Business & Finance News
Southwest Airlines Co said on Thursday it expects a hit of $200 million to $300 million to its first-quarter operating revenue from a fall in customer demand and an increase in trip cancellations due to the coronavirus outbreak.
Oil rose on Thursday after major producers agreed on deeper output cuts to bolster prices as worries intensify over the fast-spreading coronavirus outbreak and its impact on the global economy and crude consumption.
Britain “stands ready” to support regional airports after the collapse of airline Flybe on Thursday, Kelly Tolhurst, a junior minister with responsibility for aviation, told parliament.
Oil fell on Thursday as worries intensified over the fast-spreading coronavirus outbreak and OPEC ministers met in Vienna to seek Russian backing for deeper output cuts to bolster prices.
ProSiebenSat.1 Media has staked a $500 million bet on romance by buying dating U.S. app developer Meet Group Inc , but the deal proved to be a turn-off for investors who sent the German broadcaster’s shares down 10% to a decade low.
OPEC ministers are expected to approve on Thursday the outlines of a deal for a significant cut in oil production to shore up prices hammered by the coronavirus outbreak but they are still waiting for Russia to indicate whether it will back such a move.
European shares fell again on Thursday, taking their cue from U.S. equity futures, which implied a lower open for Wall Street as cases of the coronavirus surged in the U.S.
ProSiebenSat.1 Media has staked a $500 million bet on romance by buying dating U.S. app developer Meet Group Inc , but the deal proved to be a turn-off for investors who sent the German broadcaster’s shares down 10% to a decade low.
China’s top gas importer PetroChina has declared force majeure on natural gas imports, including on liquefied natural gas (LNG) shipments and on gas imported via pipelines, following the coronavirus outbreak, four industry sources told Reuters.
Finnair said on Thursday it had stepped up its efforts to achieve carbon neutrality by 2045 through a range of measures and would begin by halving its net emissions by 2025 from their 2019 level.
British regional airline Flybe collapsed on Thursday after a plunge in travel demand, making the long-struggling carrier one of the first big corporate casualties of the coronavirus outbreak.
Aviva shares jumped on Thursday as the life and general insurer posted a record profit in its first year under chief executive Maurice Tulloch, although he said coronavirus added uncertainty to the outlook.
India is planning to backstop its growing electronics sector by arranging to airlift components from China, three government officials said, as it tries to contain the fallout from the coronavirus crisis in China.
Airlines have been suspending flights or modifying services in response to the coronavirus outbreak.
British employee-owned retailer, the John Lewis Partnership, has launched a strategic review of its business after reporting a 23% fall in annual profit, a third straight decline, primarily reflecting a dire performance from its department stores arm.
Copyright 1997-2019 Wall Street Reporter / Octagon Media Corp.
