in global oil demand.
A California retail developer claims the state’s coronavirus lockdown was an act of God that prevented it from completing a $4.2 million property acquisition, asking a court to prevent owner Exxon Mobil Corp from selling to any other buyers.
The number of Americans seeking unemployment benefits in the last three weeks likely totaled a staggering 15 million as tough measures to control the novel coronavirus outbreak abruptly ground the country to halt, which would cement views the economy was in deep recession.
Switzerland’s two big banks, UBS and Credit Suisse , said they decided to pay out part of their dividend for 2019 later this year after financial markets watchdog FINMA had criticised their decision to maintain a full payout during the coronavirus crisis.
Swiss financial watchdog Finma said on Thursday it welcomed a decision by UBS and Credit Suisse to pay out half of their dividends for 2019 in the fourth quarter of 2020 despite their strong capital decisions.
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