Business & Finance News
World No. 1 oil producer Saudi Aramco has gained unconditional EU antitrust approval for its $69 billion bid for a 70% stake in petrochemicals group Saudi Basic Industries Corp (SABIC), according to an EU filing.
European airlines stepped up their warnings over the coronavirus outbreak on Friday, with British Airways-owner IAG and Finnair flagging a hit to profits and easyJet reporting a big drop in demand into and out of a virus-affected region in Italy.
Three former Barclays executives were acquitted in London on Friday of charges they helped funnel 322 million pounds ($418 million) in secret fees to Qatar in return for rescue financing during the credit crisis.
Switzerland on Friday banned large events expected to draw more than 1,000 people as an extraordinary measure to curb the new coronavirus epidemic, forcing cancellation of the Geneva car show next week.
British Airways-owner IAG said on Friday that coronavirus would hit its earnings this year but it wasn’t sure by how much, becoming the latest airline to warn about the impact of the rapidly evolving outbreak.
Coronavirus panic sent world share markets crashing again on Friday, compounding their worst week since the 2008 global financial crisis and bringing the wipeout in value terms to $5 trillion.
British budget airline easyJet said on Friday it would cancel flights and cut costs across its business after the coronavirus outbreak hit demand for travel to Italy and other European markets.
Malaysian long-haul budget airline AirAsia X said it will defer delivery of 78 Airbus SE A330neo planes and consider other changes to reduce its fleet, as the coronavirus outbreak adds pressure on the loss-making carrier.
Oil prices slumped to their lowest in more than a year on Friday and were set for their steepest weekly fall in more than four years as the spread of the coronavirus stokes fears of slowing global demand.
Hyundai’s hydrogen-powered 18-tonne trucks are set to hit the roads in Switzerland next month as the South Korean automaker looks to establish a case for its zero-emissions technology in a low carbon world.
Tokyo Disneyland will be closed from Saturday to March 15 due to concerns about coronavirus infections spreading in Japan, its operator said on Friday, leaving all of Walt Disney Co’s theme parks in Asia temporarily shut.
British Airways-owner IAG said coronavirus would hit earnings this year but the rapidly evolving nature of the outbreak means it cannot say by how much.
UBS Chief Executive Sergio Ermotti cashed in less money in 2019 as the bank made pay concessions related to a French tax case and missed earnings goals during his last full year as CEO.
Indonesia’s Lion Air has deferred plans for an initial public offering (IPO) due to a sharp fall in global stock markets, people close to the matter said on Friday, as the spreading coronavirus sparks worries of a global pandemic.
UBS Chief Executive Sergio Ermotti cashed in less money in 2019 as the bank made pay concessions related to a French tax case and missed earnings goals during his last full year as CEO.
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