Business & Finance News
Ryanair boss Michael O’Leary said he believed Britain’s coronavirus quarantine will be struck down by the courts or dropped within weeks as some of Europe’s biggest airlines prepare to file a legal challenge by the end of Tuesday.
Wall Street’s major indexes rose on Monday, building on last week’s sharp gains after a surprisingly upbeat jobs report raised bets of a swift recovery from a coronavirus-driven downturn.
Austria has agreed to a smaller than expected bailout package for Lufthansa unit Austrian Airlines of 450 million euros ($508 million) in loans and grants, people familiar with the matter said on Monday.
Shares of Gilead Sciences Inc rose as much as 3% on Monday after a report said the U.S. drugmaker had been approached by Britain’s AstraZeneca for a possible merger to form one of the world’s largest drug companies.
British buinesswoman Amanda Staveley’s private equity firm told London’s High Court on Monday it had received a “substantially worse” deal than Qatar when its syndicate invested billions of pounds in Barclays during the financial crisis in 2008.
Wall Street’s main indexes opened higher on Monday, building on last week’s rally after a surprise rebound in jobs bolstered views that the U.S. economy has weathered the worst of the economic fallout from the COVID-19 pandemic.
The United Kingdom’s coronavirus quarantine will be struck down by the courts or dropped within weeks as some of Europe’s biggest airlines prepare to file a legal challenge by the end of Tuesday, Ryanair boss Michael O’Leary told Reuters.
Volkswagen’s supervisory board will discuss the leadership of the company’s core VW brand at an extraordinary meeting due to be held on Monday, sources familiar with the discussions told Reuters.
The S&P 500 and the Dow Jones indexes were set to rise on Monday, building on last week’s sharp gains after a surprise rebound in jobs strengthened views that the U.S. economy has weathered the worst of the economic fallout from the COVID-19 pandemic.
Austria has agreed to a smaller-than-expected bailout package for Lufthansa unit Austrian Airlines of 450 million euros ($508 million) in loans and grants, people familiar with the matter said on Monday.
Austrian Chancellor Sebastian Kurz, Vice Chancellor Werner Kogler and Finance Minister Gernot Bluemel will hold a news conference on Lufthansa unit Austrian Airlines at 5 p.m. (1500 GMT), the government said in a statement on Monday.
Fiat Chrysler’s planned $50 billion merger with Peugeot maker PSA has hit a bump after EU regulators voiced concerns about the companies’ market share in small vans, indicating concessions may be required, sources said.
BP will cut about 15% of its workforce in response to the coronavirus crisis and as part of Chief Executive Bernard Looney’s plan to shift the oil and gas major to renewable energy, it said on Monday.
Shares of U.S. drugmaker Gilead Sciences Inc rose over 5% in premarket trading on Monday after a report it had been approached by Britain’s AstraZeneca for a possible merger to form one of the world’s largest drug companies.
Ryanair believes Britain’s courts will either strike down a 14-day quarantine for international travellers this week or the government will drop the measure before the end of June, boss Michael O’Leary told Reuters on Monday.
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