Business & Finance News
Latin American airlines need prompt government aid or many of them could go out of business as the global coronavirus outbreak forces widespread flight cancellations, the chief of regional airline association ALTA said on Tuesday.
Exxon Mobil Corp paid a big premium to raise $8.5 billion in new debt on Tuesday, as a rout in energy prices and stock market jitters fueled by the coronavirus outbreak eroded investor confidence in the largest U.S. oil producer.
SoftBank Group Corp is considering pulling out of a $3 billion bid to buy additional shares in WeWork, because it feels the office-space sharing firm has not met the conditions for the deal, people familiar with the matter said on Tuesday.
Tesla Inc cannot operate its main U.S. vehicle factory normally as the San Francisco Bay Area has begun a three-week lockdown to rein in the spread of coronavirus, a spokesman for the county’s sheriff’s office said on Tuesday.
Credit Suisse sharply lowered its forecast for Mexico’s economic performance this year and now expects a 4.0% contraction, according to a note sent to the bank’s clients on Tuesday, adding to a series of downgrades since the coronavirus spread.
Shares in Japanese company Fujifilm Holdings Corp were untraded due to a glut of buy orders after Kyodo news agency reported on Wednesday that China said the company’s Avigan drug works against coronavirus.
Boeing Co on Tuesday called for a $60 billion lifeline for the struggling U.S. aerospace manufacturing industry, which faces huge losses from the coronavirus pandemic.
Amazon.com Inc will only receive vital supplies at its U.S. and UK and other European warehouses until April 5, its latest move to free up inventory space for medical and household goods in high demand as a result of the coronavirus outbreak.
U.S. package delivery company FedEx Corp suspended its 2020 profit outlook on Tuesday, citing the “significant impact” of the coronavirus, and said it would cut costs due to the uncertainty wrought by the pandemic.
H&M is temporarily closing all its 460 stores in Germany, its number one market for sales, and all 590 in its second largest market the United States, due to the coronavirus outbreak.
British supermarket group Sainsbury’s is to restrict customer purchases to combat panic buying, close its in-store cafes and counters and beef-up online services to get it through the coronavirus crisis, it said on Wednesday.
Credit Suisse sharply lowered its forecast for Mexico’s economic performance this year and now expects a 4.0% contraction, citing “significant downside risks,” according to a note sent to the bank’s clients on Tuesday.
German sportswear maker Adidas on Tuesday joined rivals in announcing store closures in response to the coronavirus pandemic.
Delta Air Lines has received over 4,500 requests from flight attendants for voluntary unpaid leave in April, according to a March 14 paper seen by Reuters.
Credit Suisse sharply lowered its forecast for Mexican economic growth this year and now expects a 4.0% contraction, citing “significant downside risks,” according to a note sent to the bank’s clients on Tuesday.
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